Imperial Oil Stock Market Value
| IMO Stock | CAD 103.69 0.17 0.16% |
| Symbol | Imperial |
Imperial Oil Price To Book Ratio
Imperial Oil '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 Imperial Oil'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 Imperial Oil.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Imperial Oil on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Imperial Oil or generate 0.0% return on investment in Imperial Oil over 30 days. Imperial Oil is related to or competes with Canadian Natural, Cenovus Energy, TC Energy, Suncor Energy, and Canadian Pacific. Imperial Oil Limited explores for, produces, and sells crude oil and natural gas in Canada More
Imperial Oil 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 Imperial Oil'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 Imperial Oil upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.89 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 9.51 | |||
| Value At Risk | (2.47) | |||
| Potential Upside | 3.04 |
Imperial Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Imperial Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Imperial Oil's standard deviation. In reality, there are many statistical measures that can use Imperial Oil historical prices to predict the future Imperial Oil's volatility.| Risk Adjusted Performance | 0.0267 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.1041 |
Imperial Oil Backtested Returns
As of now, Imperial Stock is very steady. Imperial Oil holds Efficiency (Sharpe) Ratio of 0.0564, which attests that the entity had a 0.0564% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Imperial Oil, which you can use to evaluate the volatility of the firm. Please check out Imperial Oil's Market Risk Adjusted Performance of 0.1141, downside deviation of 1.89, and Risk Adjusted Performance of 0.0267 to validate if the risk estimate we provide is consistent with the expected return of 0.0991%. Imperial Oil has a performance score of 4 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.37, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Imperial Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Imperial Oil is expected to be smaller as well. Imperial Oil right now retains a risk of 1.76%. Please check out Imperial Oil treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to decide if Imperial Oil will be following its current trending patterns.
Auto-correlation | -0.38 |
Poor reverse predictability
Imperial Oil has poor reverse predictability. Overlapping area represents the amount of predictability between Imperial Oil time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Imperial Oil price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Imperial Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 2.99 |
Imperial Oil lagged returns against current returns
Autocorrelation, which is Imperial Oil 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 Imperial Oil's stock expected returns. We can calculate the autocorrelation of Imperial Oil returns to help us make a trade decision. For example, suppose you find that Imperial Oil 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 |
Imperial Oil 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 Imperial Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Imperial Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Imperial Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Imperial Oil Lagged Returns
When evaluating Imperial Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Imperial Oil stock have on its future price. Imperial Oil 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, Imperial Oil autocorrelation shows the relationship between Imperial Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Imperial Oil.
Regressed Prices |
| Timeline |
Pair Trading with Imperial Oil
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 Imperial Oil 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 Imperial Oil will appreciate offsetting losses from the drop in the long position's value.Moving together with Imperial Stock
| 0.71 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.66 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.66 | ENS | E Split Corp | PairCorr |
Moving against Imperial Stock
| 0.72 | TC | Tucows Inc | PairCorr |
| 0.67 | DII-B | Dorel Industries | PairCorr |
| 0.63 | AIM | Aimia Inc | PairCorr |
| 0.57 | SLF-PH | Sun Lif Non | PairCorr |
| 0.53 | SAGE | Sage Potash Corp | PairCorr |
The ability to find closely correlated positions to Imperial Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Imperial Oil 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 Imperial Oil - 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 Imperial Oil to buy it.
The correlation of Imperial Oil 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 Imperial Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Imperial Oil 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 Imperial Oil 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 Imperial Oil Correlation, Imperial Oil Volatility and Imperial Oil Alpha and Beta module to complement your research on Imperial Oil. To learn how to invest in Imperial Stock, please use our How to Invest in Imperial Oil guide.You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Imperial Oil 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.