Enova International Stock Market Value
| ENVA Stock | USD 63.54 0.78 1.21% |
| Symbol | Enova |
Enova International Price To Book Ratio
Is Enova International's industry 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 Enova International. If investors know Enova 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 Enova International 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 0.051 | Earnings Share 5.49 | Revenue Per Share 35.897 | Quarterly Revenue Growth 0.155 | Return On Assets 0.0407 |
The market value of Enova International is measured differently than its book value, which is the value of Enova that is recorded on the company's balance sheet. Investors also form their own opinion of Enova International's value that differs from its market value or its book value, called intrinsic value, which is Enova International's 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 Enova International's market value can be influenced by many factors that don't directly affect Enova International's 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 Enova International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Enova International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Enova International'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.
Enova International '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 Enova International'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 Enova International.
| 10/27/2023 |
| 04/24/2024 |
If you would invest 0.00 in Enova International on October 27, 2023 and sell it all today you would earn a total of 0.00 from holding Enova International or generate 0.0% return on investment in Enova International over 180 days. Enova International is related to or competes with Regional Management, Encore Capital, Customers Bancorp, and Employers Holdings. Enova International, Inc., a technology and analytics company, provides online financial services in the United States, ... More
Enova International 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 Enova International'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 Enova International upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.11 | |||
| Information Ratio | 0.0737 | |||
| Maximum Drawdown | 9.5 | |||
| Value At Risk | (3.13) | |||
| Potential Upside | 2.95 |
Enova International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enova International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enova International's standard deviation. In reality, there are many statistical measures that can use Enova International historical prices to predict the future Enova International's volatility.| Risk Adjusted Performance | 0.0836 | |||
| Jensen Alpha | 0.0486 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0673 | |||
| Treynor Ratio | 0.1085 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Enova International'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.
Enova International Backtested Returns
Enova International appears to be very steady, given 3 months investment horizon. Enova International secures Sharpe Ratio (or Efficiency) of 0.1, which denotes the company had a 0.1% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Enova International, which you can use to evaluate the volatility of the firm. Please utilize Enova International's Downside Deviation of 2.11, coefficient of variation of 811.64, and Mean Deviation of 1.39 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Enova International holds a performance score of 7. The firm shows a Beta (market volatility) of 2.09, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Enova International will likely underperform. Please check Enova International's sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Enova International's price patterns will revert.
Auto-correlation | 0.49 |
Average predictability
Enova International has average predictability. Overlapping area represents the amount of predictability between Enova International time series from 27th of October 2023 to 25th of January 2024 and 25th of January 2024 to 24th 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 Enova International price movement. The serial correlation of 0.49 indicates that about 49.0% of current Enova International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 7.65 |
Enova International lagged returns against current returns
Autocorrelation, which is Enova International 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 Enova International's stock expected returns. We can calculate the autocorrelation of Enova International returns to help us make a trade decision. For example, suppose you find that Enova International 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 |
Enova International 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 Enova International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enova International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enova International stock over time.
Current vs Lagged Prices |
| Timeline |
Enova International Lagged Returns
When evaluating Enova International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enova International stock have on its future price. Enova International 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, Enova International autocorrelation shows the relationship between Enova International stock current value and its past values and can show if there is a momentum factor associated with investing in Enova International.
Regressed Prices |
| Timeline |
Enova International Investors Sentiment
The influence of Enova International's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Enova. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Enova International's public news can be used to forecast risks associated with an investment in Enova. The trend in average sentiment can be used to explain how an investor holding Enova can time the market purely based on public headlines and social activities around Enova International. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Enova International's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Enova International's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Enova International's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Enova International.
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 Enova International 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, Enova International's short interest history, or implied volatility extrapolated from Enova International options trading.
Pair Trading with Enova International
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 Enova International 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 Enova International will appreciate offsetting losses from the drop in the long position's value.Moving together with Enova Stock
| 0.8 | CG | Carlyle Group Earnings Call This Week | PairCorr |
Moving against Enova Stock
| 0.71 | AJX | Great Ajax Corp | PairCorr |
| 0.55 | EFC | Ellington Financial LLC Financial Report 13th of May 2024 | PairCorr |
The ability to find closely correlated positions to Enova International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enova International 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 Enova International - 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 Enova International to buy it.
The correlation of Enova International 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 Enova International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enova International 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 Enova International 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 Enova International Correlation, Enova International Volatility and Enova International Alpha and Beta module to complement your research on Enova International. For information on how to trade Enova Stock refer to our How to Trade Enova Stock guide.You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Complementary Tools for Enova Stock analysis
When running Enova International's price analysis, check to measure Enova International'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 Enova International is operating at the current time. Most of Enova International's value examination focuses on studying past and present price action to predict the probability of Enova International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enova International's price. Additionally, you may evaluate how the addition of Enova International to your portfolios can decrease your overall portfolio volatility.
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Enova International 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.