Targa Resources Partners Market Value
| 87612BBU5 | 92.48 0.74 0.81% |
| Symbol | Targa |
Please note, there is a significant difference between Targa's value and its price as these two are different measures arrived at by different means. Investors typically determine if Targa is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Targa's 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.
Targa '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 Targa'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 Targa.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Targa on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Targa Resources Partners or generate 0.0% return on investment in Targa over 30 days. Targa is related to or competes with Alliant Energy, Nextplat Corp, NRG Energy, Asure Software, Datadog, ServiceNow, and Black Hills. More
Targa 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 Targa'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 Targa Resources Partners upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 3.52 | |||
| Value At Risk | (0.85) | |||
| Potential Upside | 0.6886 |
Targa Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Targa's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Targa's standard deviation. In reality, there are many statistical measures that can use Targa historical prices to predict the future Targa's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.16) | |||
| Treynor Ratio | (1.33) |
Targa Resources Partners Backtested Returns
Targa Resources Partners owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0869, which indicates the bond had a -0.0869% return per unit of risk over the last 3 months. Targa Resources Partners exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Targa's Risk Adjusted Performance of (0.06), coefficient of variation of (1,325), and Variance of 0.3952 to confirm the risk estimate we provide. The entity has a beta of 0.0433, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Targa's returns are expected to increase less than the market. However, during the bear market, the loss of holding Targa is expected to be smaller as well.
Auto-correlation | -0.26 |
Weak reverse predictability
Targa Resources Partners has weak reverse predictability. Overlapping area represents the amount of predictability between Targa time series from 27th of October 2024 to 11th of November 2024 and 11th of November 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 Targa Resources Partners price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Targa price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Targa Resources Partners lagged returns against current returns
Autocorrelation, which is Targa 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 Targa's bond expected returns. We can calculate the autocorrelation of Targa returns to help us make a trade decision. For example, suppose you find that Targa 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 |
Targa 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 Targa bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Targa bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Targa bond over time.
Current vs Lagged Prices |
| Timeline |
Targa Lagged Returns
When evaluating Targa's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Targa bond have on its future price. Targa 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, Targa autocorrelation shows the relationship between Targa bond current value and its past values and can show if there is a momentum factor associated with investing in Targa Resources Partners.
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 Targa Bond
Targa financial ratios help investors to determine whether Targa 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 Targa with respect to the benefits of owning Targa security.