Stingray Group Stock Market Value
| RAY-A Stock | CAD 8.15 0.07 0.85% |
| Symbol | Stingray |
Stingray Group Price To Book Ratio
Stingray '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 Stingray'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 Stingray.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Stingray on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Stingray Group or generate 0.0% return on investment in Stingray over 30 days. Stingray is related to or competes with TECSYS, Fiera Capital, Quarterhill, Savaria, and Andlauer Healthcare. Stingray Group Inc. provides business-to-business multi-platform music, and in-store music and video solutions to busine... More
Stingray 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 Stingray'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 Stingray Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.63 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 9.52 | |||
| Value At Risk | (2.52) | |||
| Potential Upside | 2.6 |
Stingray Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Stingray's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Stingray's standard deviation. In reality, there are many statistical measures that can use Stingray historical prices to predict the future Stingray's volatility.| Risk Adjusted Performance | 0.0414 | |||
| Jensen Alpha | 8.0E-4 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1221 |
Stingray Group Backtested Returns
Currently, Stingray Group is not too volatile. Stingray Group owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0332, which indicates the firm had a 0.0332% return per unit of risk over the last 3 months. We have found thirty technical indicators for Stingray Group, which you can use to evaluate the volatility of the company. Please validate Stingray's Risk Adjusted Performance of 0.0414, coefficient of variation of 2156.56, and Semi Deviation of 1.48 to confirm if the risk estimate we provide is consistent with the expected return of 0.0615%. Stingray has a performance score of 2 on a scale of 0 to 100. The entity has a beta of 0.61, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Stingray's returns are expected to increase less than the market. However, during the bear market, the loss of holding Stingray is expected to be smaller as well. Stingray Group right now has a risk of 1.85%. Please validate Stingray total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if Stingray will be following its existing price patterns.
Auto-correlation | 0.48 |
Average predictability
Stingray Group has average predictability. Overlapping area represents the amount of predictability between Stingray time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Stingray Group price movement. The serial correlation of 0.48 indicates that about 48.0% of current Stingray price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Stingray Group lagged returns against current returns
Autocorrelation, which is Stingray 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 Stingray's stock expected returns. We can calculate the autocorrelation of Stingray returns to help us make a trade decision. For example, suppose you find that Stingray 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 |
Stingray 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 Stingray stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Stingray stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Stingray stock over time.
Current vs Lagged Prices |
| Timeline |
Stingray Lagged Returns
When evaluating Stingray's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Stingray stock have on its future price. Stingray 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, Stingray autocorrelation shows the relationship between Stingray stock current value and its past values and can show if there is a momentum factor associated with investing in Stingray Group.
Regressed Prices |
| Timeline |
Pair Trading with Stingray
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 Stingray 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 Stingray will appreciate offsetting losses from the drop in the long position's value.Moving against Stingray Stock
The ability to find closely correlated positions to Stingray could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stingray 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 Stingray - 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 Stingray Group to buy it.
The correlation of Stingray 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 Stingray moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stingray 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 Stingray 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.Additional Tools for Stingray Stock Analysis
When running Stingray's price analysis, check to measure Stingray's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Stingray is operating at the current time. Most of Stingray's value examination focuses on studying past and present price action to predict the probability of Stingray's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Stingray's price. Additionally, you may evaluate how the addition of Stingray to your portfolios can decrease your overall portfolio volatility.