Canada Goose Holdings Stock Beta
| GOOS Stock | CAD 13.10 0.15 1.13% |
Canada Goose Holdings fundamentals help investors to digest information that contributes to Canada Goose's financial success or failures. It also enables traders to predict the movement of Canada Stock. The fundamental analysis module provides a way to measure Canada Goose's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Canada Goose stock.
Canada | Beta |
Canada Goose Holdings Company Beta Analysis
Canada Goose's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current Canada Goose Beta | 1.29 |
Most of Canada Goose's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Canada Goose Holdings is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Canada Beta Driver Correlations
Understanding the fundamental principles of building solid financial models for Canada Goose is extremely important. It helps to project a fair market value of Canada Stock properly, considering its historical fundamentals such as Beta. Since Canada Goose's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Canada Goose's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Canada Goose's interrelated accounts and indicators.
Click cells to compare fundamentals
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, Canada Goose Holdings has a Beta of 1.291. This is 53.69% higher than that of the Textiles, Apparel & Luxury Goods sector and 20.65% higher than that of the Consumer Discretionary industry. The beta for all Canada stocks is notably lower than that of the firm.
Canada Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Canada Goose's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Canada Goose could also be used in its relative valuation, which is a method of valuing Canada Goose by comparing valuation metrics of similar companies.Canada Goose is currently under evaluation in beta category among its peers.
Canada Goose Current Valuation Drivers
We derive many important indicators used in calculating different scores of Canada Goose from analyzing Canada Goose's financial statements. These drivers represent accounts that assess Canada Goose's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Canada Goose's important valuation drivers and their relationship over time.
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Market Cap | 3.1B | 5.4B | 3.6B | 2.7B | 1.7B | 2.6B | |
| Enterprise Value | 3.4B | 5.6B | 3.9B | 3.2B | 2.3B | 3.0B |
As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Canada Goose will likely underperform.
Canada Fundamentals
| Return On Equity | 0.2 | ||||
| Return On Asset | 0.0578 | ||||
| Profit Margin | 0.05 % | ||||
| Operating Margin | 0.01 % | ||||
| Current Valuation | 2.09 B | ||||
| Shares Outstanding | 45.8 M | ||||
| Shares Owned By Insiders | 1.56 % | ||||
| Shares Owned By Institutions | 83.40 % | ||||
| Number Of Shares Shorted | 1.39 M | ||||
| Price To Earning | 35.84 X | ||||
| Price To Book | 3.54 X | ||||
| Price To Sales | 0.96 X | ||||
| Revenue | 1.34 B | ||||
| Gross Profit | 733.6 M | ||||
| EBITDA | 251.7 M | ||||
| Net Income | 58.4 M | ||||
| Cash And Equivalents | 160.1 M | ||||
| Cash Per Share | 1.45 X | ||||
| Total Debt | 728.4 M | ||||
| Debt To Equity | 1.25 % | ||||
| Current Ratio | 3.39 X | ||||
| Book Value Per Share | 3.70 X | ||||
| Cash Flow From Operations | 164.6 M | ||||
| Short Ratio | 4.20 X | ||||
| Earnings Per Share | 0.58 X | ||||
| Price To Earnings To Growth | 4.77 X | ||||
| Target Price | 12.84 | ||||
| Number Of Employees | 4.46 K | ||||
| Beta | 1.29 | ||||
| Market Capitalization | 1.27 B | ||||
| Total Asset | 1.48 B | ||||
| Retained Earnings | 252.5 M | ||||
| Working Capital | 430.9 M | ||||
| Current Asset | 401.24 M | ||||
| Current Liabilities | 99.53 M | ||||
| Net Asset | 1.48 B |
About Canada Goose Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Canada Goose Holdings's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Canada Goose using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Canada Goose Holdings based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Canada Goose
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 Canada Goose 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 Canada Goose will appreciate offsetting losses from the drop in the long position's value.Moving against Canada Stock
| 0.6 | AMZN | Amazon CDR | PairCorr |
| 0.58 | WMT | Walmart Inc CDR | PairCorr |
| 0.55 | TSLA | Tesla Inc CDR | PairCorr |
| 0.47 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.42 | NVDA | NVIDIA CDR | PairCorr |
The ability to find closely correlated positions to Canada Goose could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canada Goose 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 Canada Goose - 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 Canada Goose Holdings to buy it.
The correlation of Canada Goose 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 Canada Goose moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canada Goose Holdings 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 Canada Goose 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canada Goose Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.