Patten Roe from 2010 to 2024
Check Patten Energy financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Patten Energy's main balance sheet or income statement drivers, such as , as well as many indicators such as . Patten financial statements analysis is a perfect complement when working with Patten Energy Valuation or Volatility modules.
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Pair Trading with Patten 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 Patten 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 Patten Energy will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Patten 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 Patten 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 Patten 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 Patten Energy Solutions to buy it.
The correlation of Patten 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 Patten Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Patten Energy Solutions 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 Patten 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.Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices. You can also try the Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Tools for Patten Stock
When running Patten Energy's price analysis, check to measure Patten Energy's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Patten Energy is operating at the current time. Most of Patten Energy's value examination focuses on studying past and present price action to predict the probability of Patten Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Patten Energy's price. Additionally, you may evaluate how the addition of Patten Energy to your portfolios can decrease your overall portfolio volatility.
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