Enbridge Pref L Preferred Stock Market Value
| ENB-PFU Preferred Stock | USD 22.46 0.19 0.85% |
| Symbol | Enbridge |
Enbridge Pref '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 Enbridge Pref's preferred 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 Enbridge Pref.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Enbridge Pref on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Enbridge Pref L or generate 0.0% return on investment in Enbridge Pref over 180 days. Enbridge Pref is related to or competes with E Split, E Split, and Sage Potash. Enbridge Inc. operates as an energy infrastructure company in Canada and the United States More
Enbridge Pref 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 Enbridge Pref's preferred 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 Enbridge Pref L upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6035 | |||
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 3.06 | |||
| Value At Risk | (0.76) | |||
| Potential Upside | 1.06 |
Enbridge Pref Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enbridge Pref's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enbridge Pref's standard deviation. In reality, there are many statistical measures that can use Enbridge Pref historical prices to predict the future Enbridge Pref's volatility.| Risk Adjusted Performance | 0.1212 | |||
| Jensen Alpha | 0.0737 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.6498 |
Enbridge Pref L Backtested Returns
Currently, Enbridge Pref L is very steady. Enbridge Pref L secures Sharpe Ratio (or Efficiency) of 0.15, which denotes the company had a 0.15% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Enbridge Pref L, which you can use to evaluate the volatility of the firm. Please confirm Enbridge Pref's Mean Deviation of 0.5104, semi deviation of 0.4523, and Downside Deviation of 0.6035 to check if the risk estimate we provide is consistent with the expected return of 0.0952%. Enbridge Pref has a performance score of 11 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.14, which means not very significant fluctuations relative to the market. As returns on the market increase, Enbridge Pref's returns are expected to increase less than the market. However, during the bear market, the loss of holding Enbridge Pref is expected to be smaller as well. Enbridge Pref L right now shows a risk of 0.63%. Please confirm Enbridge Pref L mean deviation, standard deviation, treynor ratio, as well as the relationship between the downside deviation and total risk alpha , to decide if Enbridge Pref L will be following its price patterns.
Auto-correlation | 0.58 |
Modest predictability
Enbridge Pref L has modest predictability. Overlapping area represents the amount of predictability between Enbridge Pref time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 2024 to 2nd 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 Enbridge Pref L price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Enbridge Pref price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 0.19 |
Enbridge Pref L lagged returns against current returns
Autocorrelation, which is Enbridge Pref preferred 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 Enbridge Pref's preferred stock expected returns. We can calculate the autocorrelation of Enbridge Pref returns to help us make a trade decision. For example, suppose you find that Enbridge Pref has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Enbridge Pref 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 Enbridge Pref preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enbridge Pref preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enbridge Pref preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Enbridge Pref Lagged Returns
When evaluating Enbridge Pref's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enbridge Pref preferred stock have on its future price. Enbridge Pref 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, Enbridge Pref autocorrelation shows the relationship between Enbridge Pref preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Enbridge Pref L.
Regressed Prices |
| Timeline |
Pair Trading with Enbridge Pref
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 Enbridge Pref 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 Enbridge Pref will appreciate offsetting losses from the drop in the long position's value.Moving together with Enbridge Preferred Stock
Moving against Enbridge Preferred Stock
The ability to find closely correlated positions to Enbridge Pref could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enbridge Pref 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 Enbridge Pref - 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 Enbridge Pref L to buy it.
The correlation of Enbridge Pref 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 Enbridge Pref moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enbridge Pref L 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 Enbridge Pref 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.Additional Tools for Enbridge Preferred Stock Analysis
When running Enbridge Pref's price analysis, check to measure Enbridge Pref'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 Enbridge Pref is operating at the current time. Most of Enbridge Pref's value examination focuses on studying past and present price action to predict the probability of Enbridge Pref's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enbridge Pref's price. Additionally, you may evaluate how the addition of Enbridge Pref to your portfolios can decrease your overall portfolio volatility.