Diversified Royalty Corp Stock Market Value
| DIV Stock | CAD 3.01 0.02 0.66% |
| Symbol | Diversified |
Diversified Royalty Corp Price To Book Ratio
Diversified Royalty '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 Diversified Royalty'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 Diversified Royalty.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Diversified Royalty on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Diversified Royalty Corp or generate 0.0% return on investment in Diversified Royalty over 30 days. Diversified Royalty is related to or competes with True North, Chemtrade Logistics, Pizza Pizza, Exchange Income, and Slate Office. Diversified Royalty Corp., a multi-royalty corporation, engages in the acquisition of royalties from multi-location busi... More
Diversified Royalty 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 Diversified Royalty'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 Diversified Royalty Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5979 | |||
| Information Ratio | 0.0386 | |||
| Maximum Drawdown | 2.72 | |||
| Value At Risk | (0.67) | |||
| Potential Upside | 1.09 |
Diversified Royalty Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Diversified Royalty's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Diversified Royalty's standard deviation. In reality, there are many statistical measures that can use Diversified Royalty historical prices to predict the future Diversified Royalty's volatility.| Risk Adjusted Performance | 0.1911 | |||
| Jensen Alpha | 0.121 | |||
| Total Risk Alpha | 0.0481 | |||
| Sortino Ratio | 0.0395 | |||
| Treynor Ratio | 0.7466 |
Diversified Royalty Corp Backtested Returns
As of now, Diversified Stock is not too volatile. Diversified Royalty Corp secures Sharpe Ratio (or Efficiency) of 0.21, which denotes the company had a 0.21% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Diversified Royalty Corp, which you can use to evaluate the volatility of the firm. Please confirm Diversified Royalty's Mean Deviation of 0.5077, downside deviation of 0.5979, and Coefficient Of Variation of 395.97 to check if the risk estimate we provide is consistent with the expected return of 0.13%. Diversified Royalty has a performance score of 16 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.19, which means not very significant fluctuations relative to the market. As returns on the market increase, Diversified Royalty's returns are expected to increase less than the market. However, during the bear market, the loss of holding Diversified Royalty is expected to be smaller as well. Diversified Royalty Corp right now shows a risk of 0.63%. Please confirm Diversified Royalty Corp expected short fall, and the relationship between the value at risk and daily balance of power , to decide if Diversified Royalty Corp will be following its price patterns.
Auto-correlation | -0.49 |
Modest reverse predictability
Diversified Royalty Corp has modest reverse predictability. Overlapping area represents the amount of predictability between Diversified Royalty 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 Diversified Royalty Corp price movement. The serial correlation of -0.49 indicates that about 49.0% of current Diversified Royalty price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.49 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Diversified Royalty Corp lagged returns against current returns
Autocorrelation, which is Diversified Royalty 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 Diversified Royalty's stock expected returns. We can calculate the autocorrelation of Diversified Royalty returns to help us make a trade decision. For example, suppose you find that Diversified Royalty 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 |
Diversified Royalty 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 Diversified Royalty stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Diversified Royalty stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Diversified Royalty stock over time.
Current vs Lagged Prices |
| Timeline |
Diversified Royalty Lagged Returns
When evaluating Diversified Royalty's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Diversified Royalty stock have on its future price. Diversified Royalty 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, Diversified Royalty autocorrelation shows the relationship between Diversified Royalty stock current value and its past values and can show if there is a momentum factor associated with investing in Diversified Royalty Corp.
Regressed Prices |
| Timeline |
Pair Trading with Diversified Royalty
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 Diversified Royalty 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 Diversified Royalty will appreciate offsetting losses from the drop in the long position's value.Moving together with Diversified Stock
The ability to find closely correlated positions to Diversified Royalty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Diversified Royalty 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 Diversified Royalty - 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 Diversified Royalty Corp to buy it.
The correlation of Diversified Royalty 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 Diversified Royalty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Diversified Royalty Corp 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 Diversified Royalty 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 Diversified Stock
Diversified Royalty financial ratios help investors to determine whether Diversified 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 Diversified with respect to the benefits of owning Diversified Royalty security.