Altagas Ltd Pref Preferred Stock Market Value
| ALA-PG Preferred Stock | CAD 22.88 0.03 0.13% |
| Symbol | Altagas |
Altagas '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 Altagas' preferred 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 Altagas.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Altagas on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Altagas Ltd Pref or generate 0.0% return on investment in Altagas over 30 days. Altagas is related to or competes with Economic Investment, Diamond Estates, Data Communications, Westshore Terminals, Partners Value, and Verizon Communications. AltaGas Ltd. operates as a diversified energy infrastructure company in North America More
Altagas 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 Altagas' preferred 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 Altagas Ltd Pref upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 2.54 | |||
| Value At Risk | (1.20) | |||
| Potential Upside | 0.8065 |
Altagas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Altagas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Altagas' standard deviation. In reality, there are many statistical measures that can use Altagas historical prices to predict the future Altagas' volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.47) |
Altagas Pref Backtested Returns
Altagas Pref secures Sharpe Ratio (or Efficiency) of -0.11, which signifies that the company had a -0.11% return per unit of risk over the last 3 months. Altagas Ltd Pref exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Altagas' Mean Deviation of 0.4941, standard deviation of 0.6963, and Risk Adjusted Performance of (0.08) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.18, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Altagas' returns are expected to increase less than the market. However, during the bear market, the loss of holding Altagas is expected to be smaller as well. At this point, Altagas Pref has a negative expected return of -0.0741%. Please make sure to confirm Altagas' value at risk, accumulation distribution, day typical price, as well as the relationship between the skewness and rate of daily change , to decide if Altagas Pref performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.35 |
Poor reverse predictability
Altagas Ltd Pref has poor reverse predictability. Overlapping area represents the amount of predictability between Altagas time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Altagas Pref price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Altagas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Altagas Pref lagged returns against current returns
Autocorrelation, which is Altagas preferred 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 Altagas' preferred stock expected returns. We can calculate the autocorrelation of Altagas returns to help us make a trade decision. For example, suppose you find that Altagas has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Altagas 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 Altagas preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Altagas preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Altagas preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Altagas Lagged Returns
When evaluating Altagas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Altagas preferred stock have on its future price. Altagas 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, Altagas autocorrelation shows the relationship between Altagas preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Altagas Ltd Pref.
Regressed Prices |
| Timeline |
Pair Trading with Altagas
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 Altagas 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 Altagas will appreciate offsetting losses from the drop in the long position's value.Moving against Altagas Preferred Stock
| 0.41 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.36 | VISA | Visa Inc CDR | PairCorr |
| 0.32 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.32 | ENS | E Split Corp | PairCorr |
The ability to find closely correlated positions to Altagas could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Altagas 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 Altagas - 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 Altagas Ltd Pref to buy it.
The correlation of Altagas 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 Altagas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Altagas Pref 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 Altagas 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 Altagas Preferred Stock
Altagas financial ratios help investors to determine whether Altagas Preferred 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 Altagas with respect to the benefits of owning Altagas security.