Tourmaline Oil Corp Stock Market Value
| TOU Stock | CAD 64.42 1.04 1.59% |
| Symbol | Tourmaline |
Tourmaline Oil Corp Price To Book Ratio
Tourmaline Oil '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 Tourmaline Oil'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 Tourmaline Oil.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Tourmaline Oil on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Tourmaline Oil Corp or generate 0.0% return on investment in Tourmaline Oil over 90 days. Tourmaline Oil is related to or competes with ARC Resources, Whitecap Resources, MEG Energy, Birchcliff Energy, and Vermilion Energy. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadi... More
Tourmaline Oil 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 Tourmaline Oil'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 Tourmaline Oil Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.4 | |||
| Information Ratio | 0.1139 | |||
| Maximum Drawdown | 7.59 | |||
| Value At Risk | (2.60) | |||
| Potential Upside | 2.9 |
Tourmaline Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tourmaline Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tourmaline Oil's standard deviation. In reality, there are many statistical measures that can use Tourmaline Oil historical prices to predict the future Tourmaline Oil's volatility.| Risk Adjusted Performance | 0.048 | |||
| Jensen Alpha | 0.0831 | |||
| Total Risk Alpha | 0.2621 | |||
| Sortino Ratio | 0.1264 | |||
| Treynor Ratio | 0.4794 |
Tourmaline Oil Corp Backtested Returns
As of now, Tourmaline Stock is very steady. Tourmaline Oil Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0548, which indicates the firm had a 0.0548 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Tourmaline Oil Corp, which you can use to evaluate the volatility of the company. Please validate Tourmaline Oil's Coefficient Of Variation of 1997.68, risk adjusted performance of 0.048, and Semi Deviation of 1.33 to confirm if the risk estimate we provide is consistent with the expected return of 0.0833%. Tourmaline Oil has a performance score of 4 on a scale of 0 to 100. The entity has a beta of 0.14, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Tourmaline Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tourmaline Oil is expected to be smaller as well. Tourmaline Oil Corp right now has a risk of 1.52%. Please validate Tourmaline Oil skewness, and the relationship between the potential upside and rate of daily change , to decide if Tourmaline Oil will be following its existing price patterns.
Auto-correlation | -0.09 |
Very weak reverse predictability
Tourmaline Oil Corp has very weak reverse predictability. Overlapping area represents the amount of predictability between Tourmaline Oil time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Tourmaline Oil Corp price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Tourmaline Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | -0.78 | |
| Residual Average | 0.0 | |
| Price Variance | 3.1 |
Tourmaline Oil Corp lagged returns against current returns
Autocorrelation, which is Tourmaline Oil 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 Tourmaline Oil's stock expected returns. We can calculate the autocorrelation of Tourmaline Oil returns to help us make a trade decision. For example, suppose you find that Tourmaline Oil 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 |
Tourmaline Oil 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 Tourmaline Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tourmaline Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tourmaline Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Tourmaline Oil Lagged Returns
When evaluating Tourmaline Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tourmaline Oil stock have on its future price. Tourmaline Oil 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, Tourmaline Oil autocorrelation shows the relationship between Tourmaline Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Tourmaline Oil Corp.
Regressed Prices |
| Timeline |
Pair Trading with Tourmaline Oil
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 Tourmaline Oil 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 Tourmaline Oil will appreciate offsetting losses from the drop in the long position's value.Moving together with Tourmaline Stock
Moving against Tourmaline Stock
| 0.47 | NKE | NIKE Inc CDR Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Tourmaline Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tourmaline Oil 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 Tourmaline Oil - 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 Tourmaline Oil Corp to buy it.
The correlation of Tourmaline Oil 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 Tourmaline Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tourmaline Oil Corp 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 Tourmaline Oil 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 Tourmaline Stock
Tourmaline Oil financial ratios help investors to determine whether Tourmaline 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 Tourmaline with respect to the benefits of owning Tourmaline Oil security.