Celestica Stock Market Value
| CLS Stock | CAD 116.70 5.28 4.33% |
| Symbol | Celestica |
Celestica Price To Book Ratio
Celestica '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 Celestica'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 Celestica.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Celestica on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Celestica or generate 0.0% return on investment in Celestica over 30 days. Celestica is related to or competes with Descartes Systems, CAE, CGI, Cogeco Communications, and Canfor. Celestica Inc. provides hardware platform and supply chain solutions in North America, Europe, and Asia More
Celestica 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 Celestica'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 Celestica upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.42 | |||
| Information Ratio | 0.1969 | |||
| Maximum Drawdown | 22.15 | |||
| Value At Risk | (4.33) | |||
| Potential Upside | 5.61 |
Celestica Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Celestica's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Celestica's standard deviation. In reality, there are many statistical measures that can use Celestica historical prices to predict the future Celestica's volatility.| Risk Adjusted Performance | 0.1842 | |||
| Jensen Alpha | 0.8123 | |||
| Total Risk Alpha | 0.291 | |||
| Sortino Ratio | 0.2182 | |||
| Treynor Ratio | 2.0 |
Celestica Backtested Returns
Celestica appears to be very steady, given 3 months investment horizon. Celestica secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the company had a 0.24% return per unit of risk over the last 3 months. By analyzing Celestica's technical indicators, you can evaluate if the expected return of 0.92% is justified by implied risk. Please makes use of Celestica's Risk Adjusted Performance of 0.1842, mean deviation of 2.57, and Downside Deviation of 3.42 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Celestica holds a performance score of 18. The firm shows a Beta (market volatility) of 0.43, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Celestica's returns are expected to increase less than the market. However, during the bear market, the loss of holding Celestica is expected to be smaller as well. Please check Celestica's total risk alpha, expected short fall, market facilitation index, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Celestica's price patterns will revert.
Auto-correlation | 0.52 |
Modest predictability
Celestica has modest predictability. Overlapping area represents the amount of predictability between Celestica time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Celestica price movement. The serial correlation of 0.52 indicates that about 52.0% of current Celestica price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 16.65 |
Celestica lagged returns against current returns
Autocorrelation, which is Celestica 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 Celestica's stock expected returns. We can calculate the autocorrelation of Celestica returns to help us make a trade decision. For example, suppose you find that Celestica 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 |
Celestica 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 Celestica stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Celestica stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Celestica stock over time.
Current vs Lagged Prices |
| Timeline |
Celestica Lagged Returns
When evaluating Celestica's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Celestica stock have on its future price. Celestica 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, Celestica autocorrelation shows the relationship between Celestica stock current value and its past values and can show if there is a momentum factor associated with investing in Celestica.
Regressed Prices |
| Timeline |
Pair Trading with Celestica
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 Celestica 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 Celestica will appreciate offsetting losses from the drop in the long position's value.Moving together with Celestica Stock
| 0.9 | JPM | JPMorgan Chase | PairCorr |
| 0.94 | BOFA | Bank of America | PairCorr |
| 0.89 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.89 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Celestica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Celestica 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 Celestica - 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 Celestica to buy it.
The correlation of Celestica 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 Celestica moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Celestica 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 Celestica 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 Celestica Correlation, Celestica Volatility and Celestica Alpha and Beta module to complement your research on Celestica. To learn how to invest in Celestica Stock, please use our How to Invest in Celestica guide.You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Celestica 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.