Canadian Solar Stock Market Value
| CSIQ Stock | USD 13.07 1.16 9.74% |
| Symbol | Canadian |
Canadian Solar Price To Book Ratio
Is Semiconductors & Semiconductor Equipment 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 Canadian Solar. If investors know Canadian 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 Canadian Solar 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 (0.99) | Earnings Share 0.48 | Revenue Per Share 98.439 | Quarterly Revenue Growth (0.31) | Return On Assets 0.0106 |
The market value of Canadian Solar is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian Solar's value that differs from its market value or its book value, called intrinsic value, which is Canadian Solar'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 Canadian Solar's market value can be influenced by many factors that don't directly affect Canadian Solar'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 Canadian Solar's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Solar is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Solar'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.
Canadian Solar '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 Solar'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 Solar.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Canadian Solar on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Canadian Solar or generate 0.0% return on investment in Canadian Solar over 30 days. Canadian Solar is related to or competes with Maxeon Solar, SolarEdge Technologies, Sunnova Energy, Enphase Energy, Sunrun, and First Solar. Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, ce... More
Canadian Solar 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 Solar'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 Solar upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.34 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 35.56 | |||
| Value At Risk | (8.50) | |||
| Potential Upside | 9.83 |
Canadian Solar Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canadian Solar's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canadian Solar's standard deviation. In reality, there are many statistical measures that can use Canadian Solar historical prices to predict the future Canadian Solar's volatility.| Risk Adjusted Performance | 0.0247 | |||
| Jensen Alpha | 0.1726 | |||
| Total Risk Alpha | (0.80) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | (0.22) |
Canadian Solar Backtested Returns
Currently, Canadian Solar is somewhat reliable. Canadian Solar secures Sharpe Ratio (or Efficiency) of 0.0298, which signifies that the company had a 0.0298% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canadian Solar, which you can use to evaluate the volatility of the firm. Please confirm Canadian Solar's Risk Adjusted Performance of 0.0247, mean deviation of 4.27, and Downside Deviation of 6.34 to double-check if the risk estimate we provide is consistent with the expected return of 0.17%. Canadian Solar has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.51, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Canadian Solar are expected to decrease at a much lower rate. During the bear market, Canadian Solar is likely to outperform the market. Canadian Solar right now shows a risk of 5.85%. Please confirm Canadian Solar semi variance, and the relationship between the treynor ratio and daily balance of power , to decide if Canadian Solar will be following its price patterns.
Auto-correlation | -0.47 |
Modest reverse predictability
Canadian Solar has modest reverse predictability. Overlapping area represents the amount of predictability between Canadian Solar time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Solar price movement. The serial correlation of -0.47 indicates that about 47.0% of current Canadian Solar price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.47 | |
| Spearman Rank Test | 0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 0.38 |
Canadian Solar lagged returns against current returns
Autocorrelation, which is Canadian Solar 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 Solar's stock expected returns. We can calculate the autocorrelation of Canadian Solar returns to help us make a trade decision. For example, suppose you find that Canadian Solar 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 Solar 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 Solar stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canadian Solar stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canadian Solar stock over time.
Current vs Lagged Prices |
| Timeline |
Canadian Solar Lagged Returns
When evaluating Canadian Solar's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canadian Solar stock have on its future price. Canadian Solar 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 Solar autocorrelation shows the relationship between Canadian Solar stock current value and its past values and can show if there is a momentum factor associated with investing in Canadian Solar.
Regressed Prices |
| Timeline |
Pair Trading with Canadian Solar
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 Canadian Solar 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 Canadian Solar will appreciate offsetting losses from the drop in the long position's value.Moving against Canadian Stock
| 0.57 | ASAN | Asana Inc Sell-off Trend | PairCorr |
| 0.42 | CWAN | Clearwater Analytics | PairCorr |
| 0.38 | EHGO | Eshallgo Class A | PairCorr |
The ability to find closely correlated positions to Canadian Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Solar 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 Canadian Solar - 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 Canadian Solar to buy it.
The correlation of Canadian Solar 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 Canadian Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Solar 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 Canadian Solar 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.Additional Tools for Canadian Stock Analysis
When running Canadian Solar's price analysis, check to measure Canadian Solar's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian Solar is operating at the current time. Most of Canadian Solar's value examination focuses on studying past and present price action to predict the probability of Canadian Solar's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Solar's price. Additionally, you may evaluate how the addition of Canadian Solar to your portfolios can decrease your overall portfolio volatility.