Mullen Group Stock Market Value
| MTL Stock | CAD 15.37 0.10 0.65% |
| Symbol | Mullen |
Mullen Group Price To Book Ratio
Mullen '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 Mullen'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 Mullen.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Mullen on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Mullen Group or generate 0.0% return on investment in Mullen over 30 days. Mullen is related to or competes with Pason Systems, Westshore Terminals, Superior Plus, Gibson Energy, and Transcontinental. Mullen Group Ltd. provides trucking and logistics services in Canada and the United States More
Mullen 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 Mullen'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 Mullen Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.06 | |||
| Information Ratio | 0.0116 | |||
| Maximum Drawdown | 10.97 | |||
| Value At Risk | (1.62) | |||
| Potential Upside | 2.14 |
Mullen Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mullen's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mullen's standard deviation. In reality, there are many statistical measures that can use Mullen historical prices to predict the future Mullen's volatility.| Risk Adjusted Performance | 0.0791 | |||
| Jensen Alpha | 0.1044 | |||
| Total Risk Alpha | (0.10) | |||
| Sortino Ratio | 0.0168 | |||
| Treynor Ratio | 0.4894 |
Mullen Group Backtested Returns
As of now, Mullen Stock is very steady. Mullen Group has Sharpe Ratio of 0.0824, which conveys that the firm had a 0.0824% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Mullen, which you can use to evaluate the volatility of the firm. Please verify Mullen's Mean Deviation of 0.9486, risk adjusted performance of 0.0791, and Downside Deviation of 1.06 to check out if the risk estimate we provide is consistent with the expected return of 0.13%. Mullen has a performance score of 6 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.28, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mullen's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mullen is expected to be smaller as well. Mullen Group right now secures a risk of 1.57%. Please verify Mullen Group sortino ratio, skewness, period momentum indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Mullen Group will be following its current price movements.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Mullen Group has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Mullen 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 Mullen Group price movement. The serial correlation of -0.77 indicates that around 77.0% of current Mullen price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Mullen Group lagged returns against current returns
Autocorrelation, which is Mullen 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 Mullen's stock expected returns. We can calculate the autocorrelation of Mullen returns to help us make a trade decision. For example, suppose you find that Mullen 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 |
Mullen 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 Mullen stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mullen stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mullen stock over time.
Current vs Lagged Prices |
| Timeline |
Mullen Lagged Returns
When evaluating Mullen's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mullen stock have on its future price. Mullen 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, Mullen autocorrelation shows the relationship between Mullen stock current value and its past values and can show if there is a momentum factor associated with investing in Mullen Group.
Regressed Prices |
| Timeline |
Pair Trading with Mullen
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 Mullen 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 Mullen will appreciate offsetting losses from the drop in the long position's value.Moving together with Mullen Stock
Moving against Mullen Stock
The ability to find closely correlated positions to Mullen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mullen 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 Mullen - 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 Mullen Group to buy it.
The correlation of Mullen 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 Mullen moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mullen Group 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 Mullen 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 Mullen Stock
Mullen financial ratios help investors to determine whether Mullen 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 Mullen with respect to the benefits of owning Mullen security.