Topaz Energy Corp Stock Market Value
| TPZ Stock | CAD 23.36 0.27 1.17% |
| Symbol | Topaz |
Topaz Energy Corp Price To Book Ratio
Topaz 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 Topaz 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 Topaz Energy.
| 12/15/2024 |
| 03/15/2025 |
If you would invest 0.00 in Topaz Energy on December 15, 2024 and sell it all today you would earn a total of 0.00 from holding Topaz Energy Corp or generate 0.0% return on investment in Topaz Energy over 90 days. Topaz Energy is related to or competes with Headwater Exploration, Tamarack Valley, Freehold Royalties, Tourmaline Oil, and Parex Resources. Topaz Energy Corp. operates as a royalty and energy infrastructure company More
Topaz 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 Topaz 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 Topaz Energy Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 7.01 | |||
| Value At Risk | (2.27) | |||
| Potential Upside | 1.49 |
Topaz Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Topaz Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Topaz Energy's standard deviation. In reality, there are many statistical measures that can use Topaz Energy historical prices to predict the future Topaz Energy's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | (0.62) |
Topaz Energy Corp Backtested Returns
Topaz Energy Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.14, which indicates the firm had a -0.14 % return per unit of risk over the last 3 months. Topaz Energy Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Topaz Energy's Variance of 1.72, risk adjusted performance of (0.12), and Coefficient Of Variation of (686.18) to confirm the risk estimate we provide. The entity has a beta of 0.32, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Topaz Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Topaz Energy is expected to be smaller as well. At this point, Topaz Energy Corp has a negative expected return of -0.18%. Please make sure to validate Topaz Energy's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Topaz Energy Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.45 |
Average predictability
Topaz Energy Corp has average predictability. Overlapping area represents the amount of predictability between Topaz Energy time series from 15th of December 2024 to 29th of January 2025 and 29th of January 2025 to 15th 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 Topaz Energy Corp price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Topaz Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.66 |
Topaz Energy Corp lagged returns against current returns
Autocorrelation, which is Topaz 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 Topaz Energy's stock expected returns. We can calculate the autocorrelation of Topaz Energy returns to help us make a trade decision. For example, suppose you find that Topaz 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 |
Topaz 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 Topaz Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Topaz Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Topaz Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Topaz Energy Lagged Returns
When evaluating Topaz Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Topaz Energy stock have on its future price. Topaz 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, Topaz Energy autocorrelation shows the relationship between Topaz Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Topaz Energy Corp.
Regressed Prices |
| Timeline |
Pair Trading with Topaz 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 Topaz 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 Topaz Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Topaz Stock
| 0.83 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.77 | VZ | Verizon Communications | PairCorr |
| 0.74 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.73 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.41 | NTR | Nutrien | PairCorr |
The ability to find closely correlated positions to Topaz 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 Topaz 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 Topaz 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 Topaz Energy Corp to buy it.
The correlation of Topaz 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 Topaz Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Topaz Energy 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 Topaz 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 Topaz Stock
Topaz Energy financial ratios help investors to determine whether Topaz 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 Topaz with respect to the benefits of owning Topaz Energy security.