Element Fleet Management Stock Market Value
| EFN Stock | CAD 29.70 0.02 0.07% |
| Symbol | Element |
Element Fleet Management Price To Book Ratio
Element Fleet '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 Element Fleet'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 Element Fleet.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Element Fleet on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Element Fleet Management or generate 0.0% return on investment in Element Fleet over 540 days. Element Fleet is related to or competes with Baylin Technologies, Supremex, IShares Canadian, PHN Multi, Global X, Altagas Cum, and EcoSynthetix. Element Fleet Management Corp. operates as a fleet management company in Canada, the United States, Mexico, Australia, a... More
Element Fleet 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 Element Fleet'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 Element Fleet Management upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.14 | |||
| Information Ratio | 0.0015 | |||
| Maximum Drawdown | 5.88 | |||
| Value At Risk | (1.52) | |||
| Potential Upside | 1.87 |
Element Fleet Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Element Fleet's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Element Fleet's standard deviation. In reality, there are many statistical measures that can use Element Fleet historical prices to predict the future Element Fleet's volatility.| Risk Adjusted Performance | 0.0868 | |||
| Jensen Alpha | 0.1055 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0016 | |||
| Treynor Ratio | 1.15 |
Element Fleet Management Backtested Returns
As of now, Element Stock is very steady. Element Fleet Management secures Sharpe Ratio (or Efficiency) of 0.0857, which denotes the company had a 0.0857% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Element Fleet Management, which you can use to evaluate the volatility of the firm. Please confirm Element Fleet's Mean Deviation of 0.7996, coefficient of variation of 919.29, and Downside Deviation of 1.14 to check if the risk estimate we provide is consistent with the expected return of 0.1%. Element Fleet has a performance score of 6 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.1, which means not very significant fluctuations relative to the market. As returns on the market increase, Element Fleet's returns are expected to increase less than the market. However, during the bear market, the loss of holding Element Fleet is expected to be smaller as well. Element Fleet Management right now shows a risk of 1.2%. Please confirm Element Fleet Management maximum drawdown, skewness, and the relationship between the total risk alpha and downside variance , to decide if Element Fleet Management will be following its price patterns.
Auto-correlation | 0.62 |
Good predictability
Element Fleet Management has good predictability. Overlapping area represents the amount of predictability between Element Fleet time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Element Fleet Management price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current Element Fleet price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 7.72 |
Element Fleet Management lagged returns against current returns
Autocorrelation, which is Element Fleet 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 Element Fleet's stock expected returns. We can calculate the autocorrelation of Element Fleet returns to help us make a trade decision. For example, suppose you find that Element Fleet 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 |
Element Fleet 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 Element Fleet stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Element Fleet stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Element Fleet stock over time.
Current vs Lagged Prices |
| Timeline |
Element Fleet Lagged Returns
When evaluating Element Fleet's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Element Fleet stock have on its future price. Element Fleet 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, Element Fleet autocorrelation shows the relationship between Element Fleet stock current value and its past values and can show if there is a momentum factor associated with investing in Element Fleet Management.
Regressed Prices |
| Timeline |
Pair Trading with Element Fleet
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 Element Fleet 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 Element Fleet will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Element Fleet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Element Fleet 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 Element Fleet - 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 Element Fleet Management to buy it.
The correlation of Element Fleet 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 Element Fleet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Element Fleet Management 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 Element Fleet 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 Element Stock
Element Fleet financial ratios help investors to determine whether Element 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 Element with respect to the benefits of owning Element Fleet security.