Transcontinental Stock Market Value
| TCL-A Stock | CAD 17.14 0.03 0.18% |
| Symbol | Transcontinental |
Transcontinental Price To Book Ratio
Transcontinental '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 Transcontinental'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 Transcontinental.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Transcontinental on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Transcontinental or generate 0.0% return on investment in Transcontinental over 30 days. Transcontinental is related to or competes with Cogeco Communications, Quebecor, CCL Industries, Finning International, and North West. Transcontinental Inc. engages in the flexible packaging business in Canada, the United States, Latin America, the United... More
Transcontinental 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 Transcontinental'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 Transcontinental upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.14 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 6.97 | |||
| Value At Risk | (1.85) | |||
| Potential Upside | 1.99 |
Transcontinental Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Transcontinental's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Transcontinental's standard deviation. In reality, there are many statistical measures that can use Transcontinental historical prices to predict the future Transcontinental's volatility.| Risk Adjusted Performance | 0.0702 | |||
| Jensen Alpha | 0.0877 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 1.23 |
Transcontinental Backtested Returns
Currently, Transcontinental is very steady. Transcontinental owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0683, which indicates the firm had a 0.0683% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Transcontinental, which you can use to evaluate the volatility of the company. Please validate Transcontinental's Risk Adjusted Performance of 0.0702, coefficient of variation of 1151.58, and Semi Deviation of 1.03 to confirm if the risk estimate we provide is consistent with the expected return of 0.0832%. Transcontinental has a performance score of 5 on a scale of 0 to 100. The entity has a beta of 0.0786, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Transcontinental's returns are expected to increase less than the market. However, during the bear market, the loss of holding Transcontinental is expected to be smaller as well. Transcontinental right now has a risk of 1.22%. Please validate Transcontinental coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if Transcontinental will be following its existing price patterns.
Auto-correlation | 0.29 |
Poor predictability
Transcontinental has poor predictability. Overlapping area represents the amount of predictability between Transcontinental 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 Transcontinental price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Transcontinental price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Transcontinental lagged returns against current returns
Autocorrelation, which is Transcontinental 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 Transcontinental's stock expected returns. We can calculate the autocorrelation of Transcontinental returns to help us make a trade decision. For example, suppose you find that Transcontinental 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 |
Transcontinental 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 Transcontinental stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Transcontinental stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Transcontinental stock over time.
Current vs Lagged Prices |
| Timeline |
Transcontinental Lagged Returns
When evaluating Transcontinental's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Transcontinental stock have on its future price. Transcontinental 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, Transcontinental autocorrelation shows the relationship between Transcontinental stock current value and its past values and can show if there is a momentum factor associated with investing in Transcontinental.
Regressed Prices |
| Timeline |
Pair Trading with Transcontinental
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 Transcontinental 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 Transcontinental will appreciate offsetting losses from the drop in the long position's value.Moving together with Transcontinental Stock
| 0.61 | AG | First Majestic Silver | PairCorr |
| 0.7 | IE | Ivanhoe Energy | PairCorr |
| 0.75 | FDY | Faraday Copper Corp | PairCorr |
Moving against Transcontinental Stock
The ability to find closely correlated positions to Transcontinental could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Transcontinental 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 Transcontinental - 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 Transcontinental to buy it.
The correlation of Transcontinental 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 Transcontinental moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Transcontinental 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 Transcontinental 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.Additional Tools for Transcontinental Stock Analysis
When running Transcontinental's price analysis, check to measure Transcontinental's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Transcontinental is operating at the current time. Most of Transcontinental's value examination focuses on studying past and present price action to predict the probability of Transcontinental's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Transcontinental's price. Additionally, you may evaluate how the addition of Transcontinental to your portfolios can decrease your overall portfolio volatility.