Canaan Inc Stock Market Value
CAN Stock | USD 2.01 0.11 5.79% |
Symbol | Canaan |
Canaan Inc Price To Book Ratio
Is Semiconductors & Semiconductor Equipment space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canaan. If investors know Canaan will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canaan listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.92) | Earnings Share (1.43) | Revenue Per Share | Quarterly Revenue Growth (0.03) | Return On Assets |
The market value of Canaan Inc is measured differently than its book value, which is the value of Canaan that is recorded on the company's balance sheet. Investors also form their own opinion of Canaan's value that differs from its market value or its book value, called intrinsic value, which is Canaan's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canaan's market value can be influenced by many factors that don't directly affect Canaan's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canaan's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canaan is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canaan's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Canaan '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 Canaan'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 Canaan.
12/19/2024 |
| 01/18/2025 |
If you would invest 0.00 in Canaan on December 19, 2024 and sell it all today you would earn a total of 0.00 from holding Canaan Inc or generate 0.0% return on investment in Canaan over 30 days. Canaan is related to or competes with 3D Systems, NetApp, Rigetti Computing, Logitech International, Stratasys, Desktop Metal, and HP. Canaan Inc. engages in the research, design, and sale of integrated circuit final mining equipment products by integrati... More
Canaan 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 Canaan'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 Canaan Inc upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 8.22 | |||
Information Ratio | 0.1465 | |||
Maximum Drawdown | 56.65 | |||
Value At Risk | (12.79) | |||
Potential Upside | 16.48 |
Canaan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canaan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canaan's standard deviation. In reality, there are many statistical measures that can use Canaan historical prices to predict the future Canaan's volatility.Risk Adjusted Performance | 0.1341 | |||
Jensen Alpha | 1.53 | |||
Total Risk Alpha | 1.27 | |||
Sortino Ratio | 0.1806 | |||
Treynor Ratio | (1.30) |
Canaan Inc Backtested Returns
Canaan is extremely dangerous given 3 months investment horizon. Canaan Inc secures Sharpe Ratio (or Efficiency) of 0.16, which signifies that the company had a 0.16% return per unit of risk over the last 3 months. We were able to analyze twenty-nine different technical indicators, which can help you to evaluate if expected returns of 1.64% are justified by taking the suggested risk. Use Canaan Downside Deviation of 8.22, mean deviation of 7.23, and Risk Adjusted Performance of 0.1341 to evaluate company specific risk that cannot be diversified away. Canaan holds a performance score of 12 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -1.16, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Canaan are expected to decrease by larger amounts. On the other hand, during market turmoil, Canaan is expected to outperform it. Use Canaan sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to analyze future returns on Canaan.
Auto-correlation | 0.26 |
Poor predictability
Canaan Inc has poor predictability. Overlapping area represents the amount of predictability between Canaan time series from 19th of December 2024 to 3rd of January 2025 and 3rd of January 2025 to 18th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Canaan Inc price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Canaan price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.26 | |
Spearman Rank Test | 0.03 | |
Residual Average | 0.0 | |
Price Variance | 0.04 |
Canaan Inc lagged returns against current returns
Autocorrelation, which is Canaan 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 Canaan's stock expected returns. We can calculate the autocorrelation of Canaan returns to help us make a trade decision. For example, suppose you find that Canaan 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 |
Canaan 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 Canaan stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canaan stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canaan stock over time.
Current vs Lagged Prices |
Timeline |
Canaan Lagged Returns
When evaluating Canaan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canaan stock have on its future price. Canaan 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, Canaan autocorrelation shows the relationship between Canaan stock current value and its past values and can show if there is a momentum factor associated with investing in Canaan Inc.
Regressed Prices |
Timeline |
Pair Trading with Canaan
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 Canaan 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 Canaan will appreciate offsetting losses from the drop in the long position's value.Moving together with Canaan Stock
Moving against Canaan Stock
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0.64 | WOLF | Wolfspeed Trending | PairCorr |
0.56 | ADI | Analog Devices | PairCorr |
The ability to find closely correlated positions to Canaan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canaan 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 Canaan - 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 Canaan Inc to buy it.
The correlation of Canaan 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 Canaan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canaan 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 Canaan 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 Canaan Correlation, Canaan Volatility and Canaan Alpha and Beta module to complement your research on Canaan. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Canaan technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.