Enbridge Stock Market Value
| ENB Stock | CAD 60.09 0.02 0.03% |
| Symbol | Enbridge |
Enbridge Price To Book Ratio
Enbridge '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 Enbridge'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 Enbridge.
| 11/26/2024 |
| 12/26/2024 |
If you would invest 0.00 in Enbridge on November 26, 2024 and sell it all today you would earn a total of 0.00 from holding Enbridge or generate 0.0% return on investment in Enbridge over 30 days. Enbridge is related to or competes with BCE, Fortis, Pembina Pipeline, and Telus Corp. The company operates through five segments Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Stora... More
Enbridge 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 Enbridge'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 Enbridge upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7006 | |||
| Information Ratio | 0.1328 | |||
| Maximum Drawdown | 3.6 | |||
| Value At Risk | (0.97) | |||
| Potential Upside | 1.54 |
Enbridge Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enbridge's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enbridge's standard deviation. In reality, there are many statistical measures that can use Enbridge historical prices to predict the future Enbridge's volatility.| Risk Adjusted Performance | 0.1607 | |||
| Jensen Alpha | 0.1412 | |||
| Total Risk Alpha | 0.1026 | |||
| Sortino Ratio | 0.1437 | |||
| Treynor Ratio | 2.26 |
Enbridge Backtested Returns
As of now, Enbridge Stock is very steady. Enbridge secures Sharpe Ratio (or Efficiency) of 0.22, which denotes the company had a 0.22% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Enbridge, which you can use to evaluate the volatility of the firm. Please confirm Enbridge's Mean Deviation of 0.5859, downside deviation of 0.7006, and Semi Deviation of 0.4515 to check if the risk estimate we provide is consistent with the expected return of 0.17%. Enbridge has a performance score of 17 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.0637, which means not very significant fluctuations relative to the market. As returns on the market increase, Enbridge's returns are expected to increase less than the market. However, during the bear market, the loss of holding Enbridge is expected to be smaller as well. Enbridge right now shows a risk of 0.75%. Please confirm Enbridge sortino ratio, semi variance, and the relationship between the standard deviation and value at risk , to decide if Enbridge will be following its price patterns.
Auto-correlation | -0.68 |
Very good reverse predictability
Enbridge has very good reverse predictability. Overlapping area represents the amount of predictability between Enbridge 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 Enbridge price movement. The serial correlation of -0.68 indicates that around 68.0% of current Enbridge price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.31 |
Enbridge lagged returns against current returns
Autocorrelation, which is Enbridge 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 Enbridge's stock expected returns. We can calculate the autocorrelation of Enbridge returns to help us make a trade decision. For example, suppose you find that Enbridge 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 |
Enbridge 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 Enbridge stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enbridge stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enbridge stock over time.
Current vs Lagged Prices |
| Timeline |
Enbridge Lagged Returns
When evaluating Enbridge's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enbridge stock have on its future price. Enbridge 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, Enbridge autocorrelation shows the relationship between Enbridge stock current value and its past values and can show if there is a momentum factor associated with investing in Enbridge.
Regressed Prices |
| Timeline |
Pair Trading with Enbridge
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 Enbridge 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 Enbridge will appreciate offsetting losses from the drop in the long position's value.Moving together with Enbridge Stock
Moving against Enbridge Stock
The ability to find closely correlated positions to Enbridge could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enbridge 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 Enbridge - 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 Enbridge to buy it.
The correlation of Enbridge 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 Enbridge moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enbridge 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 Enbridge 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.Check out Enbridge Correlation, Enbridge Volatility and Enbridge Alpha and Beta module to complement your research on Enbridge. To learn how to invest in Enbridge Stock, please use our How to Invest in Enbridge guide.You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Enbridge 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.