Brookfield Renewable Partners Stock Market Value
| BEP-UN Stock | CAD 36.37 0.76 2.05% |
| Symbol | Brookfield |
Brookfield Renewable Price To Book Ratio
Brookfield Renewable '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 Brookfield Renewable'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 Brookfield Renewable.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Brookfield Renewable on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Brookfield Renewable Partners or generate 0.0% return on investment in Brookfield Renewable over 30 days. Brookfield Renewable is related to or competes with Brookfield Infrastructure, Algonquin Power, Northland Power, and Fortis. Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America,... More
Brookfield Renewable 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 Brookfield Renewable'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 Brookfield Renewable Partners upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.86 | |||
| Information Ratio | 0.0217 | |||
| Maximum Drawdown | 14.66 | |||
| Value At Risk | (2.72) | |||
| Potential Upside | 3.33 |
Brookfield Renewable Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Brookfield Renewable's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Brookfield Renewable's standard deviation. In reality, there are many statistical measures that can use Brookfield Renewable historical prices to predict the future Brookfield Renewable's volatility.| Risk Adjusted Performance | 0.0726 | |||
| Jensen Alpha | 0.2317 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.0248 | |||
| Treynor Ratio | (0.38) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Brookfield Renewable'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.
Brookfield Renewable Backtested Returns
Brookfield Renewable appears to be very steady, given 3 months investment horizon. Brookfield Renewable secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Brookfield Renewable Partners, which you can use to evaluate the volatility of the firm. Please makes use of Brookfield Renewable's Downside Deviation of 1.86, mean deviation of 1.51, and Risk Adjusted Performance of 0.0726 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Brookfield Renewable holds a performance score of 8. The firm shows a Beta (market volatility) of -0.45, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Brookfield Renewable are expected to decrease at a much lower rate. During the bear market, Brookfield Renewable is likely to outperform the market. Please check Brookfield Renewable's sortino ratio, skewness, period momentum indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Brookfield Renewable's price patterns will revert.
Auto-correlation | -0.45 |
Modest reverse predictability
Brookfield Renewable Partners has modest reverse predictability. Overlapping area represents the amount of predictability between Brookfield Renewable time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th of November 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 Brookfield Renewable price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Brookfield Renewable price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.48 |
Brookfield Renewable lagged returns against current returns
Autocorrelation, which is Brookfield Renewable 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 Brookfield Renewable's stock expected returns. We can calculate the autocorrelation of Brookfield Renewable returns to help us make a trade decision. For example, suppose you find that Brookfield Renewable 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 |
Brookfield Renewable 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 Brookfield Renewable stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Brookfield Renewable stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Brookfield Renewable stock over time.
Current vs Lagged Prices |
| Timeline |
Brookfield Renewable Lagged Returns
When evaluating Brookfield Renewable's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Brookfield Renewable stock have on its future price. Brookfield Renewable 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, Brookfield Renewable autocorrelation shows the relationship between Brookfield Renewable stock current value and its past values and can show if there is a momentum factor associated with investing in Brookfield Renewable Partners.
Regressed Prices |
| Timeline |
Pair Trading with Brookfield Renewable
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 Brookfield Renewable 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 Brookfield Renewable will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Brookfield Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Brookfield Renewable 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 Brookfield Renewable - 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 Brookfield Renewable Partners to buy it.
The correlation of Brookfield Renewable 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 Brookfield Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Brookfield Renewable 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 Brookfield Renewable 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 Brookfield Renewable Correlation, Brookfield Renewable Volatility and Brookfield Renewable Alpha and Beta module to complement your research on Brookfield Renewable. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Brookfield Renewable 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.