Finning International Stock Market Value
| FTT Stock | CAD 37.92 1.12 3.04% |
| Symbol | Finning |
Finning International Price To Book Ratio
Finning International '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 Finning International'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 Finning International.
| 12/06/2022 |
| 11/25/2024 |
If you would invest 0.00 in Finning International on December 6, 2022 and sell it all today you would earn a total of 0.00 from holding Finning International or generate 0.0% return on investment in Finning International over 720 days. Finning International is related to or competes with Toromont Industries, Ritchie Bros, Stantec, Transcontinental, and CCL Industries. Finning International Inc. engages in selling, servicing, and renting heavy equipment, and power and energy systems in C... More
Finning International 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 Finning International'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 Finning International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 14.51 | |||
| Value At Risk | (2.43) | |||
| Potential Upside | 3.3 |
Finning International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Finning International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Finning International's standard deviation. In reality, there are many statistical measures that can use Finning International historical prices to predict the future Finning International's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.36) | |||
| Treynor Ratio | (0.21) |
Finning International Backtested Returns
Finning International secures Sharpe Ratio (or Efficiency) of -0.0408, which denotes the company had a -0.0408% return per unit of risk over the last 3 months. Finning International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Finning International's Standard Deviation of 1.91, variance of 3.66, and Mean Deviation of 1.21 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.26, which means not very significant fluctuations relative to the market. As returns on the market increase, Finning International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Finning International is expected to be smaller as well. At this point, Finning International has a negative expected return of -0.079%. Please make sure to confirm Finning International's accumulation distribution, and the relationship between the value at risk and day typical price , to decide if Finning International performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.26 |
Poor predictability
Finning International has poor predictability. Overlapping area represents the amount of predictability between Finning International time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 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 Finning International price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Finning International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 7.03 |
Finning International lagged returns against current returns
Autocorrelation, which is Finning International 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 Finning International's stock expected returns. We can calculate the autocorrelation of Finning International returns to help us make a trade decision. For example, suppose you find that Finning International 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 |
Finning International 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 Finning International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Finning International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Finning International stock over time.
Current vs Lagged Prices |
| Timeline |
Finning International Lagged Returns
When evaluating Finning International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Finning International stock have on its future price. Finning International 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, Finning International autocorrelation shows the relationship between Finning International stock current value and its past values and can show if there is a momentum factor associated with investing in Finning International.
Regressed Prices |
| Timeline |
Pair Trading with Finning International
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 Finning International 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 Finning International will appreciate offsetting losses from the drop in the long position's value.Moving against Finning Stock
The ability to find closely correlated positions to Finning International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Finning International 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 Finning International - 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 Finning International to buy it.
The correlation of Finning International 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 Finning International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Finning International 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 Finning International 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 Finning Stock
Finning International financial ratios help investors to determine whether Finning 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 Finning with respect to the benefits of owning Finning International security.