Devon Energy Stock Market Value
| DVN Stock | USD 39.45 0.75 1.94% |
| Symbol | Devon |
Devon Energy Price To Book Ratio
Is Oil & Gas Exploration & Production space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Devon Energy. If investors know Devon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Devon Energy listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.09) | Dividend Share 2 | Earnings Share 5.4 | Revenue Per Share 23.117 | Quarterly Revenue Growth (0.10) |
The market value of Devon Energy is measured differently than its book value, which is the value of Devon that is recorded on the company's balance sheet. Investors also form their own opinion of Devon Energy's value that differs from its market value or its book value, called intrinsic value, which is Devon Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Devon Energy's market value can be influenced by many factors that don't directly affect Devon Energy's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Devon Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Devon Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Devon Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
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.
| 12/06/2022 |
| 11/25/2024 |
If you would invest 0.00 in Devon Energy on December 6, 2022 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 720 days. Devon Energy is related to or competes with Coterra Energy, Diamondback Energy, EOG Resources, ConocoPhillips, EQT, Marathon Oil, and Permian Resources. 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 | (0.15) | |||
| Maximum Drawdown | 7.21 | |||
| Value At Risk | (2.95) | |||
| Potential Upside | 2.17 |
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 | (0.05) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | (0.18) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Devon Energy'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.
Devon Energy Backtested Returns
Devon Energy secures Sharpe Ratio (or Efficiency) of -0.0975, which denotes the company had a -0.0975% 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 1.68, mean deviation of 1.29, and Variance of 2.82 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.74, which means possible diversification benefits within a given portfolio. As returns on the market increase, Devon Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Devon Energy is expected to be smaller as well. At this point, Devon Energy has a negative expected return of -0.16%. Please make sure to confirm Devon Energy's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Devon Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.05 |
Very weak reverse predictability
Devon Energy has very weak reverse predictability. Overlapping area represents the amount of predictability between Devon Energy time series from 6th of December 2022 to 1st of December 2023 and 1st of December 2023 to 25th 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 -0.05 indicates that only as little as 5.0% of current Devon Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 14.47 |
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 |
Pair Trading with Devon 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 Devon 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 Devon Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Devon Stock
Moving against Devon Stock
| 0.55 | LB | LandBridge Company Upward Rally | PairCorr |
| 0.53 | CNX | CNX Resources Corp Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.53 | EQT | EQT Corporation | PairCorr |
| 0.51 | EXE | Expand Energy Symbol Change | PairCorr |
| 0.43 | DMLP | Dorchester Minerals | PairCorr |
The ability to find closely correlated positions to Devon 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 Devon 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 Devon 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 Devon Energy to buy it.
The correlation of Devon 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 Devon Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Devon 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 Devon 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.Check out Devon Energy Correlation, Devon Energy Volatility and Devon Energy Alpha and Beta module to complement your research on Devon Energy. To learn how to invest in Devon Stock, please use our How to Invest in Devon Energy guide.You can also try the Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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.