Cronos Group Stock Market Value
| CRON Stock | USD 2.05 0.04 1.99% |
| Symbol | Cronos |
Cronos Group Price To Book Ratio
Is Pharmaceuticals 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 Cronos. If investors know Cronos 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 Cronos 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 0.144 | Earnings Share (0.12) | Revenue Per Share 0.267 | Quarterly Revenue Growth 0.46 | Return On Assets (0.04) |
The market value of Cronos Group is measured differently than its book value, which is the value of Cronos that is recorded on the company's balance sheet. Investors also form their own opinion of Cronos' value that differs from its market value or its book value, called intrinsic value, which is Cronos' 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 Cronos' market value can be influenced by many factors that don't directly affect Cronos' 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 Cronos' value and its price as these two are different measures arrived at by different means. Investors typically determine if Cronos is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cronos' 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.
Cronos '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 Cronos' 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 Cronos.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Cronos on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Cronos Group or generate 0.0% return on investment in Cronos over 30 days. Cronos is related to or competes with OrganiGram Holdings, Aurora Cannabis, SNDL, Canopy Growth, Tilray, and Curaleaf Holdings. It manufactures, markets, and distributes hemp-derived supplements and cosmetic products through e-commerce, retail, and... More
Cronos 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 Cronos' 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 Cronos Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 19.33 | |||
| Value At Risk | (3.98) | |||
| Potential Upside | 4.74 |
Cronos Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cronos' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cronos' standard deviation. In reality, there are many statistical measures that can use Cronos historical prices to predict the future Cronos' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.61) | |||
| Treynor Ratio | 1.29 |
Cronos Group Backtested Returns
Cronos Group secures Sharpe Ratio (or Efficiency) of -0.0417, which signifies that the company had a -0.0417% return per unit of risk over the last 3 months. Cronos Group exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cronos' Risk Adjusted Performance of (0.04), standard deviation of 3.15, and Mean Deviation of 2.17 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.15, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Cronos are expected to decrease at a much lower rate. During the bear market, Cronos is likely to outperform the market. At this point, Cronos Group has a negative expected return of -0.13%. Please make sure to confirm Cronos' potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to decide if Cronos Group performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.19 |
Very weak predictability
Cronos Group has very weak predictability. Overlapping area represents the amount of predictability between Cronos time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Cronos Group price movement. The serial correlation of 0.19 indicates that over 19.0% of current Cronos price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | -0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Cronos Group lagged returns against current returns
Autocorrelation, which is Cronos 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 Cronos' stock expected returns. We can calculate the autocorrelation of Cronos returns to help us make a trade decision. For example, suppose you find that Cronos 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 |
Cronos 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 Cronos stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cronos stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cronos stock over time.
Current vs Lagged Prices |
| Timeline |
Cronos Lagged Returns
When evaluating Cronos' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cronos stock have on its future price. Cronos 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, Cronos autocorrelation shows the relationship between Cronos stock current value and its past values and can show if there is a momentum factor associated with investing in Cronos Group.
Regressed Prices |
| Timeline |
Pair Trading with Cronos
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 Cronos 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 Cronos will appreciate offsetting losses from the drop in the long position's value.Moving together with Cronos Stock
| 0.64 | VALN | Valneva SE ADR Downward Rally | PairCorr |
Moving against Cronos Stock
| 0.58 | GILD | Gilead Sciences | PairCorr |
| 0.57 | BMY | Bristol Myers Squibb | PairCorr |
| 0.43 | EWTX | Edgewise Therapeutics | PairCorr |
| 0.31 | VRDN | Viridian Therapeutics | PairCorr |
The ability to find closely correlated positions to Cronos could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cronos 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 Cronos - 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 Cronos Group to buy it.
The correlation of Cronos 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 Cronos moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cronos Group 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 Cronos 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 Cronos Correlation, Cronos Volatility and Cronos Alpha and Beta module to complement your research on Cronos. You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
Cronos 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.