Obsidian Net Income Applicable To Common Shares from 2010 to 2024
| OBE Stock | CAD 7.66 0.06 0.78% |
Net Income Applicable To Common Shares | First Reported 2016-12-31 | Previous Quarter 30.5 M | Current Value 18.4 M | Quarterly Volatility 237.1 M |
Check Obsidian Energy financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Obsidian Energy's main balance sheet or income statement drivers, such as Depreciation And Amortization of 214.5 M, Interest Expense of 30.2 M or Selling General Administrative of 18.1 M, as well as many indicators such as Price To Sales Ratio of 1.83, Dividend Yield of 0.088 or PTB Ratio of 0.44. Obsidian financial statements analysis is a perfect complement when working with Obsidian Energy Valuation or Volatility modules.
Obsidian | Net Income Applicable To Common Shares |
Pair Trading with Obsidian Energy
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 Obsidian Energy 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 Obsidian Energy will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Obsidian Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Obsidian Energy 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 Obsidian Energy - 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 Obsidian Energy to buy it.
The correlation of Obsidian Energy 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 Obsidian Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Obsidian Energy 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 Obsidian Energy 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 the analysis of Obsidian Energy Correlation against competitors. To learn how to invest in Obsidian Stock, please use our How to Invest in Obsidian Energy guide.You can also try the Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.