Cardinal Energy Stock Market Value
| CJ Stock | CAD 6.56 0.06 0.91% |
| Symbol | Cardinal |
Cardinal Energy Price To Book Ratio
Cardinal Energy '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 Cardinal Energy'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 Cardinal Energy.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Cardinal Energy on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Cardinal Energy or generate 0.0% return on investment in Cardinal Energy over 180 days. Cardinal Energy is related to or competes with Tamarack Valley, Gear Energy, Whitecap Resources, Athabasca Oil, and Surge Energy. Cardinal Energy Ltd. engages in the acquisition, exploration, and production of oil and natural gas in the provinces of ... More
Cardinal Energy 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 Cardinal Energy'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 Cardinal Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 4.5 | |||
| Value At Risk | (2.20) | |||
| Potential Upside | 1.44 |
Cardinal Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cardinal Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cardinal Energy's standard deviation. In reality, there are many statistical measures that can use Cardinal Energy historical prices to predict the future Cardinal Energy's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.15) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cardinal Energy'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.
Cardinal Energy Backtested Returns
As of now, Cardinal Stock is not too volatile. Cardinal Energy secures Sharpe Ratio (or Efficiency) of 0.0242, which signifies that the company had a 0.0242% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for Cardinal Energy, which you can use to evaluate the volatility of the firm. Please confirm Cardinal Energy's Risk Adjusted Performance of (0.01), mean deviation of 0.8953, and Standard Deviation of 1.11 to double-check if the risk estimate we provide is consistent with the expected return of 0.0246%. Cardinal Energy has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.23, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cardinal Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cardinal Energy is expected to be smaller as well. Cardinal Energy right now shows a risk of 1.02%. Please confirm Cardinal Energy total risk alpha, skewness, as well as the relationship between the Skewness and day median price , to decide if Cardinal Energy will be following its price patterns.
Auto-correlation | 0.43 |
Average predictability
Cardinal Energy has average predictability. Overlapping area represents the amount of predictability between Cardinal Energy time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th of November 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 Cardinal Energy price movement. The serial correlation of 0.43 indicates that just about 43.0% of current Cardinal Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.43 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Cardinal Energy lagged returns against current returns
Autocorrelation, which is Cardinal Energy 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 Cardinal Energy's stock expected returns. We can calculate the autocorrelation of Cardinal Energy returns to help us make a trade decision. For example, suppose you find that Cardinal Energy 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 |
Cardinal Energy 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 Cardinal Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cardinal Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cardinal Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Cardinal Energy Lagged Returns
When evaluating Cardinal Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cardinal Energy stock have on its future price. Cardinal Energy 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, Cardinal Energy autocorrelation shows the relationship between Cardinal Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Cardinal Energy.
Regressed Prices |
| Timeline |
Pair Trading with Cardinal Energy
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 Cardinal 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 Cardinal Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Cardinal Stock
Moving against Cardinal Stock
The ability to find closely correlated positions to Cardinal 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 Cardinal 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 Cardinal 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 Cardinal Energy to buy it.
The correlation of Cardinal 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 Cardinal Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cardinal 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 Cardinal 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 Cardinal Stock
Cardinal Energy financial ratios help investors to determine whether Cardinal 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 Cardinal with respect to the benefits of owning Cardinal Energy security.