Open Text Corp Stock Market Value
| OTEX Stock | CAD 42.98 0.08 0.19% |
| Symbol | Open |
Open Text Corp Price To Book Ratio
Open Text '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 Open Text'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 Open Text.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Open Text on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Open Text Corp or generate 0.0% return on investment in Open Text over 30 days. Open Text is related to or competes with Bragg Gaming, Sangoma Technologies, Xtract One, Caribbean Utilities, and Renoworks Software. Open Text Corporation engages in the designs, develops, markets, and sells information management software and solutions More
Open Text 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 Open Text'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 Open Text Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 13.83 | |||
| Value At Risk | (2.51) | |||
| Potential Upside | 1.84 |
Open Text Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Open Text's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Open Text's standard deviation. In reality, there are many statistical measures that can use Open Text historical prices to predict the future Open Text's volatility.| Risk Adjusted Performance | 0.005 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (0.02) |
Open Text Corp Backtested Returns
As of now, Open Stock is very steady. Open Text Corp maintains Sharpe Ratio (i.e., Efficiency) of 0.0082, which implies the firm had a 0.0082% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Open Text Corp, which you can use to evaluate the volatility of the company. Please check Open Text's Coefficient Of Variation of (72,992), risk adjusted performance of 0.005, and Variance of 3.71 to confirm if the risk estimate we provide is consistent with the expected return of 0.0163%. The company holds a Beta of 0.6, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Open Text's returns are expected to increase less than the market. However, during the bear market, the loss of holding Open Text is expected to be smaller as well. Open Text Corp right now holds a risk of 1.97%. Please check Open Text Corp jensen alpha, treynor ratio, and the relationship between the information ratio and total risk alpha , to decide if Open Text Corp will be following its historical price patterns.
Auto-correlation | 0.19 |
Very weak predictability
Open Text Corp has very weak predictability. Overlapping area represents the amount of predictability between Open Text time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th of November 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 Open Text Corp price movement. The serial correlation of 0.19 indicates that over 19.0% of current Open Text price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 1.29 |
Open Text Corp lagged returns against current returns
Autocorrelation, which is Open Text 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 Open Text's stock expected returns. We can calculate the autocorrelation of Open Text returns to help us make a trade decision. For example, suppose you find that Open Text 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 |
Open Text 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 Open Text stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Open Text stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Open Text stock over time.
Current vs Lagged Prices |
| Timeline |
Open Text Lagged Returns
When evaluating Open Text's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Open Text stock have on its future price. Open Text 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, Open Text autocorrelation shows the relationship between Open Text stock current value and its past values and can show if there is a momentum factor associated with investing in Open Text Corp.
Regressed Prices |
| Timeline |
Pair Trading with Open Text
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 Open Text 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 Open Text will appreciate offsetting losses from the drop in the long position's value.Moving against Open Stock
| 0.45 | AMZN | Amazon CDR | PairCorr |
| 0.43 | COST | Costco Wholesale Corp | PairCorr |
| 0.42 | UNH | UnitedHealth Group CDR | PairCorr |
| 0.39 | GOOG | Alphabet CDR | PairCorr |
| 0.36 | WMT | Walmart Inc CDR | PairCorr |
The ability to find closely correlated positions to Open Text could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Open Text 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 Open Text - 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 Open Text Corp to buy it.
The correlation of Open Text 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 Open Text moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Open Text Corp 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 Open Text 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.Check out Open Text Correlation, Open Text Volatility and Open Text Alpha and Beta module to complement your research on Open Text. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Open Text technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.