Worksport Stock Market Value
| WKSP Stock | USD 0.58 0.02 3.33% |
| Symbol | Worksport |
Worksport Price To Book Ratio
Is Automotive Parts & Equipment space 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 Worksport. If investors know Worksport 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 Worksport listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.81) | Revenue Per Share 0.108 | Quarterly Revenue Growth 15.058 | Return On Assets (0.32) | Return On Equity (0.75) |
The market value of Worksport is measured differently than its book value, which is the value of Worksport that is recorded on the company's balance sheet. Investors also form their own opinion of Worksport's value that differs from its market value or its book value, called intrinsic value, which is Worksport'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 Worksport's market value can be influenced by many factors that don't directly affect Worksport'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 Worksport's value and its price as these two are different measures arrived at by different means. Investors typically determine if Worksport is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Worksport'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.
Worksport '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 Worksport'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 Worksport.
| 03/12/2024 |
| 06/10/2024 |
If you would invest 0.00 in Worksport on March 12, 2024 and sell it all today you would earn a total of 0.00 from holding Worksport or generate 0.0% return on investment in Worksport over 90 days. Worksport is related to or competes with Allison Transmission, LKQ, Lear, Gentex, Adient PLC, Fox Factory, and Dana. Worksport Ltd., through its subsidiary, designs, manufactures, and distributes truck tonneau covers in Canada and the Un... More
Worksport 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 Worksport'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 Worksport upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 59.04 | |||
| Value At Risk | (14.12) | |||
| Potential Upside | 19.51 |
Worksport Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Worksport's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Worksport's standard deviation. In reality, there are many statistical measures that can use Worksport historical prices to predict the future Worksport's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (1.37) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Worksport'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.
Worksport Backtested Returns
Worksport shows Sharpe Ratio of -0.0149, which attests that the company had a -0.0149% return per unit of risk over the last 3 months. Worksport exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Worksport's Market Risk Adjusted Performance of (1.36), standard deviation of 10.31, and Mean Deviation of 6.45 to validate the risk estimate we provide. The firm maintains a market beta of 0.29, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Worksport's returns are expected to increase less than the market. However, during the bear market, the loss of holding Worksport is expected to be smaller as well. At this point, Worksport has a negative expected return of -0.16%. Please make sure to check out Worksport's value at risk and rate of daily change , to decide if Worksport performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Worksport has weak predictability. Overlapping area represents the amount of predictability between Worksport time series from 12th of March 2024 to 26th of April 2024 and 26th of April 2024 to 10th 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 Worksport price movement. The serial correlation of 0.2 indicates that over 20.0% of current Worksport price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Worksport lagged returns against current returns
Autocorrelation, which is Worksport 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 Worksport's stock expected returns. We can calculate the autocorrelation of Worksport returns to help us make a trade decision. For example, suppose you find that Worksport 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 |
Worksport 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 Worksport stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Worksport stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Worksport stock over time.
Current vs Lagged Prices |
| Timeline |
Worksport Lagged Returns
When evaluating Worksport's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Worksport stock have on its future price. Worksport 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, Worksport autocorrelation shows the relationship between Worksport stock current value and its past values and can show if there is a momentum factor associated with investing in Worksport.
Regressed Prices |
| Timeline |
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Try AI Portfolio ArchitectAdditional Tools for Worksport Stock Analysis
When running Worksport's price analysis, check to measure Worksport'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 Worksport is operating at the current time. Most of Worksport's value examination focuses on studying past and present price action to predict the probability of Worksport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worksport's price. Additionally, you may evaluate how the addition of Worksport to your portfolios can decrease your overall portfolio volatility.