Enags Sa Stock Market Value
| ENGGF Stock | USD 15.15 0.40 2.71% |
| Symbol | Enagás |
Enagás SA '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 Enagás SA's pink sheet 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 Enagás SA.
| 04/07/2024 |
| 05/07/2024 |
If you would invest 0.00 in Enagás SA on April 7, 2024 and sell it all today you would earn a total of 0.00 from holding Enags SA or generate 0.0% return on investment in Enagás SA over 30 days. Enagás SA is related to or competes with NiSource, NewJersey Resources, Northwest Natural, UGI, and Spire. Enags, S.A. engages in the development, operation, and maintenance of gas infrastructures in Spain, Mexico, Chile, Peru,... More
Enagás SA 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 Enagás SA's pink sheet 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 Enags SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 11.95 | |||
| Value At Risk | (2.88) | |||
| Potential Upside | 3.0 |
Enagás SA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enagás SA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enagás SA's standard deviation. In reality, there are many statistical measures that can use Enagás SA historical prices to predict the future Enagás SA's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.28) | |||
| Treynor Ratio | 1.81 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Enagás SA'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.
Enagás SA Backtested Returns
Enagás SA secures Sharpe Ratio (or Efficiency) of -0.0398, which denotes the company had a -0.0398% return per unit of standard deviation over the last 3 months. Enags SA exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Enagás SA's Mean Deviation of 0.8339, standard deviation of 1.89, and Coefficient Of Variation of (2,568) to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0461, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Enagás SA are expected to decrease at a much lower rate. During the bear market, Enagás SA is likely to outperform the market. Enagás SA has an expected return of -0.0769%. Please make sure to confirm Enagás SA treynor ratio, day median price, and the relationship between the information ratio and kurtosis , to decide if Enagás SA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.92 |
Near perfect reversele predictability
Enags SA has near perfect reversele predictability. Overlapping area represents the amount of predictability between Enagás SA time series from 7th of April 2024 to 22nd of April 2024 and 22nd of April 2024 to 7th of May 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 Enagás SA price movement. The serial correlation of -0.92 indicates that approximately 92.0% of current Enagás SA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.92 | |
| Spearman Rank Test | -0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 0.1 |
Enagás SA lagged returns against current returns
Autocorrelation, which is Enagás SA pink sheet'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 Enagás SA's pink sheet expected returns. We can calculate the autocorrelation of Enagás SA returns to help us make a trade decision. For example, suppose you find that Enagás SA has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Enagás SA 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 Enagás SA pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enagás SA pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enagás SA pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Enagás SA Lagged Returns
When evaluating Enagás SA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enagás SA pink sheet have on its future price. Enagás SA 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, Enagás SA autocorrelation shows the relationship between Enagás SA pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Enags SA.
Regressed Prices |
| Timeline |
Pair Trading with Enagás SA
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 Enagás SA 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 Enagás SA will appreciate offsetting losses from the drop in the long position's value.Moving together with Enagás Pink Sheet
| 0.66 | GASNF | Naturgy Energy Group | PairCorr |
Moving against Enagás Pink Sheet
| 0.79 | TILE | Interface Downward Rally | PairCorr |
| 0.78 | AIG | American International | PairCorr |
| 0.75 | HOKCF | Hong Kong | PairCorr |
| 0.72 | NI | NiSource | PairCorr |
| 0.72 | CLS | Celestica | PairCorr |
The ability to find closely correlated positions to Enagás SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enagás SA 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 Enagás SA - 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 Enags SA to buy it.
The correlation of Enagás SA 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 Enagás SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enagás SA 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 Enagás SA 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 Enagás SA Correlation, Enagás SA Volatility and Enagás SA Alpha and Beta module to complement your research on Enagás SA. Note that the Enagás SA information on this page should be used as a complementary analysis to other Enagás SA'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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Complementary Tools for Enagás Pink Sheet analysis
When running Enagás SA's price analysis, check to measure Enagás SA'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 Enagás SA is operating at the current time. Most of Enagás SA's value examination focuses on studying past and present price action to predict the probability of Enagás SA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enagás SA's price. Additionally, you may evaluate how the addition of Enagás SA to your portfolios can decrease your overall portfolio volatility.
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Enagás SA technical pink sheet 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, pink sheet market cycles, or different charting patterns.