Ensign (Germany) Market Value
| EGB Stock | EUR 110.00 1.00 0.92% |
| Symbol | Ensign |
Ensign '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 Ensign'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 Ensign.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Ensign on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding The Ensign Group or generate 0.0% return on investment in Ensign over 30 days. Ensign is related to or competes with Ryman Healthcare, Korian, Sienna Senior, and Orpea SA. The Ensign Group, Inc. provides health care services in the post-acute care continuum and other ancillary businesses More
Ensign 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 Ensign'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 The Ensign Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.46 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 8.2 | |||
| Value At Risk | (1.82) | |||
| Potential Upside | 2.75 |
Ensign Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ensign's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ensign's standard deviation. In reality, there are many statistical measures that can use Ensign historical prices to predict the future Ensign's volatility.| Risk Adjusted Performance | 0.0279 | |||
| Jensen Alpha | 0.0657 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | (0.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ensign'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.
Ensign Group Backtested Returns
We consider Ensign very steady. Ensign Group secures Sharpe Ratio (or Efficiency) of 0.0554, which denotes the company had a 0.0554% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for The Ensign Group, which you can use to evaluate the volatility of the firm. Please confirm Ensign's Downside Deviation of 1.46, semi deviation of 1.12, and Risk Adjusted Performance of 0.0279 to check if the risk estimate we provide is consistent with the expected return of 0.0884%. Ensign has a performance score of 4 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.24, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Ensign are expected to decrease at a much lower rate. During the bear market, Ensign is likely to outperform the market. Ensign Group right now shows a risk of 1.6%. Please confirm Ensign Group semi deviation, coefficient of variation, jensen alpha, as well as the relationship between the downside deviation and information ratio , to decide if Ensign Group will be following its price patterns.
Auto-correlation | 0.09 |
Virtually no predictability
The Ensign Group has virtually no predictability. Overlapping area represents the amount of predictability between Ensign 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 Ensign Group price movement. The serial correlation of 0.09 indicates that less than 9.0% of current Ensign price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | -0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 1.21 |
Ensign Group lagged returns against current returns
Autocorrelation, which is Ensign 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 Ensign's stock expected returns. We can calculate the autocorrelation of Ensign returns to help us make a trade decision. For example, suppose you find that Ensign 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 |
Ensign 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 Ensign stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ensign stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ensign stock over time.
Current vs Lagged Prices |
| Timeline |
Ensign Lagged Returns
When evaluating Ensign's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ensign stock have on its future price. Ensign 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, Ensign autocorrelation shows the relationship between Ensign stock current value and its past values and can show if there is a momentum factor associated with investing in The Ensign Group.
Regressed Prices |
| Timeline |
Pair Trading with Ensign
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 Ensign 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 Ensign will appreciate offsetting losses from the drop in the long position's value.Moving against Ensign Stock
| 0.72 | KO2 | Korian | PairCorr |
| 0.66 | RH7 | Ryman Healthcare | PairCorr |
| 0.63 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.55 | N9B | BANDAI NAMCO Holdings | PairCorr |
| 0.43 | OPA | Orpea SA Split | PairCorr |
The ability to find closely correlated positions to Ensign could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ensign 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 Ensign - 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 The Ensign Group to buy it.
The correlation of Ensign 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 Ensign moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ensign Group 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 Ensign 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 Ensign Correlation, Ensign Volatility and Ensign Alpha and Beta module to complement your research on Ensign. 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 Ensign Stock analysis
When running Ensign's price analysis, check to measure Ensign'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 Ensign is operating at the current time. Most of Ensign's value examination focuses on studying past and present price action to predict the probability of Ensign's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ensign's price. Additionally, you may evaluate how the addition of Ensign to your portfolios can decrease your overall portfolio volatility.
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Ensign 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.