Enbridge Srs P Preferred Stock Market Value
| ENB-PP Preferred Stock | CAD 19.98 0.03 0.15% |
| Symbol | Enbridge |
Enbridge Srs '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 Srs' 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 Srs.
| 11/28/2024 |
| 12/28/2024 |
If you would invest 0.00 in Enbridge Srs on November 28, 2024 and sell it all today you would earn a total of 0.00 from holding Enbridge Srs P or generate 0.0% return on investment in Enbridge Srs over 30 days. Enbridge Srs is related to or competes with Renoworks Software, Canlan Ice, Firan Technology, Air Canada, and Sparx Technology. Enbridge Inc. operates as an energy infrastructure company in Canada and the United States More
Enbridge Srs 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 Srs' 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 Srs P upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4898 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 2.15 | |||
| Value At Risk | (0.66) | |||
| Potential Upside | 0.7549 |
Enbridge Srs Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enbridge Srs' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enbridge Srs' standard deviation. In reality, there are many statistical measures that can use Enbridge Srs historical prices to predict the future Enbridge Srs' volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.124 |
Enbridge Srs P Backtested Returns
Enbridge Srs P secures Sharpe Ratio (or Efficiency) of -0.0146, which denotes the company had a -0.0146% return per unit of standard deviation over the last 3 months. Enbridge Srs P exposes twenty-seven different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Enbridge Srs' Mean Deviation of 0.3185, downside deviation of 0.4898, and Semi Deviation of 0.4113 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0487, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Enbridge Srs are expected to decrease at a much lower rate. During the bear market, Enbridge Srs is likely to outperform the market. At this point, Enbridge Srs P has a negative expected return of -0.0062%. Please make sure to confirm Enbridge Srs' information ratio, treynor ratio, and the relationship between the downside deviation and total risk alpha , to decide if Enbridge Srs P performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
Enbridge Srs P has very weak reverse predictability. Overlapping area represents the amount of predictability between Enbridge Srs time series from 28th of November 2024 to 13th of December 2024 and 13th of December 2024 to 28th 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 Srs P price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Enbridge Srs price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Enbridge Srs P lagged returns against current returns
Autocorrelation, which is Enbridge Srs 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 Srs' preferred stock expected returns. We can calculate the autocorrelation of Enbridge Srs returns to help us make a trade decision. For example, suppose you find that Enbridge Srs 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 Srs 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 Srs preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enbridge Srs 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 Srs preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Enbridge Srs Lagged Returns
When evaluating Enbridge Srs' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enbridge Srs preferred stock have on its future price. Enbridge Srs 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 Srs autocorrelation shows the relationship between Enbridge Srs preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Enbridge Srs P.
Regressed Prices |
| Timeline |
Pair Trading with Enbridge Srs
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 Srs 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 Srs will appreciate offsetting losses from the drop in the long position's value.Moving together with Enbridge Preferred Stock
Moving against Enbridge Preferred Stock
| 0.68 | TRP | TC Energy Corp | PairCorr |
| 0.63 | BHC | Bausch Health Companies | PairCorr |
| 0.48 | ENB-PV | Enbridge Pref 1 | PairCorr |
| 0.4 | ENB | Enbridge | PairCorr |
The ability to find closely correlated positions to Enbridge Srs 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 Srs 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 Srs - 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 Srs P to buy it.
The correlation of Enbridge Srs 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 Srs moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enbridge Srs P 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 Srs 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 Enbridge Preferred Stock
Enbridge Srs financial ratios help investors to determine whether Enbridge Preferred 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 Enbridge with respect to the benefits of owning Enbridge Srs security.