Boyd Group Services Stock Market Value
| BYD Stock | CAD 218.47 2.18 0.99% |
| Symbol | Boyd |
Boyd Group Services Price To Book Ratio
Boyd 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 Boyd 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 Boyd Group.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in Boyd Group on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding Boyd Group Services or generate 0.0% return on investment in Boyd Group over 360 days. Boyd Group is related to or competes with Colliers International, Premium Brands, FirstService Corp, Enghouse Systems, and Ritchie Bros. Boyd Group Services Inc., together with its subsidiaries, operates non-franchised collision repair centers in North Amer... More
Boyd 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 Boyd 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 Boyd Group Services upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 6.08 | |||
| Value At Risk | (2.56) | |||
| Potential Upside | 1.85 |
Boyd Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Boyd Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Boyd Group's standard deviation. In reality, there are many statistical measures that can use Boyd Group historical prices to predict the future Boyd Group's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | 0.0184 | |||
| Total Risk Alpha | (0.18) | |||
| Treynor Ratio | 0.0511 |
Boyd Group Services Backtested Returns
Boyd Group Services secures Sharpe Ratio (or Efficiency) of -0.0567, which signifies that the company had a -0.0567% return per unit of risk over the last 3 months. Boyd Group Services exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Boyd Group's Standard Deviation of 1.3, mean deviation of 0.9979, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.54, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Boyd Group are expected to decrease at a much lower rate. During the bear market, Boyd Group is likely to outperform the market. At this point, Boyd Group Services has a negative expected return of -0.0748%. Please make sure to confirm Boyd Group's rate of daily change, and the relationship between the kurtosis and market facilitation index , to decide if Boyd Group Services performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.04 |
Very weak reverse predictability
Boyd Group Services has very weak reverse predictability. Overlapping area represents the amount of predictability between Boyd Group time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd 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 Boyd Group Services price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Boyd Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 320.03 |
Boyd Group Services lagged returns against current returns
Autocorrelation, which is Boyd 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 Boyd Group's stock expected returns. We can calculate the autocorrelation of Boyd Group returns to help us make a trade decision. For example, suppose you find that Boyd 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 |
Boyd 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 Boyd Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Boyd Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Boyd Group stock over time.
Current vs Lagged Prices |
| Timeline |
Boyd Group Lagged Returns
When evaluating Boyd Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Boyd Group stock have on its future price. Boyd 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, Boyd Group autocorrelation shows the relationship between Boyd Group stock current value and its past values and can show if there is a momentum factor associated with investing in Boyd Group Services.
Regressed Prices |
| Timeline |
Pair Trading with Boyd 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 Boyd 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 Boyd Group will appreciate offsetting losses from the drop in the long position's value.Moving against Boyd Stock
The ability to find closely correlated positions to Boyd 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 Boyd 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 Boyd 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 Boyd Group Services to buy it.
The correlation of Boyd 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 Boyd Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boyd Group Services 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 Boyd 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 Boyd Stock
Boyd Group financial ratios help investors to determine whether Boyd 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 Boyd with respect to the benefits of owning Boyd Group security.