Cascades Stock Market Value
| CAS Stock | CAD 11.15 0.11 1.00% |
| Symbol | Cascades |
Cascades Price To Book Ratio
Cascades '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 Cascades' 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 Cascades.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Cascades on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Cascades or generate 0.0% return on investment in Cascades over 30 days. Cascades is related to or competes with Canfor, Boralex, Stella Jones, S A P, and Transcontinental. Cascades Inc. produces, converts, and markets packaging and tissue products in Canada, the United States, Italy, and int... More
Cascades 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 Cascades' 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 Cascades upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.12 | |||
| Information Ratio | 0.1601 | |||
| Maximum Drawdown | 5.77 | |||
| Value At Risk | (1.75) | |||
| Potential Upside | 3.18 |
Cascades Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cascades' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cascades' standard deviation. In reality, there are many statistical measures that can use Cascades historical prices to predict the future Cascades' volatility.| Risk Adjusted Performance | 0.1856 | |||
| Jensen Alpha | 0.2895 | |||
| Total Risk Alpha | 0.1416 | |||
| Sortino Ratio | 0.202 | |||
| Treynor Ratio | 0.8759 |
Cascades Backtested Returns
Cascades appears to be very steady, given 3 months investment horizon. Cascades secures Sharpe Ratio (or Efficiency) of 0.23, which signifies that the company had a 0.23% return per unit of risk over the last 3 months. We have found thirty technical indicators for Cascades, which you can use to evaluate the volatility of the firm. Please makes use of Cascades' Downside Deviation of 1.12, mean deviation of 1.14, and Risk Adjusted Performance of 0.1856 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Cascades holds a performance score of 17. The firm shows a Beta (market volatility) of 0.37, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cascades' returns are expected to increase less than the market. However, during the bear market, the loss of holding Cascades is expected to be smaller as well. Please check Cascades' maximum drawdown, accumulation distribution, relative strength index, as well as the relationship between the semi variance and day typical price , to make a quick decision on whether Cascades' price patterns will revert.
Auto-correlation | 0.51 |
Modest predictability
Cascades has modest predictability. Overlapping area represents the amount of predictability between Cascades time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 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 Cascades price movement. The serial correlation of 0.51 indicates that about 51.0% of current Cascades price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Cascades lagged returns against current returns
Autocorrelation, which is Cascades 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 Cascades' stock expected returns. We can calculate the autocorrelation of Cascades returns to help us make a trade decision. For example, suppose you find that Cascades 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 |
Cascades 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 Cascades stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cascades stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cascades stock over time.
Current vs Lagged Prices |
| Timeline |
Cascades Lagged Returns
When evaluating Cascades' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cascades stock have on its future price. Cascades 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, Cascades autocorrelation shows the relationship between Cascades stock current value and its past values and can show if there is a momentum factor associated with investing in Cascades.
Regressed Prices |
| Timeline |
Pair Trading with Cascades
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 Cascades 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 Cascades will appreciate offsetting losses from the drop in the long position's value.Moving together with Cascades Stock
| 0.74 | AG | First Majestic Silver | PairCorr |
| 0.88 | IE | Ivanhoe Energy | PairCorr |
| 0.92 | FDY | Faraday Copper Corp | PairCorr |
Moving against Cascades Stock
The ability to find closely correlated positions to Cascades could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cascades 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 Cascades - 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 Cascades to buy it.
The correlation of Cascades 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 Cascades moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cascades 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 Cascades 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 Cascades Stock
Cascades financial ratios help investors to determine whether Cascades 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 Cascades with respect to the benefits of owning Cascades security.