Medicenna Change In Cash from 2010 to 2024
| MDNA Stock | CAD 1.79 0.07 4.07% |
Change In Cash | First Reported 2015-06-30 | Previous Quarter 18.6 M | Current Value -5.2 M | Quarterly Volatility 7 M |
Check Medicenna Therapeutics financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Medicenna Therapeutics' main balance sheet or income statement drivers, such as Depreciation And Amortization of 4.3 K, Interest Expense of 14 M or Selling General Administrative of 4.2 M, as well as many indicators such as Price To Sales Ratio of 0.0, Dividend Yield of 0.0 or PTB Ratio of 25.5. Medicenna financial statements analysis is a perfect complement when working with Medicenna Therapeutics Valuation or Volatility modules.
Medicenna | Change In Cash |
Pair Trading with Medicenna Therapeutics
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 Medicenna Therapeutics 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 Medicenna Therapeutics will appreciate offsetting losses from the drop in the long position's value.Moving against Medicenna Stock
| 0.66 | BNS | Bank of Nova Scotia | PairCorr |
| 0.45 | RY-PS | Royal Bank | PairCorr |
| 0.41 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.39 | RY-PM | Royal Bank | PairCorr |
| 0.35 | RY | Royal Bank | PairCorr |
The ability to find closely correlated positions to Medicenna Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Medicenna Therapeutics 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 Medicenna Therapeutics - 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 Medicenna Therapeutics Corp to buy it.
The correlation of Medicenna Therapeutics 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 Medicenna Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Medicenna Therapeutics 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 Medicenna Therapeutics 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.Other Information on Investing in Medicenna Stock
Medicenna Therapeutics financial ratios help investors to determine whether Medicenna 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 Medicenna with respect to the benefits of owning Medicenna Therapeutics security.