Leons Furniture Limited Stock Market Value
| LNF Stock | CAD 26.70 0.14 0.53% |
| Symbol | Leons |
Leons Furniture Price To Book Ratio
Leons Furniture '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 Leons Furniture'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 Leons Furniture.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Leons Furniture on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Leons Furniture Limited or generate 0.0% return on investment in Leons Furniture over 30 days. Leons Furniture is related to or competes with Telus Corp, Toronto Dominion, Manulife Financial, Canadian Natural, TC Energy, Athabasca Oil, and Bank of Nova Scotia. Leons Furniture Limited, together with its subsidiaries, operates as a retailer of home furnishings, mattresses, applian... More
Leons Furniture 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 Leons Furniture'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 Leons Furniture Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 8.2 | |||
| Value At Risk | (2.82) | |||
| Potential Upside | 2.58 |
Leons Furniture Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Leons Furniture's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Leons Furniture's standard deviation. In reality, there are many statistical measures that can use Leons Furniture historical prices to predict the future Leons Furniture's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.35) | |||
| Treynor Ratio | (0.24) |
Leons Furniture Backtested Returns
Leons Furniture has Sharpe Ratio of -0.12, which conveys that the firm had a -0.12% return per unit of risk over the last 3 months. Leons Furniture exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Leons Furniture's Standard Deviation of 1.48, mean deviation of 1.12, and Risk Adjusted Performance of (0.05) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.5, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Leons Furniture's returns are expected to increase less than the market. However, during the bear market, the loss of holding Leons Furniture is expected to be smaller as well. At this point, Leons Furniture has a negative expected return of -0.17%. Please make sure to verify Leons Furniture's kurtosis, and the relationship between the value at risk and rate of daily change , to decide if Leons Furniture performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Leons Furniture Limited has weak predictability. Overlapping area represents the amount of predictability between Leons Furniture time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 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 Leons Furniture price movement. The serial correlation of 0.22 indicates that over 22.0% of current Leons Furniture price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Leons Furniture lagged returns against current returns
Autocorrelation, which is Leons Furniture 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 Leons Furniture's stock expected returns. We can calculate the autocorrelation of Leons Furniture returns to help us make a trade decision. For example, suppose you find that Leons Furniture 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 |
Leons Furniture 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 Leons Furniture stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Leons Furniture stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Leons Furniture stock over time.
Current vs Lagged Prices |
| Timeline |
Leons Furniture Lagged Returns
When evaluating Leons Furniture's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Leons Furniture stock have on its future price. Leons Furniture 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, Leons Furniture autocorrelation shows the relationship between Leons Furniture stock current value and its past values and can show if there is a momentum factor associated with investing in Leons Furniture Limited.
Regressed Prices |
| Timeline |
Pair Trading with Leons Furniture
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 Leons Furniture 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 Leons Furniture will appreciate offsetting losses from the drop in the long position's value.Moving against Leons Stock
| 0.75 | JPM | JPMorgan Chase | PairCorr |
| 0.69 | TSLA | Tesla Inc CDR | PairCorr |
| 0.64 | NVDA | NVIDIA CDR | PairCorr |
| 0.62 | AMZN | Amazon CDR | PairCorr |
| 0.58 | GOOG | Alphabet CDR | PairCorr |
The ability to find closely correlated positions to Leons Furniture could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leons Furniture 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 Leons Furniture - 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 Leons Furniture Limited to buy it.
The correlation of Leons Furniture 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 Leons Furniture moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Leons Furniture 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 Leons Furniture 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 Leons Stock
Leons Furniture financial ratios help investors to determine whether Leons 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 Leons with respect to the benefits of owning Leons Furniture security.