Canadian Spirit Resources Stock Market Value
| SPI Stock | CAD 0.09 0.01 12.50% |
| Symbol | Canadian |
Canadian Spirit '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 Spirit'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 Spirit.
| 02/19/2024 |
| 04/19/2024 |
If you would invest 0.00 in Canadian Spirit on February 19, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Spirit Resources or generate 0.0% return on investment in Canadian Spirit over 60 days. Canadian Spirit is related to or competes with Verizon Communications, Rogers Communications, Oncolytics Biotech, DRI Healthcare, WELL Health, and Jamieson Wellness. Canadian Spirit Resources Inc., a natural resources company, focuses on the identification, exploration, development, an... More
Canadian Spirit 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 Spirit'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 Spirit Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 13.27 | |||
| Information Ratio | 0.1447 | |||
| Maximum Drawdown | 36.67 | |||
| Value At Risk | (11.11) | |||
| Potential Upside | 16.67 |
Canadian Spirit Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Spirit's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Spirit's standard deviation. In reality, there are many statistical measures that can use Canadian Spirit historical prices to predict the future Canadian Spirit's volatility.| Risk Adjusted Performance | 0.1041 | |||
| Jensen Alpha | 1.24 | |||
| Total Risk Alpha | 0.4403 | |||
| Sortino Ratio | 0.0835 | |||
| Treynor Ratio | (0.89) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Canadian Spirit'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 Spirit Resources Backtested Returns
Canadian Spirit appears to be out of control, given 3 months investment horizon. Canadian Spirit Resources secures Sharpe Ratio (or Efficiency) of 0.0604, which signifies that the company had a 0.0604% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Canadian Spirit Resources, which you can use to evaluate the volatility of the firm. Please makes use of Canadian Spirit's Downside Deviation of 13.27, mean deviation of 4.89, and Risk Adjusted Performance of 0.1041 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Canadian Spirit holds a performance score of 4. The firm shows a Beta (market volatility) of -1.3, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Canadian Spirit are expected to decrease by larger amounts. On the other hand, during market turmoil, Canadian Spirit is expected to outperform it. Please check Canadian Spirit's maximum drawdown and the relationship between the semi variance and price action indicator , to make a quick decision on whether Canadian Spirit's price patterns will revert.
Auto-correlation | -0.35 |
Poor reverse predictability
Canadian Spirit Resources has poor reverse predictability. Overlapping area represents the amount of predictability between Canadian Spirit time series from 19th of February 2024 to 20th of March 2024 and 20th of March 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 Canadian Spirit Resources price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Canadian Spirit price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Canadian Spirit Resources lagged returns against current returns
Autocorrelation, which is Canadian Spirit 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 Spirit's stock expected returns. We can calculate the autocorrelation of Canadian Spirit returns to help us make a trade decision. For example, suppose you find that Canadian Spirit 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 Spirit 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 Spirit stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Spirit stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Spirit stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Spirit Lagged Returns
When evaluating Canadian Spirit's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Spirit stock have on its future price. Canadian Spirit 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 Spirit autocorrelation shows the relationship between Canadian Spirit stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Spirit Resources.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Canadian Spirit Correlation, Canadian Spirit Volatility and Canadian Spirit Alpha and Beta module to complement your research on Canadian Spirit. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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When running Canadian Spirit's price analysis, check to measure Canadian Spirit'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 Spirit is operating at the current time. Most of Canadian Spirit's value examination focuses on studying past and present price action to predict the probability of Canadian Spirit'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 Spirit's price. Additionally, you may evaluate how the addition of Canadian Spirit to your portfolios can decrease your overall portfolio volatility.
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Canadian Spirit 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.