Cameco Corp Stock Market Value
| CCO Stock | CAD 84.01 1.07 1.26% |
| Symbol | Cameco |
Cameco Corp Price To Book Ratio
Cameco Corp '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 Cameco Corp'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 Cameco Corp.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Cameco Corp on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Cameco Corp or generate 0.0% return on investment in Cameco Corp over 30 days. Cameco Corp is related to or competes with Skyharbour Resources, IShares Canadian, Altagas Cum, European Residential, RBC Discount, and IShares SPTSX. The company operates in two segments, Uranium and Fuel Services More
Cameco Corp 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 Cameco Corp'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 Cameco Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.23 | |||
| Information Ratio | 0.194 | |||
| Maximum Drawdown | 12.63 | |||
| Value At Risk | (2.93) | |||
| Potential Upside | 5.6 |
Cameco Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cameco Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cameco Corp's standard deviation. In reality, there are many statistical measures that can use Cameco Corp historical prices to predict the future Cameco Corp's volatility.| Risk Adjusted Performance | 0.1939 | |||
| Jensen Alpha | 0.6023 | |||
| Total Risk Alpha | 0.2169 | |||
| Sortino Ratio | 0.229 | |||
| Treynor Ratio | 2.57 |
Cameco Corp Backtested Returns
Cameco Corp appears to be very steady, given 3 months investment horizon. Cameco Corp secures Sharpe Ratio (or Efficiency) of 0.26, which signifies that the company had a 0.26% return per unit of risk over the last 3 months. By analyzing Cameco Corp's technical indicators, you can evaluate if the expected return of 0.67% is justified by implied risk. Please makes use of Cameco Corp's Downside Deviation of 2.23, mean deviation of 1.98, and Risk Adjusted Performance of 0.1939 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Cameco Corp holds a performance score of 20. The firm shows a Beta (market volatility) of 0.25, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cameco Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cameco Corp is expected to be smaller as well. Please check Cameco Corp's jensen alpha, potential upside, accumulation distribution, as well as the relationship between the treynor ratio and expected short fall , to make a quick decision on whether Cameco Corp's price patterns will revert.
Auto-correlation | -0.46 |
Modest reverse predictability
Cameco Corp has modest reverse predictability. Overlapping area represents the amount of predictability between Cameco Corp time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Cameco Corp price movement. The serial correlation of -0.46 indicates that about 46.0% of current Cameco Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 17.84 |
Cameco Corp lagged returns against current returns
Autocorrelation, which is Cameco Corp 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 Cameco Corp's stock expected returns. We can calculate the autocorrelation of Cameco Corp returns to help us make a trade decision. For example, suppose you find that Cameco Corp 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 |
Cameco Corp 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 Cameco Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cameco Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cameco Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Cameco Corp Lagged Returns
When evaluating Cameco Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cameco Corp stock have on its future price. Cameco Corp 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, Cameco Corp autocorrelation shows the relationship between Cameco Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Cameco Corp.
Regressed Prices |
| Timeline |
Pair Trading with Cameco Corp
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 Cameco Corp 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 Cameco Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Cameco Stock
Moving against Cameco Stock
The ability to find closely correlated positions to Cameco Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cameco Corp 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 Cameco Corp - 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 Cameco Corp to buy it.
The correlation of Cameco Corp 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 Cameco Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cameco 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 Cameco Corp 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 Cameco Corp Correlation, Cameco Corp Volatility and Cameco Corp Alpha and Beta module to complement your research on Cameco Corp. To learn how to invest in Cameco Stock, please use our How to Invest in Cameco Corp guide.You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Cameco Corp 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.