Goodfellow Stock Market Value
| GDL Stock | CAD 13.17 0.06 0.46% |
| Symbol | Goodfellow |
Goodfellow Price To Book Ratio
Goodfellow '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 Goodfellow'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 Goodfellow.
| 07/01/2024 |
| 12/28/2024 |
If you would invest 0.00 in Goodfellow on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding Goodfellow or generate 0.0% return on investment in Goodfellow over 180 days. Goodfellow is related to or competes with Algoma Central, Taiga Building, and High Liner. Goodfellow Inc. engages in the wholesale distribution of lumber products, building materials, and hardwood flooring prod... More
Goodfellow 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 Goodfellow'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 Goodfellow upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 11.55 | |||
| Value At Risk | (2.37) | |||
| Potential Upside | 2.5 |
Goodfellow Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodfellow's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodfellow's standard deviation. In reality, there are many statistical measures that can use Goodfellow historical prices to predict the future Goodfellow's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | (0.90) |
Goodfellow Backtested Returns
Goodfellow holds Efficiency (Sharpe) Ratio of -0.0672, which attests that the entity had a -0.0672% return per unit of risk over the last 3 months. Goodfellow exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Goodfellow's Standard Deviation of 1.91, risk adjusted performance of (0.03), and Market Risk Adjusted Performance of (0.89) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.1, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Goodfellow's returns are expected to increase less than the market. However, during the bear market, the loss of holding Goodfellow is expected to be smaller as well. At this point, Goodfellow has a negative expected return of -0.13%. Please make sure to check out Goodfellow's kurtosis, and the relationship between the maximum drawdown and rate of daily change , to decide if Goodfellow performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.5 |
Modest reverse predictability
Goodfellow has modest reverse predictability. Overlapping area represents the amount of predictability between Goodfellow time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th of December 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 Goodfellow price movement. The serial correlation of -0.5 indicates that about 50.0% of current Goodfellow price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.5 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Goodfellow lagged returns against current returns
Autocorrelation, which is Goodfellow 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 Goodfellow's stock expected returns. We can calculate the autocorrelation of Goodfellow returns to help us make a trade decision. For example, suppose you find that Goodfellow 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 |
Goodfellow 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 Goodfellow stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodfellow stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodfellow stock over time.
Current vs Lagged Prices |
| Timeline |
Goodfellow Lagged Returns
When evaluating Goodfellow's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodfellow stock have on its future price. Goodfellow 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, Goodfellow autocorrelation shows the relationship between Goodfellow stock current value and its past values and can show if there is a momentum factor associated with investing in Goodfellow.
Regressed Prices |
| Timeline |
Pair Trading with Goodfellow
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 Goodfellow 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 Goodfellow will appreciate offsetting losses from the drop in the long position's value.Moving together with Goodfellow Stock
Moving against Goodfellow Stock
| 0.79 | RY-PM | Royal Bank | PairCorr |
| 0.78 | BMO-PE | Bank of Montreal | PairCorr |
| 0.73 | RY-PS | Royal Bank | PairCorr |
| 0.72 | BMO | Bank of Montreal | PairCorr |
| 0.71 | CRM | SalesforceCom CDR | PairCorr |
The ability to find closely correlated positions to Goodfellow could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Goodfellow 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 Goodfellow - 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 Goodfellow to buy it.
The correlation of Goodfellow 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 Goodfellow moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Goodfellow 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 Goodfellow 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 Goodfellow Stock
Goodfellow financial ratios help investors to determine whether Goodfellow 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 Goodfellow with respect to the benefits of owning Goodfellow security.