ENCE Energa (Spain) Market Value
| ENC Stock | EUR 3.08 0.02 0.65% |
| Symbol | ENCE |
ENCE Energa '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 ENCE Energa'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 ENCE Energa.
| 03/21/2024 |
| 04/20/2024 |
If you would invest 0.00 in ENCE Energa on March 21, 2024 and sell it all today you would earn a total of 0.00 from holding ENCE Energa y or generate 0.0% return on investment in ENCE Energa over 30 days. ENCE Energa is related to or competes with CIE Automotive, Mapfre, ArcelorMittal, and ACS Actividades. ENCE Energa y Celulosa, S.A., together with its subsidiaries, produces and sells eucalyptus pulp and renewable energy in... More
ENCE Energa 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 ENCE Energa'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 ENCE Energa y upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.41 | |||
| Information Ratio | 0.0745 | |||
| Maximum Drawdown | 8.03 | |||
| Value At Risk | (1.77) | |||
| Potential Upside | 3.5 |
ENCE Energa Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ENCE Energa's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ENCE Energa's standard deviation. In reality, there are many statistical measures that can use ENCE Energa historical prices to predict the future ENCE Energa's volatility.| Risk Adjusted Performance | 0.0838 | |||
| Jensen Alpha | 0.1883 | |||
| Total Risk Alpha | (0) | |||
| Sortino Ratio | 0.0865 | |||
| Treynor Ratio | 1.68 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ENCE Energa'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.
ENCE Energa y Backtested Returns
We consider ENCE Energa slightly risky. ENCE Energa y retains Efficiency (Sharpe Ratio) of 0.0944, which denotes the company had a 0.0944% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ENCE Energa, which you can use to evaluate the volatility of the firm. Please confirm ENCE Energa's Market Risk Adjusted Performance of 1.69, downside deviation of 1.41, and Coefficient Of Variation of 788.78 to check if the risk estimate we provide is consistent with the expected return of 0.15%. ENCE Energa has a performance score of 7 on a scale of 0 to 100. The firm owns a Beta (Systematic Risk) of 0.12, which means not very significant fluctuations relative to the market. As returns on the market increase, ENCE Energa's returns are expected to increase less than the market. However, during the bear market, the loss of holding ENCE Energa is expected to be smaller as well. ENCE Energa y at this time owns a risk of 1.59%. Please confirm ENCE Energa y jensen alpha, maximum drawdown, and the relationship between the coefficient of variation and sortino ratio , to decide if ENCE Energa y will be following its current price history.
Auto-correlation | -0.96 |
Near perfect reversele predictability
ENCE Energa y has near perfect reversele predictability. Overlapping area represents the amount of predictability between ENCE Energa time series from 21st of March 2024 to 5th of April 2024 and 5th of April 2024 to 20th of April 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 ENCE Energa y price movement. The serial correlation of -0.96 indicates that 96.0% of current ENCE Energa price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.96 | |
| Spearman Rank Test | -0.94 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
ENCE Energa y lagged returns against current returns
Autocorrelation, which is ENCE Energa 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 ENCE Energa's stock expected returns. We can calculate the autocorrelation of ENCE Energa returns to help us make a trade decision. For example, suppose you find that ENCE Energa 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 |
ENCE Energa 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 ENCE Energa stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ENCE Energa stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ENCE Energa stock over time.
Current vs Lagged Prices |
| Timeline |
ENCE Energa Lagged Returns
When evaluating ENCE Energa's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ENCE Energa stock have on its future price. ENCE Energa 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, ENCE Energa autocorrelation shows the relationship between ENCE Energa stock current value and its past values and can show if there is a momentum factor associated with investing in ENCE Energa y.
Regressed Prices |
| Timeline |
Pair Trading with ENCE Energa
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 ENCE Energa 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 ENCE Energa will appreciate offsetting losses from the drop in the long position's value.Moving together with ENCE Stock
| 0.86 | SAN | Banco Santander | PairCorr |
| 0.73 | BBVA | Banco Bilbao Vizcaya | PairCorr |
| 0.8 | CABK | Caixabank SA | PairCorr |
| 0.8 | SAB | Banco de Sabadell Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to ENCE Energa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ENCE Energa 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 ENCE Energa - 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 ENCE Energa y to buy it.
The correlation of ENCE Energa 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 ENCE Energa moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ENCE Energa y 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 ENCE Energa 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 ENCE Energa Correlation, ENCE Energa Volatility and ENCE Energa Alpha and Beta module to complement your research on ENCE Energa. Note that the ENCE Energa y information on this page should be used as a complementary analysis to other ENCE Energa's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Complementary Tools for ENCE Stock analysis
When running ENCE Energa's price analysis, check to measure ENCE Energa's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ENCE Energa is operating at the current time. Most of ENCE Energa's value examination focuses on studying past and present price action to predict the probability of ENCE Energa's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ENCE Energa's price. Additionally, you may evaluate how the addition of ENCE Energa to your portfolios can decrease your overall portfolio volatility.
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |
ENCE Energa 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.