Enbridge Pref 11 Preferred Stock Market Value
| ENB-PFC Preferred Stock | CAD 17.20 0.11 0.64% |
| Symbol | Enbridge |
Enbridge Pref '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 Enbridge Pref'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 Enbridge Pref.
| 01/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Enbridge Pref on January 20, 2024 and sell it all today you would earn a total of 0.00 from holding Enbridge Pref 11 or generate 0.0% return on investment in Enbridge Pref over 90 days. Enbridge Pref is related to or competes with E Split, E Split, and Sage Potash. Enbridge Inc. operates as an energy infrastructure company in Canada and the United States More
Enbridge Pref 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 Enbridge Pref'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 Enbridge Pref 11 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4211 | |||
| Information Ratio | 0.1482 | |||
| Maximum Drawdown | 2.28 | |||
| Value At Risk | (0.59) | |||
| Potential Upside | 0.7139 |
Enbridge Pref Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enbridge Pref's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enbridge Pref's standard deviation. In reality, there are many statistical measures that can use Enbridge Pref historical prices to predict the future Enbridge Pref's volatility.| Risk Adjusted Performance | 0.1926 | |||
| Jensen Alpha | 0.1201 | |||
| Total Risk Alpha | 0.0798 | |||
| Sortino Ratio | 0.1401 | |||
| Treynor Ratio | (2.76) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Enbridge Pref'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.
Enbridge Pref 11 Backtested Returns
We consider Enbridge Pref very steady. Enbridge Pref 11 secures Sharpe Ratio (or Efficiency) of 0.26, which denotes the company had a 0.26% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Enbridge Pref 11, which you can use to evaluate the volatility of the firm. Please confirm Enbridge Pref's Downside Deviation of 0.4211, coefficient of variation of 311.98, and Mean Deviation of 0.2853 to check if the risk estimate we provide is consistent with the expected return of 0.11%. Enbridge Pref has a performance score of 20 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.0426, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Enbridge Pref are expected to decrease at a much lower rate. During the bear market, Enbridge Pref is likely to outperform the market. Enbridge Pref 11 right now shows a risk of 0.4%. Please confirm Enbridge Pref 11 mean deviation, variance, maximum drawdown, as well as the relationship between the coefficient of variation and sortino ratio , to decide if Enbridge Pref 11 will be following its price patterns.
Auto-correlation | 0.82 |
Very good predictability
Enbridge Pref 11 has very good predictability. Overlapping area represents the amount of predictability between Enbridge Pref time series from 20th of January 2024 to 5th of March 2024 and 5th of March 2024 to 19th 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 Enbridge Pref 11 price movement. The serial correlation of 0.82 indicates that around 82.0% of current Enbridge Pref price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.89 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Enbridge Pref 11 lagged returns against current returns
Autocorrelation, which is Enbridge Pref 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 Enbridge Pref's preferred stock expected returns. We can calculate the autocorrelation of Enbridge Pref returns to help us make a trade decision. For example, suppose you find that Enbridge Pref 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 |
Enbridge Pref 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 Enbridge Pref preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enbridge Pref preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enbridge Pref preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Enbridge Pref Lagged Returns
When evaluating Enbridge Pref's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enbridge Pref preferred stock have on its future price. Enbridge Pref 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, Enbridge Pref autocorrelation shows the relationship between Enbridge Pref preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Enbridge Pref 11.
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 Enbridge Pref 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, Enbridge Pref's short interest history, or implied volatility extrapolated from Enbridge Pref options trading.
Pair Trading with Enbridge Pref
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 Enbridge Pref 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 Enbridge Pref will appreciate offsetting losses from the drop in the long position's value.Moving together with Enbridge Preferred Stock
| 0.67 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.8 | ENS-PA | E Split Corp | PairCorr |
Moving against Enbridge Preferred Stock
| 0.44 | SAGE | Sage Potash Corp | PairCorr |
The ability to find closely correlated positions to Enbridge Pref could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enbridge Pref 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 Enbridge Pref - 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 Enbridge Pref 11 to buy it.
The correlation of Enbridge Pref 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 Enbridge Pref moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enbridge Pref 11 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 Enbridge Pref 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 Enbridge Pref Correlation, Enbridge Pref Volatility and Enbridge Pref Alpha and Beta module to complement your research on Enbridge Pref. You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Enbridge Preferred Stock analysis
When running Enbridge Pref's price analysis, check to measure Enbridge Pref'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 Enbridge Pref is operating at the current time. Most of Enbridge Pref's value examination focuses on studying past and present price action to predict the probability of Enbridge Pref's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enbridge Pref's price. Additionally, you may evaluate how the addition of Enbridge Pref to your portfolios can decrease your overall portfolio volatility.
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Enbridge Pref 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.