Meg Energy Corp Stock Market Value
| MEG Stock | CAD 26.02 0.63 2.36% |
| Symbol | MEG |
MEG Energy Corp Price To Book Ratio
MEG Energy '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 MEG Energy'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 MEG Energy.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in MEG Energy on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding MEG Energy Corp or generate 0.0% return on investment in MEG Energy over 180 days. MEG Energy is related to or competes with Baytex Energy, Whitecap Resources, Tamarack Valley, and ARC Resources. MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in the southern Athabasca reg... More
MEG Energy 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 MEG Energy'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 MEG Energy Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 9.64 | |||
| Value At Risk | (3.61) | |||
| Potential Upside | 3.78 |
MEG Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MEG Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MEG Energy's standard deviation. In reality, there are many statistical measures that can use MEG Energy historical prices to predict the future MEG Energy's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.10) |
MEG Energy Corp Backtested Returns
MEG Energy Corp has Sharpe Ratio of -0.0084, which conveys that the firm had a -0.0084% return per unit of risk over the last 3 months. MEG Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MEG Energy's risk adjusted performance of (0.01), and Mean Deviation of 1.75 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.44, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, MEG Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding MEG Energy is expected to be smaller as well. At this point, MEG Energy Corp has a negative expected return of -0.0184%. Please make sure to verify MEG Energy's total risk alpha, kurtosis, market facilitation index, as well as the relationship between the value at risk and rate of daily change , to decide if MEG Energy Corp performance from the past will be repeated in the future.
Auto-correlation | 0.04 |
Virtually no predictability
MEG Energy Corp has virtually no predictability. Overlapping area represents the amount of predictability between MEG Energy time series from 30th of May 2024 to 28th of August 2024 and 28th of August 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 MEG Energy Corp price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current MEG Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 1.14 |
MEG Energy Corp lagged returns against current returns
Autocorrelation, which is MEG Energy 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 MEG Energy's stock expected returns. We can calculate the autocorrelation of MEG Energy returns to help us make a trade decision. For example, suppose you find that MEG Energy 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 |
MEG Energy 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 MEG Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MEG Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MEG Energy stock over time.
Current vs Lagged Prices |
| Timeline |
MEG Energy Lagged Returns
When evaluating MEG Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MEG Energy stock have on its future price. MEG Energy 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, MEG Energy autocorrelation shows the relationship between MEG Energy stock current value and its past values and can show if there is a momentum factor associated with investing in MEG Energy Corp.
Regressed Prices |
| Timeline |
Pair Trading with MEG Energy
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 MEG Energy 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 MEG Energy will appreciate offsetting losses from the drop in the long position's value.Moving against MEG Stock
The ability to find closely correlated positions to MEG Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MEG Energy 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 MEG Energy - 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 MEG Energy Corp to buy it.
The correlation of MEG Energy 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 MEG Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MEG Energy Corp 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 MEG Energy 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 MEG Stock
MEG Energy financial ratios help investors to determine whether MEG 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 MEG with respect to the benefits of owning MEG Energy security.