E L Financial Corp Stock Market Value
| ELF Stock | CAD 1,475 25.00 1.67% |
| Symbol | ELF |
E L Financial Price To Book Ratio
E L '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 E L'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 E L.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in E L on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding E L Financial Corp or generate 0.0% return on investment in E L over 90 days. E L is related to or competes with Algoma Central, Winpak, Fairfax Financial, Economic Investment, and IA Financial. E-L Financial Corporation Limited operates as an investment and insurance holding company in Canada More
E L 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 E L'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 E L Financial Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.47 | |||
| Information Ratio | 0.0412 | |||
| Maximum Drawdown | 8.81 | |||
| Value At Risk | (1.67) | |||
| Potential Upside | 3.2 |
E L Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for E L's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as E L's standard deviation. In reality, there are many statistical measures that can use E L historical prices to predict the future E L's volatility.| Risk Adjusted Performance | 0.1037 | |||
| Jensen Alpha | 0.1625 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.041 | |||
| Treynor Ratio | 1.31 |
E L Financial Backtested Returns
As of now, ELF Stock is very steady. E L Financial secures Sharpe Ratio (or Efficiency) of 0.0996, which denotes the company had a 0.0996% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for E L Financial Corp, which you can use to evaluate the volatility of the entity. Please confirm E L's Downside Deviation of 1.47, semi deviation of 0.4646, and Mean Deviation of 0.6389 to check if the risk estimate we provide is consistent with the expected return of 0.14%. E L has a performance score of 7 on a scale of 0 to 100. 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, E L's returns are expected to increase less than the market. However, during the bear market, the loss of holding E L is expected to be smaller as well. E L Financial today shows a risk of 1.44%. Please confirm E L Financial potential upside, daily balance of power, and the relationship between the treynor ratio and expected short fall , to decide if E L Financial will be following its price patterns.
Auto-correlation | -0.38 |
Poor reverse predictability
E L Financial Corp has poor reverse predictability. Overlapping area represents the amount of predictability between E L time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th 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 E L Financial price movement. The serial correlation of -0.38 indicates that just about 38.0% of current E L price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 7368.31 |
E L Financial lagged returns against current returns
Autocorrelation, which is E L 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 E L's stock expected returns. We can calculate the autocorrelation of E L returns to help us make a trade decision. For example, suppose you find that E L 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 |
E L 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 E L stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if E L stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in E L stock over time.
Current vs Lagged Prices |
| Timeline |
E L Lagged Returns
When evaluating E L's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of E L stock have on its future price. E L 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, E L autocorrelation shows the relationship between E L stock current value and its past values and can show if there is a momentum factor associated with investing in E L Financial Corp.
Regressed Prices |
| Timeline |
Pair Trading with E L
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 E L 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 E L will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to E L could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace E L 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 E L - 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 E L Financial Corp to buy it.
The correlation of E L 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 E L moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if E L Financial 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 E L 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 ELF Stock
E L financial ratios help investors to determine whether ELF 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 ELF with respect to the benefits of owning E L security.