Enthusiast Gaming Holdings Stock Market Value
| EGLX Stock | CAD 0.16 0.02 14.29% |
| Symbol | Enthusiast |
Enthusiast Gaming Price To Book Ratio
Enthusiast Gaming '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 Enthusiast Gaming'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 Enthusiast Gaming.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Enthusiast Gaming on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Enthusiast Gaming Holdings or generate 0.0% return on investment in Enthusiast Gaming over 30 days. Enthusiast Gaming is related to or competes with Bragg Gaming, Converge Technology, Docebo, and Dye Durham. Enthusiast Gaming Holdings Inc. engages in the media, content, entertainment, and esports businesses the United States, ... More
Enthusiast Gaming 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 Enthusiast Gaming'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 Enthusiast Gaming Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 7.8 | |||
| Information Ratio | 0.0409 | |||
| Maximum Drawdown | 32.5 | |||
| Value At Risk | (6.67) | |||
| Potential Upside | 7.14 |
Enthusiast Gaming Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enthusiast Gaming's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enthusiast Gaming's standard deviation. In reality, there are many statistical measures that can use Enthusiast Gaming historical prices to predict the future Enthusiast Gaming's volatility.| Risk Adjusted Performance | 0.0544 | |||
| Jensen Alpha | 0.5677 | |||
| Total Risk Alpha | (0.54) | |||
| Sortino Ratio | 0.0293 | |||
| Treynor Ratio | (0.17) |
Enthusiast Gaming Backtested Returns
Enthusiast Gaming appears to be out of control, given 3 months investment horizon. Enthusiast Gaming secures Sharpe Ratio (or Efficiency) of 0.0454, which denotes the company had a 0.0454% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Enthusiast Gaming Holdings, which you can use to evaluate the volatility of the firm. Please utilize Enthusiast Gaming's Coefficient Of Variation of 1581.16, downside deviation of 7.8, and Mean Deviation of 3.63 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Enthusiast Gaming holds a performance score of 3. The firm shows a Beta (market volatility) of -1.96, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Enthusiast Gaming are expected to decrease by larger amounts. On the other hand, during market turmoil, Enthusiast Gaming is expected to outperform it. Please check Enthusiast Gaming's total risk alpha, treynor ratio, value at risk, as well as the relationship between the sortino ratio and maximum drawdown , to make a quick decision on whether Enthusiast Gaming's price patterns will revert.
Auto-correlation | 0.61 |
Good predictability
Enthusiast Gaming Holdings has good predictability. Overlapping area represents the amount of predictability between Enthusiast Gaming time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Enthusiast Gaming price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Enthusiast Gaming price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Enthusiast Gaming lagged returns against current returns
Autocorrelation, which is Enthusiast Gaming 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 Enthusiast Gaming's stock expected returns. We can calculate the autocorrelation of Enthusiast Gaming returns to help us make a trade decision. For example, suppose you find that Enthusiast Gaming 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 |
Enthusiast Gaming 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 Enthusiast Gaming stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enthusiast Gaming stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enthusiast Gaming stock over time.
Current vs Lagged Prices |
| Timeline |
Enthusiast Gaming Lagged Returns
When evaluating Enthusiast Gaming's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enthusiast Gaming stock have on its future price. Enthusiast Gaming 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, Enthusiast Gaming autocorrelation shows the relationship between Enthusiast Gaming stock current value and its past values and can show if there is a momentum factor associated with investing in Enthusiast Gaming Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Enthusiast Gaming
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 Enthusiast Gaming 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 Enthusiast Gaming will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Enthusiast Gaming could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enthusiast Gaming 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 Enthusiast Gaming - 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 Enthusiast Gaming Holdings to buy it.
The correlation of Enthusiast Gaming 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 Enthusiast Gaming moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enthusiast Gaming 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 Enthusiast Gaming 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 Enthusiast Stock
Enthusiast Gaming financial ratios help investors to determine whether Enthusiast 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 Enthusiast with respect to the benefits of owning Enthusiast Gaming security.