Ritchie Bros Auctioneers Stock Market Value
| RBA Stock | CAD 137.55 0.86 0.63% |
| Symbol | Ritchie |
Ritchie Bros Auctioneers Price To Book Ratio
Ritchie Bros '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 Ritchie Bros' 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 Ritchie Bros.
| 01/06/2023 |
| 11/26/2024 |
If you would invest 0.00 in Ritchie Bros on January 6, 2023 and sell it all today you would earn a total of 0.00 from holding Ritchie Bros Auctioneers or generate 0.0% return on investment in Ritchie Bros over 690 days. Ritchie Bros is related to or competes with Toromont Industries, Stantec, Finning International, FirstService Corp, and CCL Industries. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable asse... More
Ritchie Bros 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 Ritchie Bros' 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 Ritchie Bros Auctioneers upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.17 | |||
| Information Ratio | 0.1042 | |||
| Maximum Drawdown | 8.18 | |||
| Value At Risk | (1.72) | |||
| Potential Upside | 2.84 |
Ritchie Bros Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ritchie Bros' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ritchie Bros' standard deviation. In reality, there are many statistical measures that can use Ritchie Bros historical prices to predict the future Ritchie Bros' volatility.| Risk Adjusted Performance | 0.1503 | |||
| Jensen Alpha | 0.2407 | |||
| Total Risk Alpha | 0.0424 | |||
| Sortino Ratio | 0.1327 | |||
| Treynor Ratio | 0.972 |
Ritchie Bros Auctioneers Backtested Returns
Ritchie Bros appears to be very steady, given 3 months investment horizon. Ritchie Bros Auctioneers 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 twenty-nine technical indicators for Ritchie Bros Auctioneers, which you can use to evaluate the volatility of the company. Please evaluate Ritchie Bros' Risk Adjusted Performance of 0.1503, coefficient of variation of 525.41, and Semi Deviation of 0.9141 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ritchie Bros holds a performance score of 15. The company holds a Beta of 0.28, which implies not very significant fluctuations relative to the market. As returns on the market increase, Ritchie Bros' returns are expected to increase less than the market. However, during the bear market, the loss of holding Ritchie Bros is expected to be smaller as well. Please check Ritchie Bros' value at risk, kurtosis, market facilitation index, as well as the relationship between the semi variance and rate of daily change , to make a quick decision on whether Ritchie Bros' historical price patterns will revert.
Auto-correlation | 0.52 |
Modest predictability
Ritchie Bros Auctioneers has modest predictability. Overlapping area represents the amount of predictability between Ritchie Bros time series from 6th of January 2023 to 17th of December 2023 and 17th 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 Ritchie Bros Auctioneers price movement. The serial correlation of 0.52 indicates that about 52.0% of current Ritchie Bros price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 134.82 |
Ritchie Bros Auctioneers lagged returns against current returns
Autocorrelation, which is Ritchie Bros 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 Ritchie Bros' stock expected returns. We can calculate the autocorrelation of Ritchie Bros returns to help us make a trade decision. For example, suppose you find that Ritchie Bros 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 |
Ritchie Bros 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 Ritchie Bros stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ritchie Bros stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ritchie Bros stock over time.
Current vs Lagged Prices |
| Timeline |
Ritchie Bros Lagged Returns
When evaluating Ritchie Bros' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ritchie Bros stock have on its future price. Ritchie Bros 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, Ritchie Bros autocorrelation shows the relationship between Ritchie Bros stock current value and its past values and can show if there is a momentum factor associated with investing in Ritchie Bros Auctioneers.
Regressed Prices |
| Timeline |
Pair Trading with Ritchie Bros
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 Ritchie Bros 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 Ritchie Bros will appreciate offsetting losses from the drop in the long position's value.Moving together with Ritchie Stock
| 0.8 | FFH | Fairfax Financial | PairCorr |
| 0.79 | FFH-PM | Fairfax Financial | PairCorr |
| 0.67 | FFH-PJ | Fairfax Financial | PairCorr |
| 0.69 | FFH-PH | Fairfax Financial | PairCorr |
| 0.69 | FFH-PF | Fairfax Financial | PairCorr |
The ability to find closely correlated positions to Ritchie Bros could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ritchie Bros 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 Ritchie Bros - 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 Ritchie Bros Auctioneers to buy it.
The correlation of Ritchie Bros 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 Ritchie Bros moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ritchie Bros Auctioneers 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 Ritchie Bros 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 Ritchie Stock
Ritchie Bros financial ratios help investors to determine whether Ritchie 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 Ritchie with respect to the benefits of owning Ritchie Bros security.