Tucows Inc Stock Market Value
| TC Stock | CAD 22.63 0.12 0.53% |
| Symbol | Tucows |
Tucows Inc Price To Book Ratio
Tucows '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 Tucows' 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 Tucows.
| 12/05/2022 |
| 11/24/2024 |
If you would invest 0.00 in Tucows on December 5, 2022 and sell it all today you would earn a total of 0.00 from holding Tucows Inc or generate 0.0% return on investment in Tucows over 720 days. Tucows is related to or competes with TECSYS, Descartes Systems, Enghouse Systems, and Evertz Technologies. Tucows Inc. provides network access, domain name registration, email, mobile telephony, and other Internet services in C... More
Tucows 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 Tucows' 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 Tucows Inc upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 14.94 | |||
| Value At Risk | (5.83) | |||
| Potential Upside | 5.58 |
Tucows Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tucows' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tucows' standard deviation. In reality, there are many statistical measures that can use Tucows historical prices to predict the future Tucows' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.84) | |||
| Treynor Ratio | (0.60) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tucows' 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.
Tucows Inc Backtested Returns
Tucows Inc owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.17, which indicates the firm had a -0.17% return per unit of risk over the last 3 months. Tucows Inc exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tucows' Risk Adjusted Performance of (0.07), variance of 10.28, and Coefficient Of Variation of (979.84) to confirm the risk estimate we provide. The entity has a beta of 0.56, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tucows' returns are expected to increase less than the market. However, during the bear market, the loss of holding Tucows is expected to be smaller as well. At this point, Tucows Inc has a negative expected return of -0.5%. Please make sure to validate Tucows' maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Tucows Inc performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Tucows Inc has modest predictability. Overlapping area represents the amount of predictability between Tucows time series from 5th of December 2022 to 30th of November 2023 and 30th of November 2023 to 24th 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 Tucows Inc price movement. The serial correlation of 0.53 indicates that about 53.0% of current Tucows price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 10.33 |
Tucows Inc lagged returns against current returns
Autocorrelation, which is Tucows 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 Tucows' stock expected returns. We can calculate the autocorrelation of Tucows returns to help us make a trade decision. For example, suppose you find that Tucows 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 |
Tucows 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 Tucows stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tucows stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tucows stock over time.
Current vs Lagged Prices |
| Timeline |
Tucows Lagged Returns
When evaluating Tucows' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tucows stock have on its future price. Tucows 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, Tucows autocorrelation shows the relationship between Tucows stock current value and its past values and can show if there is a momentum factor associated with investing in Tucows Inc.
Regressed Prices |
| Timeline |
Pair Trading with Tucows
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 Tucows 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 Tucows will appreciate offsetting losses from the drop in the long position's value.Moving together with Tucows Stock
Moving against Tucows Stock
| 0.82 | IMP | Intermap Technologies | PairCorr |
| 0.77 | TD-PFI | Toronto Dominion Bank | PairCorr |
| 0.76 | NVDA | NVIDIA CDR | PairCorr |
| 0.67 | ETG | Entree Resources | PairCorr |
| 0.61 | CDR | Condor Energies | PairCorr |
The ability to find closely correlated positions to Tucows could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tucows 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 Tucows - 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 Tucows Inc to buy it.
The correlation of Tucows 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 Tucows moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tucows Inc 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 Tucows 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.Check out Tucows Correlation, Tucows Volatility and Tucows Alpha and Beta module to complement your research on Tucows. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
Tucows technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.