Boralex Backtesting

BLX -- Canada Stock  

CAD 19.22  0.27  1.39%

With this equity back-testing module your can estimate the performance of a buy and hold strategy of Boralex and determine expected loss or profit from investing in Boralex over given investment horizon. Check also Boralex Hype Analysis, Boralex Correlation, Boralex Valuation, Boralex Volatility as well as analyze Boralex Alpha and Beta and Boralex Performance.
Horizon     30 Days    Login   to change

Boralex 'What if' Analysis

August 21, 2018
No Change 0.00  0.0%
In 31 days
September 20, 2018
If you would invest  0.00  in Boralex on August 21, 2018 and sell it all today you would earn a total of 0.00 from holding Boralex or generate 0.0% return on investment in Boralex over 30 days. Boralex is related to or competes with Brookfield Renewable, Algonquin Power, TransAlta Renewables, TransAlta, Innergex Renewable, First Asset, and Front Street. Boralex Inc., together with its subsidiaries, develops, constructs, and operates renewable energy power facilities prima...

Boralex Upside/Downside Indicators

Downside Deviation0.7413
Information Ratio0.0131
Maximum Drawdown4.38
Value At Risk1.13
Potential Upside2.13

Boralex Market Premium Indicators

Risk Adjusted Performance0.0483
Jensen Alpha0.1027
Total Risk Alpha0.15
Sortino Ratio0.0194
Treynor Ratio2.47

Boralex Backtested Returns

We consider Boralex not too volatile. Boralex secures Sharpe Ratio (or Efficiency) of 0.0661 which signifies that Boralex had 0.0661% of return per unit of risk over the last 1 month. Our philosophy towards foreseeing volatility of a stock is to use all available market data together with stock specific technical indicators that cannot be diversified away. We have found twenty-eight technical indicators for Boralex which you can use to evaluate future volatility of the firm. Please confirm Boralex Downside Deviation of 0.7413, Risk Adjusted Performance of 0.0483 and Mean Deviation of 0.795 to double-check if risk estimate we provide are consistent with the epected return of 0.0753%. Boralex has performance score of 4 on a scale of 0 to 100. The firm shows Beta (market volatility) of 0.0432 which signifies that as returns on market increase, Boralex returns are expected to increase less than the market. However during bear market, the loss on holding Boralex will be expected to be smaller as well.. Although it is extremely important to respect Boralex historical returns, it is better to be realistic regarding the information on equity current trending patterns. The philosophy towards foreseeing future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By analyzing Boralex technical indicators you can presently evaluate if the expected return of 0.0753% will be sustainable into the future. Boralex right now shows a risk of 1.1386%. Please confirm Boralex Downside Variance, and the relationship between Treynor Ratio and Kurtosis to decide if Boralex will be following its price patterns.
Advice Volatility Trend Exposure Correlations
15 days auto-correlation(0.03) 

Very weak reverse predictability

Boralex has very weak reverse predictability. Overlapping area represents the amount of predictability between Boralex time series from August 21, 2018 to September 5, 2018 and September 5, 2018 to September 20, 2018. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Boralex price movement. The serial correlation of -0.03 indicates that only 3.0% of current Boralex price fluctuation can be explain by its past prices. Given that Boralex has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Boralex for similar time interval.
Correlation Coefficient-0.03
Spearman Rank Test0.2
Residual Average0.0
Price Variance0.06

Boralex lagged returns against current returns

 Current and Lagged Values 

Boralex regressed lagged prices vs. current prices

 Current vs Lagged Prices 

Boralex Lagged Returns

 Regressed Prices 

Current Sentiment - BLX

Boralex Investor Sentiment

Most of Macroaxis users are currently bullish on Boralex. What is your opinion about investing in Boralex? Are you bullish or bearish?
98% Bullish
2% Bearish

Boralex Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Boralex and Brookfield Renewable. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
Run Pair Correlation  
Check also Boralex Hype Analysis, Boralex Correlation, Boralex Valuation, Boralex Volatility as well as analyze Boralex Alpha and Beta and Boralex Performance. Please also try Equity Analysis module to research over 250,000 global equities including funds, stocks and etfs to find investment opportunities.