Enerflex Stock Market Value
| EFX Stock | CAD 12.89 0.29 2.30% |
| Symbol | Enerflex |
Enerflex Price To Book Ratio
Enerflex '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 Enerflex'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 Enerflex.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Enerflex on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Enerflex or generate 0.0% return on investment in Enerflex over 30 days. Enerflex is related to or competes with Trican Well, Ensign Energy, Calfrac Well, and Birchcliff Energy. Enerflex Ltd. supplies natural gas compression, oil and gas processing, refrigeration systems, and electric power genera... More
Enerflex 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 Enerflex'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 Enerflex upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.11 | |||
| Information Ratio | 0.3115 | |||
| Maximum Drawdown | 8.16 | |||
| Value At Risk | (2.77) | |||
| Potential Upside | 5.12 |
Enerflex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enerflex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enerflex's standard deviation. In reality, there are many statistical measures that can use Enerflex historical prices to predict the future Enerflex's volatility.| Risk Adjusted Performance | 0.2817 | |||
| Jensen Alpha | 0.8056 | |||
| Total Risk Alpha | 0.5019 | |||
| Sortino Ratio | 0.3277 | |||
| Treynor Ratio | (5.72) |
Enerflex Backtested Returns
Enerflex appears to be not too volatile, given 3 months investment horizon. Enerflex secures Sharpe Ratio (or Efficiency) of 0.38, which denotes the company had a 0.38% return per unit of risk over the last 3 months. By reviewing Enerflex's technical indicators, you can evaluate if the expected return of 0.85% is justified by implied risk. Please utilize Enerflex's Mean Deviation of 1.71, coefficient of variation of 277.22, and Downside Deviation of 2.11 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Enerflex holds a performance score of 30. The firm shows a Beta (market volatility) of -0.14, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Enerflex are expected to decrease at a much lower rate. During the bear market, Enerflex is likely to outperform the market. Please check Enerflex's downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether Enerflex's price patterns will revert.
Auto-correlation | 0.90 |
Excellent predictability
Enerflex has excellent predictability. Overlapping area represents the amount of predictability between Enerflex time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Enerflex price movement. The serial correlation of 0.9 indicates that approximately 90.0% of current Enerflex price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.9 | |
| Spearman Rank Test | 0.9 | |
| Residual Average | 0.0 | |
| Price Variance | 1.19 |
Enerflex lagged returns against current returns
Autocorrelation, which is Enerflex 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 Enerflex's stock expected returns. We can calculate the autocorrelation of Enerflex returns to help us make a trade decision. For example, suppose you find that Enerflex 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 |
Enerflex 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 Enerflex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enerflex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enerflex stock over time.
Current vs Lagged Prices |
| Timeline |
Enerflex Lagged Returns
When evaluating Enerflex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enerflex stock have on its future price. Enerflex 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, Enerflex autocorrelation shows the relationship between Enerflex stock current value and its past values and can show if there is a momentum factor associated with investing in Enerflex.
Regressed Prices |
| Timeline |
Pair Trading with Enerflex
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 Enerflex 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 Enerflex will appreciate offsetting losses from the drop in the long position's value.Moving together with Enerflex Stock
The ability to find closely correlated positions to Enerflex could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enerflex 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 Enerflex - 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 Enerflex to buy it.
The correlation of Enerflex 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 Enerflex moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enerflex 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 Enerflex 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 Enerflex Correlation, Enerflex Volatility and Enerflex Alpha and Beta module to complement your research on Enerflex. To learn how to invest in Enerflex Stock, please use our How to Invest in Enerflex guide.You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Enerflex 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.