Canacol Energy Stock Market Value
| CNE Stock | CAD 3.86 0.04 1.05% |
| Symbol | Canacol |
Canacol Energy Price To Book Ratio
Canacol Energy '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 Canacol Energy'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 Canacol Energy.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Canacol Energy on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Canacol Energy or generate 0.0% return on investment in Canacol Energy over 30 days. Canacol Energy is related to or competes with Parex Resources, Gran Tierra, Kelt Exploration, and Advantage Oil. Canacol Energy Ltd., an oil and gas company, engages in the exploration, development, and production of natural gas in C... More
Canacol Energy 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 Canacol Energy'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 Canacol Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.43 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 22.12 | |||
| Value At Risk | (3.64) | |||
| Potential Upside | 5.44 |
Canacol Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Canacol Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Canacol Energy's standard deviation. In reality, there are many statistical measures that can use Canacol Energy historical prices to predict the future Canacol Energy's volatility.| Risk Adjusted Performance | 0.0114 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.58) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0204 |
Canacol Energy Backtested Returns
As of now, Canacol Stock is unstable. Canacol Energy secures Sharpe Ratio (or Efficiency) of 0.0476, which signifies that the company had a 0.0476% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Canacol Energy, which you can use to evaluate the volatility of the firm. Please confirm Canacol Energy's Risk Adjusted Performance of 0.0114, mean deviation of 2.43, and Downside Deviation of 2.43 to double-check if the risk estimate we provide is consistent with the expected return of 0.17%. Canacol Energy has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.33, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Canacol Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Canacol Energy is expected to be smaller as well. Canacol Energy right now shows a risk of 3.5%. Please confirm Canacol Energy total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to decide if Canacol Energy will be following its price patterns.
Auto-correlation | 0.43 |
Average predictability
Canacol Energy has average predictability. Overlapping area represents the amount of predictability between Canacol Energy time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 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 Canacol Energy price movement. The serial correlation of 0.43 indicates that just about 43.0% of current Canacol Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.43 | |
| Spearman Rank Test | 0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Canacol Energy lagged returns against current returns
Autocorrelation, which is Canacol Energy 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 Canacol Energy's stock expected returns. We can calculate the autocorrelation of Canacol Energy returns to help us make a trade decision. For example, suppose you find that Canacol Energy 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 |
Canacol Energy 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 Canacol Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Canacol Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Canacol Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Canacol Energy Lagged Returns
When evaluating Canacol Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Canacol Energy stock have on its future price. Canacol Energy 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, Canacol Energy autocorrelation shows the relationship between Canacol Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Canacol Energy.
Regressed Prices |
| Timeline |
Pair Trading with Canacol 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 Canacol 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 Canacol Energy will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Canacol 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 Canacol 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 Canacol 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 Canacol Energy to buy it.
The correlation of Canacol 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 Canacol Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canacol 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 Canacol 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.Other Information on Investing in Canacol Stock
Canacol Energy financial ratios help investors to determine whether Canacol 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 Canacol with respect to the benefits of owning Canacol Energy security.