Companhiade Eletricidade (Brazil) Market Value
| CEEB5 Preferred Stock | BRL 36.86 1.56 4.42% |
| Symbol | Companhiade |
Companhiade Eletricidade '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 Companhiade Eletricidade's preferred 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 Companhiade Eletricidade.
| 03/25/2024 |
| 04/24/2024 |
If you would invest 0.00 in Companhiade Eletricidade on March 25, 2024 and sell it all today you would earn a total of 0.00 from holding Companhiade Eletricidade do or generate 0.0% return on investment in Companhiade Eletricidade over 30 days. Companhiade Eletricidade is related to or competes with Companhiade Eletricidade, Elektro Redes, Empresa Metropolitana, Companhia Energtica, and Companhia Energtica. Companhiade Eletricidade do Estado da Bahia - COELBA engages in the distribution of electricity in the Bahia state More
Companhiade Eletricidade 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 Companhiade Eletricidade's preferred 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 Companhiade Eletricidade do upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 7.86 | |||
| Potential Upside | 0.7654 |
Companhiade Eletricidade Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Companhiade Eletricidade's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Companhiade Eletricidade's standard deviation. In reality, there are many statistical measures that can use Companhiade Eletricidade historical prices to predict the future Companhiade Eletricidade's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | 0.5255 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Companhiade Eletricidade'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.
Companhiade Eletricidade Backtested Returns
We consider Companhiade Eletricidade very steady. Companhiade Eletricidade secures Sharpe Ratio (or Efficiency) of 0.0357, which signifies that the company had a 0.0357% return per unit of risk over the last 3 months. We have found twenty technical indicators for Companhiade Eletricidade do, which you can use to evaluate the volatility of the firm. Please confirm Companhiade Eletricidade's Standard Deviation of 1.27, risk adjusted performance of (0.02), and Mean Deviation of 0.4224 to double-check if the risk estimate we provide is consistent with the expected return of 0.0391%. Companhiade Eletricidade has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.11, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Companhiade Eletricidade are expected to decrease at a much lower rate. During the bear market, Companhiade Eletricidade is likely to outperform the market. Companhiade Eletricidade right now shows a risk of 1.1%. Please confirm Companhiade Eletricidade variance, jensen alpha, potential upside, as well as the relationship between the information ratio and total risk alpha , to decide if Companhiade Eletricidade will be following its price patterns.
Auto-correlation | -0.39 |
Poor reverse predictability
Companhiade Eletricidade do has poor reverse predictability. Overlapping area represents the amount of predictability between Companhiade Eletricidade time series from 25th of March 2024 to 9th of April 2024 and 9th of April 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 Companhiade Eletricidade price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Companhiade Eletricidade price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.6 |
Companhiade Eletricidade lagged returns against current returns
Autocorrelation, which is Companhiade Eletricidade preferred 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 Companhiade Eletricidade's preferred stock expected returns. We can calculate the autocorrelation of Companhiade Eletricidade returns to help us make a trade decision. For example, suppose you find that Companhiade Eletricidade has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Companhiade Eletricidade 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 Companhiade Eletricidade preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Companhiade Eletricidade preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Companhiade Eletricidade preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Companhiade Eletricidade Lagged Returns
When evaluating Companhiade Eletricidade's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Companhiade Eletricidade preferred stock have on its future price. Companhiade Eletricidade 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, Companhiade Eletricidade autocorrelation shows the relationship between Companhiade Eletricidade preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Companhiade Eletricidade do.
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 Companhiade Eletricidade 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, Companhiade Eletricidade's short interest history, or implied volatility extrapolated from Companhiade Eletricidade options trading.
Pair Trading with Companhiade Eletricidade
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 Companhiade Eletricidade 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 Companhiade Eletricidade will appreciate offsetting losses from the drop in the long position's value.Moving against Companhiade Preferred Stock
| 0.49 | EMAE4 | Empresa Metropolitana | PairCorr |
| 0.44 | SLBG34 | Schlumberger Limited | PairCorr |
The ability to find closely correlated positions to Companhiade Eletricidade could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Companhiade Eletricidade 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 Companhiade Eletricidade - 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 Companhiade Eletricidade do to buy it.
The correlation of Companhiade Eletricidade 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 Companhiade Eletricidade moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Companhiade Eletricidade 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 Companhiade Eletricidade 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 Companhiade Eletricidade Correlation, Companhiade Eletricidade Volatility and Companhiade Eletricidade Alpha and Beta module to complement your research on Companhiade Eletricidade. Note that the Companhiade Eletricidade information on this page should be used as a complementary analysis to other Companhiade Eletricidade'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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for Companhiade Preferred Stock analysis
When running Companhiade Eletricidade's price analysis, check to measure Companhiade Eletricidade'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 Companhiade Eletricidade is operating at the current time. Most of Companhiade Eletricidade's value examination focuses on studying past and present price action to predict the probability of Companhiade Eletricidade's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Companhiade Eletricidade's price. Additionally, you may evaluate how the addition of Companhiade Eletricidade to your portfolios can decrease your overall portfolio volatility.
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Companhiade Eletricidade technical preferred 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, preferred stock market cycles, or different charting patterns.