Projected Return Density against MarketAssuming 30 trading days horizon, EnWave has beta of 0.53 suggesting as returns on market go up, EnWave avarage returns are expected to increase less than the benchmark. However during bear market, the loss on holding EnWave Corp will be expected to be much smaller as well. Additionally, EnWave Corp has negative alpha implying that risk taken by holding this equity is not justified. The company is significantly underperforming S&P 500 Assuming 30 trading days horizon, the coefficient of variation of EnWave is -576.46. The daily returns are destributed with a variance of 6.0 and standard deviation of 2.45. The mean deviation of EnWave Corp is currently at 1.59. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.45
Actual Return VolatilityEnWave Corp shows 2.45% volatility of returns over 30 trading days. S&P 500 shows 0.45% volatility of returns over 30 trading days.
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EnWave Corp has a volatility of 2.45 and is 5.44 times more volatile than S&P 500. 26% of all equities and portfolios are less risky than EnWave. Compared with the overall equity markets, volatility of historical daily returns of EnWave Corp is lower than 26 (%) of all global equities and portfolios over the last 30 days. Use EnWave Corp to protect against small markets fluctuations. The stock experiences somewhat bearish sentiment, but market may correct it shortly. Check odds of EnWave to be traded at C$1.455 in 30 days. As returns on market increase, EnWave returns are expected to increase less than the market. However during bear market, the loss on holding EnWave will be expected to be smaller as well.
EnWave correlation with market
EnWave Current Risk Indicators
Suggested Divercification Pairs