Birchcliff Energy Stock Market Value
| BIR Stock | CAD 5.42 0.10 1.81% |
| Symbol | Birchcliff |
Birchcliff Energy Price To Book Ratio
Birchcliff 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 Birchcliff Energy's 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 Birchcliff Energy.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Birchcliff Energy on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Birchcliff Energy or generate 0.0% return on investment in Birchcliff Energy over 510 days. Birchcliff Energy is related to or competes with InPlay Oil, Yangarra Resources, IShares Canadian, Altagas Cum, European Residential, RBC Discount, and IShares SPTSX. Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, c... More
Birchcliff 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 Birchcliff Energy's 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 Birchcliff Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 8.9 | |||
| Value At Risk | (3.70) | |||
| Potential Upside | 3.04 |
Birchcliff Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Birchcliff Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Birchcliff Energy's standard deviation. In reality, there are many statistical measures that can use Birchcliff Energy historical prices to predict the future Birchcliff Energy's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | 2.28 |
Birchcliff Energy Backtested Returns
Birchcliff Energy secures Sharpe Ratio (or Efficiency) of -0.0484, which signifies that the company had a -0.0484% return per unit of risk over the last 3 months. Birchcliff Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Birchcliff Energy's Risk Adjusted Performance of (0.05), mean deviation of 1.51, and Standard Deviation of 2.04 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0685, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Birchcliff Energy are expected to decrease at a much lower rate. During the bear market, Birchcliff Energy is likely to outperform the market. At this point, Birchcliff Energy has a negative expected return of -0.0995%. Please make sure to confirm Birchcliff Energy's potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Birchcliff Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.26 |
Poor predictability
Birchcliff Energy has poor predictability. Overlapping area represents the amount of predictability between Birchcliff Energy time series from 5th of July 2023 to 16th of March 2024 and 16th of March 2024 to 26th 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 Birchcliff Energy price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Birchcliff Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Birchcliff Energy lagged returns against current returns
Autocorrelation, which is Birchcliff Energy 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 Birchcliff Energy's stock expected returns. We can calculate the autocorrelation of Birchcliff Energy returns to help us make a trade decision. For example, suppose you find that Birchcliff Energy 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 |
Birchcliff 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 Birchcliff Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Birchcliff Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Birchcliff Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Birchcliff Energy Lagged Returns
When evaluating Birchcliff Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Birchcliff Energy stock have on its future price. Birchcliff 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, Birchcliff Energy autocorrelation shows the relationship between Birchcliff Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Birchcliff Energy.
Regressed Prices |
| Timeline |
Pair Trading with Birchcliff 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 Birchcliff 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 Birchcliff Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Birchcliff Stock
| 0.75 | FFH | Fairfax Financial | PairCorr |
| 0.73 | ENS | E Split Corp | PairCorr |
| 0.67 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.65 | FFH-PC | Fairfax Fin Hld | PairCorr |
| 0.61 | ENS-PA | E Split Corp | PairCorr |
The ability to find closely correlated positions to Birchcliff 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 Birchcliff 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 Birchcliff 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 Birchcliff Energy to buy it.
The correlation of Birchcliff 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 Birchcliff Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Birchcliff 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 Birchcliff 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 Birchcliff Stock
Birchcliff Energy financial ratios help investors to determine whether Birchcliff 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 Birchcliff with respect to the benefits of owning Birchcliff Energy security.