Great Ajax Corp Stock Market Value
| AJX Stock | USD 3.63 0.10 2.68% |
| Symbol | Great |
Great Ajax Corp Price To Book Ratio
Is Great Ajax'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 Great Ajax. If investors know Great 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 Great Ajax 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 (0.50) | Dividend Share 0.51 | Earnings Share (2.01) | Revenue Per Share (2.62) | Quarterly Revenue Growth (0.82) |
The market value of Great Ajax Corp is measured differently than its book value, which is the value of Great that is recorded on the company's balance sheet. Investors also form their own opinion of Great Ajax's value that differs from its market value or its book value, called intrinsic value, which is Great Ajax'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 Great Ajax's market value can be influenced by many factors that don't directly affect Great Ajax'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 Great Ajax's value and its price as these two are different measures arrived at by different means. Investors typically determine if Great Ajax is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Great Ajax'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.
Great Ajax '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 Great Ajax'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 Great Ajax.
| 04/04/2024 |
| 05/04/2024 |
If you would invest 0.00 in Great Ajax on April 4, 2024 and sell it all today you would earn a total of 0.00 from holding Great Ajax Corp or generate 0.0% return on investment in Great Ajax over 30 days. Great Ajax is related to or competes with Ellington Financial, and Ellington Residential. Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small b... More
Great Ajax 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 Great Ajax'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 Great Ajax Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 19.85 | |||
| Value At Risk | (6.40) | |||
| Potential Upside | 4.59 |
Great Ajax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Great Ajax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Great Ajax's standard deviation. In reality, there are many statistical measures that can use Great Ajax historical prices to predict the future Great Ajax's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.76) | |||
| Total Risk Alpha | (1.03) | |||
| Treynor Ratio | (0.36) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Great Ajax'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.
Great Ajax Corp Backtested Returns
Great Ajax Corp holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of risk over the last 3 months. Great Ajax Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Great Ajax's Market Risk Adjusted Performance of (0.35), standard deviation of 3.55, and Risk Adjusted Performance of (0.10) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 1.75, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Great Ajax will likely underperform. Great Ajax Corp has an expected return of -0.58%. Please make sure to check out Great Ajax total risk alpha, as well as the relationship between the skewness and day median price , to decide if Great Ajax Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.56 |
Good reverse predictability
Great Ajax Corp has good reverse predictability. Overlapping area represents the amount of predictability between Great Ajax time series from 4th of April 2024 to 19th of April 2024 and 19th of April 2024 to 4th of May 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 Great Ajax Corp price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current Great Ajax price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Great Ajax Corp lagged returns against current returns
Autocorrelation, which is Great Ajax 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 Great Ajax's stock expected returns. We can calculate the autocorrelation of Great Ajax returns to help us make a trade decision. For example, suppose you find that Great Ajax 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 |
Great Ajax 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 Great Ajax stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Great Ajax stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Great Ajax stock over time.
Current vs Lagged Prices |
| Timeline |
Great Ajax Lagged Returns
When evaluating Great Ajax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Great Ajax stock have on its future price. Great Ajax 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, Great Ajax autocorrelation shows the relationship between Great Ajax stock current value and its past values and can show if there is a momentum factor associated with investing in Great Ajax Corp.
Regressed Prices |
| Timeline |
Pair Trading with Great Ajax
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 Great Ajax 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 Great Ajax will appreciate offsetting losses from the drop in the long position's value.Moving against Great Stock
| 0.72 | DB | Deutsche Bank AG | PairCorr |
| 0.7 | LU | Lufax Holding Financial Report 27th of May 2024 | PairCorr |
| 0.67 | CG | Carlyle Group | PairCorr |
| 0.61 | GS | Goldman Sachs Group Financial Report 17th of July 2024 | PairCorr |
| 0.6 | MS | Morgan Stanley Financial Report 16th of July 2024 | PairCorr |
The ability to find closely correlated positions to Great Ajax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Great Ajax 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 Great Ajax - 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 Great Ajax Corp to buy it.
The correlation of Great Ajax 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 Great Ajax moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Great Ajax 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 Great Ajax 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 Great Ajax Correlation, Great Ajax Volatility and Great Ajax Alpha and Beta module to complement your research on Great Ajax. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Complementary Tools for Great Stock analysis
When running Great Ajax's price analysis, check to measure Great Ajax'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 Great Ajax is operating at the current time. Most of Great Ajax's value examination focuses on studying past and present price action to predict the probability of Great Ajax's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Great Ajax's price. Additionally, you may evaluate how the addition of Great Ajax to your portfolios can decrease your overall portfolio volatility.
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Great Ajax 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.