Westaim Corp Stock Market Value
| WED Stock | CAD 3.69 0.01 0.27% |
| Symbol | Westaim |
Westaim Corp Price To Book Ratio
Westaim Corp '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 Westaim Corp'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 Westaim Corp.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Westaim Corp on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Westaim Corp or generate 0.0% return on investment in Westaim Corp over 30 days. Westaim Corp is related to or competes with Berkshire Hathaway, E L, E L, Fairfax Financial, Fairfax Financial, Fairfax Financial, and Fairfax Financial. The Westaim Corporation is a private equity firm specializing in direct and indirect investments through acquisitions, j... More
Westaim Corp 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 Westaim Corp'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 Westaim Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6548 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 4.96 | |||
| Value At Risk | (0.84) | |||
| Potential Upside | 1.13 |
Westaim Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Westaim Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Westaim Corp's standard deviation. In reality, there are many statistical measures that can use Westaim Corp historical prices to predict the future Westaim Corp's volatility.| Risk Adjusted Performance | 0.0108 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | 0.0031 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Westaim Corp'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.
Westaim Corp Backtested Returns
We consider Westaim Corp not too volatile. Westaim Corp shows Sharpe Ratio of 0.0381, which attests that the company had a 0.0381% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Westaim Corp, which you can use to evaluate the volatility of the company. Please check out Westaim Corp's Mean Deviation of 0.5141, market risk adjusted performance of 0.0131, and Downside Deviation of 0.6548 to validate if the risk estimate we provide is consistent with the expected return of 0.0288%. Westaim Corp has a performance score of 2 on a scale of 0 to 100. The firm maintains a market beta of 0.31, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Westaim Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Westaim Corp is expected to be smaller as well. Westaim Corp right now maintains a risk of 0.76%. Please check out Westaim Corp skewness, and the relationship between the potential upside and rate of daily change , to decide if Westaim Corp will be following its historical returns.
Auto-correlation | -0.93 |
Near perfect reversele predictability
Westaim Corp has near perfect reversele predictability. Overlapping area represents the amount of predictability between Westaim Corp time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Westaim Corp price movement. The serial correlation of -0.93 indicates that approximately 93.0% of current Westaim Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.93 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Westaim Corp lagged returns against current returns
Autocorrelation, which is Westaim Corp 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 Westaim Corp's stock expected returns. We can calculate the autocorrelation of Westaim Corp returns to help us make a trade decision. For example, suppose you find that Westaim Corp 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 |
Westaim Corp 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 Westaim Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Westaim Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Westaim Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Westaim Corp Lagged Returns
When evaluating Westaim Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Westaim Corp stock have on its future price. Westaim Corp 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, Westaim Corp autocorrelation shows the relationship between Westaim Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Westaim Corp.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Check out Westaim Corp Correlation, Westaim Corp Volatility and Westaim Corp Alpha and Beta module to complement your research on Westaim Corp. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Complementary Tools for Westaim Stock analysis
When running Westaim Corp's price analysis, check to measure Westaim Corp'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 Westaim Corp is operating at the current time. Most of Westaim Corp's value examination focuses on studying past and present price action to predict the probability of Westaim Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Westaim Corp's price. Additionally, you may evaluate how the addition of Westaim Corp to your portfolios can decrease your overall portfolio volatility.
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Westaim Corp 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.