Ceco Environmental Corp Stock Market Value
| CECO Stock | USD 31.36 1.16 3.84% |
| Symbol | CECO |
CECO Environmental Corp Price To Book Ratio
Is Industrial Machinery & Supplies & Components 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 CECO Environmental. If investors know CECO 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 CECO Environmental 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 (0.34) | Earnings Share 0.33 | Revenue Per Share 15.853 | Quarterly Revenue Growth (0.09) | Return On Assets 0.0424 |
The market value of CECO Environmental Corp is measured differently than its book value, which is the value of CECO that is recorded on the company's balance sheet. Investors also form their own opinion of CECO Environmental's value that differs from its market value or its book value, called intrinsic value, which is CECO Environmental'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 CECO Environmental's market value can be influenced by many factors that don't directly affect CECO Environmental'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 CECO Environmental's value and its price as these two are different measures arrived at by different means. Investors typically determine if CECO Environmental is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CECO Environmental'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.
CECO Environmental '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 CECO Environmental'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 CECO Environmental.
| 08/26/2024 |
| 11/24/2024 |
If you would invest 0.00 in CECO Environmental on August 26, 2024 and sell it all today you would earn a total of 0.00 from holding CECO Environmental Corp or generate 0.0% return on investment in CECO Environmental over 90 days. CECO Environmental is related to or competes with Federal Signal, Zurn Elkay, Fuel Tech, and 374Water Common. Perdoceo Education Corporation operates colleges, institutions, and universities that provide education to student popul... More
CECO Environmental 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 CECO Environmental'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 CECO Environmental Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.35 | |||
| Information Ratio | 0.0374 | |||
| Maximum Drawdown | 18.98 | |||
| Value At Risk | (3.36) | |||
| Potential Upside | 4.65 |
CECO Environmental Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CECO Environmental's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CECO Environmental's standard deviation. In reality, there are many statistical measures that can use CECO Environmental historical prices to predict the future CECO Environmental's volatility.| Risk Adjusted Performance | 0.0658 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | 0.0382 | |||
| Treynor Ratio | 0.1112 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CECO Environmental'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.
CECO Environmental Corp Backtested Returns
CECO Environmental appears to be not too volatile, given 3 months investment horizon. CECO Environmental Corp retains Efficiency (Sharpe Ratio) of 0.0596, which signifies that the company had a 0.0596% return per unit of risk over the last 3 months. We have found thirty technical indicators for CECO Environmental, which you can use to evaluate the volatility of the firm. Please makes use of CECO Environmental's coefficient of variation of 1321.75, and Market Risk Adjusted Performance of 0.1212 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, CECO Environmental holds a performance score of 4. The firm owns a Beta (Systematic Risk) of 2.24, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, CECO Environmental will likely underperform. Please check CECO Environmental's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether CECO Environmental's current price history will revert.
Auto-correlation | -0.29 |
Weak reverse predictability
CECO Environmental Corp has weak reverse predictability. Overlapping area represents the amount of predictability between CECO Environmental time series from 26th of August 2024 to 10th of October 2024 and 10th of October 2024 to 24th 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 CECO Environmental Corp price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current CECO Environmental price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 4.94 |
CECO Environmental Corp lagged returns against current returns
Autocorrelation, which is CECO Environmental 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 CECO Environmental's stock expected returns. We can calculate the autocorrelation of CECO Environmental returns to help us make a trade decision. For example, suppose you find that CECO Environmental 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 |
CECO Environmental 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 CECO Environmental stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CECO Environmental stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CECO Environmental stock over time.
Current vs Lagged Prices |
| Timeline |
CECO Environmental Lagged Returns
When evaluating CECO Environmental's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CECO Environmental stock have on its future price. CECO Environmental 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, CECO Environmental autocorrelation shows the relationship between CECO Environmental stock current value and its past values and can show if there is a momentum factor associated with investing in CECO Environmental Corp.
Regressed Prices |
| Timeline |
Pair Trading with CECO Environmental
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 CECO Environmental 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 CECO Environmental will appreciate offsetting losses from the drop in the long position's value.Moving together with CECO Stock
Moving against CECO Stock
| 0.42 | PCTTU | Purecycle Technologies | PairCorr |
| 0.4 | SCWO | 374Water Common Stock | PairCorr |
| 0.39 | ERII | Energy Recovery | PairCorr |
| 0.39 | J | Jacobs Solutions | PairCorr |
| 0.36 | PCTTW | PureCycle Technologies | PairCorr |
The ability to find closely correlated positions to CECO Environmental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CECO Environmental 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 CECO Environmental - 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 CECO Environmental Corp to buy it.
The correlation of CECO Environmental 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 CECO Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CECO Environmental 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 CECO Environmental 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 CECO Environmental Correlation, CECO Environmental Volatility and CECO Environmental Alpha and Beta module to complement your research on CECO Environmental. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
CECO Environmental 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.