Sir Royalty Income Stock Market Value
| SRV-UN Stock | CAD 12.86 0.27 2.14% |
| Symbol | SIR |
SIR Royalty Income Price To Book Ratio
SIR Royalty '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 SIR Royalty'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 SIR Royalty.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in SIR Royalty on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding SIR Royalty Income or generate 0.0% return on investment in SIR Royalty over 30 days. SIR Royalty is related to or competes with Apple, Berkshire Hathaway, Microsoft Corp, Alphabet, JPMorgan Chase, Amazon CDR, and NVIDIA CDR. SIR Royalty Income Fund, through SIR Royalty Limited Partnership, owns SIRs restaurants in Canada More
SIR Royalty 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 SIR Royalty'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 SIR Royalty Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.21 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 9.69 | |||
| Value At Risk | (2.03) | |||
| Potential Upside | 1.51 |
SIR Royalty Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SIR Royalty's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SIR Royalty's standard deviation. In reality, there are many statistical measures that can use SIR Royalty historical prices to predict the future SIR Royalty's volatility.| Risk Adjusted Performance | 0.0154 | |||
| Jensen Alpha | 0.0015 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | 0.1415 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of SIR Royalty'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.
SIR Royalty Income Backtested Returns
At this point, SIR Royalty is not too volatile. SIR Royalty Income owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0443, which indicates the firm had a 0.0443% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for SIR Royalty Income, which you can use to evaluate the volatility of the company. Please validate SIR Royalty's risk adjusted performance of 0.0154, and Coefficient Of Variation of 6832.17 to confirm if the risk estimate we provide is consistent with the expected return of 0.0617%. SIR Royalty has a performance score of 3 on a scale of 0 to 100. The entity has a beta of 0.0669, which indicates not very significant fluctuations relative to the market. As returns on the market increase, SIR Royalty's returns are expected to increase less than the market. However, during the bear market, the loss of holding SIR Royalty is expected to be smaller as well. SIR Royalty Income currently has a risk of 1.39%. Please validate SIR Royalty expected short fall, and the relationship between the value at risk and daily balance of power , to decide if SIR Royalty will be following its existing price patterns.
Auto-correlation | -0.02 |
Very weak reverse predictability
SIR Royalty Income has very weak reverse predictability. Overlapping area represents the amount of predictability between SIR Royalty time series from 28th of October 2024 to 12th of November 2024 and 12th of November 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 SIR Royalty Income price movement. The serial correlation of -0.02 indicates that only 2.0% of current SIR Royalty price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
SIR Royalty Income lagged returns against current returns
Autocorrelation, which is SIR Royalty 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 SIR Royalty's stock expected returns. We can calculate the autocorrelation of SIR Royalty returns to help us make a trade decision. For example, suppose you find that SIR Royalty 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 |
SIR Royalty 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 SIR Royalty stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SIR Royalty stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SIR Royalty stock over time.
Current vs Lagged Prices |
| Timeline |
SIR Royalty Lagged Returns
When evaluating SIR Royalty's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SIR Royalty stock have on its future price. SIR Royalty 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, SIR Royalty autocorrelation shows the relationship between SIR Royalty stock current value and its past values and can show if there is a momentum factor associated with investing in SIR Royalty Income.
Regressed Prices |
| Timeline |
Pair Trading with SIR Royalty
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 SIR Royalty 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 SIR Royalty will appreciate offsetting losses from the drop in the long position's value.Moving together with SIR Stock
Moving against SIR Stock
The ability to find closely correlated positions to SIR Royalty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SIR Royalty 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 SIR Royalty - 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 SIR Royalty Income to buy it.
The correlation of SIR Royalty 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 SIR Royalty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SIR Royalty 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 SIR Royalty 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 SIR Stock
SIR Royalty financial ratios help investors to determine whether SIR 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 SIR with respect to the benefits of owning SIR Royalty security.