Pan Graham Number from 2010 to 2024
| PAAS Stock | CAD 30.83 0.39 1.28% |
Graham Number | First Reported 2010-12-31 | Previous Quarter 10.20656619 | Current Value 9.5 | Quarterly Volatility 9.15838898 |
Check Pan American financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Pan American's main balance sheet or income statement drivers, such as Interest Expense of 54 M, Total Revenue of 2.4 B or Gross Profit of 733.7 M, as well as many indicators such as Price To Sales Ratio of 2.19, Dividend Yield of 0.0127 or PTB Ratio of 1.06. Pan financial statements analysis is a perfect complement when working with Pan American Valuation or Volatility modules.
Pan | Graham Number |
Pair Trading with Pan American
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 Pan American 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 Pan American will appreciate offsetting losses from the drop in the long position's value.Moving together with Pan Stock
| 0.97 | AG | First Majestic Silver | PairCorr |
| 0.84 | IE | Ivanhoe Energy | PairCorr |
| 0.8 | FDY | Faraday Copper Corp | PairCorr |
Moving against Pan Stock
The ability to find closely correlated positions to Pan American could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pan American 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 Pan American - 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 Pan American Silver to buy it.
The correlation of Pan American 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 Pan American moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pan American Silver 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 Pan American 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 the analysis of Pan American Correlation against competitors. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.