Greg Sawchenko - Baytex Energy Insider
Stakeholder Greg Sawchenko is not found or was disassociated from the entity Baytex Energy Corp
If you believe Greg Sawchenko is a valid insider of Baytex Energy Corp please let us know and we will check it out.
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Pair Trading with Baytex Energy
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 Baytex Energy 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 Baytex Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Baytex Stock
| 0.82 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.76 | ENB-PFU | Enbridge Pref L | PairCorr |
The ability to find closely correlated positions to Baytex Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Baytex Energy 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 Baytex Energy - 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 Baytex Energy Corp to buy it.
The correlation of Baytex Energy 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 Baytex Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Baytex Energy Corp 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 Baytex Energy 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Baytex Energy Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Note that the Baytex Energy Corp information on this page should be used as a complementary analysis to other Baytex Energy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Complementary Tools for Baytex Stock analysis
When running Baytex Energy's price analysis, check to measure Baytex Energy'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 Baytex Energy is operating at the current time. Most of Baytex Energy's value examination focuses on studying past and present price action to predict the probability of Baytex Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Baytex Energy's price. Additionally, you may evaluate how the addition of Baytex Energy to your portfolios can decrease your overall portfolio volatility.
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