Engene Holdings Common Etf Market Value
| ENGN Etf | USD 8.69 0.08 0.91% |
| Symbol | EnGene |
The market value of enGene Holdings Common is measured differently than its book value, which is the value of EnGene that is recorded on the company's balance sheet. Investors also form their own opinion of EnGene Holdings' value that differs from its market value or its book value, called intrinsic value, which is EnGene Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because EnGene Holdings' market value can be influenced by many factors that don't directly affect EnGene Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between EnGene Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if EnGene Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EnGene Holdings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
EnGene Holdings '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 EnGene Holdings' etf 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 EnGene Holdings.
| 11/03/2024 |
| 12/03/2024 |
If you would invest 0.00 in EnGene Holdings on November 3, 2024 and sell it all today you would earn a total of 0.00 from holding enGene Holdings Common or generate 0.0% return on investment in EnGene Holdings over 30 days. EnGene Holdings is related to or competes with Agilent Technologies, Equillium, 23Andme Holding, DiaMedica Therapeutics, Valneva SE, Vivani Medical, and Denali Therapeutics. EnGene Holdings is entity of United States More
EnGene Holdings 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 EnGene Holdings' etf 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 enGene Holdings Common upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.5 | |||
| Information Ratio | 0.0705 | |||
| Maximum Drawdown | 17.93 | |||
| Value At Risk | (6.60) | |||
| Potential Upside | 8.98 |
EnGene Holdings Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EnGene Holdings' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EnGene Holdings' standard deviation. In reality, there are many statistical measures that can use EnGene Holdings historical prices to predict the future EnGene Holdings' volatility.| Risk Adjusted Performance | 0.0826 | |||
| Jensen Alpha | 0.3085 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | 0.0732 | |||
| Treynor Ratio | 0.375 |
enGene Holdings Common Backtested Returns
EnGene Holdings appears to be somewhat reliable, given 3 months investment horizon. enGene Holdings Common secures Sharpe Ratio (or Efficiency) of 0.11, which denotes the etf had a 0.11% return per unit of return volatility over the last 3 months. By inspecting EnGene Holdings' technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please utilize EnGene Holdings' risk adjusted performance of 0.0826, and Semi Deviation of 4.23 to check if our risk estimates are consistent with your expectations. The etf shows a Beta (market volatility) of 1.18, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, EnGene Holdings will likely underperform.
Auto-correlation | -0.69 |
Very good reverse predictability
enGene Holdings Common has very good reverse predictability. Overlapping area represents the amount of predictability between EnGene Holdings time series from 3rd of November 2024 to 18th of November 2024 and 18th of November 2024 to 3rd 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 enGene Holdings Common price movement. The serial correlation of -0.69 indicates that around 69.0% of current EnGene Holdings price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.43 |
enGene Holdings Common lagged returns against current returns
Autocorrelation, which is EnGene Holdings etf'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 EnGene Holdings' etf expected returns. We can calculate the autocorrelation of EnGene Holdings returns to help us make a trade decision. For example, suppose you find that EnGene Holdings has exhibited high autocorrelation historically, and you observe that the etf 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 |
EnGene Holdings 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 EnGene Holdings etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EnGene Holdings etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EnGene Holdings etf over time.
Current vs Lagged Prices |
| Timeline |
EnGene Holdings Lagged Returns
When evaluating EnGene Holdings' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EnGene Holdings etf have on its future price. EnGene Holdings 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, EnGene Holdings autocorrelation shows the relationship between EnGene Holdings etf current value and its past values and can show if there is a momentum factor associated with investing in enGene Holdings Common.
Regressed Prices |
| Timeline |
Pair Trading with EnGene Holdings
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 EnGene Holdings 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 EnGene Holdings will appreciate offsetting losses from the drop in the long position's value.Moving against EnGene Etf
| 0.67 | ME | 23Andme Holding | PairCorr |
| 0.58 | DTIL | Precision BioSciences | PairCorr |
| 0.49 | VALN | Valneva SE ADR | PairCorr |
| 0.45 | A | Agilent Technologies | PairCorr |
| 0.42 | VCNX | Vaccinex Trending | PairCorr |
The ability to find closely correlated positions to EnGene Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EnGene Holdings 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 EnGene Holdings - 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 enGene Holdings Common to buy it.
The correlation of EnGene Holdings 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 EnGene Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if enGene Holdings Common 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 EnGene Holdings 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 EnGene Etf
EnGene Holdings financial ratios help investors to determine whether EnGene Etf 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 EnGene with respect to the benefits of owning EnGene Holdings security.