Emera Inc Preferred Stock Market Value
| EMA-PH Preferred Stock | CAD 23.89 0.39 1.66% |
| Symbol | Emera |
Emera '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 Emera's preferred 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 Emera.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Emera on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Emera Inc or generate 0.0% return on investment in Emera over 90 days. Emera is related to or competes with Emera Pref, Emera Srs, Fortis Pref, Brookfield Renewable, and Brookfield Renewable. Emera Incorporated, an energy and services company, through its subsidiaries, engages in the generation, transmission, a... More
Emera 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 Emera's preferred 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 Emera Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8316 | |||
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 3.17 | |||
| Value At Risk | (1.07) | |||
| Potential Upside | 1.2 |
Emera Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Emera's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Emera's standard deviation. In reality, there are many statistical measures that can use Emera historical prices to predict the future Emera's volatility.| Risk Adjusted Performance | 0.046 | |||
| Jensen Alpha | 0.022 | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.1) | |||
| Treynor Ratio | 0.3106 |
Emera Inc Backtested Returns
At this point, Emera is very steady. Emera Inc secures Sharpe Ratio (or Efficiency) of 0.0642, which denotes the company had a 0.0642% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Emera Inc, which you can use to evaluate the volatility of the firm. Please confirm Emera's Downside Deviation of 0.8316, mean deviation of 0.5184, and Coefficient Of Variation of 1558.34 to check if the risk estimate we provide is consistent with the expected return of 0.0448%. Emera has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.11, which means not very significant fluctuations relative to the market. As returns on the market increase, Emera's returns are expected to increase less than the market. However, during the bear market, the loss of holding Emera is expected to be smaller as well. Emera Inc right now shows a risk of 0.7%. Please confirm Emera Inc total risk alpha, value at risk, and the relationship between the standard deviation and treynor ratio , to decide if Emera Inc will be following its price patterns.
Auto-correlation | 0.05 |
Virtually no predictability
Emera Inc has virtually no predictability. Overlapping area represents the amount of predictability between Emera time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th of December 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 Emera Inc price movement. The serial correlation of 0.05 indicates that only as little as 5.0% of current Emera price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.05 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Emera Inc lagged returns against current returns
Autocorrelation, which is Emera preferred 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 Emera's preferred stock expected returns. We can calculate the autocorrelation of Emera returns to help us make a trade decision. For example, suppose you find that Emera has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Emera 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 Emera preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Emera preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Emera preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Emera Lagged Returns
When evaluating Emera's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Emera preferred stock have on its future price. Emera 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, Emera autocorrelation shows the relationship between Emera preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Emera Inc.
Regressed Prices |
| Timeline |
Pair Trading with Emera
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 Emera 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 Emera will appreciate offsetting losses from the drop in the long position's value.Moving against Emera Preferred Stock
The ability to find closely correlated positions to Emera could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Emera 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 Emera - 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 Emera Inc to buy it.
The correlation of Emera 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 Emera moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Emera Inc 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 Emera 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 Emera Preferred Stock
Emera financial ratios help investors to determine whether Emera Preferred 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 Emera with respect to the benefits of owning Emera security.