Northland Power Stock Market Value
| NPI Stock | CAD 23.04 0.05 0.22% |
| Symbol | Northland |
Northland Power Price To Book Ratio
Northland Power '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 Northland Power'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 Northland Power.
| 04/22/2025 |
| 07/21/2025 |
If you would invest 0.00 in Northland Power on April 22, 2025 and sell it all today you would earn a total of 0.00 from holding Northland Power or generate 0.0% return on investment in Northland Power over 90 days. Northland Power is related to or competes with Brookfield Renewable, Algonquin Power, Boralex, Innergex Renewable, and Capital Power. Northland Power Inc., an independent power producer, develops, builds, owns, and operates clean and green power projects... More
Northland Power 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 Northland Power'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 Northland Power upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9588 | |||
| Information Ratio | 0.1865 | |||
| Maximum Drawdown | 5.91 | |||
| Value At Risk | (1.35) | |||
| Potential Upside | 2.46 |
Northland Power Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Northland Power's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Northland Power's standard deviation. In reality, there are many statistical measures that can use Northland Power historical prices to predict the future Northland Power's volatility.| Risk Adjusted Performance | 0.2866 | |||
| Jensen Alpha | 0.3817 | |||
| Total Risk Alpha | 0.1862 | |||
| Sortino Ratio | 0.232 | |||
| Treynor Ratio | (1.62) |
Northland Power Backtested Returns
Northland Power appears to be very steady, given 3 months investment horizon. Northland Power has Sharpe Ratio of 0.31, which conveys that the firm had a 0.31 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Northland Power, which you can use to evaluate the volatility of the firm. Please exercise Northland Power's Mean Deviation of 0.9236, risk adjusted performance of 0.2866, and Downside Deviation of 0.9588 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Northland Power holds a performance score of 24. The company secures a Beta (Market Risk) of -0.22, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Northland Power are expected to decrease at a much lower rate. During the bear market, Northland Power is likely to outperform the market. Please check Northland Power's expected short fall, and the relationship between the value at risk and daily balance of power , to make a quick decision on whether Northland Power's current price movements will revert.
Auto-correlation | 0.81 |
Very good predictability
Northland Power has very good predictability. Overlapping area represents the amount of predictability between Northland Power time series from 22nd of April 2025 to 6th of June 2025 and 6th of June 2025 to 21st of July 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Northland Power price movement. The serial correlation of 0.81 indicates that around 81.0% of current Northland Power price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 0.62 |
Northland Power lagged returns against current returns
Autocorrelation, which is Northland Power 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 Northland Power's stock expected returns. We can calculate the autocorrelation of Northland Power returns to help us make a trade decision. For example, suppose you find that Northland Power 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 |
Northland Power 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 Northland Power stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Northland Power stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Northland Power stock over time.
Current vs Lagged Prices |
| Timeline |
Northland Power Lagged Returns
When evaluating Northland Power's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Northland Power stock have on its future price. Northland Power 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, Northland Power autocorrelation shows the relationship between Northland Power stock current value and its past values and can show if there is a momentum factor associated with investing in Northland Power.
Regressed Prices |
| Timeline |
Pair Trading with Northland Power
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 Northland Power 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 Northland Power will appreciate offsetting losses from the drop in the long position's value.Moving together with Northland Stock
| 0.95 | FFH-PH | Fairfax Financial | PairCorr |
| 0.8 | BMO-PE | Bank of Montreal | PairCorr |
| 0.94 | BMO | Bank of Montreal | PairCorr |
| 0.86 | RY-PS | Royal Bank | PairCorr |
The ability to find closely correlated positions to Northland Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northland Power 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 Northland Power - 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 Northland Power to buy it.
The correlation of Northland Power 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 Northland Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northland Power 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 Northland Power 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 Northland Stock
Northland Power financial ratios help investors to determine whether Northland 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 Northland with respect to the benefits of owning Northland Power security.