Fortis Inc Stock Market Value
| FTS Stock | CAD 62.90 0.23 0.36% |
| Symbol | Fortis |
Fortis Inc Price To Book Ratio
Fortis '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 Fortis' 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 Fortis.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Fortis on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Fortis Inc or generate 0.0% return on investment in Fortis over 510 days. Fortis is related to or competes with Telus Corp, Enbridge, Algonquin Power, BCE, and TC Energy. Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries More
Fortis 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 Fortis' 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 Fortis Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7486 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 3.91 | |||
| Value At Risk | (1.19) | |||
| Potential Upside | 1.13 |
Fortis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortis' standard deviation. In reality, there are many statistical measures that can use Fortis historical prices to predict the future Fortis' volatility.| Risk Adjusted Performance | 0.0984 | |||
| Jensen Alpha | 0.1024 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | (1.58) |
Fortis Inc Backtested Returns
As of now, Fortis Stock is very steady. Fortis Inc secures Sharpe Ratio (or Efficiency) of 0.14, which denotes the company had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Fortis Inc, which you can use to evaluate the volatility of the firm. Please confirm Fortis' Downside Deviation of 0.7486, mean deviation of 0.5859, and Coefficient Of Variation of 782.04 to check if the risk estimate we provide is consistent with the expected return of 0.12%. Fortis has a performance score of 11 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.0604, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fortis are expected to decrease at a much lower rate. During the bear market, Fortis is likely to outperform the market. Fortis Inc right now shows a risk of 0.84%. Please confirm Fortis Inc semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if Fortis Inc will be following its price patterns.
Auto-correlation | 0.05 |
Virtually no predictability
Fortis Inc has virtually no predictability. Overlapping area represents the amount of predictability between Fortis time series from 5th of July 2023 to 16th of March 2024 and 16th of March 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 Fortis Inc price movement. The serial correlation of 0.05 indicates that only as little as 5.0% of current Fortis price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.05 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 14.82 |
Fortis Inc lagged returns against current returns
Autocorrelation, which is Fortis 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 Fortis' stock expected returns. We can calculate the autocorrelation of Fortis returns to help us make a trade decision. For example, suppose you find that Fortis 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 |
Fortis 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 Fortis stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortis stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortis stock over time.
Current vs Lagged Prices |
| Timeline |
Fortis Lagged Returns
When evaluating Fortis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortis stock have on its future price. Fortis 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, Fortis autocorrelation shows the relationship between Fortis stock current value and its past values and can show if there is a momentum factor associated with investing in Fortis Inc.
Regressed Prices |
| Timeline |
Pair Trading with Fortis
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 Fortis 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 Fortis will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Fortis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fortis 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 Fortis - 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 Fortis Inc to buy it.
The correlation of Fortis 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 Fortis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortis 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 Fortis 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 Fortis Correlation, Fortis Volatility and Fortis Alpha and Beta module to complement your research on Fortis. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Fortis 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.