Currency Exchange International Stock Market Value
| CXI Stock | CAD 22.90 0.21 0.91% |
| Symbol | Currency |
Currency Exchange Price To Book Ratio
Currency Exchange '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 Currency Exchange'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 Currency Exchange.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Currency Exchange on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Currency Exchange International or generate 0.0% return on investment in Currency Exchange over 30 days. Currency Exchange is related to or competes with Chesswood Group, Caldwell Partners, Firan Technology, K Bro, and Exco Technologies. Currency Exchange International, Corp. provides currency exchange and related products in the United States and Canada More
Currency Exchange 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 Currency Exchange'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 Currency Exchange International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 9.15 | |||
| Value At Risk | (3.10) | |||
| Potential Upside | 2.44 |
Currency Exchange Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Currency Exchange's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Currency Exchange's standard deviation. In reality, there are many statistical measures that can use Currency Exchange historical prices to predict the future Currency Exchange's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | 1.15 |
Currency Exchange Backtested Returns
Currency Exchange secures Sharpe Ratio (or Efficiency) of -0.0853, which signifies that the company had a -0.0853% return per unit of risk over the last 3 months. Currency Exchange International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Currency Exchange's Risk Adjusted Performance of (0.05), mean deviation of 1.07, and Standard Deviation of 1.61 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.11, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Currency Exchange are expected to decrease at a much lower rate. During the bear market, Currency Exchange is likely to outperform the market. At this point, Currency Exchange has a negative expected return of -0.14%. Please make sure to confirm Currency Exchange's potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Currency Exchange performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Currency Exchange International has very good predictability. Overlapping area represents the amount of predictability between Currency Exchange time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Currency Exchange price movement. The serial correlation of 0.83 indicates that around 83.0% of current Currency Exchange price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.36 |
Currency Exchange lagged returns against current returns
Autocorrelation, which is Currency Exchange 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 Currency Exchange's stock expected returns. We can calculate the autocorrelation of Currency Exchange returns to help us make a trade decision. For example, suppose you find that Currency Exchange 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 |
Currency Exchange 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 Currency Exchange stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Currency Exchange stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Currency Exchange stock over time.
Current vs Lagged Prices |
| Timeline |
Currency Exchange Lagged Returns
When evaluating Currency Exchange's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Currency Exchange stock have on its future price. Currency Exchange 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, Currency Exchange autocorrelation shows the relationship between Currency Exchange stock current value and its past values and can show if there is a momentum factor associated with investing in Currency Exchange International.
Regressed Prices |
| Timeline |
Pair Trading with Currency Exchange
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 Currency Exchange 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 Currency Exchange will appreciate offsetting losses from the drop in the long position's value.Moving against Currency Stock
| 0.47 | CHEV | CHEVRON CDR | PairCorr |
| 0.44 | AMZN | Amazon CDR | PairCorr |
| 0.42 | WMT | Walmart Inc CDR | PairCorr |
| 0.42 | BOFA | Bank of America | PairCorr |
| 0.38 | JPM | JPMorgan Chase | PairCorr |
The ability to find closely correlated positions to Currency Exchange could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Currency Exchange 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 Currency Exchange - 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 Currency Exchange International to buy it.
The correlation of Currency Exchange 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 Currency Exchange moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Currency Exchange 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 Currency Exchange 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.Other Information on Investing in Currency Stock
Currency Exchange financial ratios help investors to determine whether Currency 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 Currency with respect to the benefits of owning Currency Exchange security.