Dirtt Environmental Solutions Stock Market Value
| DRT Stock | CAD 0.94 0.06 6.82% |
| Symbol | DIRTT |
DIRTT Environmental Price To Book Ratio
DIRTT Environmental '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 DIRTT Environmental'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 DIRTT Environmental.
| 11/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in DIRTT Environmental on November 29, 2023 and sell it all today you would earn a total of 0.00 from holding DIRTT Environmental Solutions or generate 0.0% return on investment in DIRTT Environmental over 360 days. DIRTT Environmental is related to or competes with Knight Therapeutics, Element Fleet, Autocanada, Bird Construction, and Westport Fuel. DIRTT Environmental Solutions Ltd. designs, manufactures, and installs prefabricated interior solutions for use primaril... More
DIRTT Environmental 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 DIRTT Environmental'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 DIRTT Environmental Solutions upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.84 | |||
| Information Ratio | 0.1126 | |||
| Maximum Drawdown | 25.63 | |||
| Value At Risk | (4.17) | |||
| Potential Upside | 6.98 |
DIRTT Environmental Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DIRTT Environmental's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DIRTT Environmental's standard deviation. In reality, there are many statistical measures that can use DIRTT Environmental historical prices to predict the future DIRTT Environmental's volatility.| Risk Adjusted Performance | 0.1206 | |||
| Jensen Alpha | 0.5588 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.1512 | |||
| Treynor Ratio | (7.33) |
DIRTT Environmental Backtested Returns
DIRTT Environmental appears to be extremely dangerous, given 3 months investment horizon. DIRTT Environmental secures Sharpe Ratio (or Efficiency) of 0.14, which denotes the company had a 0.14% return per unit of volatility over the last 3 months. By examining DIRTT Environmental's technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please utilize DIRTT Environmental's Market Risk Adjusted Performance of (7.32), mean deviation of 2.59, and Downside Deviation of 2.84 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, DIRTT Environmental holds a performance score of 10. The firm shows a Beta (market volatility) of -0.075, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning DIRTT Environmental are expected to decrease at a much lower rate. During the bear market, DIRTT Environmental is likely to outperform the market. Please check DIRTT Environmental's treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether DIRTT Environmental's price patterns will revert.
Auto-correlation | 0.70 |
Good predictability
DIRTT Environmental Solutions has good predictability. Overlapping area represents the amount of predictability between DIRTT Environmental time series from 29th of November 2023 to 27th of May 2024 and 27th of May 2024 to 23rd 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 DIRTT Environmental price movement. The serial correlation of 0.7 indicates that around 70.0% of current DIRTT Environmental price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
DIRTT Environmental lagged returns against current returns
Autocorrelation, which is DIRTT Environmental 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 DIRTT Environmental's stock expected returns. We can calculate the autocorrelation of DIRTT Environmental returns to help us make a trade decision. For example, suppose you find that DIRTT Environmental 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 |
DIRTT Environmental 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 DIRTT Environmental stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DIRTT Environmental stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DIRTT Environmental stock over time.
Current vs Lagged Prices |
| Timeline |
DIRTT Environmental Lagged Returns
When evaluating DIRTT Environmental's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DIRTT Environmental stock have on its future price. DIRTT Environmental 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, DIRTT Environmental autocorrelation shows the relationship between DIRTT Environmental stock current value and its past values and can show if there is a momentum factor associated with investing in DIRTT Environmental Solutions.
Regressed Prices |
| Timeline |
Pair Trading with DIRTT Environmental
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 DIRTT Environmental 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 DIRTT Environmental will appreciate offsetting losses from the drop in the long position's value.Moving together with DIRTT Stock
| 0.8 | RY | Royal Bank | PairCorr |
| 0.75 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.61 | AMZN | Amazon CDR | PairCorr |
| 0.69 | BNS | Bank of Nova Scotia | PairCorr |
Moving against DIRTT Stock
The ability to find closely correlated positions to DIRTT Environmental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DIRTT Environmental 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 DIRTT Environmental - 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 DIRTT Environmental Solutions to buy it.
The correlation of DIRTT Environmental 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 DIRTT Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DIRTT Environmental 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 DIRTT Environmental 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 DIRTT Stock
DIRTT Environmental financial ratios help investors to determine whether DIRTT 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 DIRTT with respect to the benefits of owning DIRTT Environmental security.