Canaan Competitors
| CAN Stock | USD 0.68 0.04 5.56% |
Canaan vs Domo Correlation
Very weak diversification
The correlation between Canaan Inc and DOMO is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canaan Inc and DOMO in the same portfolio, assuming nothing else is changed.
Moving against Canaan Stock
Canaan Competition Correlation Matrix
Typically, diversification allows investors to combine positions across different asset classes to reduce overall portfolio risk. Correlation between Canaan and its competitors represents the degree of relationship between the price movements of corresponding stocks. A correlation of about +1.0 implies that the price of Canaan and its corresponding peer move in tandem. A correlation of -1.0 means that prices move in opposite directions. A correlation of close to zero suggests that the price movements of assets are uncorrelated; in other words, the historical price movement of Canaan Inc does not affect the price movement of the other competitor.
High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Canaan Stock performing well and Canaan Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Canaan's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BMBL | 2.51 | (0.79) | 0.00 | (0.44) | 0.00 | 3.85 | 24.81 | |||
| WOLF | 3.79 | (0.73) | 0.00 | (0.74) | 0.00 | 9.02 | 22.69 | |||
| BGIN | 4.05 | (0.35) | 0.00 | (0.16) | 0.00 | 8.37 | 25.24 | |||
| BLZE | 2.75 | (1.22) | 0.00 | (0.42) | 0.00 | 3.85 | 36.91 | |||
| POET | 4.81 | (0.03) | 0.01 | 0.04 | 6.06 | 12.24 | 45.50 | |||
| DJCO | 2.86 | 0.50 | 0.12 | 0.37 | 3.86 | 7.60 | 21.24 | |||
| DDD | 4.18 | (0.41) | 0.00 | (0.05) | 0.00 | 8.33 | 26.42 | |||
| SPT | 2.55 | (0.40) | 0.00 | (0.34) | 0.00 | 4.85 | 15.22 | |||
| CCSI | 2.08 | (0.45) | 0.00 | (0.17) | 0.00 | 3.55 | 20.98 | |||
| DOMO | 3.09 | (1.28) | 0.00 | (0.42) | 0.00 | 5.02 | 28.62 |
Canaan Competitive Analysis
The better you understand Canaan competitors, the better chance you have of utilizing it as a position in your portfolios. From an individual investor's perspective, Canaan's competitive analysis can cover a whole range of metrics. Some of these will be more critical depending on who you are as an investor and how you react to market volatility. However, if you are locking your investment sandscape to a long-term horizon, comparing the fundamental indicator across Canaan's competition over several years is one of the best ways to analyze its investment potential.| Better Than Average | Worse Than Peers | View Performance Chart |
Canaan Competition Performance Charts
Five steps to successful analysis of Canaan Competition
Canaan's competitive analysis is the process of researching and evaluating its competitive landscape. It provides an understanding of the strengths, weaknesses, opportunities, and threats (SWOT) faced by Canaan Inc in relation to its competition. Canaan's competition analysis typically involves several steps, including:- Identifying the key players in the market: This involves identifying the major competitors of Canaan in the market, both direct and indirect, as well as new entrants and disruptive technologies.
- Assessing the strengths and weaknesses of each competitor: This involves evaluating each competitor's strengths and weaknesses in areas such as product offerings, market share, brand recognition, financial performance, and distribution channels.
- Understanding the competitive environment: This involves evaluating the regulatory environment, economic conditions, and other factors that may impact Canaan's competitive landscape.
- Identifying opportunities and threats: This involves using the information gathered during the analysis to identify opportunities and threats to Canaan Inc, and developing a strategy to address them.
- Evaluating the competitive landscape: This involves understanding the competitive dynamics of the market, such as pricing, marketing, and distribution strategies, as well as analyzing the competitive advantage of each competitor.
Complement your Canaan position
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Check out Canaan Correlation with its peers.You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Will Stock sector continue expanding? Could Canaan diversify its offerings? Factors like these will boost the valuation of Canaan. Projected growth potential of Canaan fundamentally drives upward valuation adjustments. Accurate valuation requires analyzing both current fundamentals and future growth trajectories. Every Canaan data point contributes insight, yet successful analysis hinges on identifying the most consequential variables.
The market value of Canaan Inc is measured differently than its book value, which is the value of Canaan that is recorded on the company's balance sheet. Investors also form their own opinion of Canaan's value that differs from its market value or its book value, called intrinsic value, which is Canaan's true underlying value. Seasoned market participants apply comprehensive analytical frameworks to derive fundamental worth and identify mispriced opportunities. Because Canaan's market value can be influenced by many factors that don't directly affect Canaan's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
It's important to distinguish between Canaan's intrinsic value and market price, which are calculated using different methodologies. Investment decisions regarding Canaan should consider multiple factors including financial performance, growth metrics, competitive position, and professional analysis. Meanwhile, Canaan's quoted price indicates the marketplace figure where supply meets demand through bilateral consent.