Edp Renovaveis Stock Market Value
| EDRVF Stock | USD 13.55 0.24 1.74% |
| Symbol | EDP |
EDP Renovaveis '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 EDP Renovaveis' 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 EDP Renovaveis.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in EDP Renovaveis on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding EDP Renovaveis or generate 0.0% return on investment in EDP Renovaveis over 30 days. EDP Renovaveis is related to or competes with Brookfield Renewable, Brookfield Renewable, Clearway Energy, Atlantica Sustainable, Nextera Energy, Algonquin Power, and Fusion Fuel. EDP Renovveis, S.A., a renewable energy company, plans, constructs, operates, and maintains electric power generation pl... More
EDP Renovaveis 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 EDP Renovaveis' 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 EDP Renovaveis upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 8.42 | |||
| Value At Risk | (4.19) | |||
| Potential Upside | 3.37 |
EDP Renovaveis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EDP Renovaveis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EDP Renovaveis' standard deviation. In reality, there are many statistical measures that can use EDP Renovaveis historical prices to predict the future EDP Renovaveis' volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.38) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | 4.25 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of EDP Renovaveis' 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.
EDP Renovaveis Backtested Returns
EDP Renovaveis secures Sharpe Ratio (or Efficiency) of -0.16, which denotes the company had a -0.16% return per unit of risk over the last 3 months. EDP Renovaveis exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EDP Renovaveis' Mean Deviation of 1.44, standard deviation of 2.03, and Coefficient Of Variation of (538.23) to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.091, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning EDP Renovaveis are expected to decrease at a much lower rate. During the bear market, EDP Renovaveis is likely to outperform the market. EDP Renovaveis has an expected return of -0.34%. Please make sure to confirm EDP Renovaveis jensen alpha, skewness, as well as the relationship between the Skewness and day typical price , to decide if EDP Renovaveis performance from the past will be repeated in the future.
Auto-correlation | 0.14 |
Insignificant predictability
EDP Renovaveis has insignificant predictability. Overlapping area represents the amount of predictability between EDP Renovaveis 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 EDP Renovaveis price movement. The serial correlation of 0.14 indicates that less than 14.0% of current EDP Renovaveis price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.14 | |
| Spearman Rank Test | 0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
EDP Renovaveis lagged returns against current returns
Autocorrelation, which is EDP Renovaveis 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 EDP Renovaveis' pink sheet expected returns. We can calculate the autocorrelation of EDP Renovaveis returns to help us make a trade decision. For example, suppose you find that EDP Renovaveis 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 |
EDP Renovaveis 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 EDP Renovaveis pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EDP Renovaveis pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EDP Renovaveis pink sheet over time.
Current vs Lagged Prices |
| Timeline |
EDP Renovaveis Lagged Returns
When evaluating EDP Renovaveis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EDP Renovaveis pink sheet have on its future price. EDP Renovaveis 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, EDP Renovaveis autocorrelation shows the relationship between EDP Renovaveis pink sheet current value and its past values and can show if there is a momentum factor associated with investing in EDP Renovaveis.
Regressed Prices |
| Timeline |
Pair Trading with EDP Renovaveis
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 EDP Renovaveis 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 EDP Renovaveis will appreciate offsetting losses from the drop in the long position's value.Moving together with EDP Pink Sheet
| 0.74 | OEZVF | VERBUND AG | PairCorr |
Moving against EDP Pink Sheet
| 0.87 | CEG | Constellation Energy Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.75 | MZHOF | Mizuho Financial | PairCorr |
| 0.74 | SMFG | Sumitomo Mitsui Financial Financial Report 20th of May 2024 | PairCorr |
| 0.72 | CLPXY | China Longyuan Power | PairCorr |
| 0.7 | MBFJF | Mitsubishi UFJ Financial | PairCorr |
The ability to find closely correlated positions to EDP Renovaveis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EDP Renovaveis 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 EDP Renovaveis - 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 EDP Renovaveis to buy it.
The correlation of EDP Renovaveis 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 EDP Renovaveis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EDP Renovaveis 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 EDP Renovaveis 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 EDP Renovaveis Correlation, EDP Renovaveis Volatility and EDP Renovaveis Alpha and Beta module to complement your research on EDP Renovaveis. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Complementary Tools for EDP Pink Sheet analysis
When running EDP Renovaveis' price analysis, check to measure EDP Renovaveis' 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 EDP Renovaveis is operating at the current time. Most of EDP Renovaveis' value examination focuses on studying past and present price action to predict the probability of EDP Renovaveis' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EDP Renovaveis' price. Additionally, you may evaluate how the addition of EDP Renovaveis to your portfolios can decrease your overall portfolio volatility.
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EDP Renovaveis 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.