Magellan Aerospace Stock Market Value
| MAL Stock | CAD 10.76 0.17 1.61% |
| Symbol | Magellan |
Magellan Aerospace Price To Book Ratio
Magellan Aerospace '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 Magellan Aerospace'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 Magellan Aerospace.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Magellan Aerospace on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Magellan Aerospace or generate 0.0% return on investment in Magellan Aerospace over 540 days. Magellan Aerospace is related to or competes with Partners Value, Pembina Pipeline, Stampede Drilling, Highwood Asset, Western Investment, Bird Construction, and Westshore Terminals. Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine, and aero str... More
Magellan Aerospace 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 Magellan Aerospace'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 Magellan Aerospace upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.44 | |||
| Information Ratio | 0.0761 | |||
| Maximum Drawdown | 9.98 | |||
| Value At Risk | (2.29) | |||
| Potential Upside | 3.73 |
Magellan Aerospace Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Magellan Aerospace's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Magellan Aerospace's standard deviation. In reality, there are many statistical measures that can use Magellan Aerospace historical prices to predict the future Magellan Aerospace's volatility.| Risk Adjusted Performance | 0.1155 | |||
| Jensen Alpha | 0.1951 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0988 | |||
| Treynor Ratio | 0.4735 |
Magellan Aerospace Backtested Returns
Magellan Aerospace appears to be not too volatile, given 3 months investment horizon. Magellan Aerospace has Sharpe Ratio of 0.16, which conveys that the firm had a 0.16% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Magellan Aerospace, which you can use to evaluate the volatility of the firm. Please exercise Magellan Aerospace's Risk Adjusted Performance of 0.1155, downside deviation of 1.44, and Mean Deviation of 1.35 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Magellan Aerospace holds a performance score of 12. The company secures a Beta (Market Risk) of 0.54, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Magellan Aerospace's returns are expected to increase less than the market. However, during the bear market, the loss of holding Magellan Aerospace is expected to be smaller as well. Please check Magellan Aerospace's information ratio, value at risk, kurtosis, as well as the relationship between the sortino ratio and semi variance , to make a quick decision on whether Magellan Aerospace's current price movements will revert.
Auto-correlation | 0.14 |
Insignificant predictability
Magellan Aerospace has insignificant predictability. Overlapping area represents the amount of predictability between Magellan Aerospace time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Magellan Aerospace price movement. The serial correlation of 0.14 indicates that less than 14.0% of current Magellan Aerospace price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.9 |
Magellan Aerospace lagged returns against current returns
Autocorrelation, which is Magellan Aerospace 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 Magellan Aerospace's stock expected returns. We can calculate the autocorrelation of Magellan Aerospace returns to help us make a trade decision. For example, suppose you find that Magellan Aerospace 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 |
Magellan Aerospace 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 Magellan Aerospace stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Magellan Aerospace stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Magellan Aerospace stock over time.
Current vs Lagged Prices |
| Timeline |
Magellan Aerospace Lagged Returns
When evaluating Magellan Aerospace's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Magellan Aerospace stock have on its future price. Magellan Aerospace 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, Magellan Aerospace autocorrelation shows the relationship between Magellan Aerospace stock current value and its past values and can show if there is a momentum factor associated with investing in Magellan Aerospace.
Regressed Prices |
| Timeline |
Pair Trading with Magellan Aerospace
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 Magellan Aerospace 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 Magellan Aerospace will appreciate offsetting losses from the drop in the long position's value.Moving together with Magellan Stock
The ability to find closely correlated positions to Magellan Aerospace could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Magellan Aerospace 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 Magellan Aerospace - 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 Magellan Aerospace to buy it.
The correlation of Magellan Aerospace 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 Magellan Aerospace moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Magellan Aerospace 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 Magellan Aerospace 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 Magellan Stock
Magellan Aerospace financial ratios help investors to determine whether Magellan 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 Magellan with respect to the benefits of owning Magellan Aerospace security.