Canadian Natural (Germany) Market Value
| CRC Stock | EUR 32.30 0.78 2.36% |
| Symbol | Canadian |
Canadian Natural '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 Canadian Natural'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 Canadian Natural.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Canadian Natural on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Canadian Natural Resources or generate 0.0% return on investment in Canadian Natural over 720 days. Canadian Natural is related to or competes with Alibaba Group, WOODSIDE ENE, and Woodside Energy. Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas... More
Canadian Natural 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 Canadian Natural'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 Canadian Natural Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 6.81 | |||
| Value At Risk | (2.95) | |||
| Potential Upside | 2.48 |
Canadian Natural Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Natural's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Natural's standard deviation. In reality, there are many statistical measures that can use Canadian Natural historical prices to predict the future Canadian Natural's volatility.| Risk Adjusted Performance | 5.0E-4 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.21) |
Canadian Natural Res Backtested Returns
Canadian Natural Res secures Sharpe Ratio (or Efficiency) of -0.0022, which signifies that the company had a -0.0022% return per unit of risk over the last 3 months. Canadian Natural Resources exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Canadian Natural's Standard Deviation of 1.64, mean deviation of 1.34, and Risk Adjusted Performance of 5.0E-4 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.0996, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canadian Natural's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canadian Natural is expected to be smaller as well. At this point, Canadian Natural Res has a negative expected return of -0.0036%. Please make sure to confirm Canadian Natural's information ratio, total risk alpha, potential upside, as well as the relationship between the jensen alpha and treynor ratio , to decide if Canadian Natural Res performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.09 |
Virtually no predictability
Canadian Natural Resources has virtually no predictability. Overlapping area represents the amount of predictability between Canadian Natural time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 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 Canadian Natural Res price movement. The serial correlation of 0.09 indicates that less than 9.0% of current Canadian Natural price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 5.92 |
Canadian Natural Res lagged returns against current returns
Autocorrelation, which is Canadian Natural 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 Canadian Natural's stock expected returns. We can calculate the autocorrelation of Canadian Natural returns to help us make a trade decision. For example, suppose you find that Canadian Natural 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 |
Canadian Natural 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 Canadian Natural stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Natural stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Natural stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Natural Lagged Returns
When evaluating Canadian Natural's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Natural stock have on its future price. Canadian Natural 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, Canadian Natural autocorrelation shows the relationship between Canadian Natural stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Natural Resources.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Canadian Stock
When determining whether Canadian Natural Res is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Canadian Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Canadian Natural Resources Stock. Highlighted below are key reports to facilitate an investment decision about Canadian Natural Resources Stock:Check out Canadian Natural Correlation, Canadian Natural Volatility and Canadian Natural Alpha and Beta module to complement your research on Canadian Natural. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Canadian Natural 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.