Fortis Pref M Preferred Stock Market Value
| FTS-PM Preferred Stock | CAD 20.70 0.06 0.29% |
| Symbol | Fortis |
Fortis 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 Fortis 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 Fortis Pref.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Fortis Pref on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Fortis Pref M or generate 0.0% return on investment in Fortis Pref over 540 days. Fortis Pref is related to or competes with Royal Canadian, Cymbria, IShares Canadian, PHN Multi, Altagas Cum, and EcoSynthetix. Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean More
Fortis 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 Fortis 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 Fortis Pref M upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.5433 | |||
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 2.46 | |||
| Value At Risk | (0.79) | |||
| Potential Upside | 1.09 |
Fortis Pref Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortis Pref's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortis Pref's standard deviation. In reality, there are many statistical measures that can use Fortis Pref historical prices to predict the future Fortis Pref's volatility.| Risk Adjusted Performance | 0.0261 | |||
| Jensen Alpha | 0.0108 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | (0.19) | |||
| Treynor Ratio | 2.07 |
Fortis Pref M Backtested Returns
At this point, Fortis Pref is very steady. Fortis Pref M secures Sharpe Ratio (or Efficiency) of 0.01, which denotes the company had a 0.01% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fortis Pref M, which you can use to evaluate the volatility of the firm. Please confirm Fortis Pref's Coefficient Of Variation of 2543.74, downside deviation of 0.5433, and Mean Deviation of 0.4094 to check if the risk estimate we provide is consistent with the expected return of 0.0052%. The firm shows a Beta (market volatility) of 0.0055, which means not very significant fluctuations relative to the market. As returns on the market increase, Fortis Pref's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortis Pref is expected to be smaller as well. Fortis Pref M right now shows a risk of 0.52%. Please confirm Fortis Pref M expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to decide if Fortis Pref M will be following its price patterns.
Auto-correlation | 0.67 |
Good predictability
Fortis Pref M has good predictability. Overlapping area represents the amount of predictability between Fortis Pref time series from 8th of June 2023 to 4th of March 2024 and 4th of March 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 Fortis Pref M price movement. The serial correlation of 0.67 indicates that around 67.0% of current Fortis Pref price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 0.6 |
Fortis Pref M lagged returns against current returns
Autocorrelation, which is Fortis 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 Fortis Pref's preferred stock expected returns. We can calculate the autocorrelation of Fortis Pref returns to help us make a trade decision. For example, suppose you find that Fortis 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 |
Fortis 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 Fortis Pref preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortis 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 Fortis Pref preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Fortis Pref Lagged Returns
When evaluating Fortis Pref's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortis Pref preferred stock have on its future price. Fortis 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, Fortis Pref autocorrelation shows the relationship between Fortis Pref preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Fortis Pref M.
Regressed Prices |
| Timeline |
Pair Trading with Fortis 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 Fortis 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 Fortis Pref will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Fortis 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 Fortis 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 Fortis 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 Fortis Pref M to buy it.
The correlation of Fortis 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 Fortis Pref moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortis Pref M 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 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.Other Information on Investing in Fortis Preferred Stock
Fortis Pref 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 Pref security.