Devon Energy (Brazil) Market Value
| D1VN34 Stock | BRL 229.77 2.99 1.32% |
| Symbol | Devon |
Devon 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 Devon 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 Devon Energy.
| 11/30/2023 |
| 11/24/2024 |
If you would invest 0.00 in Devon Energy on November 30, 2023 and sell it all today you would earn a total of 0.00 from holding Devon Energy or generate 0.0% return on investment in Devon Energy over 360 days. Devon Energy is related to or competes with Healthpeak Properties, NXP Semiconductors, New Oriental, Unity Software, and Zoom Video. Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and producti... More
Devon 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 Devon 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 Devon Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 7.88 | |||
| Value At Risk | (2.65) | |||
| Potential Upside | 2.75 |
Devon Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Devon Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Devon Energy's standard deviation. In reality, there are many statistical measures that can use Devon Energy historical prices to predict the future Devon Energy's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | 0.7329 |
Devon Energy Backtested Returns
Devon Energy secures Sharpe Ratio (or Efficiency) of -0.0675, which denotes the company had a -0.0675% return per unit of risk over the last 3 months. Devon Energy exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Devon Energy's Standard Deviation of 1.74, variance of 3.03, and Mean Deviation of 1.19 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.13, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Devon Energy are expected to decrease at a much lower rate. During the bear market, Devon Energy is likely to outperform the market. At this point, Devon Energy has a negative expected return of -0.12%. Please make sure to confirm Devon Energy's value at risk, skewness, accumulation distribution, as well as the relationship between the potential upside and kurtosis , to decide if Devon Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.83 |
Excellent reverse predictability
Devon Energy has excellent reverse predictability. Overlapping area represents the amount of predictability between Devon Energy time series from 30th of November 2023 to 28th of May 2024 and 28th of May 2024 to 24th 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 Devon Energy price movement. The serial correlation of -0.83 indicates that around 83.0% of current Devon Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 240.2 |
Devon Energy lagged returns against current returns
Autocorrelation, which is Devon 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 Devon Energy's stock expected returns. We can calculate the autocorrelation of Devon Energy returns to help us make a trade decision. For example, suppose you find that Devon 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 |
Devon 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 Devon Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Devon Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Devon Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Devon Energy Lagged Returns
When evaluating Devon Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Devon Energy stock have on its future price. Devon 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, Devon Energy autocorrelation shows the relationship between Devon Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Devon Energy.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Information and Resources on Investing in Devon Stock
When determining whether Devon Energy offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Devon Energy's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Devon Energy Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Devon Energy Stock:Check out Devon Energy Correlation, Devon Energy Volatility and Devon Energy Alpha and Beta module to complement your research on Devon Energy. For information on how to trade Devon Stock refer to our How to Trade Devon Stock guide.You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Devon Energy technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.