Boralex Stock Market Value
BRLXF Stock | USD 19.75 0.00 0.00% |
Symbol | Boralex |
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 pink sheet 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.
03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Boralex on March 26, 2024 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 Kontrol Technologies, HUMANA, Barloworld, Morningstar Unconstrained, High Yield, and Thrivent High. Boralex Inc., together with its subsidiaries, engages in the development, construction, and operation of renewable energ... 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 pink sheet 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.
Information Ratio | (0.19) | |||
Maximum Drawdown | 9.7 | |||
Value At Risk | (3.76) | |||
Potential Upside | 1.48 |
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.Risk Adjusted Performance | (0.08) | |||
Jensen Alpha | (0.32) | |||
Total Risk Alpha | (0.48) | |||
Treynor Ratio | (0.26) |
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.
Boralex Backtested Returns
Boralex secures Sharpe Ratio (or Efficiency) of -0.18, which signifies that the company had a -0.18% return per unit of risk over the last 3 months. Boralex exposes nineteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Boralex's Standard Deviation of 1.73, risk adjusted performance of (0.08), and Mean Deviation of 1.04 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.93, 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 -0.31%. Please make sure to confirm Boralex information ratio, skewness, as well as the relationship between the Skewness and relative strength index , to decide if Boralex performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.10 |
Insignificant predictability
Boralex has insignificant predictability. Overlapping area represents the amount of predictability between Boralex time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 0.1 indicates that less than 10.0% of current Boralex price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.1 | |
Spearman Rank Test | -0.41 | |
Residual Average | 0.0 | |
Price Variance | 0.07 |
Boralex lagged returns against current returns
Autocorrelation, which is Boralex pink sheet'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 pink sheet 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 pink sheet 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 pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Boralex pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Boralex pink sheet 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 pink sheet 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 pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Boralex.
Regressed Prices |
Timeline |
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 against Boralex Pink Sheet
0.81 | MZHOF | Mizuho Financial | PairCorr |
0.79 | PH | Parker Hannifin Earnings Call This Week | PairCorr |
0.75 | HAS | Hasbro Inc Upward Rally | PairCorr |
0.71 | JPSTF | JAPAN POST BANK | PairCorr |
0.69 | JPHLF | Japan Post Holdings | PairCorr |
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.Check out Boralex Correlation, Boralex Volatility and Boralex Alpha and Beta module to complement your research on Boralex. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Complementary Tools for Boralex Pink Sheet 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 pink sheet 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, pink sheet market cycles, or different charting patterns.