Fortis 1st Cum Preferred Stock Market Value
| FTS-PF Preferred Stock | CAD 21.21 0.21 1.00% |
| Symbol | Fortis |
Fortis 1St '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 Fortis 1St'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 Fortis 1St.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Fortis 1St on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Fortis 1St Cum or generate 0.0% return on investment in Fortis 1St over 180 days. Fortis 1St is related to or competes with Fortis Pref, Hydro One, Caribbean Utilities, and Synex International. Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean More
Fortis 1St 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 Fortis 1St'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 Fortis 1St Cum upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 2.58 | |||
| Value At Risk | (0.93) | |||
| Potential Upside | 0.8384 |
Fortis 1St Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortis 1St's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortis 1St's standard deviation. In reality, there are many statistical measures that can use Fortis 1St historical prices to predict the future Fortis 1St's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | 1.04 |
Fortis 1St Cum Backtested Returns
Fortis 1St Cum secures Sharpe Ratio (or Efficiency) of -0.0412, which denotes the company had a -0.0412% return per unit of risk over the last 3 months. Fortis 1St Cum exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fortis 1St's Standard Deviation of 0.5854, mean deviation of 0.4579, and Variance of 0.3427 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.021, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fortis 1St are expected to decrease at a much lower rate. During the bear market, Fortis 1St is likely to outperform the market. At this point, Fortis 1St Cum has a negative expected return of -0.0239%. Please make sure to confirm Fortis 1St's accumulation distribution, and the relationship between the potential upside and day median price , to decide if Fortis 1St Cum performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Fortis 1St Cum has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Fortis 1St time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 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 Fortis 1St Cum price movement. The serial correlation of -0.77 indicates that around 77.0% of current Fortis 1St price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
Fortis 1St Cum lagged returns against current returns
Autocorrelation, which is Fortis 1St 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 Fortis 1St's preferred stock expected returns. We can calculate the autocorrelation of Fortis 1St returns to help us make a trade decision. For example, suppose you find that Fortis 1St 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 |
Fortis 1St 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 Fortis 1St preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortis 1St preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortis 1St preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Fortis 1St Lagged Returns
When evaluating Fortis 1St's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortis 1St preferred stock have on its future price. Fortis 1St 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, Fortis 1St autocorrelation shows the relationship between Fortis 1St preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Fortis 1St Cum.
Regressed Prices |
| Timeline |
Pair Trading with Fortis 1St
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 Fortis 1St 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 Fortis 1St will appreciate offsetting losses from the drop in the long position's value.Moving together with Fortis Preferred Stock
Moving against Fortis Preferred Stock
The ability to find closely correlated positions to Fortis 1St could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortis 1St 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 Fortis 1St - 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 Fortis 1St Cum to buy it.
The correlation of Fortis 1St 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 Fortis 1St moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortis 1St Cum 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 Fortis 1St 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 Fortis Preferred Stock
Fortis 1St financial ratios help investors to determine whether Fortis 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 Fortis with respect to the benefits of owning Fortis 1St security.