Boralex Stock Market Value

BLX Stock  CAD 27.34  0.30  1.11%   
Boralex's market value is the price at which a share of Boralex trades on a public exchange. It measures the collective expectations of Boralex investors about its performance. Boralex is selling at 27.34 as of the 16th of April 2024; that is 1.11% increase since the beginning of the trading day. The stock's open price was 27.04.
With this module, you can estimate the performance of a buy and hold strategy of Boralex and determine expected loss or profit from investing in Boralex over a given investment horizon. Check out Boralex Correlation, Boralex Volatility and Boralex Alpha and Beta module to complement your research on Boralex.
Symbol

Boralex Price To Book Ratio

Please note, there is a significant difference between Boralex's value and its price as these two are different measures arrived at by different means. Investors typically determine if Boralex is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Boralex's 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.

Boralex '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 Boralex'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 Boralex.
0.00
04/27/2022
No Change 0.00  0.0 
In 1 year 11 months and 22 days
04/16/2024
0.00
If you would invest  0.00  in Boralex on April 27, 2022 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 720 days. Boralex is related to or competes with Innergex Renewable, Northland Power, Capital Power, and Brookfield Renewable. Boralex Inc., together with its subsidiaries, develops, constructs, and operates renewable energy power facilities prima... More

Boralex 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 Boralex'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 Boralex upside and downside potential and time the market with a certain degree of confidence.

Boralex Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Boralex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Boralex's standard deviation. In reality, there are many statistical measures that can use Boralex historical prices to predict the future Boralex's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Boralex's 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.
Hype
Prediction
LowEstimatedHigh
25.5727.1928.81
Details
Intrinsic
Valuation
LowRealHigh
27.0428.6630.28
Details
Earnings
Estimates (0)
LowProjected EPSHigh
0.460.510.57
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Boralex. Your research has to be compared to or analyzed against Boralex's peers to derive any actionable benefits. When done correctly, Boralex's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Boralex.

Boralex Backtested Returns

Boralex secures Sharpe Ratio (or Efficiency) of -0.12, which signifies that the company had a -0.12% return per unit of risk over the last 3 months. Boralex exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Boralex's Risk Adjusted Performance of (0.1), mean deviation of 1.3, and Standard Deviation of 1.62 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.86, which signifies possible diversification benefits within a given portfolio. Boralex returns are very sensitive to returns on the market. As the market goes up or down, Boralex is expected to follow. Boralex has an expected return of -0.2%. Please make sure to confirm Boralex potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Boralex performance from the past will be repeated at some point in the near future.

Auto-correlation

    
  0.15  

Insignificant predictability

Boralex has insignificant predictability. Overlapping area represents the amount of predictability between Boralex time series from 27th of April 2022 to 22nd of April 2023 and 22nd of April 2023 to 16th of April 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 Boralex price movement. The serial correlation of 0.15 indicates that less than 15.0% of current Boralex price fluctuation can be explain by its past prices.
Correlation Coefficient0.15
Spearman Rank Test0.23
Residual Average0.0
Price Variance12.09

Boralex lagged returns against current returns

Autocorrelation, which is Boralex 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 Boralex's stock expected returns. We can calculate the autocorrelation of Boralex returns to help us make a trade decision. For example, suppose you find that Boralex 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  

Boralex 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 Boralex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Boralex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Boralex stock over time.
   Current vs Lagged Prices   
       Timeline  

Boralex Lagged Returns

When evaluating Boralex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Boralex stock have on its future price. Boralex 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, Boralex autocorrelation shows the relationship between Boralex stock current value and its past values and can show if there is a momentum factor associated with investing in Boralex.
   Regressed Prices   
       Timeline  

Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Boralex in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Boralex's short interest history, or implied volatility extrapolated from Boralex options trading.

Pair Trading with Boralex

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 Boralex 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 Boralex will appreciate offsetting losses from the drop in the long position's value.

Moving together with Boralex Stock

  0.63UNH UnitedHealth Group CDRPairCorr

Moving against Boralex Stock

  0.9WMT Walmart Inc CDRPairCorr
  0.87AMZN Amazon CDRPairCorr
  0.86JPM JPMorgan ChasePairCorr
  0.83BRK Berkshire Hathaway CDRPairCorr
  0.62COST Costco Wholesale CorpPairCorr
The ability to find closely correlated positions to Boralex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Boralex 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 Boralex - 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 Boralex to buy it.
The correlation of Boralex 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 Boralex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Boralex 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 Boralex 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.
Pair CorrelationCorrelation Matching
Check out Boralex Correlation, Boralex Volatility and Boralex Alpha and Beta module to complement your research on Boralex.
You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.

Complementary Tools for Boralex Stock analysis

When running Boralex's price analysis, check to measure Boralex's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Boralex is operating at the current time. Most of Boralex's value examination focuses on studying past and present price action to predict the probability of Boralex's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Boralex's price. Additionally, you may evaluate how the addition of Boralex to your portfolios can decrease your overall portfolio volatility.
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Boralex 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.
A focus of Boralex technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Boralex trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...