Peyto Explorationdevelopment Corp Stock Market Value
| PEY Stock | CAD 17.16 0.08 0.47% |
| Symbol | Peyto |
Peyto ExplorationDevel Price To Book Ratio
Peyto ExplorationDevel '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 Peyto ExplorationDevel'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 Peyto ExplorationDevel.
| 08/25/2024 |
| 11/23/2024 |
If you would invest 0.00 in Peyto ExplorationDevel on August 25, 2024 and sell it all today you would earn a total of 0.00 from holding Peyto ExplorationDevelopment Corp or generate 0.0% return on investment in Peyto ExplorationDevel over 90 days. Peyto ExplorationDevel is related to or competes with Birchcliff Energy, Tourmaline Oil, ARC Resources, Whitecap Resources, and Freehold Royalties. Peyto Exploration Development Corp., an energy company, engages in the acquisition, exploration, development, and produc... More
Peyto ExplorationDevel 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 Peyto ExplorationDevel'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 Peyto ExplorationDevelopment Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.41 | |||
| Information Ratio | 0.107 | |||
| Maximum Drawdown | 7.07 | |||
| Value At Risk | (1.93) | |||
| Potential Upside | 2.63 |
Peyto ExplorationDevel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Peyto ExplorationDevel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Peyto ExplorationDevel's standard deviation. In reality, there are many statistical measures that can use Peyto ExplorationDevel historical prices to predict the future Peyto ExplorationDevel's volatility.| Risk Adjusted Performance | 0.155 | |||
| Jensen Alpha | 0.2464 | |||
| Total Risk Alpha | 0.0465 | |||
| Sortino Ratio | 0.1119 | |||
| Treynor Ratio | 1.06 |
Peyto ExplorationDevel Backtested Returns
Peyto ExplorationDevel appears to be very steady, given 3 months investment horizon. Peyto ExplorationDevel maintains Sharpe Ratio (i.e., Efficiency) of 0.19, which implies the firm had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Peyto ExplorationDevel, which you can use to evaluate the volatility of the company. Please evaluate Peyto ExplorationDevel's Semi Deviation of 1.05, risk adjusted performance of 0.155, and Coefficient Of Variation of 510.53 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Peyto ExplorationDevel holds a performance score of 14. The company holds a Beta of 0.26, which implies not very significant fluctuations relative to the market. As returns on the market increase, Peyto ExplorationDevel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Peyto ExplorationDevel is expected to be smaller as well. Please check Peyto ExplorationDevel's kurtosis, and the relationship between the downside variance and day median price , to make a quick decision on whether Peyto ExplorationDevel's historical price patterns will revert.
Auto-correlation | 0.61 |
Good predictability
Peyto ExplorationDevelopment Corp has good predictability. Overlapping area represents the amount of predictability between Peyto ExplorationDevel time series from 25th of August 2024 to 9th of October 2024 and 9th of October 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 Peyto ExplorationDevel price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Peyto ExplorationDevel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 0.25 |
Peyto ExplorationDevel lagged returns against current returns
Autocorrelation, which is Peyto ExplorationDevel 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 Peyto ExplorationDevel's stock expected returns. We can calculate the autocorrelation of Peyto ExplorationDevel returns to help us make a trade decision. For example, suppose you find that Peyto ExplorationDevel 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 |
Peyto ExplorationDevel 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 Peyto ExplorationDevel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Peyto ExplorationDevel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Peyto ExplorationDevel stock over time.
Current vs Lagged Prices |
| Timeline |
Peyto ExplorationDevel Lagged Returns
When evaluating Peyto ExplorationDevel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Peyto ExplorationDevel stock have on its future price. Peyto ExplorationDevel 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, Peyto ExplorationDevel autocorrelation shows the relationship between Peyto ExplorationDevel stock current value and its past values and can show if there is a momentum factor associated with investing in Peyto ExplorationDevelopment Corp.
Regressed Prices |
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Pair Trading with Peyto ExplorationDevel
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 Peyto ExplorationDevel 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 Peyto ExplorationDevel will appreciate offsetting losses from the drop in the long position's value.Moving together with Peyto Stock
| 0.82 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.74 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.71 | ENS | E Split Corp | PairCorr |
| 0.79 | ENS-PA | E Split Corp | PairCorr |
The ability to find closely correlated positions to Peyto ExplorationDevel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Peyto ExplorationDevel 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 Peyto ExplorationDevel - 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 Peyto ExplorationDevelopment Corp to buy it.
The correlation of Peyto ExplorationDevel 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 Peyto ExplorationDevel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Peyto ExplorationDevel 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 Peyto ExplorationDevel 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 Peyto Stock
Peyto ExplorationDevel financial ratios help investors to determine whether Peyto 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 Peyto with respect to the benefits of owning Peyto ExplorationDevel security.