Richelieu Hardware Stock Market Value
| RCH Stock | CAD 41.08 0.42 1.03% |
| Symbol | Richelieu |
Richelieu Hardware Price To Book Ratio
Richelieu Hardware '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 Richelieu Hardware'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 Richelieu Hardware.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Richelieu Hardware on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Richelieu Hardware or generate 0.0% return on investment in Richelieu Hardware over 720 days. Richelieu Hardware is related to or competes with Stella Jones, Winpak, Stantec, Gildan Activewear, and Ritchie Bros. Richelieu Hardware Ltd. manufactures, imports, and distributes specialty hardware and complementary products in North Am... More
Richelieu Hardware 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 Richelieu Hardware'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 Richelieu Hardware upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.47 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 6.66 | |||
| Value At Risk | (2.32) | |||
| Potential Upside | 2.65 |
Richelieu Hardware Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Richelieu Hardware's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Richelieu Hardware's standard deviation. In reality, there are many statistical measures that can use Richelieu Hardware historical prices to predict the future Richelieu Hardware's volatility.| Risk Adjusted Performance | 0.0627 | |||
| Jensen Alpha | 0.0361 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.2035 |
Richelieu Hardware Backtested Returns
As of now, Richelieu Stock is very steady. Richelieu Hardware maintains Sharpe Ratio (i.e., Efficiency) of 0.0773, which implies the firm had a 0.0773% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Richelieu Hardware, which you can use to evaluate the volatility of the company. Please check Richelieu Hardware's Risk Adjusted Performance of 0.0627, coefficient of variation of 1316.03, and Semi Deviation of 1.28 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. Richelieu Hardware has a performance score of 6 on a scale of 0 to 100. The company holds a Beta of 0.48, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Richelieu Hardware's returns are expected to increase less than the market. However, during the bear market, the loss of holding Richelieu Hardware is expected to be smaller as well. Richelieu Hardware right now holds a risk of 1.41%. Please check Richelieu Hardware maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to decide if Richelieu Hardware will be following its historical price patterns.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Richelieu Hardware has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Richelieu Hardware time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 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 Richelieu Hardware price movement. The serial correlation of -0.72 indicates that around 72.0% of current Richelieu Hardware price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 5.82 |
Richelieu Hardware lagged returns against current returns
Autocorrelation, which is Richelieu Hardware 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 Richelieu Hardware's stock expected returns. We can calculate the autocorrelation of Richelieu Hardware returns to help us make a trade decision. For example, suppose you find that Richelieu Hardware 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 |
Richelieu Hardware 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 Richelieu Hardware stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Richelieu Hardware stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Richelieu Hardware stock over time.
Current vs Lagged Prices |
| Timeline |
Richelieu Hardware Lagged Returns
When evaluating Richelieu Hardware's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Richelieu Hardware stock have on its future price. Richelieu Hardware 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, Richelieu Hardware autocorrelation shows the relationship between Richelieu Hardware stock current value and its past values and can show if there is a momentum factor associated with investing in Richelieu Hardware.
Regressed Prices |
| Timeline |
Pair Trading with Richelieu Hardware
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 Richelieu Hardware 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 Richelieu Hardware will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Richelieu Hardware could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Richelieu Hardware 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 Richelieu Hardware - 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 Richelieu Hardware to buy it.
The correlation of Richelieu Hardware 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 Richelieu Hardware moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Richelieu Hardware 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 Richelieu Hardware 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 Richelieu Stock
Richelieu Hardware financial ratios help investors to determine whether Richelieu 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 Richelieu with respect to the benefits of owning Richelieu Hardware security.