Gfl Environmental Holdings Stock Market Value
| GFL Stock | CAD 64.87 0.68 1.04% |
| Symbol | Gfl |
Gfl Environmental Price To Book Ratio
Gfl 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 Gfl 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 Gfl Environmental.
| 10/04/2023 |
| 11/27/2024 |
If you would invest 0.00 in Gfl Environmental on October 4, 2023 and sell it all today you would earn a total of 0.00 from holding Gfl Environmental Holdings or generate 0.0% return on investment in Gfl Environmental over 420 days. Gfl Environmental is related to or competes with Cielo Waste, CHAR Technologies, IShares Canadian, PHN Multi, Altagas Cum, and European Residential. GFL Environmental Inc. operates as a diversified environmental services company in Canada and the United States More
Gfl 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 Gfl 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 Gfl Environmental Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.45 | |||
| Information Ratio | 0.0306 | |||
| Maximum Drawdown | 7.23 | |||
| Value At Risk | (2.24) | |||
| Potential Upside | 2.88 |
Gfl Environmental Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gfl Environmental's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gfl Environmental's standard deviation. In reality, there are many statistical measures that can use Gfl Environmental historical prices to predict the future Gfl Environmental's volatility.| Risk Adjusted Performance | 0.0927 | |||
| Jensen Alpha | 0.1197 | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | 0.0327 | |||
| Treynor Ratio | 0.4192 |
Gfl Environmental Backtested Returns
Gfl Environmental appears to be very steady, given 3 months investment horizon. Gfl Environmental holds Efficiency (Sharpe) Ratio of 0.13, which attests that the entity had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Gfl Environmental, which you can use to evaluate the volatility of the firm. Please utilize Gfl Environmental's Downside Deviation of 1.45, market risk adjusted performance of 0.4292, and Risk Adjusted Performance of 0.0927 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Gfl Environmental holds a performance score of 10. The company retains a Market Volatility (i.e., Beta) of 0.4, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Gfl Environmental's returns are expected to increase less than the market. However, during the bear market, the loss of holding Gfl Environmental is expected to be smaller as well. Please check Gfl Environmental's jensen alpha, potential upside, accumulation distribution, as well as the relationship between the treynor ratio and expected short fall , to make a quick decision on whether Gfl Environmental's current trending patterns will revert.
Auto-correlation | 0.51 |
Modest predictability
Gfl Environmental Holdings has modest predictability. Overlapping area represents the amount of predictability between Gfl Environmental time series from 4th of October 2023 to 1st of May 2024 and 1st of May 2024 to 27th 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 Gfl Environmental price movement. The serial correlation of 0.51 indicates that about 51.0% of current Gfl Environmental price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 28.57 |
Gfl Environmental lagged returns against current returns
Autocorrelation, which is Gfl 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 Gfl Environmental's stock expected returns. We can calculate the autocorrelation of Gfl Environmental returns to help us make a trade decision. For example, suppose you find that Gfl 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 |
Gfl 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 Gfl Environmental stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gfl Environmental stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gfl Environmental stock over time.
Current vs Lagged Prices |
| Timeline |
Gfl Environmental Lagged Returns
When evaluating Gfl Environmental's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gfl Environmental stock have on its future price. Gfl 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, Gfl Environmental autocorrelation shows the relationship between Gfl Environmental stock current value and its past values and can show if there is a momentum factor associated with investing in Gfl Environmental Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Gfl 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 Gfl 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 Gfl Environmental will appreciate offsetting losses from the drop in the long position's value.Moving against Gfl Stock
The ability to find closely correlated positions to Gfl 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 Gfl 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 Gfl 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 Gfl Environmental Holdings to buy it.
The correlation of Gfl 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 Gfl Environmental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gfl 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 Gfl 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.Check out Gfl Environmental Correlation, Gfl Environmental Volatility and Gfl Environmental Alpha and Beta module to complement your research on Gfl Environmental. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
Gfl Environmental technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.