Alithya Group Inc Stock Market Value
| ALYA Stock | CAD 1.61 0.06 3.59% |
| Symbol | Alithya |
Alithya Group inc Price To Book Ratio
Alithya Group 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Alithya Group's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Alithya Group.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Alithya Group on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Alithya Group inc or generate 0.0% return on investment in Alithya Group over 30 days. Alithya Group is related to or competes with Coveo Solutions, and Haivision Systems. Alithya Group Inc. provides strategy and digital technology services in Canada, the United States, and Europe More
Alithya Group Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Alithya Group's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Alithya Group inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 10.15 | |||
| Value At Risk | (4.52) | |||
| Potential Upside | 2.86 |
Alithya Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alithya Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alithya Group's standard deviation. In reality, there are many statistical measures that can use Alithya Group historical prices to predict the future Alithya Group's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.62) | |||
| Treynor Ratio | (0.51) |
Alithya Group inc Backtested Returns
Alithya Group inc secures Sharpe Ratio (or Efficiency) of -0.0415, which signifies that the company had a -0.0415% return per unit of risk over the last 3 months. Alithya Group inc exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alithya Group's Risk Adjusted Performance of (0.06), mean deviation of 1.72, and Standard Deviation of 2.37 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.44, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Alithya Group's returns are expected to increase less than the market. However, during the bear market, the loss of holding Alithya Group is expected to be smaller as well. At this point, Alithya Group inc has a negative expected return of -0.0893%. Please make sure to confirm Alithya Group's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Alithya Group inc performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.36 |
Poor reverse predictability
Alithya Group inc has poor reverse predictability. Overlapping area represents the amount of predictability between Alithya Group time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Alithya Group inc price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Alithya Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Alithya Group inc lagged returns against current returns
Autocorrelation, which is Alithya Group stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Alithya Group's stock expected returns. We can calculate the autocorrelation of Alithya Group returns to help us make a trade decision. For example, suppose you find that Alithya Group has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Alithya Group regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Alithya Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alithya Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alithya Group stock over time.
Current vs Lagged Prices |
| Timeline |
Alithya Group Lagged Returns
When evaluating Alithya Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alithya Group stock have on its future price. Alithya Group autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Alithya Group autocorrelation shows the relationship between Alithya Group stock current value and its past values and can show if there is a momentum factor associated with investing in Alithya Group inc.
Regressed Prices |
| Timeline |
Pair Trading with Alithya Group
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 Alithya Group 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 Alithya Group will appreciate offsetting losses from the drop in the long position's value.Moving against Alithya Stock
| 0.59 | AMZN | Amazon CDR | PairCorr |
| 0.47 | BOFA | Bank of America | PairCorr |
| 0.41 | JPM | JPMorgan Chase | PairCorr |
| 0.37 | GOOG | Alphabet CDR | PairCorr |
| 0.33 | TD-PFD | Toronto Dominion Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Alithya Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alithya Group 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 Alithya Group - 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 Alithya Group inc to buy it.
The correlation of Alithya Group 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 Alithya Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alithya Group inc 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 Alithya Group 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 Alithya Stock
Alithya Group financial ratios help investors to determine whether Alithya 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 Alithya with respect to the benefits of owning Alithya Group security.