The Connecticut Light Stock Market Value
| CNLTP Stock | USD 37.00 0.45 1.20% |
| Symbol | Connecticut |
Connecticut Light '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 Connecticut Light's pink sheet 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 Connecticut Light.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Connecticut Light on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding The Connecticut Light or generate 0.0% return on investment in Connecticut Light over 360 days. Connecticut Light is related to or competes with Union Electric, and WEC Energy. The Connecticut Light and Power Company, a regulated electric utility, engages in the purchase, delivery, and sale of el... More
Connecticut Light 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 Connecticut Light's pink sheet 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 The Connecticut Light upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.36 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 4.94 | |||
| Value At Risk | (1.59) | |||
| Potential Upside | 1.48 |
Connecticut Light Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Connecticut Light's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Connecticut Light's standard deviation. In reality, there are many statistical measures that can use Connecticut Light historical prices to predict the future Connecticut Light's volatility.| Risk Adjusted Performance | 0.0187 | |||
| Jensen Alpha | 0.0494 | |||
| Total Risk Alpha | (0.16) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Connecticut Light's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Connecticut Light Backtested Returns
Currently, The Connecticut Light is very steady. Connecticut Light secures Sharpe Ratio (or Efficiency) of 0.0216, which signifies that the company had a 0.0216% return per unit of standard deviation over the last 3 months. We have found twenty-seven technical indicators for The Connecticut Light, which you can use to evaluate the volatility of the firm. Please confirm Connecticut Light's Mean Deviation of 0.5783, risk adjusted performance of 0.0187, and Semi Deviation of 0.7089 to double-check if the risk estimate we provide is consistent with the expected return of 0.0221%. Connecticut Light has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.3, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Connecticut Light are expected to decrease at a much lower rate. During the bear market, Connecticut Light is likely to outperform the market. Connecticut Light right now shows a risk of 1.03%. Please confirm Connecticut Light maximum drawdown, and the relationship between the information ratio and expected short fall , to decide if Connecticut Light will be following its price patterns.
Auto-correlation | 0.59 |
Modest predictability
The Connecticut Light has modest predictability. Overlapping area represents the amount of predictability between Connecticut Light time series from 7th of December 2023 to 4th of June 2024 and 4th of June 2024 to 1st of December 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 Connecticut Light price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current Connecticut Light price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.6 |
Connecticut Light lagged returns against current returns
Autocorrelation, which is Connecticut Light pink sheet'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 Connecticut Light's pink sheet expected returns. We can calculate the autocorrelation of Connecticut Light returns to help us make a trade decision. For example, suppose you find that Connecticut Light has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Connecticut Light 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 Connecticut Light pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Connecticut Light pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Connecticut Light pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Connecticut Light Lagged Returns
When evaluating Connecticut Light's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Connecticut Light pink sheet have on its future price. Connecticut Light 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, Connecticut Light autocorrelation shows the relationship between Connecticut Light pink sheet current value and its past values and can show if there is a momentum factor associated with investing in The Connecticut Light.
Regressed Prices |
| Timeline |
Pair Trading with Connecticut Light
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 Connecticut Light 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 Connecticut Light will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Connecticut Light could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Connecticut Light 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 Connecticut Light - 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 The Connecticut Light to buy it.
The correlation of Connecticut Light 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 Connecticut Light moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Connecticut Light 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 Connecticut Light 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.Additional Tools for Connecticut Pink Sheet Analysis
When running Connecticut Light's price analysis, check to measure Connecticut Light'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 Connecticut Light is operating at the current time. Most of Connecticut Light's value examination focuses on studying past and present price action to predict the probability of Connecticut Light's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Connecticut Light's price. Additionally, you may evaluate how the addition of Connecticut Light to your portfolios can decrease your overall portfolio volatility.