Superior Plus Corp Stock Market Value
| SPB Stock | CAD 6.62 0.15 2.32% |
| Symbol | Superior |
Superior Plus Corp Price To Book Ratio
Superior Plus '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 Superior Plus' 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 Superior Plus.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Superior Plus on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding Superior Plus Corp or generate 0.0% return on investment in Superior Plus over 360 days. Superior Plus is related to or competes with Gibson Energy, Parkland Fuel, Mullen, Keyera Corp, and Capital Power. Superior Plus Corp. engages in the energy distribution and specialty chemicals businesses in Canada, the United States, ... More
Superior Plus 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 Superior Plus' 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 Superior Plus Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 20.0 | |||
| Value At Risk | (2.73) | |||
| Potential Upside | 2.32 |
Superior Plus Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Superior Plus' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Superior Plus' standard deviation. In reality, there are many statistical measures that can use Superior Plus historical prices to predict the future Superior Plus' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | 0.0195 | |||
| Total Risk Alpha | (0.65) | |||
| Treynor Ratio | 0.1108 |
Superior Plus Corp Backtested Returns
Superior Plus Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0437, which indicates the firm had a -0.0437% return per unit of risk over the last 3 months. Superior Plus Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Superior Plus' Risk Adjusted Performance of (0.02), variance of 9.7, and Coefficient Of Variation of (2,614) to confirm the risk estimate we provide. The entity has a beta of -1.17, which indicates a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Superior Plus are expected to decrease by larger amounts. On the other hand, during market turmoil, Superior Plus is expected to outperform it. At this point, Superior Plus Corp has a negative expected return of -0.14%. Please make sure to validate Superior Plus' accumulation distribution, and the relationship between the potential upside and day median price , to decide if Superior Plus Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.05 |
Very weak reverse predictability
Superior Plus Corp has very weak reverse predictability. Overlapping area represents the amount of predictability between Superior Plus time series from 7th of December 2023 to 4th of June 2024 and 4th of June 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 Superior Plus Corp price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current Superior Plus price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.57 |
Superior Plus Corp lagged returns against current returns
Autocorrelation, which is Superior Plus 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 Superior Plus' stock expected returns. We can calculate the autocorrelation of Superior Plus returns to help us make a trade decision. For example, suppose you find that Superior Plus 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 |
Superior Plus 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 Superior Plus stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Superior Plus stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Superior Plus stock over time.
Current vs Lagged Prices |
| Timeline |
Superior Plus Lagged Returns
When evaluating Superior Plus' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Superior Plus stock have on its future price. Superior Plus 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, Superior Plus autocorrelation shows the relationship between Superior Plus stock current value and its past values and can show if there is a momentum factor associated with investing in Superior Plus Corp.
Regressed Prices |
| Timeline |
Pair Trading with Superior Plus
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 Superior Plus 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 Superior Plus will appreciate offsetting losses from the drop in the long position's value.Moving against Superior Stock
| 0.89 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.87 | BOFA | Bank of America | PairCorr |
| 0.87 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.85 | JPM | JPMorgan Chase | PairCorr |
| 0.85 | RY-PJ | Royal Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Superior Plus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Superior Plus 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 Superior Plus - 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 Superior Plus Corp to buy it.
The correlation of Superior Plus 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 Superior Plus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Superior Plus 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 Superior Plus 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 Superior Stock
Superior Plus financial ratios help investors to determine whether Superior 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 Superior with respect to the benefits of owning Superior Plus security.