Ensign (Germany) Market Value
| EGB Stock | EUR 100.00 1.50 1.52% |
| 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.
| 11/06/2023 |
| 12/06/2023 |
If you would invest 0.00 in Ensign on November 6, 2023 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 ESTIA HEALTH, PNC Financial, KeyCorp, Huntington Bancshares, and Fifth Third. 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 | 1.59 | |||
| Information Ratio | 0.1155 | |||
| Maximum Drawdown | 4.96 | |||
| Value At Risk | (2.19) | |||
| Potential Upside | 2.21 |
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 | 0.0973 | |||
| Jensen Alpha | 0.1445 | |||
| Total Risk Alpha | 0.1485 | |||
| Sortino Ratio | 0.0918 | |||
| Treynor Ratio | 0.2229 |
Sophisticated investors, who have witnessed many market ups and downs, frequently view 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. Please use the tools below to analyze the current value of Ensign in the context of predictive analytics.
Ensign Group Backtested Returns
Ensign appears to be very steady, given 3 months investment horizon. Ensign Group secures Sharpe Ratio (or Efficiency) of 0.17, which denotes the company had 0.17% of return per unit of risk over the last 3 months. Our standpoint towards predicting the volatility of a stock is to use all available market data together with stock-specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for The Ensign Group, which you can use to evaluate the future volatility of the firm. Please utilize Ensign's Risk Adjusted Performance of 0.0973, downside deviation of 1.59, and Semi Deviation of 1.24 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ensign holds a performance score of 13. The firm shows a Beta (market volatility) of 0.6366, which means possible diversification benefits within a given portfolio. As returns on the market increase, Ensign returns are expected to increase less than the market. However, during the bear market, the loss on holding Ensign will be expected to be smaller as well. Although it is important to respect Ensign Group historical returns, it is better to be realistic regarding the information on the equity's current trending patterns. Our main philosophy towards predicting future performance of any stock is to evaluate the business as a whole together with its past performance, including all available fundamental and technical indicators. By reviewing Ensign Group technical indicators, you can presently evaluate if the expected return of 0.21% will be sustainable into the future. Please utilizes Ensign Group coefficient of variation, variance, and the relationship between the downside deviation and standard deviation to make a quick decision on whether Ensign price patterns will revert.
Auto-correlation | 0.19 |
Very weak predictability
The Ensign Group has very weak predictability. Overlapping area represents the amount of predictability between Ensign time series from 6th of November 2023 to 21st of November 2023 and 21st of November 2023 to 6th of December 2023. 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 0.19 indicates that over 19.0% of current Ensign price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.19 | |
| Spearman Rank Test | 0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.87 |
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 stock 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 stock 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 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Ensign without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Efficient Frontier Now
Efficient FrontierPlot and analyze your portfolio and positions against risk-return landscape of the market. |
| All Next | Launch Module |
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
| - | 0.91 | KO2 | Korian | PairCorr | ||
| - | 0.88 | OPA | Orpea SA | PairCorr | ||
| - | 0.85 | AT2 | Atara Biotherapeutics | PairCorr | ||
| - | 0.8 | RH7 | Ryman Healthcare | PairCorr | ||
| - | 0.58 | PKX | POSCO Holdings | 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 equities. 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 CEOs Directory module to screen CEOs from public companies around the world.
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.