Canadian Banc Corp Stock Market Value
| BK Stock | CAD 11.96 0.13 1.08% |
| Symbol | Bank |
Canadian Banc Corp Price To Book Ratio
Bank of New York '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 Bank of New York'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 Bank of New York.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Bank of New York on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Banc Corp or generate 0.0% return on investment in Bank of New York over 180 days. Bank of New York is related to or competes with Financial, Life Banc, Global Dividend, Brompton Split, and E Split. Canadian Banc Corp. is a close-ended equity mutual fund launched by Quadravest Inc More
Bank of New York 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 Bank of New York'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 Canadian Banc Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4404 | |||
| Information Ratio | 0.1166 | |||
| Maximum Drawdown | 2.44 | |||
| Value At Risk | (0.51) | |||
| Potential Upside | 1.11 |
Bank of New York Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bank of New York's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bank of New York's standard deviation. In reality, there are many statistical measures that can use Bank of New York historical prices to predict the future Bank of New York's volatility.| Risk Adjusted Performance | 0.2764 | |||
| Jensen Alpha | 0.1469 | |||
| Total Risk Alpha | 0.0984 | |||
| Sortino Ratio | 0.1322 | |||
| Treynor Ratio | 0.7509 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bank of New York's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Canadian Banc Corp Backtested Returns
As of now, Bank Stock is very steady. Canadian Banc Corp secures Sharpe Ratio (or Efficiency) of 0.37, which signifies that the company had a 0.37% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Canadian Banc Corp, which you can use to evaluate the volatility of the firm. Please confirm Bank of New York's Risk Adjusted Performance of 0.2764, mean deviation of 0.3733, and Coefficient Of Variation of 271.99 to double-check if the risk estimate we provide is consistent with the expected return of 0.18%. Bank of New York has a performance score of 28 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.23, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Bank of New York's returns are expected to increase less than the market. However, during the bear market, the loss of holding Bank of New York is expected to be smaller as well. Canadian Banc Corp right now shows a risk of 0.49%. Please confirm Canadian Banc Corp maximum drawdown, as well as the relationship between the expected short fall and rate of daily change , to decide if Canadian Banc Corp will be following its price patterns.
Auto-correlation | 0.82 |
Very good predictability
Canadian Banc Corp has very good predictability. Overlapping area represents the amount of predictability between Bank of New York time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 Canadian Banc Corp price movement. The serial correlation of 0.82 indicates that around 82.0% of current Bank of New York price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.82 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Canadian Banc Corp lagged returns against current returns
Autocorrelation, which is Bank of New York 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 Bank of New York's stock expected returns. We can calculate the autocorrelation of Bank of New York returns to help us make a trade decision. For example, suppose you find that Bank of New York 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 |
Bank of New York 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 Bank of New York stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bank of New York stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bank of New York stock over time.
Current vs Lagged Prices |
| Timeline |
Bank of New York Lagged Returns
When evaluating Bank of New York's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bank of New York stock have on its future price. Bank of New York 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, Bank of New York autocorrelation shows the relationship between Bank of New York stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Banc Corp.
Regressed Prices |
| Timeline |
Pair Trading with Bank of New York
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 Bank of New York 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 Bank of New York will appreciate offsetting losses from the drop in the long position's value.Moving together with Bank Stock
| 0.85 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.86 | RY | Royal Bank Earnings Call This Week | PairCorr |
| 0.84 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.8 | TD-PFI | Toronto Dominion Bank Earnings Call This Week | PairCorr |
Moving against Bank Stock
| 0.43 | TD | Toronto Dominion Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Bank of New York could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bank of New York 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 Bank of New York - 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 Canadian Banc Corp to buy it.
The correlation of Bank of New York 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 Bank of New York moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Banc Corp 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 Bank of New York 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 Bank Stock
Bank of New York financial ratios help investors to determine whether Bank 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 Bank with respect to the benefits of owning Bank of New York security.