Western Graham Net Net from 2010 to 2024
| WRN Stock | CAD 1.57 0.01 0.63% |
Graham Net Net | First Reported 2010-12-31 | Previous Quarter 0.17271078 | Current Value 0.11 | Quarterly Volatility 0.10561691 |
Check Western Copper financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Western Copper's main balance sheet or income statement drivers, such as Interest Expense of 99.1 K, Selling General Administrative of 3 M or Other Operating Expenses of 3.5 M, as well as many indicators such as Price To Sales Ratio of 0.0, Dividend Yield of 0.0 or PTB Ratio of 1.9. Western financial statements analysis is a perfect complement when working with Western Copper Valuation or Volatility modules.
Western | Graham Net Net |
Pair Trading with Western Copper
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 Western Copper 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 Western Copper will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Western Copper could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Western Copper 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 Western Copper - 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 Western Copper and to buy it.
The correlation of Western Copper 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 Western Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Western Copper 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 Western Copper 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 Western Copper Correlation against competitors. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.