Kelt Exploration Stock Market Value
| KEL Stock | CAD 6.93 0.15 2.12% |
| Symbol | Kelt |
Kelt Exploration '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 Kelt Exploration'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 Kelt Exploration.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Kelt Exploration on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Kelt Exploration or generate 0.0% return on investment in Kelt Exploration over 30 days. Kelt Exploration is related to or competes with NuVista Energy, Advantage Oil, Birchcliff Energy, and Cardinal Energy. Kelt Exploration Ltd., an oil and gas company, engages in the exploration, development, and production of crude oil and ... More
Kelt Exploration 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 Kelt Exploration'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 Kelt Exploration upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.08 | |||
| Information Ratio | 0.0065 | |||
| Maximum Drawdown | 10.27 | |||
| Value At Risk | (3.00) | |||
| Potential Upside | 3.39 |
Kelt Exploration Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kelt Exploration's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kelt Exploration's standard deviation. In reality, there are many statistical measures that can use Kelt Exploration historical prices to predict the future Kelt Exploration's volatility.| Risk Adjusted Performance | 0.0572 | |||
| Jensen Alpha | 0.1366 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0069 | |||
| Treynor Ratio | (11.07) |
Kelt Exploration Backtested Returns
As of now, Kelt Stock is somewhat reliable. Kelt Exploration has Sharpe Ratio of 0.0661, which conveys that the firm had a 0.0661% return per unit of risk over the last 3 months. We have found thirty technical indicators for Kelt Exploration, which you can use to evaluate the volatility of the firm. Please verify Kelt Exploration's Risk Adjusted Performance of 0.0572, mean deviation of 1.71, and Downside Deviation of 2.08 to check out if the risk estimate we provide is consistent with the expected return of 0.15%. Kelt Exploration has a performance score of 5 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.0122, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kelt Exploration are expected to decrease at a much lower rate. During the bear market, Kelt Exploration is likely to outperform the market. Kelt Exploration right now secures a risk of 2.2%. Please verify Kelt Exploration sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to decide if Kelt Exploration will be following its current price movements.
Auto-correlation | -0.18 |
Insignificant reverse predictability
Kelt Exploration has insignificant reverse predictability. Overlapping area represents the amount of predictability between Kelt Exploration time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Kelt Exploration price movement. The serial correlation of -0.18 indicates that over 18.0% of current Kelt Exploration price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.18 | |
| Spearman Rank Test | -0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.07 |
Kelt Exploration lagged returns against current returns
Autocorrelation, which is Kelt Exploration 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 Kelt Exploration's stock expected returns. We can calculate the autocorrelation of Kelt Exploration returns to help us make a trade decision. For example, suppose you find that Kelt Exploration 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 |
Kelt Exploration 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 Kelt Exploration stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kelt Exploration stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kelt Exploration stock over time.
Current vs Lagged Prices |
| Timeline |
Kelt Exploration Lagged Returns
When evaluating Kelt Exploration's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kelt Exploration stock have on its future price. Kelt Exploration 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, Kelt Exploration autocorrelation shows the relationship between Kelt Exploration stock current value and its past values and can show if there is a momentum factor associated with investing in Kelt Exploration.
Regressed Prices |
| Timeline |
Pair Trading with Kelt Exploration
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 Kelt Exploration 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 Kelt Exploration will appreciate offsetting losses from the drop in the long position's value.Moving together with Kelt Stock
Moving against Kelt Stock
The ability to find closely correlated positions to Kelt Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kelt Exploration 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 Kelt Exploration - 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 Kelt Exploration to buy it.
The correlation of Kelt Exploration 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 Kelt Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kelt Exploration 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 Kelt Exploration 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 Kelt Stock
Kelt Exploration financial ratios help investors to determine whether Kelt 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 Kelt with respect to the benefits of owning Kelt Exploration security.