Northwest Healthcare Properties Stock Market Value
| NWH-UN Stock | CAD 5.04 0.02 0.40% |
| Symbol | NorthWest |
NorthWest Healthcare Price To Book Ratio
NorthWest Healthcare '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 NorthWest Healthcare'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 NorthWest Healthcare.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in NorthWest Healthcare on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding NorthWest Healthcare Properties or generate 0.0% return on investment in NorthWest Healthcare over 30 days. NorthWest Healthcare is related to or competes with SmartCentres Real, Dream Industrial, RioCan Real, and Algonquin Power. NorthWest Healthcare Properties Real Estate Investment Trust is an unincorporated, open-ended real estate investment tru... More
NorthWest Healthcare 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 NorthWest Healthcare'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 NorthWest Healthcare Properties upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 6.78 | |||
| Value At Risk | (1.75) | |||
| Potential Upside | 2.43 |
NorthWest Healthcare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NorthWest Healthcare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NorthWest Healthcare's standard deviation. In reality, there are many statistical measures that can use NorthWest Healthcare historical prices to predict the future NorthWest Healthcare's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | (0.36) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of NorthWest Healthcare's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
NorthWest Healthcare Backtested Returns
NorthWest Healthcare has Sharpe Ratio of -0.0025, which conveys that the firm had a -0.0025% return per unit of risk over the last 3 months. NorthWest Healthcare exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify NorthWest Healthcare's Risk Adjusted Performance of (0.01), standard deviation of 1.35, and Mean Deviation of 1.04 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.085, which conveys not very significant fluctuations relative to the market. As returns on the market increase, NorthWest Healthcare's returns are expected to increase less than the market. However, during the bear market, the loss of holding NorthWest Healthcare is expected to be smaller as well. At this point, NorthWest Healthcare has a negative expected return of -0.0034%. Please make sure to verify NorthWest Healthcare's kurtosis, as well as the relationship between the day median price and period momentum indicator , to decide if NorthWest Healthcare performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.81 |
Excellent reverse predictability
NorthWest Healthcare Properties has excellent reverse predictability. Overlapping area represents the amount of predictability between NorthWest Healthcare 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 NorthWest Healthcare price movement. The serial correlation of -0.81 indicates that around 81.0% of current NorthWest Healthcare price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.81 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NorthWest Healthcare lagged returns against current returns
Autocorrelation, which is NorthWest Healthcare 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 NorthWest Healthcare's stock expected returns. We can calculate the autocorrelation of NorthWest Healthcare returns to help us make a trade decision. For example, suppose you find that NorthWest Healthcare 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 |
NorthWest Healthcare 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 NorthWest Healthcare stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NorthWest Healthcare stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NorthWest Healthcare stock over time.
Current vs Lagged Prices |
| Timeline |
NorthWest Healthcare Lagged Returns
When evaluating NorthWest Healthcare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NorthWest Healthcare stock have on its future price. NorthWest Healthcare 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, NorthWest Healthcare autocorrelation shows the relationship between NorthWest Healthcare stock current value and its past values and can show if there is a momentum factor associated with investing in NorthWest Healthcare Properties.
Regressed Prices |
| Timeline |
Pair Trading with NorthWest Healthcare
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 NorthWest Healthcare 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 NorthWest Healthcare will appreciate offsetting losses from the drop in the long position's value.Moving together with NorthWest Stock
Moving against NorthWest Stock
The ability to find closely correlated positions to NorthWest Healthcare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NorthWest Healthcare 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 NorthWest Healthcare - 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 NorthWest Healthcare Properties to buy it.
The correlation of NorthWest Healthcare 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 NorthWest Healthcare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NorthWest Healthcare 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 NorthWest Healthcare 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 NorthWest Stock
NorthWest Healthcare financial ratios help investors to determine whether NorthWest 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 NorthWest with respect to the benefits of owning NorthWest Healthcare security.