Algoma Central Stock Market Value
| ALC Stock | CAD 14.19 0.05 0.35% |
| Symbol | Algoma |
Algoma Central '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 Algoma Central'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 Algoma Central.
| 05/17/2024 |
| 06/16/2024 |
If you would invest 0.00 in Algoma Central on May 17, 2024 and sell it all today you would earn a total of 0.00 from holding Algoma Central or generate 0.0% return on investment in Algoma Central over 30 days. Algoma Central is related to or competes with Leons Furniture, High Liner, Exco Technologies, and Wajax. Algoma Central Corporation owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes - St More
Algoma Central 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 Algoma Central'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 Algoma Central upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 2.63 | |||
| Value At Risk | (1.22) | |||
| Potential Upside | 0.9722 |
Algoma Central Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Algoma Central's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Algoma Central's standard deviation. In reality, there are many statistical measures that can use Algoma Central historical prices to predict the future Algoma Central's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | 8.32 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Algoma Central'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.
Algoma Central Backtested Returns
Algoma Central secures Sharpe Ratio (or Efficiency) of -0.0958, which signifies that the company had a -0.0958% return per unit of standard deviation over the last 3 months. Algoma Central exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Algoma Central's mean deviation of 0.4293, and Risk Adjusted Performance of (0.07) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0079, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Algoma Central are expected to decrease at a much lower rate. During the bear market, Algoma Central is likely to outperform the market. At this point, Algoma Central has a negative expected return of -0.0557%. Please make sure to confirm Algoma Central's skewness, day typical price, and the relationship between the maximum drawdown and daily balance of power , to decide if Algoma Central performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Algoma Central has weak predictability. Overlapping area represents the amount of predictability between Algoma Central time series from 17th of May 2024 to 1st of June 2024 and 1st of June 2024 to 16th of June 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 Algoma Central price movement. The serial correlation of 0.2 indicates that over 20.0% of current Algoma Central price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Algoma Central lagged returns against current returns
Autocorrelation, which is Algoma Central 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 Algoma Central's stock expected returns. We can calculate the autocorrelation of Algoma Central returns to help us make a trade decision. For example, suppose you find that Algoma Central 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 |
Algoma Central 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 Algoma Central stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Algoma Central stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Algoma Central stock over time.
Current vs Lagged Prices |
| Timeline |
Algoma Central Lagged Returns
When evaluating Algoma Central's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Algoma Central stock have on its future price. Algoma Central 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, Algoma Central autocorrelation shows the relationship between Algoma Central stock current value and its past values and can show if there is a momentum factor associated with investing in Algoma Central.
Regressed Prices |
| Timeline |
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Algoma Central financial ratios help investors to determine whether Algoma Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Algoma with respect to the benefits of owning Algoma Central security.