Cansino Biologics Stock Market Value
CASBF Stock | USD 2.10 0.00 0.00% |
Symbol | CanSino |
CanSino Biologics '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 CanSino Biologics' pink sheet 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 CanSino Biologics.
03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in CanSino Biologics on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding CanSino Biologics or generate 0.0% return on investment in CanSino Biologics over 30 days. CanSino Biologics is related to or competes with Canopy Growth, Aurora Cannabis, SNDL, and Cronos. CanSino Biologics Inc. develops, manufactures, and commercializes vaccines in the Peoples Republic of China More
CanSino Biologics 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 CanSino Biologics' pink sheet 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 CanSino Biologics upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.08) | |||
Maximum Drawdown | 24.71 | |||
Value At Risk | (4.91) | |||
Potential Upside | 0.4695 |
CanSino Biologics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CanSino Biologics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CanSino Biologics' standard deviation. In reality, there are many statistical measures that can use CanSino Biologics historical prices to predict the future CanSino Biologics' volatility.Risk Adjusted Performance | (0.02) | |||
Jensen Alpha | (0.13) | |||
Total Risk Alpha | (0.57) | |||
Treynor Ratio | 0.7431 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CanSino Biologics' 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.
CanSino Biologics Backtested Returns
We consider CanSino Biologics very risky. CanSino Biologics secures Sharpe Ratio (or Efficiency) of 0.0039, which signifies that the company had a 0.0039% return per unit of risk over the last 3 months. We have found nineteen technical indicators for CanSino Biologics, which you can use to evaluate the volatility of the firm. Please confirm CanSino Biologics' Standard Deviation of 3.04, risk adjusted performance of (0.02), and Mean Deviation of 1.13 to double-check if the risk estimate we provide is consistent with the expected return of 0.0117%. The firm shows a Beta (market volatility) of -0.2, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning CanSino Biologics are expected to decrease at a much lower rate. During the bear market, CanSino Biologics is likely to outperform the market. CanSino Biologics right now shows a risk of 3.0%. Please confirm CanSino Biologics total risk alpha, as well as the relationship between the skewness and day median price , to decide if CanSino Biologics will be following its price patterns.
Auto-correlation | 0.00 |
No correlation between past and present
CanSino Biologics has no correlation between past and present. Overlapping area represents the amount of predictability between CanSino Biologics time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 CanSino Biologics price movement. The serial correlation of 0.0 indicates that just 0.0% of current CanSino Biologics price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.0 | |
Spearman Rank Test | 1.0 | |
Residual Average | 0.0 | |
Price Variance | 0.0 |
CanSino Biologics lagged returns against current returns
Autocorrelation, which is CanSino Biologics pink sheet'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 CanSino Biologics' pink sheet expected returns. We can calculate the autocorrelation of CanSino Biologics returns to help us make a trade decision. For example, suppose you find that CanSino Biologics has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
CanSino Biologics 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 CanSino Biologics pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CanSino Biologics pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CanSino Biologics pink sheet over time.
Current vs Lagged Prices |
Timeline |
CanSino Biologics Lagged Returns
When evaluating CanSino Biologics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CanSino Biologics pink sheet have on its future price. CanSino Biologics 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, CanSino Biologics autocorrelation shows the relationship between CanSino Biologics pink sheet current value and its past values and can show if there is a momentum factor associated with investing in CanSino Biologics.
Regressed Prices |
Timeline |
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 CanSino Biologics 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, CanSino Biologics' short interest history, or implied volatility extrapolated from CanSino Biologics options trading.
Pair Trading with CanSino Biologics
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 CanSino Biologics 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 CanSino Biologics will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to CanSino Biologics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CanSino Biologics 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 CanSino Biologics - 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 CanSino Biologics to buy it.
The correlation of CanSino Biologics 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 CanSino Biologics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CanSino Biologics 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 CanSino Biologics 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 CanSino Biologics Correlation, CanSino Biologics Volatility and CanSino Biologics Alpha and Beta module to complement your research on CanSino Biologics. Note that the CanSino Biologics information on this page should be used as a complementary analysis to other CanSino Biologics' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Complementary Tools for CanSino Pink Sheet analysis
When running CanSino Biologics' price analysis, check to measure CanSino Biologics' 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 CanSino Biologics is operating at the current time. Most of CanSino Biologics' value examination focuses on studying past and present price action to predict the probability of CanSino Biologics' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CanSino Biologics' price. Additionally, you may evaluate how the addition of CanSino Biologics to your portfolios can decrease your overall portfolio volatility.
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CanSino Biologics technical pink sheet 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, pink sheet market cycles, or different charting patterns.