Algonquin Power Utilities Stock Market Value
| AQNB Stock | USD 25.58 0.13 0.51% |
| Symbol | Algonquin |
Algonquin Power Utilities Price To Book Ratio
Is Electric Utilities space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Algonquin Power. If investors know Algonquin will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Algonquin Power listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Algonquin Power Utilities is measured differently than its book value, which is the value of Algonquin that is recorded on the company's balance sheet. Investors also form their own opinion of Algonquin Power's value that differs from its market value or its book value, called intrinsic value, which is Algonquin Power's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Algonquin Power's market value can be influenced by many factors that don't directly affect Algonquin Power's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Algonquin Power's value and its price as these two are different measures arrived at by different means. Investors typically determine if Algonquin Power is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Algonquin Power's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Algonquin Power '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 Algonquin Power's 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 Algonquin Power.
| 03/13/2024 |
| 06/11/2024 |
If you would invest 0.00 in Algonquin Power on March 13, 2024 and sell it all today you would earn a total of 0.00 from holding Algonquin Power Utilities or generate 0.0% return on investment in Algonquin Power over 90 days. Algonquin Power is related to or competes with SiriusPoint, Brightspire Capital, RLJ Lodging, Harrow Health, and New York. Algonquin Power is entity of United States More
Algonquin Power 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 Algonquin Power's 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 Algonquin Power Utilities upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2654 | |||
| Information Ratio | 0.1334 | |||
| Maximum Drawdown | 1.66 | |||
| Value At Risk | (0.36) | |||
| Potential Upside | 0.481 |
Algonquin Power Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Algonquin Power's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Algonquin Power's standard deviation. In reality, there are many statistical measures that can use Algonquin Power historical prices to predict the future Algonquin Power's volatility.| Risk Adjusted Performance | 0.0948 | |||
| Jensen Alpha | 0.0395 | |||
| Total Risk Alpha | 0.0389 | |||
| Sortino Ratio | 0.1443 | |||
| Treynor Ratio | (0.67) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Algonquin Power'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.
Algonquin Power Utilities Backtested Returns
We consider Algonquin Power very steady. Algonquin Power Utilities secures Sharpe Ratio (or Efficiency) of 0.18, which signifies that the company had a 0.18% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for Algonquin Power Utilities, which you can use to evaluate the volatility of the firm. Please confirm Algonquin Power's risk adjusted performance of 0.0948, and Mean Deviation of 0.2125 to double-check if the risk estimate we provide is consistent with the expected return of 0.0473%. Algonquin Power has a performance score of 13 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.0585, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Algonquin Power are expected to decrease at a much lower rate. During the bear market, Algonquin Power is likely to outperform the market. Algonquin Power Utilities right now shows a risk of 0.27%. Please confirm Algonquin Power Utilities coefficient of variation, maximum drawdown, skewness, as well as the relationship between the total risk alpha and downside variance , to decide if Algonquin Power Utilities will be following its price patterns.
Auto-correlation | -0.29 |
Weak reverse predictability
Algonquin Power Utilities has weak reverse predictability. Overlapping area represents the amount of predictability between Algonquin Power time series from 13th of March 2024 to 27th of April 2024 and 27th of April 2024 to 11th of June 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 Algonquin Power Utilities price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Algonquin Power price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Algonquin Power Utilities lagged returns against current returns
Autocorrelation, which is Algonquin Power 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 Algonquin Power's stock expected returns. We can calculate the autocorrelation of Algonquin Power returns to help us make a trade decision. For example, suppose you find that Algonquin Power has exhibited high autocorrelation historically, and you observe that the 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 |
Algonquin Power 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 Algonquin Power stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Algonquin Power stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Algonquin Power stock over time.
Current vs Lagged Prices |
| Timeline |
Algonquin Power Lagged Returns
When evaluating Algonquin Power's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Algonquin Power stock have on its future price. Algonquin Power 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, Algonquin Power autocorrelation shows the relationship between Algonquin Power stock current value and its past values and can show if there is a momentum factor associated with investing in Algonquin Power Utilities.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Algonquin Stock
When determining whether Algonquin Power Utilities is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Algonquin Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Algonquin Power Utilities Stock. Highlighted below are key reports to facilitate an investment decision about Algonquin Power Utilities Stock:Check out Algonquin Power Correlation, Algonquin Power Volatility and Algonquin Power Alpha and Beta module to complement your research on Algonquin Power. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Algonquin Power technical 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, stock market cycles, or different charting patterns.