CARGOJET INC (Germany) Market Value
| CJ8A Stock | EUR 80.50 0.50 0.63% |
| Symbol | CARGOJET |
CARGOJET INC '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 CARGOJET INC'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 CARGOJET INC.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in CARGOJET INC on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding CARGOJET INC VAR or generate 0.0% return on investment in CARGOJET INC over 180 days. CARGOJET INC is related to or competes with Silicon Motion, SEKISUI CHEMICAL, INTERCONT HOTELS, Xenia Hotels, Sanyo Chemical, and AIR PRODCHEMICALS. Cargojet Inc. provides time sensitive overnight air cargo services in Canada More
CARGOJET INC 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 CARGOJET INC'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 CARGOJET INC VAR upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 11.77 | |||
| Value At Risk | (2.44) | |||
| Potential Upside | 2.89 |
CARGOJET INC Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CARGOJET INC's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CARGOJET INC's standard deviation. In reality, there are many statistical measures that can use CARGOJET INC historical prices to predict the future CARGOJET INC's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.09) |
CARGOJET INC VAR Backtested Returns
CARGOJET INC VAR secures Sharpe Ratio (or Efficiency) of -0.0711, which signifies that the company had a -0.0711% return per unit of risk over the last 3 months. CARGOJET INC VAR exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CARGOJET INC's Mean Deviation of 1.39, variance of 3.57, and Coefficient Of Variation of (2,169) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.12, which signifies a somewhat significant risk relative to the market. CARGOJET INC returns are very sensitive to returns on the market. As the market goes up or down, CARGOJET INC is expected to follow. At this point, CARGOJET INC VAR has a negative expected return of -0.13%. Please make sure to confirm CARGOJET INC's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if CARGOJET INC VAR performance from the past will be repeated in the future.
Auto-correlation | 0.27 |
Poor predictability
CARGOJET INC VAR has poor predictability. Overlapping area represents the amount of predictability between CARGOJET INC time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 CARGOJET INC VAR price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current CARGOJET INC price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | -0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 10.78 |
CARGOJET INC VAR lagged returns against current returns
Autocorrelation, which is CARGOJET INC 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 CARGOJET INC's stock expected returns. We can calculate the autocorrelation of CARGOJET INC returns to help us make a trade decision. For example, suppose you find that CARGOJET INC 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 |
CARGOJET INC 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 CARGOJET INC stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CARGOJET INC stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CARGOJET INC stock over time.
Current vs Lagged Prices |
| Timeline |
CARGOJET INC Lagged Returns
When evaluating CARGOJET INC's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CARGOJET INC stock have on its future price. CARGOJET INC 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, CARGOJET INC autocorrelation shows the relationship between CARGOJET INC stock current value and its past values and can show if there is a momentum factor associated with investing in CARGOJET INC VAR.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in CARGOJET Stock
CARGOJET INC financial ratios help investors to determine whether CARGOJET 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 CARGOJET with respect to the benefits of owning CARGOJET INC security.