Waste Connections Stock Market Value
| WCN Stock | USD 189.87 0.86 0.46% |
| Symbol | Waste |
Waste Connections Price To Book Ratio
Is Environmental & Facilities Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Waste Connections. If investors know Waste will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Waste Connections listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.339 | Dividend Share 1.14 | Earnings Share 3.65 | Revenue Per Share 33.72 | Quarterly Revenue Growth 0.133 |
The market value of Waste Connections is measured differently than its book value, which is the value of Waste that is recorded on the company's balance sheet. Investors also form their own opinion of Waste Connections' value that differs from its market value or its book value, called intrinsic value, which is Waste Connections' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Waste Connections' market value can be influenced by many factors that don't directly affect Waste Connections' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Waste Connections' value and its price as these two are different measures arrived at by different means. Investors typically determine if Waste Connections is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Waste Connections' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Waste Connections '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 Waste Connections' 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 Waste Connections.
| 12/03/2022 |
| 11/22/2024 |
If you would invest 0.00 in Waste Connections on December 3, 2022 and sell it all today you would earn a total of 0.00 from holding Waste Connections or generate 0.0% return on investment in Waste Connections over 720 days. Waste Connections is related to or competes with Clean Harbors, Casella Waste, Waste Management, Gfl Environmental, Republic Services, and Montrose Environmental. Waste Connections, Inc. provides non-hazardous waste collection, transfer, disposal, and resource recovery services in t... More
Waste Connections 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 Waste Connections' 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 Waste Connections upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9364 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 4.0 | |||
| Value At Risk | (1.55) | |||
| Potential Upside | 1.37 |
Waste Connections Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Waste Connections' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Waste Connections' standard deviation. In reality, there are many statistical measures that can use Waste Connections historical prices to predict the future Waste Connections' volatility.| Risk Adjusted Performance | 0.0387 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.0904 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Waste Connections' 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.
Waste Connections Backtested Returns
As of now, Waste Stock is very steady. Waste Connections shows Sharpe Ratio of 0.0389, which attests that the company had a 0.0389% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Waste Connections, which you can use to evaluate the volatility of the company. Please check out Waste Connections' Mean Deviation of 0.6846, market risk adjusted performance of 0.1004, and Downside Deviation of 0.9364 to validate if the risk estimate we provide is consistent with the expected return of 0.0351%. Waste Connections has a performance score of 3 on a scale of 0 to 100. The firm maintains a market beta of 0.37, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Waste Connections' returns are expected to increase less than the market. However, during the bear market, the loss of holding Waste Connections is expected to be smaller as well. Waste Connections right now maintains a risk of 0.9%. Please check out Waste Connections downside variance, as well as the relationship between the accumulation distribution and price action indicator , to decide if Waste Connections will be following its historical returns.
Auto-correlation | 0.31 |
Below average predictability
Waste Connections has below average predictability. Overlapping area represents the amount of predictability between Waste Connections time series from 3rd of December 2022 to 28th of November 2023 and 28th of November 2023 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 Waste Connections price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Waste Connections price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | 0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 172.62 |
Waste Connections lagged returns against current returns
Autocorrelation, which is Waste Connections 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 Waste Connections' stock expected returns. We can calculate the autocorrelation of Waste Connections returns to help us make a trade decision. For example, suppose you find that Waste Connections 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 |
Waste Connections 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 Waste Connections stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Waste Connections stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Waste Connections stock over time.
Current vs Lagged Prices |
| Timeline |
Waste Connections Lagged Returns
When evaluating Waste Connections' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Waste Connections stock have on its future price. Waste Connections 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, Waste Connections autocorrelation shows the relationship between Waste Connections stock current value and its past values and can show if there is a momentum factor associated with investing in Waste Connections.
Regressed Prices |
| Timeline |
Pair Trading with Waste Connections
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 Waste Connections 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 Waste Connections will appreciate offsetting losses from the drop in the long position's value.Moving against Waste Stock
The ability to find closely correlated positions to Waste Connections could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Waste Connections 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 Waste Connections - 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 Waste Connections to buy it.
The correlation of Waste Connections 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 Waste Connections moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Waste Connections 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 Waste Connections 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 Waste Connections Correlation, Waste Connections Volatility and Waste Connections Alpha and Beta module to complement your research on Waste Connections. To learn how to invest in Waste Stock, please use our How to Invest in Waste Connections guide.You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Waste Connections 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.