Energy Income Etf Market Value

ENI-UN Etf  CAD 1.71  0.04  2.29%   
Energy Income's market value is the price at which a share of Energy Income trades on a public exchange. It measures the collective expectations of Energy Income investors about its performance. Energy Income is trading at 1.71 as of the 24th of November 2024, a 2.29 percent decrease since the beginning of the trading day. The etf's open price was 1.75.
With this module, you can estimate the performance of a buy and hold strategy of Energy Income and determine expected loss or profit from investing in Energy Income over a given investment horizon. Check out Energy Income Correlation, Energy Income Volatility and Energy Income Alpha and Beta module to complement your research on Energy Income.
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Please note, there is a significant difference between Energy Income's value and its price as these two are different measures arrived at by different means. Investors typically determine if Energy Income is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Energy Income'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.

Energy Income '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 Energy Income's etf 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 Energy Income.
0.00
10/25/2024
No Change 0.00  0.0 
In 31 days
11/24/2024
0.00
If you would invest  0.00  in Energy Income on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Energy Income or generate 0.0% return on investment in Energy Income over 30 days. Energy Income is related to or competes with MINT Income, Prime Dividend, Canadian High, Precious Metals, and Blue Ribbon. Energy Income Fund is a close ended equity mutual fund launched by Artemis Investment Management Limited More

Energy Income 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 Energy Income's etf 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 Energy Income upside and downside potential and time the market with a certain degree of confidence.

Energy Income Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Energy Income's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Energy Income's standard deviation. In reality, there are many statistical measures that can use Energy Income historical prices to predict the future Energy Income's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Energy Income'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.
Hype
Prediction
LowEstimatedHigh
0.091.713.66
Details
Intrinsic
Valuation
LowRealHigh
0.081.563.51
Details
Naive
Forecast
LowNextHigh
0.031.713.65
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
1.691.721.76
Details

Energy Income Backtested Returns

At this point, Energy Income is risky. Energy Income secures Sharpe Ratio (or Efficiency) of 0.0631, which denotes the etf had a 0.0631% return per unit of risk over the last 3 months. We have found thirty technical indicators for Energy Income, which you can use to evaluate the volatility of the entity. Please confirm Energy Income's Coefficient Of Variation of 1944.82, mean deviation of 1.07, and Downside Deviation of 3.67 to check if the risk estimate we provide is consistent with the expected return of 0.12%. The etf shows a Beta (market volatility) of -0.17, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Energy Income are expected to decrease at a much lower rate. During the bear market, Energy Income is likely to outperform the market.

Auto-correlation

    
  -0.1  

Very weak reverse predictability

Energy Income has very weak reverse predictability. Overlapping area represents the amount of predictability between Energy Income time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Energy Income price movement. The serial correlation of -0.1 indicates that less than 10.0% of current Energy Income price fluctuation can be explain by its past prices.
Correlation Coefficient-0.1
Spearman Rank Test0.24
Residual Average0.0
Price Variance0.0

Energy Income lagged returns against current returns

Autocorrelation, which is Energy Income etf'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 Energy Income's etf expected returns. We can calculate the autocorrelation of Energy Income returns to help us make a trade decision. For example, suppose you find that Energy Income has exhibited high autocorrelation historically, and you observe that the etf 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  

Energy Income 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 Energy Income etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Energy Income etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Energy Income etf over time.
   Current vs Lagged Prices   
       Timeline  

Energy Income Lagged Returns

When evaluating Energy Income's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Energy Income etf have on its future price. Energy Income 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, Energy Income autocorrelation shows the relationship between Energy Income etf current value and its past values and can show if there is a momentum factor associated with investing in Energy Income.
   Regressed Prices   
       Timeline  

Pair Trading with Energy Income

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 Energy Income 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 Energy Income will appreciate offsetting losses from the drop in the long position's value.

Moving together with Energy Etf

  0.72BNC Purpose Canadian FinPairCorr
  0.79FTN Financial 15 SplitPairCorr
The ability to find closely correlated positions to Energy Income could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Energy Income 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 Energy Income - 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 Energy Income to buy it.
The correlation of Energy Income 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 Energy Income moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Energy Income 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 Energy Income 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in Energy Etf

Energy Income financial ratios help investors to determine whether Energy Etf 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 Energy with respect to the benefits of owning Energy Income security.