Tourmaline Oil Corp Stock Market Value
| TOU Stock | CAD 69.12 1.36 2.01% |
| Symbol | Tourmaline |
Tourmaline Oil Corp Price To Book Ratio
Tourmaline Oil '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 Tourmaline Oil'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 Tourmaline Oil.
| 08/04/2023 |
| 04/30/2024 |
If you would invest 0.00 in Tourmaline Oil on August 4, 2023 and sell it all today you would earn a total of 0.00 from holding Tourmaline Oil Corp or generate 0.0% return on investment in Tourmaline Oil over 270 days. Tourmaline Oil is related to or competes with ARC Resources, Whitecap Resources, MEG Energy, Birchcliff Energy, and Vermilion Energy. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadi... More
Tourmaline Oil 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 Tourmaline Oil'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 Tourmaline Oil Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.55 | |||
| Information Ratio | 0.1061 | |||
| Maximum Drawdown | 6.73 | |||
| Value At Risk | (2.20) | |||
| Potential Upside | 2.7 |
Tourmaline Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tourmaline Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tourmaline Oil's standard deviation. In reality, there are many statistical measures that can use Tourmaline Oil historical prices to predict the future Tourmaline Oil's volatility.| Risk Adjusted Performance | 0.1077 | |||
| Jensen Alpha | 0.1922 | |||
| Total Risk Alpha | 0.0465 | |||
| Sortino Ratio | 0.1073 | |||
| Treynor Ratio | 0.3657 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Tourmaline Oil'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.
Tourmaline Oil Corp Backtested Returns
Tourmaline Oil appears to be very steady, given 3 months investment horizon. Tourmaline Oil Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.19, which indicates the firm had a 0.19% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Tourmaline Oil Corp, which you can use to evaluate the volatility of the company. Please review Tourmaline Oil's Coefficient Of Variation of 613.3, risk adjusted performance of 0.1077, and Semi Deviation of 1.27 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Tourmaline Oil holds a performance score of 15. The entity has a beta of 0.67, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Tourmaline Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Tourmaline Oil is expected to be smaller as well. Please check Tourmaline Oil's skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Tourmaline Oil's existing price patterns will revert.
Auto-correlation | -0.36 |
Poor reverse predictability
Tourmaline Oil Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Tourmaline Oil time series from 4th of August 2023 to 17th of December 2023 and 17th of December 2023 to 30th 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 Tourmaline Oil Corp price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Tourmaline Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 13.18 |
Tourmaline Oil Corp lagged returns against current returns
Autocorrelation, which is Tourmaline Oil 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 Tourmaline Oil's stock expected returns. We can calculate the autocorrelation of Tourmaline Oil returns to help us make a trade decision. For example, suppose you find that Tourmaline Oil 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 |
Tourmaline Oil 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 Tourmaline Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tourmaline Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tourmaline Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Tourmaline Oil Lagged Returns
When evaluating Tourmaline Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tourmaline Oil stock have on its future price. Tourmaline Oil 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, Tourmaline Oil autocorrelation shows the relationship between Tourmaline Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Tourmaline Oil Corp.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Check out Tourmaline Oil Correlation, Tourmaline Oil Volatility and Tourmaline Oil Alpha and Beta module to complement your research on Tourmaline Oil. You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Complementary Tools for Tourmaline Stock analysis
When running Tourmaline Oil's price analysis, check to measure Tourmaline Oil'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 Tourmaline Oil is operating at the current time. Most of Tourmaline Oil's value examination focuses on studying past and present price action to predict the probability of Tourmaline Oil's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Tourmaline Oil's price. Additionally, you may evaluate how the addition of Tourmaline Oil to your portfolios can decrease your overall portfolio volatility.
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Tourmaline Oil 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.