Kenon Holdings Stock Market Value
| KEN Stock | USD 28.47 0.21 0.74% |
| Symbol | Kenon |
Kenon Holdings Price To Book Ratio
Is Independent Power and Renewable Electricity Producers space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Kenon Holdings. If investors know Kenon will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Kenon Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.348 | Earnings Share (1.44) | Revenue Per Share 13.743 | Quarterly Revenue Growth 0.097 | Return On Assets 0.0088 |
The market value of Kenon Holdings is measured differently than its book value, which is the value of Kenon that is recorded on the company's balance sheet. Investors also form their own opinion of Kenon Holdings' value that differs from its market value or its book value, called intrinsic value, which is Kenon Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Kenon Holdings' market value can be influenced by many factors that don't directly affect Kenon Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Kenon Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if Kenon Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Kenon Holdings' 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.
Kenon Holdings '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 Kenon Holdings' 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 Kenon Holdings.
| 10/29/2023 |
| 11/22/2024 |
If you would invest 0.00 in Kenon Holdings on October 29, 2023 and sell it all today you would earn a total of 0.00 from holding Kenon Holdings or generate 0.0% return on investment in Kenon Holdings over 390 days. Kenon Holdings is related to or competes with Vistra Energy, Pampa Energia, NRG Energy, TransAlta Corp, and AGL Energy. Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilit... More
Kenon Holdings 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 Kenon Holdings' 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 Kenon Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.92 | |||
| Information Ratio | 0.0552 | |||
| Maximum Drawdown | 8.45 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 2.93 |
Kenon Holdings Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kenon Holdings' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kenon Holdings' standard deviation. In reality, there are many statistical measures that can use Kenon Holdings historical prices to predict the future Kenon Holdings' volatility.| Risk Adjusted Performance | 0.0955 | |||
| Jensen Alpha | 0.1327 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | 0.0502 | |||
| Treynor Ratio | 0.3088 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Kenon Holdings' 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.
Kenon Holdings Backtested Returns
Kenon Holdings appears to be very steady, given 3 months investment horizon. Kenon Holdings has Sharpe Ratio of 0.13, which conveys that the firm had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Kenon Holdings, which you can use to evaluate the volatility of the firm. Please exercise Kenon Holdings' Risk Adjusted Performance of 0.0955, downside deviation of 1.92, and Mean Deviation of 1.34 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kenon Holdings holds a performance score of 10. The company secures a Beta (Market Risk) of 0.63, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kenon Holdings' returns are expected to increase less than the market. However, during the bear market, the loss of holding Kenon Holdings is expected to be smaller as well. Please check Kenon Holdings' expected short fall, and the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether Kenon Holdings' current price movements will revert.
Auto-correlation | 0.51 |
Modest predictability
Kenon Holdings has modest predictability. Overlapping area represents the amount of predictability between Kenon Holdings time series from 29th of October 2023 to 11th of May 2024 and 11th of May 2024 to 22nd 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 Kenon Holdings price movement. The serial correlation of 0.51 indicates that about 51.0% of current Kenon Holdings price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 2.36 |
Kenon Holdings lagged returns against current returns
Autocorrelation, which is Kenon Holdings 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 Kenon Holdings' stock expected returns. We can calculate the autocorrelation of Kenon Holdings returns to help us make a trade decision. For example, suppose you find that Kenon Holdings 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 |
Kenon Holdings 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 Kenon Holdings stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kenon Holdings stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kenon Holdings stock over time.
Current vs Lagged Prices |
| Timeline |
Kenon Holdings Lagged Returns
When evaluating Kenon Holdings' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kenon Holdings stock have on its future price. Kenon Holdings 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, Kenon Holdings autocorrelation shows the relationship between Kenon Holdings stock current value and its past values and can show if there is a momentum factor associated with investing in Kenon Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Kenon Holdings
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 Kenon Holdings 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 Kenon Holdings will appreciate offsetting losses from the drop in the long position's value.Moving together with Kenon Stock
| 0.81 | NRG | NRG Energy | PairCorr |
| 0.85 | PAM | Pampa Energia SA | PairCorr |
| 0.78 | TAC | TransAlta Corp | PairCorr |
| 0.86 | TLN | Talen Energy | PairCorr |
Moving against Kenon Stock
| 0.86 | ELPC | Companhia Paranaense Potential Growth | PairCorr |
| 0.71 | RNWWW | ReNew Energy Global | PairCorr |
| 0.7 | ES | Eversource Energy | PairCorr |
| 0.68 | FE | FirstEnergy | PairCorr |
| 0.6 | HE | Hawaiian Electric | PairCorr |
The ability to find closely correlated positions to Kenon Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kenon Holdings 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 Kenon Holdings - 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 Kenon Holdings to buy it.
The correlation of Kenon Holdings 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 Kenon Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kenon Holdings 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 Kenon Holdings 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 Kenon Holdings Correlation, Kenon Holdings Volatility and Kenon Holdings Alpha and Beta module to complement your research on Kenon Holdings. To learn how to invest in Kenon Stock, please use our How to Invest in Kenon Holdings guide.You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Kenon Holdings 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.