Tfi International Stock Market Value
| TFII Stock | CAD 207.62 0.73 0.35% |
| Symbol | TFI |
TFI International Price To Book Ratio
TFI International '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 TFI International'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 TFI International.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in TFI International on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding TFI International or generate 0.0% return on investment in TFI International over 30 days. TFI International is related to or competes with WSP Global, Waste Connections, Open Text, Cargojet, and BRP. TFI International Inc. provides transportation and logistics services in the United States, Canada, and Mexico More
TFI International 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 TFI International'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 TFI International upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.44 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 13.13 | |||
| Value At Risk | (2.81) | |||
| Potential Upside | 2.44 |
TFI International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TFI International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TFI International's standard deviation. In reality, there are many statistical measures that can use TFI International historical prices to predict the future TFI International's volatility.| Risk Adjusted Performance | 0.0343 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.19) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0436 |
TFI International Backtested Returns
As of now, TFI Stock is very steady. TFI International owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0246, which indicates the firm had a 0.0246% return per unit of volatility over the last 3 months. We have found twenty-eight technical indicators for TFI International, which you can use to evaluate the volatility of the company. Please validate TFI International's coefficient of variation of 2710.66, and Risk Adjusted Performance of 0.0343 to confirm if the risk estimate we provide is consistent with the expected return of 0.0495%. TFI International has a performance score of 1 on a scale of 0 to 100. The entity has a beta of 1.44, which indicates a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, TFI International will likely underperform. TFI International currently has a risk of 2.01%. Please validate TFI International total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if TFI International will be following its existing price patterns.
Auto-correlation | 0.57 |
Modest predictability
TFI International has modest predictability. Overlapping area represents the amount of predictability between TFI International time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 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 TFI International price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current TFI International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 6.35 |
TFI International lagged returns against current returns
Autocorrelation, which is TFI International 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 TFI International's stock expected returns. We can calculate the autocorrelation of TFI International returns to help us make a trade decision. For example, suppose you find that TFI International 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 |
TFI International 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 TFI International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TFI International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TFI International stock over time.
Current vs Lagged Prices |
| Timeline |
TFI International Lagged Returns
When evaluating TFI International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TFI International stock have on its future price. TFI International 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, TFI International autocorrelation shows the relationship between TFI International stock current value and its past values and can show if there is a momentum factor associated with investing in TFI International.
Regressed Prices |
| Timeline |
Pair Trading with TFI International
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 TFI International 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 TFI International will appreciate offsetting losses from the drop in the long position's value.Moving against TFI Stock
The ability to find closely correlated positions to TFI International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TFI International 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 TFI International - 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 TFI International to buy it.
The correlation of TFI International 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 TFI International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TFI International 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 TFI International 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 TFI International Correlation, TFI International Volatility and TFI International Alpha and Beta module to complement your research on TFI International. To learn how to invest in TFI Stock, please use our How to Invest in TFI International guide.You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
TFI International 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.