Canada Goose Holdings Stock Market Value
| GOOS Stock | CAD 13.29 0.05 0.38% |
| Symbol | Canada |
Canada Goose Holdings Price To Book Ratio
Canada Goose '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 Canada Goose'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 Canada Goose.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Canada Goose on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Canada Goose Holdings or generate 0.0% return on investment in Canada Goose over 30 days. Canada Goose is related to or competes with Aritzia, Restaurant Brands, Dollarama, Shopify, and Lightspeed Commerce. Canada Goose Holdings Inc. designs, manufactures, and sells performance luxury apparel for men, women, youth, children, ... More
Canada Goose 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 Canada Goose'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 Canada Goose Holdings upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 18.4 | |||
| Value At Risk | (4.25) | |||
| Potential Upside | 3.74 |
Canada Goose Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canada Goose's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canada Goose's standard deviation. In reality, there are many statistical measures that can use Canada Goose historical prices to predict the future Canada Goose's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | (1.07) |
Canada Goose Holdings Backtested Returns
Canada Goose Holdings secures Sharpe Ratio (or Efficiency) of -0.0843, which signifies that the company had a -0.0843% return per unit of risk over the last 3 months. Canada Goose Holdings exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Canada Goose's Risk Adjusted Performance of (0.05), standard deviation of 2.75, and Mean Deviation of 1.9 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.21, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Canada Goose's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canada Goose is expected to be smaller as well. At this point, Canada Goose Holdings has a negative expected return of -0.24%. Please make sure to confirm Canada Goose's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Canada Goose Holdings performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.19 |
Very weak predictability
Canada Goose Holdings has very weak predictability. Overlapping area represents the amount of predictability between Canada Goose time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Canada Goose Holdings price movement. The serial correlation of 0.19 indicates that over 19.0% of current Canada Goose price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Canada Goose Holdings lagged returns against current returns
Autocorrelation, which is Canada Goose 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 Canada Goose's stock expected returns. We can calculate the autocorrelation of Canada Goose returns to help us make a trade decision. For example, suppose you find that Canada Goose 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 |
Canada Goose 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 Canada Goose stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canada Goose stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canada Goose stock over time.
Current vs Lagged Prices |
| Timeline |
Canada Goose Lagged Returns
When evaluating Canada Goose's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canada Goose stock have on its future price. Canada Goose 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, Canada Goose autocorrelation shows the relationship between Canada Goose stock current value and its past values and can show if there is a momentum factor associated with investing in Canada Goose Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Canada Goose
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 Canada Goose 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 Canada Goose will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Canada Goose could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canada Goose 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 Canada Goose - 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 Canada Goose Holdings to buy it.
The correlation of Canada Goose 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 Canada Goose moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canada Goose Holdings 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 Canada Goose 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 Canada Goose Correlation, Canada Goose Volatility and Canada Goose Alpha and Beta module to complement your research on Canada Goose. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Canada Goose 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.