Journey Energy Stock Statistic Functions Beta
| JOY Stock | CAD 2.22 0.03 1.37% |
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The output start index for this execution was three with a total number of output elements of fifty-eight. The Beta measures systematic risk based on how returns on Journey Energy correlated with the market. If Beta is less than 0 Journey Energy generally moves in the opposite direction as compared to the market. If Journey Energy Beta is about zero movement of price series is uncorrelated with the movement of the benchmark. if Beta is between zero and one Journey Energy is generally moves in the same direction as, but less than the movement of the market. For Beta = 1 movement of Journey Energy is generally in the same direction as the market. If Beta > 1 Journey Energy moves generally in the same direction as, but more than the movement of the benchmark.
Journey Energy Technical Analysis Modules
Most technical analysis of Journey Energy help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Journey from various momentum indicators to cycle indicators. When you analyze Journey charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Journey Energy Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Journey Energy. We use our internally-developed statistical techniques to arrive at the intrinsic value of Journey Energy based on widely used predictive technical indicators. In general, we focus on analyzing Journey Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Journey Energy's daily price indicators and compare them against related drivers, such as statistic functions and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Journey Energy's intrinsic value. In addition to deriving basic predictive indicators for Journey Energy, we also check how macroeconomic factors affect Journey Energy price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
| 2023 | 2024 (projected) | Dividend Yield | 0.0959 | 0.0666 | Price To Sales Ratio | 1.25 | 1.68 |
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Journey Energy pair trading
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 Journey Energy 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 Journey Energy will appreciate offsetting losses from the drop in the long position's value.Journey Energy Pair Trading
Journey Energy Pair Trading Analysis
The ability to find closely correlated positions to Journey Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Journey Energy 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 Journey Energy - 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 Journey Energy to buy it.
The correlation of Journey Energy 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 Journey Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Journey 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 Journey Energy 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 Journey Stock
Journey Energy financial ratios help investors to determine whether Journey 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 Journey with respect to the benefits of owning Journey Energy security.