Gear Energy Stock Market Value
| GXE Stock | CAD 0.54 0.01 1.89% |
| Symbol | Gear |
Gear Energy Price To Book Ratio
Gear 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 Gear 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 Gear Energy.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Gear Energy on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Gear Energy or generate 0.0% return on investment in Gear Energy over 30 days. Gear Energy is related to or competes with Cardinal Energy, Tamarack Valley, Athabasca Oil, Headwater Exploration, and NuVista Energy. Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natura... More
Gear 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 Gear 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 Gear Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 12.23 | |||
| Value At Risk | (4.84) | |||
| Potential Upside | 3.85 |
Gear Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gear Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gear Energy's standard deviation. In reality, there are many statistical measures that can use Gear Energy historical prices to predict the future Gear Energy's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (0.40) |
Gear Energy Backtested Returns
Gear Energy holds Efficiency (Sharpe) Ratio of -0.0882, which attests that the entity had a -0.0882% return per unit of standard deviation over the last 3 months. Gear Energy exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Gear Energy's market risk adjusted performance of (0.39), and Risk Adjusted Performance of (0.07) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.64, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Gear Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Gear Energy is expected to be smaller as well. At this point, Gear Energy has a negative expected return of -0.23%. Please make sure to check out Gear Energy's standard deviation and the relationship between the total risk alpha and day typical price , to decide if Gear Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Gear Energy has virtually no predictability. Overlapping area represents the amount of predictability between Gear Energy time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Gear Energy price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Gear Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Gear Energy lagged returns against current returns
Autocorrelation, which is Gear 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 Gear Energy's stock expected returns. We can calculate the autocorrelation of Gear Energy returns to help us make a trade decision. For example, suppose you find that Gear 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 |
Gear 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 Gear Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gear Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gear Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Gear Energy Lagged Returns
When evaluating Gear Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gear Energy stock have on its future price. Gear 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, Gear Energy autocorrelation shows the relationship between Gear Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Gear Energy.
Regressed Prices |
| Timeline |
Pair Trading with Gear 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 Gear 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 Gear Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Gear Stock
| 0.78 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.77 | NA-PG | National Bank Earnings Call This Week | PairCorr |
| 0.76 | ENS | E Split Corp | PairCorr |
| 0.72 | ENS-PA | E Split Corp | PairCorr |
| 0.41 | ENB-PFU | Enbridge Pref L | PairCorr |
The ability to find closely correlated positions to Gear 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 Gear 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 Gear 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 Gear Energy to buy it.
The correlation of Gear 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 Gear Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gear 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 Gear 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 Gear Stock
Gear Energy financial ratios help investors to determine whether Gear 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 Gear with respect to the benefits of owning Gear Energy security.