Bird Construction Stock Market Value
| BDT Stock | CAD 30.64 0.72 2.41% |
| Symbol | Bird |
Bird Construction Price To Book Ratio
Bird Construction '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 Bird Construction'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 Bird Construction.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Bird Construction on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Bird Construction or generate 0.0% return on investment in Bird Construction over 30 days. Bird Construction is related to or competes with Aecon, Mullen, Wajax, Exchange Income, and Extendicare. Bird Construction Inc. operates as a general contractor in Canada More
Bird Construction 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 Bird Construction'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 Bird Construction upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.24 | |||
| Information Ratio | 0.1152 | |||
| Maximum Drawdown | 20.64 | |||
| Value At Risk | (2.86) | |||
| Potential Upside | 3.79 |
Bird Construction Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bird Construction's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bird Construction's standard deviation. In reality, there are many statistical measures that can use Bird Construction historical prices to predict the future Bird Construction's volatility.| Risk Adjusted Performance | 0.1308 | |||
| Jensen Alpha | 0.5075 | |||
| Total Risk Alpha | 0.0079 | |||
| Sortino Ratio | 0.142 | |||
| Treynor Ratio | (0.73) |
Bird Construction Backtested Returns
Bird Construction appears to be not too volatile, given 3 months investment horizon. Bird Construction secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of risk over the last 3 months. By analyzing Bird Construction's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please makes use of Bird Construction's Downside Deviation of 2.24, mean deviation of 1.91, and Risk Adjusted Performance of 0.1308 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Bird Construction holds a performance score of 14. The firm shows a Beta (market volatility) of -0.6, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Bird Construction are expected to decrease at a much lower rate. During the bear market, Bird Construction is likely to outperform the market. Please check Bird Construction's treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Bird Construction's price patterns will revert.
Auto-correlation | -0.5 |
Modest reverse predictability
Bird Construction has modest reverse predictability. Overlapping area represents the amount of predictability between Bird Construction time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th of November 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 Bird Construction price movement. The serial correlation of -0.5 indicates that about 50.0% of current Bird Construction price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.5 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.5 |
Bird Construction lagged returns against current returns
Autocorrelation, which is Bird Construction 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 Bird Construction's stock expected returns. We can calculate the autocorrelation of Bird Construction returns to help us make a trade decision. For example, suppose you find that Bird Construction 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 |
Bird Construction 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 Bird Construction stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bird Construction stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bird Construction stock over time.
Current vs Lagged Prices |
| Timeline |
Bird Construction Lagged Returns
When evaluating Bird Construction's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bird Construction stock have on its future price. Bird Construction 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, Bird Construction autocorrelation shows the relationship between Bird Construction stock current value and its past values and can show if there is a momentum factor associated with investing in Bird Construction.
Regressed Prices |
| Timeline |
Pair Trading with Bird Construction
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 Bird Construction 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 Bird Construction will appreciate offsetting losses from the drop in the long position's value.Moving together with Bird Stock
| 0.73 | RY | Royal Bank | PairCorr |
| 0.73 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.67 | BNS | Bank of Nova Scotia Earnings Call This Week | PairCorr |
Moving against Bird Stock
The ability to find closely correlated positions to Bird Construction could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bird Construction 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 Bird Construction - 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 Bird Construction to buy it.
The correlation of Bird Construction 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 Bird Construction moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bird Construction 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 Bird Construction 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 Bird Stock
Bird Construction financial ratios help investors to determine whether Bird 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 Bird with respect to the benefits of owning Bird Construction security.