Fennec Pharmaceuticals Earnings Estimate
Fennec Pharmaceuticals Earnings per Share Projection vs Actual
About Fennec Pharmaceuticals Earnings Estimate
The earnings estimate module is a useful tool to check what professional financial analysts are assuming about the future of Fennec Pharmaceuticals earnings. We show available consensus EPS estimates for the upcoming years and quarters. Investors can also examine how these consensus opinions have evolved historically. We show current Fennec Pharmaceuticals estimates, future projections, as well as estimates 1, 2, and three years ago. Investors can search for a specific entity to conduct investment planning and build diversified portfolios. Please note, earnings estimates provided by Macroaxis are the average expectations of expert analysts that we track. If a given stock such as Fennec Pharmaceuticals fails to match professional earnings estimates, it usually performs purely. Wall Street refers to that as a 'negative surprise.' If a company 'beats' future estimates, it's usually called an 'upside surprise.'
Please read more on our stock advisor page.Fennec Pharmaceuticals Inc., a biopharmaceutical company, develops product candidates for use in the treatment of cancer in the United States. Fennec Pharmaceuticals Inc. was founded in 1996 and is based in Research Triangle Park, North Carolina. FENNEC PHARMACEUTICALS operates under Biotechnology classification in Canada and is traded on Toronto Stock Exchange. It employs 3 people.
Pair Trading with Fennec Pharmaceuticals
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 Fennec Pharmaceuticals 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 Fennec Pharmaceuticals will appreciate offsetting losses from the drop in the long position's value.Moving against Fennec Stock
| 0.69 | GOOG | Alphabet CDR | PairCorr |
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The ability to find closely correlated positions to Fennec Pharmaceuticals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fennec Pharmaceuticals 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 Fennec Pharmaceuticals - 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 Fennec Pharmaceuticals to buy it.
The correlation of Fennec Pharmaceuticals 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 Fennec Pharmaceuticals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fennec Pharmaceuticals 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 Fennec Pharmaceuticals 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.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fennec Pharmaceuticals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment. To learn how to invest in Fennec Stock, please use our How to Invest in Fennec Pharmaceuticals guide.You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.