Altagas Stock Market Value
| ALA Stock | CAD 34.08 0.09 0.26% |
| Symbol | AltaGas |
AltaGas Price To Book Ratio
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' 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.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in AltaGas on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding AltaGas or generate 0.0% return on investment in AltaGas over 30 days. AltaGas is related to or competes with Canadian Natural, Suncor Energy, IShares Canadian, Altagas Cum, European Residential, Financial, and Rubicon Organics. 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' 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 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.77 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 6.8 | |||
| Value At Risk | (2.06) | |||
| Potential Upside | 1.74 |
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 | 0.0196 | |||
| Jensen Alpha | 0.0099 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | (0.06) | |||
| Treynor Ratio | 0.3293 |
AltaGas Backtested Returns
As of now, AltaGas Stock is very steady. AltaGas secures Sharpe Ratio (or Efficiency) of 5.0E-4, which signifies that the company had a 5.0E-4% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for AltaGas, which you can use to evaluate the volatility of the firm. Please confirm AltaGas' Downside Deviation of 1.77, mean deviation of 0.8353, and Risk Adjusted Performance of 0.0196 to double-check if the risk estimate we provide is consistent with the expected return of 7.0E-4%. The firm shows a Beta (market volatility) of 0.0475, 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. AltaGas right now shows a risk of 1.25%. Please confirm AltaGas expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to decide if AltaGas will be following its price patterns.
Auto-correlation | -0.56 |
Good reverse predictability
AltaGas has good reverse predictability. Overlapping area represents the amount of predictability between AltaGas time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current AltaGas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.32 |
AltaGas lagged returns against current returns
Autocorrelation, which is AltaGas 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' 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 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 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AltaGas stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AltaGas 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 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 stock current value and its past values and can show if there is a momentum factor associated with investing in AltaGas.
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.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 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 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 Stock
AltaGas financial ratios help investors to determine whether AltaGas 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.