Kinaxis Stock Market Value
| KXS Stock | CAD 170.59 1.91 1.13% |
| Symbol | Kinaxis |
Kinaxis Price To Book Ratio
Kinaxis '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 Kinaxis' 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 Kinaxis.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Kinaxis on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Kinaxis or generate 0.0% return on investment in Kinaxis over 30 days. Kinaxis is related to or competes with IShares Canadian, PHN Multi, Altagas Cum, Invesco SP, and EcoSynthetix. Kinaxis Inc. provides cloud-based subscription software for supply chain operations in the United States, Europe, Asia, ... More
Kinaxis 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 Kinaxis' 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 Kinaxis upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.04 | |||
| Information Ratio | 0.0325 | |||
| Maximum Drawdown | 16.52 | |||
| Value At Risk | (3.29) | |||
| Potential Upside | 3.95 |
Kinaxis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kinaxis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kinaxis' standard deviation. In reality, there are many statistical measures that can use Kinaxis historical prices to predict the future Kinaxis' volatility.| Risk Adjusted Performance | 0.0624 | |||
| Jensen Alpha | 0.1519 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0293 | |||
| Treynor Ratio | 0.511 |
Kinaxis Backtested Returns
Kinaxis appears to be very steady, given 3 months investment horizon. Kinaxis has Sharpe Ratio of 0.0716, which conveys that the firm had a 0.0716% return per unit of risk over the last 3 months. We have found thirty technical indicators for Kinaxis, which you can use to evaluate the volatility of the firm. Please exercise Kinaxis' Risk Adjusted Performance of 0.0624, downside deviation of 3.04, and Mean Deviation of 1.66 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kinaxis holds a performance score of 5. The company secures a Beta (Market Risk) of 0.37, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kinaxis' returns are expected to increase less than the market. However, during the bear market, the loss of holding Kinaxis is expected to be smaller as well. Please check Kinaxis' treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Kinaxis' current price movements will revert.
Auto-correlation | -0.07 |
Very weak reverse predictability
Kinaxis has very weak reverse predictability. Overlapping area represents the amount of predictability between Kinaxis time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Kinaxis price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Kinaxis price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 5.18 |
Kinaxis lagged returns against current returns
Autocorrelation, which is Kinaxis 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 Kinaxis' stock expected returns. We can calculate the autocorrelation of Kinaxis returns to help us make a trade decision. For example, suppose you find that Kinaxis 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 |
Kinaxis 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 Kinaxis stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kinaxis stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kinaxis stock over time.
Current vs Lagged Prices |
| Timeline |
Kinaxis Lagged Returns
When evaluating Kinaxis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kinaxis stock have on its future price. Kinaxis 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, Kinaxis autocorrelation shows the relationship between Kinaxis stock current value and its past values and can show if there is a momentum factor associated with investing in Kinaxis.
Regressed Prices |
| Timeline |
Pair Trading with Kinaxis
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 Kinaxis 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 Kinaxis will appreciate offsetting losses from the drop in the long position's value.Moving against Kinaxis Stock
| 0.7 | DELX | DelphX Capital Markets Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Kinaxis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kinaxis 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 Kinaxis - 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 Kinaxis to buy it.
The correlation of Kinaxis 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 Kinaxis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kinaxis 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 Kinaxis 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 Kinaxis Stock
Kinaxis financial ratios help investors to determine whether Kinaxis 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 Kinaxis with respect to the benefits of owning Kinaxis security.