Supremex Stock Market Value
| SXP Stock | CAD 4.05 0.05 1.22% |
| Symbol | Supremex |
Supremex Price To Book Ratio
Supremex '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 Supremex'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 Supremex.
| 10/29/2023 |
| 11/22/2024 |
If you would invest 0.00 in Supremex on October 29, 2023 and sell it all today you would earn a total of 0.00 from holding Supremex or generate 0.0% return on investment in Supremex over 390 days. Supremex is related to or competes with High Liner, Tree Island, Chesswood Group, and Hammond Power. Supremex Inc. manufactures, markets, and sells envelopes, and paper packaging solutions and specialty products in North ... More
Supremex 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 Supremex'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 Supremex upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.17 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 12.84 | |||
| Value At Risk | (4.29) | |||
| Potential Upside | 3.44 |
Supremex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Supremex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Supremex's standard deviation. In reality, there are many statistical measures that can use Supremex historical prices to predict the future Supremex's volatility.| Risk Adjusted Performance | 0.0202 | |||
| Jensen Alpha | 0.1317 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.04) |
Supremex Backtested Returns
Supremex owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0249, which indicates the firm had a -0.0249% return per unit of risk over the last 3 months. Supremex exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Supremex's Semi Deviation of 2.89, risk adjusted performance of 0.0202, and Coefficient Of Variation of 5817.67 to confirm the risk estimate we provide. The entity has a beta of -0.98, which indicates possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Supremex are expected to decrease slowly. On the other hand, during market turmoil, Supremex is expected to outperform it slightly. At this point, Supremex has a negative expected return of -0.0649%. Please make sure to validate Supremex's semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if Supremex performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.26 |
Poor predictability
Supremex has poor predictability. Overlapping area represents the amount of predictability between Supremex time series from 29th of October 2023 to 11th of May 2024 and 11th of May 2024 to 22nd 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 Supremex price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Supremex price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Supremex lagged returns against current returns
Autocorrelation, which is Supremex 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 Supremex's stock expected returns. We can calculate the autocorrelation of Supremex returns to help us make a trade decision. For example, suppose you find that Supremex 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 |
Supremex 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 Supremex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Supremex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Supremex stock over time.
Current vs Lagged Prices |
| Timeline |
Supremex Lagged Returns
When evaluating Supremex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Supremex stock have on its future price. Supremex 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, Supremex autocorrelation shows the relationship between Supremex stock current value and its past values and can show if there is a momentum factor associated with investing in Supremex.
Regressed Prices |
| Timeline |
Pair Trading with Supremex
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 Supremex 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 Supremex will appreciate offsetting losses from the drop in the long position's value.Moving against Supremex Stock
The ability to find closely correlated positions to Supremex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Supremex 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 Supremex - 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 Supremex to buy it.
The correlation of Supremex 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 Supremex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Supremex 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 Supremex 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 Supremex Stock
Supremex financial ratios help investors to determine whether Supremex 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 Supremex with respect to the benefits of owning Supremex security.