Devon Energy (Mexico) Market Value
| DVN Stock | MXN 625.45 5.44 0.88% |
| Symbol | Devon |
Devon 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 Devon 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 Devon Energy.
| 11/26/2024 |
| 12/26/2024 |
If you would invest 0.00 in Devon Energy on November 26, 2024 and sell it all today you would earn a total of 0.00 from holding Devon Energy or generate 0.0% return on investment in Devon Energy over 30 days. Devon Energy is related to or competes with ConocoPhillips, Cabot Oil, and APA. Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and producti... More
Devon 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 Devon 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 Devon Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 8.81 | |||
| Value At Risk | (4.73) | |||
| Potential Upside | 2.84 |
Devon Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Devon Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Devon Energy's standard deviation. In reality, there are many statistical measures that can use Devon Energy historical prices to predict the future Devon Energy's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.36) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | 4.06 |
Devon Energy Backtested Returns
Devon Energy secures Sharpe Ratio (or Efficiency) of -0.17, which denotes the company had a -0.17% return per unit of risk over the last 3 months. Devon Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Devon Energy's Variance of 4.03, standard deviation of 2.01, and Mean Deviation of 1.41 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0905, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Devon Energy are expected to decrease at a much lower rate. During the bear market, Devon Energy is likely to outperform the market. At this point, Devon Energy has a negative expected return of -0.33%. Please make sure to confirm Devon Energy's daily balance of power, and the relationship between the skewness and day typical price , to decide if Devon Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.69 |
Good predictability
Devon Energy has good predictability. Overlapping area represents the amount of predictability between Devon Energy time series from 26th of November 2024 to 11th of December 2024 and 11th of December 2024 to 26th of December 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 Devon Energy price movement. The serial correlation of 0.69 indicates that around 69.0% of current Devon Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 714.95 |
Devon Energy lagged returns against current returns
Autocorrelation, which is Devon 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 Devon Energy's stock expected returns. We can calculate the autocorrelation of Devon Energy returns to help us make a trade decision. For example, suppose you find that Devon 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 |
Devon 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 Devon Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Devon Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Devon Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Devon Energy Lagged Returns
When evaluating Devon Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Devon Energy stock have on its future price. Devon 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, Devon Energy autocorrelation shows the relationship between Devon Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Devon Energy.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Devon Stock Analysis
When running Devon Energy's price analysis, check to measure Devon Energy'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 Devon Energy is operating at the current time. Most of Devon Energy's value examination focuses on studying past and present price action to predict the probability of Devon Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Devon Energy's price. Additionally, you may evaluate how the addition of Devon Energy to your portfolios can decrease your overall portfolio volatility.