Granite Real Estate Stock Market Value
| GRT-UN Stock | CAD 74.63 1.00 1.32% |
| Symbol | Granite |
Granite Real Estate Price To Book Ratio
Granite Real '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 Granite Real'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 Granite Real.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Granite Real on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Granite Real Estate or generate 0.0% return on investment in Granite Real over 720 days. Granite Real is related to or competes with Canadian Apartment, Dream Industrial, Allied Properties, Killam Apartment, and InterRent Real. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of industrial, wareho... More
Granite Real 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 Granite Real'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 Granite Real Estate upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.13 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 5.14 | |||
| Value At Risk | (1.90) | |||
| Potential Upside | 1.94 |
Granite Real Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Granite Real's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Granite Real's standard deviation. In reality, there are many statistical measures that can use Granite Real historical prices to predict the future Granite Real's volatility.| Risk Adjusted Performance | 0.0393 | |||
| Jensen Alpha | 0.0684 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Granite Real's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Granite Real Estate Backtested Returns
Granite Real Estate holds Efficiency (Sharpe) Ratio of -0.0072, which attests that the entity had a -0.0072% return per unit of standard deviation over the last 3 months. Granite Real Estate exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Granite Real's market risk adjusted performance of (0.20), and Risk Adjusted Performance of 0.0393 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.21, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Granite Real are expected to decrease at a much lower rate. During the bear market, Granite Real is likely to outperform the market. At this point, Granite Real Estate has a negative expected return of -0.0081%. Please make sure to check out Granite Real's value at risk, daily balance of power, and the relationship between the total risk alpha and expected short fall , to decide if Granite Real Estate performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.46 |
Modest reverse predictability
Granite Real Estate has modest reverse predictability. Overlapping area represents the amount of predictability between Granite Real 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 Granite Real Estate price movement. The serial correlation of -0.46 indicates that about 46.0% of current Granite Real price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 15.07 |
Granite Real Estate lagged returns against current returns
Autocorrelation, which is Granite Real 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 Granite Real's stock expected returns. We can calculate the autocorrelation of Granite Real returns to help us make a trade decision. For example, suppose you find that Granite Real 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 |
Granite Real 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 Granite Real stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Granite Real stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Granite Real stock over time.
Current vs Lagged Prices |
| Timeline |
Granite Real Lagged Returns
When evaluating Granite Real's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Granite Real stock have on its future price. Granite Real 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, Granite Real autocorrelation shows the relationship between Granite Real stock current value and its past values and can show if there is a momentum factor associated with investing in Granite Real Estate.
Regressed Prices |
| Timeline |
Pair Trading with Granite Real
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 Granite Real 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 Granite Real will appreciate offsetting losses from the drop in the long position's value.Moving together with Granite Stock
Moving against Granite Stock
| 0.63 | LQWD | LQwD FinTech Corp | PairCorr |
| 0.49 | MATE | Blockmate Ventures Earnings Call Tomorrow | PairCorr |
| 0.38 | ERC | Eros Resources Corp | PairCorr |
The ability to find closely correlated positions to Granite Real could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Granite Real 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 Granite Real - 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 Granite Real Estate to buy it.
The correlation of Granite Real 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 Granite Real moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Granite Real Estate 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 Granite Real 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 Granite Stock
Granite Real financial ratios help investors to determine whether Granite 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 Granite with respect to the benefits of owning Granite Real security.