Richards Packaging Income Stock Market Value
| RPI-UN Stock | CAD 28.95 0.41 1.40% |
| Symbol | Richards |
Richards Packaging Income Price To Book Ratio
Richards Packaging '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 Richards Packaging'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 Richards Packaging.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Richards Packaging on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Richards Packaging Income or generate 0.0% return on investment in Richards Packaging over 30 days. Richards Packaging is related to or competes with K Bro, Keg Royalties, Pollard Banknote, SIR Royalty, and Calian Technologies. Richards Packaging Income Fund, together with its subsidiaries, manufactures and distributes packaging products in Canad... More
Richards Packaging 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 Richards Packaging'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 Richards Packaging Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 4.62 | |||
| Value At Risk | (1.79) | |||
| Potential Upside | 1.77 |
Richards Packaging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Richards Packaging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Richards Packaging's standard deviation. In reality, there are many statistical measures that can use Richards Packaging historical prices to predict the future Richards Packaging's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.75) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Richards Packaging's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Richards Packaging Income Backtested Returns
Richards Packaging Income maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the firm had a -0.11% return per unit of risk over the last 3 months. Richards Packaging Income exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Richards Packaging's Coefficient Of Variation of (976.24), variance of 1.23, and Risk Adjusted Performance of (0.08) to confirm the risk estimate we provide. The company holds a Beta of 0.16, which implies not very significant fluctuations relative to the market. As returns on the market increase, Richards Packaging's returns are expected to increase less than the market. However, during the bear market, the loss of holding Richards Packaging is expected to be smaller as well. At this point, Richards Packaging Income has a negative expected return of -0.12%. Please make sure to check Richards Packaging's potential upside, and the relationship between the total risk alpha and daily balance of power , to decide if Richards Packaging Income performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.84 |
Very good predictability
Richards Packaging Income has very good predictability. Overlapping area represents the amount of predictability between Richards Packaging time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Richards Packaging Income price movement. The serial correlation of 0.84 indicates that around 84.0% of current Richards Packaging price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Richards Packaging Income lagged returns against current returns
Autocorrelation, which is Richards Packaging 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 Richards Packaging's stock expected returns. We can calculate the autocorrelation of Richards Packaging returns to help us make a trade decision. For example, suppose you find that Richards Packaging 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 |
Richards Packaging 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 Richards Packaging stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Richards Packaging stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Richards Packaging stock over time.
Current vs Lagged Prices |
| Timeline |
Richards Packaging Lagged Returns
When evaluating Richards Packaging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Richards Packaging stock have on its future price. Richards Packaging 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, Richards Packaging autocorrelation shows the relationship between Richards Packaging stock current value and its past values and can show if there is a momentum factor associated with investing in Richards Packaging Income.
Regressed Prices |
| Timeline |
Pair Trading with Richards Packaging
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 Richards Packaging 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 Richards Packaging will appreciate offsetting losses from the drop in the long position's value.Moving together with Richards Stock
Moving against Richards Stock
| 0.62 | FFH-PC | Fairfax Fin Hld | PairCorr |
| 0.55 | RY-PS | Royal Bank | PairCorr |
| 0.51 | FFH-PH | Fairfax Financial | PairCorr |
| 0.39 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.37 | BMO-PE | Bank of Montreal | PairCorr |
The ability to find closely correlated positions to Richards Packaging could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Richards Packaging 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 Richards Packaging - 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 Richards Packaging Income to buy it.
The correlation of Richards Packaging 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 Richards Packaging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Richards Packaging Income 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 Richards Packaging 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 Richards Stock
Richards Packaging financial ratios help investors to determine whether Richards 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 Richards with respect to the benefits of owning Richards Packaging security.