Ninepoint Energy Fund Market Value
| 0P0000732C | CAD 27.78 0.05 0.18% |
| Symbol | Ninepoint |
Ninepoint 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 Ninepoint Energy's fund 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 Ninepoint Energy.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Ninepoint Energy on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Ninepoint Energy or generate 0.0% return on investment in Ninepoint Energy over 30 days. Ninepoint Energy is related to or competes with Global Healthcare, CI Global, Mawer Canadien, and TD Index. The Fund invests primarily in equity and equity-related securities of companies that are involved directly or indirectly... More
Ninepoint 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 Ninepoint Energy's fund 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 Ninepoint Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 7.02 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 2.37 |
Ninepoint Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ninepoint Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ninepoint Energy's standard deviation. In reality, there are many statistical measures that can use Ninepoint Energy historical prices to predict the future Ninepoint Energy's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.33) | |||
| Treynor Ratio | (0.21) |
Ninepoint Energy Backtested Returns
At this point, Ninepoint Energy is very steady. Ninepoint Energy has Sharpe Ratio of 0.0169, which conveys that the entity had a 0.0169% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Ninepoint Energy, which you can use to evaluate the volatility of the fund. Please verify Ninepoint Energy's Mean Deviation of 1.31, standard deviation of 1.63, and Risk Adjusted Performance of (0.01) to check out if the risk estimate we provide is consistent with the expected return of 0.0264%. The fund secures a Beta (Market Risk) of 0.24, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Ninepoint Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ninepoint Energy is expected to be smaller as well.
Auto-correlation | 0.52 |
Modest predictability
Ninepoint Energy has modest predictability. Overlapping area represents the amount of predictability between Ninepoint Energy time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Ninepoint Energy price movement. The serial correlation of 0.52 indicates that about 52.0% of current Ninepoint Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Ninepoint Energy lagged returns against current returns
Autocorrelation, which is Ninepoint Energy fund'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 Ninepoint Energy's fund expected returns. We can calculate the autocorrelation of Ninepoint Energy returns to help us make a trade decision. For example, suppose you find that Ninepoint Energy has exhibited high autocorrelation historically, and you observe that the fund 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 |
Ninepoint 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 Ninepoint Energy fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ninepoint Energy fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ninepoint Energy fund over time.
Current vs Lagged Prices |
| Timeline |
Ninepoint Energy Lagged Returns
When evaluating Ninepoint Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ninepoint Energy fund have on its future price. Ninepoint 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, Ninepoint Energy autocorrelation shows the relationship between Ninepoint Energy fund current value and its past values and can show if there is a momentum factor associated with investing in Ninepoint Energy.
Regressed Prices |
| Timeline |
Pair Trading with Ninepoint 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 Ninepoint 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 Ninepoint Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Ninepoint Fund
| 0.7 | 0P00007065 | RBC mondial dnergie | PairCorr |
The ability to find closely correlated positions to Ninepoint 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 Ninepoint 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 Ninepoint 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 Ninepoint Energy to buy it.
The correlation of Ninepoint 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 Ninepoint Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Energy 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 Ninepoint 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 Ninepoint Fund
Ninepoint Energy financial ratios help investors to determine whether Ninepoint Fund 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 Ninepoint with respect to the benefits of owning Ninepoint Energy security.
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