Uniteds Limited Stock Market Value
| UNC Stock | CAD 131.95 0.95 0.73% |
| Symbol | Uniteds |
Uniteds Limited Price To Book Ratio
Uniteds '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 Uniteds' 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 Uniteds.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Uniteds on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Uniteds Limited or generate 0.0% return on investment in Uniteds over 30 days. Uniteds is related to or competes with Economic Investment, Canadian General, E L, Clairvest, and Senvest Capital. United Corporations Limited is a closed ended equity fund launched and managed by Jarislowsky, Fraser Limited More
Uniteds 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 Uniteds' 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 Uniteds Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9705 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 3.88 | |||
| Value At Risk | (1.18) | |||
| Potential Upside | 1.32 |
Uniteds Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Uniteds' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Uniteds' standard deviation. In reality, there are many statistical measures that can use Uniteds historical prices to predict the future Uniteds' volatility.| Risk Adjusted Performance | 0.0948 | |||
| Jensen Alpha | 0.0338 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.213 |
Uniteds Limited Backtested Returns
As of now, Uniteds Stock is very steady. Uniteds Limited owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.12, which indicates the firm had a 0.12% return per unit of risk over the last 3 months. We have found thirty technical indicators for Uniteds Limited, which you can use to evaluate the volatility of the company. Please validate Uniteds' Semi Deviation of 0.6602, risk adjusted performance of 0.0948, and Coefficient Of Variation of 801.45 to confirm if the risk estimate we provide is consistent with the expected return of 0.0871%. Uniteds has a performance score of 9 on a scale of 0 to 100. The entity has a beta of 0.37, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Uniteds' returns are expected to increase less than the market. However, during the bear market, the loss of holding Uniteds is expected to be smaller as well. Uniteds Limited right now has a risk of 0.72%. Please validate Uniteds sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Uniteds will be following its existing price patterns.
Auto-correlation | 0.12 |
Insignificant predictability
Uniteds Limited has insignificant predictability. Overlapping area represents the amount of predictability between Uniteds time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Uniteds Limited price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Uniteds price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.74 |
Uniteds Limited lagged returns against current returns
Autocorrelation, which is Uniteds 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 Uniteds' stock expected returns. We can calculate the autocorrelation of Uniteds returns to help us make a trade decision. For example, suppose you find that Uniteds 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 |
Uniteds 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 Uniteds stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Uniteds stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Uniteds stock over time.
Current vs Lagged Prices |
| Timeline |
Uniteds Lagged Returns
When evaluating Uniteds' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Uniteds stock have on its future price. Uniteds 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, Uniteds autocorrelation shows the relationship between Uniteds stock current value and its past values and can show if there is a momentum factor associated with investing in Uniteds Limited.
Regressed Prices |
| Timeline |
Pair Trading with Uniteds
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 Uniteds 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 Uniteds will appreciate offsetting losses from the drop in the long position's value.Moving against Uniteds Stock
The ability to find closely correlated positions to Uniteds could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Uniteds 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 Uniteds - 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 Uniteds Limited to buy it.
The correlation of Uniteds 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 Uniteds moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Uniteds Limited 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 Uniteds 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 Uniteds Stock
Uniteds financial ratios help investors to determine whether Uniteds 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 Uniteds with respect to the benefits of owning Uniteds security.