Enerflex Total Assets from 2010 to 2026
| EFX Stock | CAD 25.83 1.18 4.79% |
Check Enerflex financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Enerflex's main balance sheet or income statement drivers, such as , as well as many indicators such as . Enerflex financial statements analysis is a perfect complement when working with Enerflex Valuation or Volatility modules.
Enerflex |
Pair Trading with Enerflex
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 Enerflex 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 Enerflex will appreciate offsetting losses from the drop in the long position's value.Moving against Enerflex Stock
| 0.56 | MSFT | Microsoft CDR | PairCorr |
| 0.56 | MSFT | Microsoft Corp CDR | PairCorr |
| 0.52 | ENS-PA | E Split Corp | PairCorr |
| 0.47 | SAGE | Sage Potash Corp | PairCorr |
| 0.4 | BRK | Berkshire Hathaway CDR | PairCorr |
The ability to find closely correlated positions to Enerflex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enerflex 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 Enerflex - 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 Enerflex to buy it.
The correlation of Enerflex 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 Enerflex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enerflex 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 Enerflex 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 the analysis of Enerflex Correlation against competitors. To learn how to invest in Enerflex Stock, please use our How to Invest in Enerflex guide.You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.