ENCANA P 6625 Market Value
| 292505AE4 | 106.00 0.96 0.91% |
| Symbol | ENCANA |
ENCANA '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 ENCANA's bond 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 ENCANA.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in ENCANA on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding ENCANA P 6625 or generate 0.0% return on investment in ENCANA over 90 days. ENCANA is related to or competes with Coca Cola, JPMorgan Chase, Dupont De, Alcoa Corp, Boeing, Microsoft, and Procter Gamble. More
ENCANA 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 ENCANA's bond 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 ENCANA P 6625 upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 6.88 | |||
| Value At Risk | (2.66) | |||
| Potential Upside | 1.47 |
ENCANA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ENCANA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ENCANA's standard deviation. In reality, there are many statistical measures that can use ENCANA historical prices to predict the future ENCANA's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.32) | |||
| Treynor Ratio | 1.2 |
ENCANA P 6625 Backtested Returns
ENCANA P 6625 retains Efficiency (Sharpe Ratio) of -0.11, which denotes the bond had a -0.11% return per unit of risk over the last 3 months. ENCANA exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ENCANA's Market Risk Adjusted Performance of 1.21, variance of 1.51, and Standard Deviation of 1.23 to check the risk estimate we provide. The bond owns a Beta (Systematic Risk) of -0.11, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ENCANA are expected to decrease at a much lower rate. During the bear market, ENCANA is likely to outperform the market.
Auto-correlation | -0.35 |
Poor reverse predictability
ENCANA P 6625 has poor reverse predictability. Overlapping area represents the amount of predictability between ENCANA time series from 28th of August 2024 to 12th of October 2024 and 12th of October 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 ENCANA P 6625 price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current ENCANA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.91 |
ENCANA P 6625 lagged returns against current returns
Autocorrelation, which is ENCANA bond'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 ENCANA's bond expected returns. We can calculate the autocorrelation of ENCANA returns to help us make a trade decision. For example, suppose you find that ENCANA has exhibited high autocorrelation historically, and you observe that the bond 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 |
ENCANA 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 ENCANA bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ENCANA bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ENCANA bond over time.
Current vs Lagged Prices |
| Timeline |
ENCANA Lagged Returns
When evaluating ENCANA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ENCANA bond have on its future price. ENCANA 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, ENCANA autocorrelation shows the relationship between ENCANA bond current value and its past values and can show if there is a momentum factor associated with investing in ENCANA P 6625.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in ENCANA Bond
ENCANA financial ratios help investors to determine whether ENCANA Bond 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 ENCANA with respect to the benefits of owning ENCANA security.