Pyrogenesis Canada Stock Market Value
| PYR Stock | CAD 0.59 0.05 9.26% |
| Symbol | PyroGenesis |
PyroGenesis Canada Price To Book Ratio
PyroGenesis Canada '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 PyroGenesis Canada'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 PyroGenesis Canada.
| 02/07/2023 |
| 12/28/2024 |
If you would invest 0.00 in PyroGenesis Canada on February 7, 2023 and sell it all today you would earn a total of 0.00 from holding PyroGenesis Canada or generate 0.0% return on investment in PyroGenesis Canada over 690 days. PyroGenesis Canada is related to or competes with Microsoft Corp, Apple, Alphabet, Amazon CDR, Toronto Dominion, JPMorgan Chase, and Berkshire Hathaway. PyroGenesis Canada Inc. designs, develops, manufactures, and commercializes plasma processes and systems in Canada and i... More
PyroGenesis Canada 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 PyroGenesis Canada'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 PyroGenesis Canada upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 20.58 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 7.89 |
PyroGenesis Canada Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PyroGenesis Canada's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PyroGenesis Canada's standard deviation. In reality, there are many statistical measures that can use PyroGenesis Canada historical prices to predict the future PyroGenesis Canada's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.56) | |||
| Total Risk Alpha | (0.68) | |||
| Treynor Ratio | 2.05 |
PyroGenesis Canada Backtested Returns
PyroGenesis Canada maintains Sharpe Ratio (i.e., Efficiency) of -0.17, which implies the firm had a -0.17% return per unit of risk over the last 3 months. PyroGenesis Canada exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PyroGenesis Canada's Coefficient Of Variation of (727.67), variance of 16.51, and Risk Adjusted Performance of (0.10) to confirm the risk estimate we provide. The company holds a Beta of -0.28, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning PyroGenesis Canada are expected to decrease at a much lower rate. During the bear market, PyroGenesis Canada is likely to outperform the market. At this point, PyroGenesis Canada has a negative expected return of -0.66%. Please make sure to check PyroGenesis Canada's kurtosis, as well as the relationship between the day median price and period momentum indicator , to decide if PyroGenesis Canada performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.53 |
Good reverse predictability
PyroGenesis Canada has good reverse predictability. Overlapping area represents the amount of predictability between PyroGenesis Canada time series from 7th of February 2023 to 18th of January 2024 and 18th of January 2024 to 28th 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 PyroGenesis Canada price movement. The serial correlation of -0.53 indicates that about 53.0% of current PyroGenesis Canada price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | -0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
PyroGenesis Canada lagged returns against current returns
Autocorrelation, which is PyroGenesis Canada 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 PyroGenesis Canada's stock expected returns. We can calculate the autocorrelation of PyroGenesis Canada returns to help us make a trade decision. For example, suppose you find that PyroGenesis Canada 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 |
PyroGenesis Canada 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 PyroGenesis Canada stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PyroGenesis Canada stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PyroGenesis Canada stock over time.
Current vs Lagged Prices |
| Timeline |
PyroGenesis Canada Lagged Returns
When evaluating PyroGenesis Canada's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PyroGenesis Canada stock have on its future price. PyroGenesis Canada 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, PyroGenesis Canada autocorrelation shows the relationship between PyroGenesis Canada stock current value and its past values and can show if there is a momentum factor associated with investing in PyroGenesis Canada.
Regressed Prices |
| Timeline |
Pair Trading with PyroGenesis Canada
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 PyroGenesis Canada 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 PyroGenesis Canada will appreciate offsetting losses from the drop in the long position's value.Moving against PyroGenesis Stock
| 0.92 | FFH | Fairfax Financial | PairCorr |
| 0.92 | FFH-PD | Fairfax Financial | PairCorr |
| 0.9 | FFH-PF | Fairfax Financial | PairCorr |
| 0.9 | FFH-PM | Fairfax Financial | PairCorr |
| 0.89 | FFH-PJ | Fairfax Financial | PairCorr |
The ability to find closely correlated positions to PyroGenesis Canada could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PyroGenesis Canada 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 PyroGenesis Canada - 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 PyroGenesis Canada to buy it.
The correlation of PyroGenesis Canada 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 PyroGenesis Canada moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PyroGenesis Canada 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 PyroGenesis Canada 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 PyroGenesis Stock
PyroGenesis Canada financial ratios help investors to determine whether PyroGenesis 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 PyroGenesis with respect to the benefits of owning PyroGenesis Canada security.