Royal Canadian Mint Stock Market Value
| MNS Stock | CAD 23.88 0.51 2.09% |
| Symbol | Royal |
Royal Canadian Mint Price To Book Ratio
Royal Canadian '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 Royal Canadian'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 Royal Canadian.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Royal Canadian on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Royal Canadian Mint or generate 0.0% return on investment in Royal Canadian over 720 days. Royal Canadian is related to or competes with S A P, CCL Industries, Thomson Reuters, George Weston, and CGI. Royal Canadian is entity of Canada. It is traded as Stock on TO exchange. More
Royal Canadian 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 Royal Canadian'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 Royal Canadian Mint upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.05 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 10.79 | |||
| Value At Risk | (3.25) | |||
| Potential Upside | 3.77 |
Royal Canadian Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Royal Canadian's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Royal Canadian's standard deviation. In reality, there are many statistical measures that can use Royal Canadian historical prices to predict the future Royal Canadian's volatility.| Risk Adjusted Performance | 0.0378 | |||
| Jensen Alpha | 0.1473 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.12) |
Royal Canadian Mint Backtested Returns
As of now, Royal Stock is not too volatile. Royal Canadian Mint maintains Sharpe Ratio (i.e., Efficiency) of 0.035, which implies the firm had a 0.035% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Royal Canadian Mint, which you can use to evaluate the volatility of the company. Please check Royal Canadian's Semi Deviation of 1.73, coefficient of variation of 2427.82, and Risk Adjusted Performance of 0.0378 to confirm if the risk estimate we provide is consistent with the expected return of 0.0722%. Royal Canadian has a performance score of 2 on a scale of 0 to 100. The company holds a Beta of -0.61, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Royal Canadian are expected to decrease at a much lower rate. During the bear market, Royal Canadian is likely to outperform the market. Royal Canadian Mint right now holds a risk of 2.06%. Please check Royal Canadian Mint kurtosis, and the relationship between the downside variance and day median price , to decide if Royal Canadian Mint will be following its historical price patterns.
Auto-correlation | 0.11 |
Insignificant predictability
Royal Canadian Mint has insignificant predictability. Overlapping area represents the amount of predictability between Royal Canadian 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 Royal Canadian Mint price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Royal Canadian price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 11.32 |
Royal Canadian Mint lagged returns against current returns
Autocorrelation, which is Royal Canadian 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 Royal Canadian's stock expected returns. We can calculate the autocorrelation of Royal Canadian returns to help us make a trade decision. For example, suppose you find that Royal Canadian 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 |
Royal Canadian 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 Royal Canadian stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Royal Canadian stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Royal Canadian stock over time.
Current vs Lagged Prices |
| Timeline |
Royal Canadian Lagged Returns
When evaluating Royal Canadian's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Royal Canadian stock have on its future price. Royal Canadian 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, Royal Canadian autocorrelation shows the relationship between Royal Canadian stock current value and its past values and can show if there is a momentum factor associated with investing in Royal Canadian Mint.
Regressed Prices |
| Timeline |
Pair Trading with Royal Canadian
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 Royal Canadian 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 Royal Canadian will appreciate offsetting losses from the drop in the long position's value.Moving together with Royal Stock
The ability to find closely correlated positions to Royal Canadian could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Royal Canadian 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 Royal Canadian - 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 Royal Canadian Mint to buy it.
The correlation of Royal Canadian 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 Royal Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Royal Canadian Mint 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 Royal Canadian 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 Royal Stock
Royal Canadian financial ratios help investors to determine whether Royal 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 Royal with respect to the benefits of owning Royal Canadian security.