Stella Jones Stock Market Value
| SJ Stock | CAD 71.32 0.63 0.89% |
| Symbol | Stella |
Stella Jones Price To Book Ratio
Stella Jones '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 Stella Jones' 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 Stella Jones.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Stella Jones on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Stella Jones or generate 0.0% return on investment in Stella Jones over 30 days. Stella Jones is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. Stella-Jones Inc. produces, markets, and sells pressure treated wood products in Canada and the United States More
Stella Jones 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 Stella Jones' 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 Stella Jones upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 17.72 | |||
| Value At Risk | (2.36) | |||
| Potential Upside | 2.5 |
Stella Jones Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Stella Jones' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Stella Jones' standard deviation. In reality, there are many statistical measures that can use Stella Jones historical prices to predict the future Stella Jones' volatility.| Risk Adjusted Performance | (0.1) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.67) | |||
| Treynor Ratio | 0.2274 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Stella Jones' 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.
Stella Jones Backtested Returns
Stella Jones owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the firm had a -0.14% return per unit of risk over the last 3 months. Stella Jones exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Stella Jones' Variance of 5.09, risk adjusted performance of (0.1), and Coefficient Of Variation of (733.05) to confirm the risk estimate we provide. The entity has a beta of -1.4, which indicates a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Stella Jones are expected to decrease by larger amounts. On the other hand, during market turmoil, Stella Jones is expected to outperform it. At this point, Stella Jones has a negative expected return of -0.31%. Please make sure to validate Stella Jones' maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Stella Jones performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.32 |
Poor reverse predictability
Stella Jones has poor reverse predictability. Overlapping area represents the amount of predictability between Stella Jones 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 Stella Jones price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Stella Jones price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.97 |
Stella Jones lagged returns against current returns
Autocorrelation, which is Stella Jones 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 Stella Jones' stock expected returns. We can calculate the autocorrelation of Stella Jones returns to help us make a trade decision. For example, suppose you find that Stella Jones 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 |
Stella Jones 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 Stella Jones stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Stella Jones stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Stella Jones stock over time.
Current vs Lagged Prices |
| Timeline |
Stella Jones Lagged Returns
When evaluating Stella Jones' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Stella Jones stock have on its future price. Stella Jones 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, Stella Jones autocorrelation shows the relationship between Stella Jones stock current value and its past values and can show if there is a momentum factor associated with investing in Stella Jones.
Regressed Prices |
| Timeline |
Pair Trading with Stella Jones
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 Stella Jones 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 Stella Jones will appreciate offsetting losses from the drop in the long position's value.Moving together with Stella Stock
Moving against Stella Stock
| 0.79 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.73 | NVDA | NVIDIA CDR | PairCorr |
| 0.59 | IE | Ivanhoe Energy | PairCorr |
| 0.58 | FDY | Faraday Copper Corp | PairCorr |
| 0.33 | AG | First Majestic Silver | PairCorr |
The ability to find closely correlated positions to Stella Jones could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Stella Jones 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 Stella Jones - 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 Stella Jones to buy it.
The correlation of Stella Jones 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 Stella Jones moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stella Jones 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 Stella Jones 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 Stella Stock
Stella Jones financial ratios help investors to determine whether Stella 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 Stella with respect to the benefits of owning Stella Jones security.