Gildan Activewear Stock Market Value
| GIL Stock | CAD 69.64 0.26 0.37% |
| Symbol | Gildan |
Gildan Activewear Price To Book Ratio
Gildan Activewear '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 Gildan Activewear'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 Gildan Activewear.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Gildan Activewear on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Gildan Activewear or generate 0.0% return on investment in Gildan Activewear over 720 days. Gildan Activewear is related to or competes with S A P, CCL Industries, Thomson Reuters, George Weston, and CGI. Gildan Activewear Inc. manufactures and sells a range of apparel products in North America, Europe, the Asia-Pacific, an... More
Gildan Activewear 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 Gildan Activewear'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 Gildan Activewear upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9392 | |||
| Information Ratio | 0.1951 | |||
| Maximum Drawdown | 4.55 | |||
| Value At Risk | (1.36) | |||
| Potential Upside | 2.14 |
Gildan Activewear Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gildan Activewear's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gildan Activewear's standard deviation. In reality, there are many statistical measures that can use Gildan Activewear historical prices to predict the future Gildan Activewear's volatility.| Risk Adjusted Performance | 0.2531 | |||
| Jensen Alpha | 0.3044 | |||
| Total Risk Alpha | 0.1571 | |||
| Sortino Ratio | 0.2004 | |||
| Treynor Ratio | 15.04 |
Gildan Activewear Backtested Returns
Gildan Activewear appears to be very steady, given 3 months investment horizon. Gildan Activewear holds Efficiency (Sharpe) Ratio of 0.27, which attests that the entity had a 0.27% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Gildan Activewear, which you can use to evaluate the volatility of the firm. Please utilize Gildan Activewear's Downside Deviation of 0.9392, market risk adjusted performance of 15.05, and Risk Adjusted Performance of 0.2531 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Gildan Activewear holds a performance score of 21. The company retains a Market Volatility (i.e., Beta) of 0.0204, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Gildan Activewear's returns are expected to increase less than the market. However, during the bear market, the loss of holding Gildan Activewear is expected to be smaller as well. Please check Gildan Activewear's total risk alpha, expected short fall, price action indicator, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Gildan Activewear's current trending patterns will revert.
Auto-correlation | 0.33 |
Below average predictability
Gildan Activewear has below average predictability. Overlapping area represents the amount of predictability between Gildan Activewear time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 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 Gildan Activewear price movement. The serial correlation of 0.33 indicates that nearly 33.0% of current Gildan Activewear price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.33 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 66.86 |
Gildan Activewear lagged returns against current returns
Autocorrelation, which is Gildan Activewear 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 Gildan Activewear's stock expected returns. We can calculate the autocorrelation of Gildan Activewear returns to help us make a trade decision. For example, suppose you find that Gildan Activewear 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 |
Gildan Activewear 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 Gildan Activewear stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gildan Activewear stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gildan Activewear stock over time.
Current vs Lagged Prices |
| Timeline |
Gildan Activewear Lagged Returns
When evaluating Gildan Activewear's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gildan Activewear stock have on its future price. Gildan Activewear 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, Gildan Activewear autocorrelation shows the relationship between Gildan Activewear stock current value and its past values and can show if there is a momentum factor associated with investing in Gildan Activewear.
Regressed Prices |
| Timeline |
Pair Trading with Gildan Activewear
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 Gildan Activewear 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 Gildan Activewear will appreciate offsetting losses from the drop in the long position's value.Moving together with Gildan Stock
The ability to find closely correlated positions to Gildan Activewear could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gildan Activewear 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 Gildan Activewear - 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 Gildan Activewear to buy it.
The correlation of Gildan Activewear 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 Gildan Activewear moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gildan Activewear 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 Gildan Activewear 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 Gildan Activewear Correlation, Gildan Activewear Volatility and Gildan Activewear Alpha and Beta module to complement your research on Gildan Activewear. To learn how to invest in Gildan Stock, please use our How to Invest in Gildan Activewear guide.You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Gildan Activewear 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.