Onex Corp Stock Market Value
| ONEX Stock | CAD 113.93 1.31 1.14% |
| Symbol | Onex |
Onex Corp Price To Book Ratio
Onex Corp '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 Onex Corp'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 Onex Corp.
| 12/03/2023 |
| 11/27/2024 |
If you would invest 0.00 in Onex Corp on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding Onex Corp or generate 0.0% return on investment in Onex Corp over 360 days. Onex Corp is related to or competes with Intact Financial, Open Text, Waste Connections, Fairfax Financial, and CCL Industries. Onex Corporation is a private equity firm specializing in acquisitions and platform acquisitions More
Onex Corp 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 Onex Corp'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 Onex Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.32 | |||
| Information Ratio | 0.1133 | |||
| Maximum Drawdown | 8.57 | |||
| Value At Risk | (2.04) | |||
| Potential Upside | 3.21 |
Onex Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Onex Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Onex Corp's standard deviation. In reality, there are many statistical measures that can use Onex Corp historical prices to predict the future Onex Corp's volatility.| Risk Adjusted Performance | 0.1523 | |||
| Jensen Alpha | 0.2106 | |||
| Total Risk Alpha | 0.0473 | |||
| Sortino Ratio | 0.1418 | |||
| Treynor Ratio | 0.3816 |
Onex Corp Backtested Returns
Onex Corp appears to be very steady, given 3 months investment horizon. Onex Corp maintains Sharpe Ratio (i.e., Efficiency) of 0.2, which implies the firm had a 0.2% return per unit of risk over the last 3 months. We have found thirty technical indicators for Onex Corp, which you can use to evaluate the volatility of the company. Please evaluate Onex Corp's Coefficient Of Variation of 520.41, semi deviation of 0.9625, and Risk Adjusted Performance of 0.1523 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Onex Corp holds a performance score of 16. The company holds a Beta of 0.81, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Onex Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Onex Corp is expected to be smaller as well. Please check Onex Corp's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Onex Corp's historical price patterns will revert.
Auto-correlation | -0.22 |
Weak reverse predictability
Onex Corp has weak reverse predictability. Overlapping area represents the amount of predictability between Onex Corp time series from 3rd of December 2023 to 31st of May 2024 and 31st of May 2024 to 27th 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 Onex Corp price movement. The serial correlation of -0.22 indicates that over 22.0% of current Onex Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 45.16 |
Onex Corp lagged returns against current returns
Autocorrelation, which is Onex Corp 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 Onex Corp's stock expected returns. We can calculate the autocorrelation of Onex Corp returns to help us make a trade decision. For example, suppose you find that Onex Corp 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 |
Onex Corp 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 Onex Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Onex Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Onex Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Onex Corp Lagged Returns
When evaluating Onex Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Onex Corp stock have on its future price. Onex Corp 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, Onex Corp autocorrelation shows the relationship between Onex Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Onex Corp.
Regressed Prices |
| Timeline |
Pair Trading with Onex Corp
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 Onex Corp 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 Onex Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Onex Stock
| 0.86 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.69 | RY | Royal Bank Earnings Call This Week | PairCorr |
| 0.82 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.82 | TD-PFI | Toronto Dominion Bank | PairCorr |
Moving against Onex Stock
The ability to find closely correlated positions to Onex Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Onex Corp 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 Onex Corp - 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 Onex Corp to buy it.
The correlation of Onex Corp 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 Onex Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Onex Corp 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 Onex Corp 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 Onex Stock
Onex Corp financial ratios help investors to determine whether Onex 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 Onex with respect to the benefits of owning Onex Corp security.