Innergex Renewable Energy Preferred Stock Market Value
| INE-PA Preferred Stock | CAD 15.65 0.05 0.32% |
| Symbol | Innergex |
Innergex Renewable '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 Innergex Renewable'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 Innergex Renewable.
| 12/24/2024 |
| 01/23/2025 |
If you would invest 0.00 in Innergex Renewable on December 24, 2024 and sell it all today you would earn a total of 0.00 from holding Innergex Renewable Energy or generate 0.0% return on investment in Innergex Renewable over 30 days. Innergex Renewable is related to or competes with Renoworks Software, Sparx Technology, NorthWest Healthcare, Richelieu Hardware, and Andlauer Healthcare. Innergex Renewable Energy Inc. operates as an independent renewable power producer More
Innergex Renewable 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 Innergex Renewable'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 Innergex Renewable Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8187 | |||
| Information Ratio | 0.1009 | |||
| Maximum Drawdown | 3.85 | |||
| Value At Risk | (1.18) | |||
| Potential Upside | 1.09 |
Innergex Renewable Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Innergex Renewable's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Innergex Renewable's standard deviation. In reality, there are many statistical measures that can use Innergex Renewable historical prices to predict the future Innergex Renewable's volatility.| Risk Adjusted Performance | 0.1214 | |||
| Jensen Alpha | 0.1054 | |||
| Total Risk Alpha | 0.0828 | |||
| Sortino Ratio | 0.0999 | |||
| Treynor Ratio | 1.6 |
Innergex Renewable Energy Backtested Returns
At this point, Innergex Renewable is very steady. Innergex Renewable Energy holds Efficiency (Sharpe) Ratio of 0.14, which attests that the entity had a 0.14 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Innergex Renewable Energy, which you can use to evaluate the volatility of the firm. Please check out Innergex Renewable's Downside Deviation of 0.8187, market risk adjusted performance of 1.61, and Risk Adjusted Performance of 0.1214 to validate if the risk estimate we provide is consistent with the expected return of 0.12%. Innergex Renewable has a performance score of 11 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0668, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Innergex Renewable's returns are expected to increase less than the market. However, during the bear market, the loss of holding Innergex Renewable is expected to be smaller as well. Innergex Renewable Energy right now retains a risk of 0.81%. Please check out Innergex Renewable downside variance, rate of daily change, and the relationship between the maximum drawdown and skewness , to decide if Innergex Renewable will be following its current trending patterns.
Auto-correlation | 0.67 |
Good predictability
Innergex Renewable Energy has good predictability. Overlapping area represents the amount of predictability between Innergex Renewable time series from 24th of December 2024 to 8th of January 2025 and 8th of January 2025 to 23rd of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Innergex Renewable Energy price movement. The serial correlation of 0.67 indicates that around 67.0% of current Innergex Renewable price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Innergex Renewable Energy lagged returns against current returns
Autocorrelation, which is Innergex Renewable 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 Innergex Renewable's preferred stock expected returns. We can calculate the autocorrelation of Innergex Renewable returns to help us make a trade decision. For example, suppose you find that Innergex Renewable 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 |
Innergex Renewable 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 Innergex Renewable preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Innergex Renewable preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Innergex Renewable preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Innergex Renewable Lagged Returns
When evaluating Innergex Renewable's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Innergex Renewable preferred stock have on its future price. Innergex Renewable 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, Innergex Renewable autocorrelation shows the relationship between Innergex Renewable preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Innergex Renewable Energy.
Regressed Prices |
| Timeline |
Pair Trading with Innergex Renewable
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 Innergex Renewable 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 Innergex Renewable will appreciate offsetting losses from the drop in the long position's value.Moving together with Innergex Preferred Stock
| 0.89 | BEP-PM | Brookfield Renewable | PairCorr |
| 0.75 | TA | TransAlta Corp | PairCorr |
| 0.74 | CSE-PA | Capstone Infrastructure | PairCorr |
| 0.89 | TA-PD | Transalta A Cum | PairCorr |
The ability to find closely correlated positions to Innergex Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innergex Renewable 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 Innergex Renewable - 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 Innergex Renewable Energy to buy it.
The correlation of Innergex Renewable 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 Innergex Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innergex Renewable Energy 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 Innergex Renewable 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 Innergex Preferred Stock
Innergex Renewable financial ratios help investors to determine whether Innergex 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 Innergex with respect to the benefits of owning Innergex Renewable security.