Mcan Mortgage Stock Market Value
| MKP Stock | CAD 19.69 0.13 0.66% |
| Symbol | MCAN |
MCAN Mortgage Price To Book Ratio
MCAN Mortgage 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to MCAN Mortgage's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of MCAN Mortgage.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in MCAN Mortgage on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding MCAN Mortgage or generate 0.0% return on investment in MCAN Mortgage over 30 days. MCAN Mortgage is related to or competes with Timbercreek Financial, Atrium Mortgage, Firm Capital, First National, and Fiera Capital. MCAN Mortgage Corporation operates as a mortgage investment corporation in Canada More
MCAN Mortgage Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure MCAN Mortgage's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess MCAN Mortgage upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8036 | |||
| Information Ratio | 0.072 | |||
| Maximum Drawdown | 9.45 | |||
| Value At Risk | (1.30) | |||
| Potential Upside | 1.34 |
MCAN Mortgage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MCAN Mortgage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MCAN Mortgage's standard deviation. In reality, there are many statistical measures that can use MCAN Mortgage historical prices to predict the future MCAN Mortgage's volatility.| Risk Adjusted Performance | 0.147 | |||
| Jensen Alpha | 0.1629 | |||
| Total Risk Alpha | 0.0146 | |||
| Sortino Ratio | 0.1067 | |||
| Treynor Ratio | 0.54 |
MCAN Mortgage Backtested Returns
MCAN Mortgage appears to be very steady, given 3 months investment horizon. MCAN Mortgage retains Efficiency (Sharpe Ratio) of 0.18, which conveys that the company had a 0.18% return per unit of return volatility over the last 3 months. We have found twenty-nine technical indicators for MCAN Mortgage, which you can use to evaluate the volatility of the entity. Please exercise MCAN Mortgage's Market Risk Adjusted Performance of 0.55, downside deviation of 0.8036, and Mean Deviation of 0.7018 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, MCAN Mortgage holds a performance score of 14. The firm owns a Beta (Systematic Risk) of 0.4, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, MCAN Mortgage's returns are expected to increase less than the market. However, during the bear market, the loss of holding MCAN Mortgage is expected to be smaller as well. Please check MCAN Mortgage's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether MCAN Mortgage's current price history will revert.
Auto-correlation | 0.16 |
Very weak predictability
MCAN Mortgage has very weak predictability. Overlapping area represents the amount of predictability between MCAN Mortgage time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of MCAN Mortgage price movement. The serial correlation of 0.16 indicates that over 16.0% of current MCAN Mortgage price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
MCAN Mortgage lagged returns against current returns
Autocorrelation, which is MCAN Mortgage stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting MCAN Mortgage's stock expected returns. We can calculate the autocorrelation of MCAN Mortgage returns to help us make a trade decision. For example, suppose you find that MCAN Mortgage has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
MCAN Mortgage regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If MCAN Mortgage stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MCAN Mortgage stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MCAN Mortgage stock over time.
Current vs Lagged Prices |
| Timeline |
MCAN Mortgage Lagged Returns
When evaluating MCAN Mortgage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MCAN Mortgage stock have on its future price. MCAN Mortgage autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, MCAN Mortgage autocorrelation shows the relationship between MCAN Mortgage stock current value and its past values and can show if there is a momentum factor associated with investing in MCAN Mortgage.
Regressed Prices |
| Timeline |
Pair Trading with MCAN Mortgage
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if MCAN Mortgage position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in MCAN Mortgage will appreciate offsetting losses from the drop in the long position's value.Moving together with MCAN Stock
Moving against MCAN Stock
| 0.62 | AQN | Algonquin Power Utilities | PairCorr |
| 0.48 | TD | Toronto Dominion Bank Earnings Call This Week | PairCorr |
| 0.45 | T | Telus Corp | PairCorr |
The ability to find closely correlated positions to MCAN Mortgage could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MCAN Mortgage when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MCAN Mortgage - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MCAN Mortgage to buy it.
The correlation of MCAN Mortgage is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MCAN Mortgage moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MCAN Mortgage moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for MCAN Mortgage can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in MCAN Stock
MCAN Mortgage financial ratios help investors to determine whether MCAN Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in MCAN with respect to the benefits of owning MCAN Mortgage security.