Touchstone Exploration Stock Beta

TXP Stock  CAD 0.42  0.01  2.44%   
Touchstone Exploration fundamentals help investors to digest information that contributes to Touchstone Exploration's financial success or failures. It also enables traders to predict the movement of Touchstone Stock. The fundamental analysis module provides a way to measure Touchstone Exploration's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Touchstone Exploration stock.
  
This module does not cover all equities due to inconsistencies in global equity categorizations. Continue to Equity Screeners to view more equity screening tools.

Touchstone Exploration Company Beta Analysis

Touchstone Exploration's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.

Beta

 = 

Covariance

Variance

More About Beta | All Equity Analysis

Current Touchstone Exploration Beta

    
  0.66  
Most of Touchstone Exploration's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Touchstone Exploration is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.

Touchstone Beta Driver Correlations

Understanding the fundamental principles of building solid financial models for Touchstone Exploration is extremely important. It helps to project a fair market value of Touchstone Stock properly, considering its historical fundamentals such as Beta. Since Touchstone Exploration's main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Touchstone Exploration's historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Touchstone Exploration's interrelated accounts and indicators.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
Competition

In accordance with the recently published financial statements, Touchstone Exploration has a Beta of 0.657. This is 61.35% lower than that of the Oil, Gas & Consumable Fuels sector and 57.34% lower than that of the Energy industry. The beta for all Canada stocks is notably lower than that of the firm.

Touchstone Beta Peer Comparison

Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Touchstone Exploration's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Touchstone Exploration could also be used in its relative valuation, which is a method of valuing Touchstone Exploration by comparing valuation metrics of similar companies.
Touchstone Exploration is currently under evaluation in beta category among its peers.

Touchstone Exploration Current Valuation Drivers

We derive many important indicators used in calculating different scores of Touchstone Exploration from analyzing Touchstone Exploration's financial statements. These drivers represent accounts that assess Touchstone Exploration's ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Touchstone Exploration's important valuation drivers and their relationship over time.
202020212022202320242025 (projected)
Market Cap316.2M256.0M143.0M125.3M112.8M118.4M
Enterprise Value299.5M270.2M155.0M148.0M133.2M159.5M
As returns on the market increase, Touchstone Exploration's returns are expected to increase less than the market. However, during the bear market, the loss of holding Touchstone Exploration is expected to be smaller as well.

Touchstone Fundamentals

About Touchstone Exploration Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Touchstone Exploration's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Touchstone Exploration using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Touchstone Exploration based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.

Pair Trading with Touchstone Exploration

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 Touchstone Exploration 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 Touchstone Exploration will appreciate offsetting losses from the drop in the long position's value.

Moving against Touchstone Stock

  0.44GOOG Alphabet CDRPairCorr
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  0.31ENB-PFU Enbridge Pref LPairCorr
The ability to find closely correlated positions to Touchstone Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Touchstone Exploration 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 Touchstone Exploration - 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 Touchstone Exploration to buy it.
The correlation of Touchstone Exploration 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 Touchstone Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Touchstone Exploration 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 Touchstone Exploration 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in Touchstone Stock

Touchstone Exploration financial ratios help investors to determine whether Touchstone Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Touchstone with respect to the benefits of owning Touchstone Exploration security.