Ensign Energy Services Stock Market Value
| ESI Stock | CAD 2.95 0.04 1.37% |
| Symbol | Ensign |
Ensign Energy Services Price To Book Ratio
Ensign 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 Ensign 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 Ensign Energy.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Ensign Energy on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Ensign Energy Services or generate 0.0% return on investment in Ensign Energy over 30 days. Ensign Energy is related to or competes with Precision Drilling, Trican Well, Calfrac Well, NuVista Energy, and Secure Energy. Ensign Energy Services Inc., together with its subsidiaries, provides oilfield services to the oil and natural gas indus... More
Ensign 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 Ensign 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 Ensign Energy Services upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.15 | |||
| Information Ratio | 0.0743 | |||
| Maximum Drawdown | 11.72 | |||
| Value At Risk | (3.17) | |||
| Potential Upside | 4.12 |
Ensign Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ensign Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ensign Energy's standard deviation. In reality, there are many statistical measures that can use Ensign Energy historical prices to predict the future Ensign Energy's volatility.| Risk Adjusted Performance | 0.1038 | |||
| Jensen Alpha | 0.2375 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.083 | |||
| Treynor Ratio | 0.6028 |
Ensign Energy Services Backtested Returns
Ensign Energy appears to be relatively risky, given 3 months investment horizon. Ensign Energy Services secures Sharpe Ratio (or Efficiency) of 0.14, which denotes the company had a 0.14% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Ensign Energy Services, which you can use to evaluate the volatility of the firm. Please utilize Ensign Energy's Mean Deviation of 1.88, coefficient of variation of 790.04, and Downside Deviation of 2.15 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ensign Energy holds a performance score of 10. The firm shows a Beta (market volatility) of 0.49, which means possible diversification benefits within a given portfolio. As returns on the market increase, Ensign Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ensign Energy is expected to be smaller as well. Please check Ensign Energy's semi variance, and the relationship between the maximum drawdown and accumulation distribution , to make a quick decision on whether Ensign Energy's price patterns will revert.
Auto-correlation | 0.10 |
Insignificant predictability
Ensign Energy Services has insignificant predictability. Overlapping area represents the amount of predictability between Ensign Energy 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 Ensign Energy Services price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Ensign Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Ensign Energy Services lagged returns against current returns
Autocorrelation, which is Ensign 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 Ensign Energy's stock expected returns. We can calculate the autocorrelation of Ensign Energy returns to help us make a trade decision. For example, suppose you find that Ensign 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 |
Ensign 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 Ensign Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ensign Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ensign Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Ensign Energy Lagged Returns
When evaluating Ensign Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ensign Energy stock have on its future price. Ensign 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, Ensign Energy autocorrelation shows the relationship between Ensign Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Ensign Energy Services.
Regressed Prices |
| Timeline |
Pair Trading with Ensign 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 Ensign 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 Ensign Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Ensign Stock
Moving against Ensign Stock
The ability to find closely correlated positions to Ensign 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 Ensign 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 Ensign 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 Ensign Energy Services to buy it.
The correlation of Ensign 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 Ensign Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ensign Energy Services 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 Ensign 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 Ensign Stock
Ensign Energy financial ratios help investors to determine whether Ensign 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 Ensign with respect to the benefits of owning Ensign Energy security.