TRANSCANADA PIPELINES LTD Market Value
| 89352HAL3 | 92.15 0.00 0.00% |
| Symbol | TRANSCANADA |
TRANSCANADA '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 TRANSCANADA'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 TRANSCANADA.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in TRANSCANADA on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding TRANSCANADA PIPELINES LTD or generate 0.0% return on investment in TRANSCANADA over 30 days. TRANSCANADA is related to or competes with 00108WAF7, 90331HPL1, Nasdaq, Vertiv Holdings, American Express, Intel, and Pfizer. More
TRANSCANADA 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 TRANSCANADA'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 TRANSCANADA PIPELINES LTD upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.61 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 29.27 | |||
| Value At Risk | (5.07) | |||
| Potential Upside | 5.45 |
TRANSCANADA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TRANSCANADA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TRANSCANADA's standard deviation. In reality, there are many statistical measures that can use TRANSCANADA historical prices to predict the future TRANSCANADA's volatility.| Risk Adjusted Performance | 0.0143 | |||
| Jensen Alpha | 0.0685 | |||
| Total Risk Alpha | (0.61) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.06) |
TRANSCANADA PIPELINES LTD Backtested Returns
At this point, TRANSCANADA is very steady. TRANSCANADA PIPELINES LTD retains Efficiency (Sharpe Ratio) of 0.0193, which indicates the bond had a 0.0193% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for TRANSCANADA, which you can use to evaluate the volatility of the bond. Please validate TRANSCANADA's risk adjusted performance of 0.0143, and Downside Deviation of 4.61 to confirm if the risk estimate we provide is consistent with the expected return of 0.0715%. The entity owns a Beta (Systematic Risk) of -0.39, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning TRANSCANADA are expected to decrease at a much lower rate. During the bear market, TRANSCANADA is likely to outperform the market.
Auto-correlation | -0.76 |
Almost perfect reverse predictability
TRANSCANADA PIPELINES LTD has almost perfect reverse predictability. Overlapping area represents the amount of predictability between TRANSCANADA time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 TRANSCANADA PIPELINES LTD price movement. The serial correlation of -0.76 indicates that around 76.0% of current TRANSCANADA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.76 | |
| Spearman Rank Test | -0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 3.26 |
TRANSCANADA PIPELINES LTD lagged returns against current returns
Autocorrelation, which is TRANSCANADA 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 TRANSCANADA's bond expected returns. We can calculate the autocorrelation of TRANSCANADA returns to help us make a trade decision. For example, suppose you find that TRANSCANADA 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 |
TRANSCANADA 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 TRANSCANADA bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TRANSCANADA bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TRANSCANADA bond over time.
Current vs Lagged Prices |
| Timeline |
TRANSCANADA Lagged Returns
When evaluating TRANSCANADA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TRANSCANADA bond have on its future price. TRANSCANADA 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, TRANSCANADA autocorrelation shows the relationship between TRANSCANADA bond current value and its past values and can show if there is a momentum factor associated with investing in TRANSCANADA PIPELINES LTD.
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 TRANSCANADA Bond
TRANSCANADA financial ratios help investors to determine whether TRANSCANADA 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 TRANSCANADA with respect to the benefits of owning TRANSCANADA security.