West Canyon Energy Stock Market Value
| WCYN Stock | USD 0.0002 0.00 0.00% |
| Symbol | West |
Is Oil & Gas Exploration & Production space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of West Canyon. If investors know West will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about West Canyon listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (0.01) | Return On Assets (1.33) |
The market value of West Canyon Energy is measured differently than its book value, which is the value of West that is recorded on the company's balance sheet. Investors also form their own opinion of West Canyon's value that differs from its market value or its book value, called intrinsic value, which is West Canyon's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because West Canyon's market value can be influenced by many factors that don't directly affect West Canyon's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between West Canyon's value and its price as these two are different measures arrived at by different means. Investors typically determine if West Canyon is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, West Canyon'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.
West Canyon '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 West Canyon'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 West Canyon.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in West Canyon on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding West Canyon Energy or generate 0.0% return on investment in West Canyon over 30 days. West Canyon is related to or competes with Devon Energy, ConocoPhillips, Diamondback Energy, Occidental Petroleum, Hess, Permian Resources, and EOG Resources. West Canyon Energy Corp., an exploration stage company, engages in the exploration and production of oil and gas propert... More
West Canyon 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 West Canyon'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 West Canyon Energy upside and downside potential and time the market with a certain degree of confidence.
West Canyon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for West Canyon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as West Canyon's standard deviation. In reality, there are many statistical measures that can use West Canyon historical prices to predict the future West Canyon's volatility.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of West Canyon's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
West Canyon Energy Backtested Returns
We have found three technical indicators for West Canyon Energy, which you can use to evaluate the volatility of the company. The firm maintains a market beta of 0.0, which attests to not very significant fluctuations relative to the market. the returns on MARKET and West Canyon are completely uncorrelated.
Auto-correlation | 0.00 |
No correlation between past and present
West Canyon Energy has no correlation between past and present. Overlapping area represents the amount of predictability between West Canyon 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 West Canyon Energy price movement. The serial correlation of 0.0 indicates that just 0.0% of current West Canyon price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
West Canyon Energy lagged returns against current returns
Autocorrelation, which is West Canyon 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 West Canyon's stock expected returns. We can calculate the autocorrelation of West Canyon returns to help us make a trade decision. For example, suppose you find that West Canyon 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 |
West Canyon 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 West Canyon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if West Canyon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in West Canyon stock over time.
Current vs Lagged Prices |
| Timeline |
West Canyon Lagged Returns
When evaluating West Canyon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of West Canyon stock have on its future price. West Canyon 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, West Canyon autocorrelation shows the relationship between West Canyon stock current value and its past values and can show if there is a momentum factor associated with investing in West Canyon Energy.
Regressed Prices |
| Timeline |
Pair Trading with West Canyon
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 West Canyon 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 West Canyon will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to West Canyon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace West Canyon 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 West Canyon - 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 West Canyon Energy to buy it.
The correlation of West Canyon 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 West Canyon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if West Canyon Energy 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 West Canyon 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.Check out West Canyon Correlation, West Canyon Volatility and West Canyon Alpha and Beta module to complement your research on West Canyon. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
West Canyon technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.