Canadian National Railway Stock Market Value
| CNI Stock | USD 127.03 0.25 0.20% |
| Symbol | Canadian |
Canadian National Railway Price To Book Ratio
Is Canadian National's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canadian National. If investors know Canadian will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canadian National listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.562 | Dividend Share 3.16 | Earnings Share 6.2 | Revenue Per Share 25.586 | Quarterly Revenue Growth (0.02) |
The market value of Canadian National Railway is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian National's value that differs from its market value or its book value, called intrinsic value, which is Canadian National's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canadian National's market value can be influenced by many factors that don't directly affect Canadian National's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canadian National's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian National is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian National's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Canadian National '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 Canadian National'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 Canadian National.
| 02/18/2024 |
| 04/18/2024 |
If you would invest 0.00 in Canadian National on February 18, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian National Railway or generate 0.0% return on investment in Canadian National over 60 days. Canadian National is related to or competes with Westinghouse Air, Trinity Industries, Greenbrier Companies, and LB Foster. Canadian National Railway Company, together with its subsidiaries, engages in the rail and related transportation busine... More
Canadian National 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 Canadian National'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 Canadian National Railway upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.11 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 4.54 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 1.83 |
Canadian National Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian National's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian National's standard deviation. In reality, there are many statistical measures that can use Canadian National historical prices to predict the future Canadian National's volatility.| Risk Adjusted Performance | 0.0175 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0111 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian National'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.
Canadian National Railway Backtested Returns
We consider Canadian National very steady. Canadian National Railway secures Sharpe Ratio (or Efficiency) of 0.0232, which signifies that the company had a 0.0232% return per unit of risk over the last 3 months. We have found thirty technical indicators for Canadian National Railway, which you can use to evaluate the volatility of the firm. Please confirm Canadian National's Risk Adjusted Performance of 0.0175, mean deviation of 0.8186, and Downside Deviation of 1.11 to double-check if the risk estimate we provide is consistent with the expected return of 0.0239%. Canadian National has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.15, which signifies a somewhat significant risk relative to the market. Canadian National returns are very sensitive to returns on the market. As the market goes up or down, Canadian National is expected to follow. Canadian National Railway right now shows a risk of 1.03%. Please confirm Canadian National Railway sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Canadian National Railway will be following its price patterns.
Auto-correlation | 0.29 |
Poor predictability
Canadian National Railway has poor predictability. Overlapping area represents the amount of predictability between Canadian National time series from 18th of February 2024 to 19th of March 2024 and 19th of March 2024 to 18th of April 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 Canadian National Railway price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Canadian National price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 2.28 |
Canadian National Railway lagged returns against current returns
Autocorrelation, which is Canadian National 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 Canadian National's stock expected returns. We can calculate the autocorrelation of Canadian National returns to help us make a trade decision. For example, suppose you find that Canadian National 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 |
Canadian National 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 Canadian National stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian National stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian National stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian National Lagged Returns
When evaluating Canadian National's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian National stock have on its future price. Canadian National 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, Canadian National autocorrelation shows the relationship between Canadian National stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian National Railway.
Regressed Prices |
| Timeline |
Canadian National Investors Sentiment
The influence of Canadian National's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Canadian. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Canadian National's public news can be used to forecast risks associated with an investment in Canadian. The trend in average sentiment can be used to explain how an investor holding Canadian can time the market purely based on public headlines and social activities around Canadian National Railway. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Canadian National's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Canadian National's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Canadian National's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Canadian National.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Canadian National in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Canadian National's short interest history, or implied volatility extrapolated from Canadian National options trading.
Pair Trading with Canadian National
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 Canadian National 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 Canadian National will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
| 0.88 | CP | Canadian Pacific Railway Earnings Call This Week | PairCorr |
Moving against Canadian Stock
| 0.76 | ATSG | Air Transport Services Financial Report 2nd of May 2024 | PairCorr |
| 0.64 | VLRS | Volaris Financial Report 22nd of April 2024 | PairCorr |
| 0.55 | SRFM | Surf Air Mobility | PairCorr |
| 0.5 | SAVE | Spirit Airlines Financial Report 24th of April 2024 | PairCorr |
| 0.48 | HA | Hawaiian Holdings Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Canadian National could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian National 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 Canadian National - 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 Canadian National Railway to buy it.
The correlation of Canadian National 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 Canadian National moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian National Railway 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 Canadian National 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 Canadian National Correlation, Canadian National Volatility and Canadian National Alpha and Beta module to complement your research on Canadian National. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Complementary Tools for Canadian Stock analysis
When running Canadian National's price analysis, check to measure Canadian National's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian National is operating at the current time. Most of Canadian National's value examination focuses on studying past and present price action to predict the probability of Canadian National's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian National's price. Additionally, you may evaluate how the addition of Canadian National to your portfolios can decrease your overall portfolio volatility.
| Idea Analyzer Analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas | |
| Stocks Directory Find actively traded stocks across global markets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |
Canadian National 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.