Journey Energy Stock Market Value
| JOY Stock | CAD 2.14 0.05 2.39% |
| Symbol | Journey |
Journey Energy Price To Book Ratio
Journey 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 Journey 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 Journey Energy.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Journey Energy on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Journey Energy or generate 0.0% return on investment in Journey Energy over 30 days. Journey Energy is related to or competes with Gear Energy, InPlay Oil, Headwater Exploration, Cardinal Energy, and Pine Cliff. Journey Energy Inc. engages in the exploration, development, and production of crude oil and natural gas in the province... More
Journey 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 Journey 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 Journey Energy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 11.88 | |||
| Value At Risk | (4.20) | |||
| Potential Upside | 3.0 |
Journey Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Journey Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Journey Energy's standard deviation. In reality, there are many statistical measures that can use Journey Energy historical prices to predict the future Journey Energy's volatility.| Risk Adjusted Performance | 0.0034 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.12) |
Journey Energy Backtested Returns
Journey Energy holds Efficiency (Sharpe) Ratio of -0.0516, which attests that the entity had a -0.0516% return per unit of risk over the last 3 months. Journey Energy exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Journey Energy's Standard Deviation of 2.44, market risk adjusted performance of (0.11), and Risk Adjusted Performance of 0.0034 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Journey Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Journey Energy is expected to be smaller as well. At this point, Journey Energy has a negative expected return of -0.13%. Please make sure to check out Journey Energy's kurtosis, as well as the relationship between the day median price and relative strength index , to decide if Journey Energy performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.3 |
Weak reverse predictability
Journey Energy has weak reverse predictability. Overlapping area represents the amount of predictability between Journey Energy 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 Journey Energy price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current Journey Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | 0.51 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Journey Energy lagged returns against current returns
Autocorrelation, which is Journey 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 Journey Energy's stock expected returns. We can calculate the autocorrelation of Journey Energy returns to help us make a trade decision. For example, suppose you find that Journey 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 |
Journey 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 Journey Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Journey Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Journey Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Journey Energy Lagged Returns
When evaluating Journey Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Journey Energy stock have on its future price. Journey 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, Journey Energy autocorrelation shows the relationship between Journey Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Journey Energy.
Regressed Prices |
| Timeline |
Pair Trading with Journey 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 Journey 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 Journey Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Journey Stock
| 0.65 | ENS | E Split Corp | PairCorr |
| 0.62 | ENS-PA | E Split Corp | PairCorr |
| 0.55 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.53 | BUI | Buhler Industries | PairCorr |
The ability to find closely correlated positions to Journey 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 Journey 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 Journey 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 Journey Energy to buy it.
The correlation of Journey 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 Journey Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Journey 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 Journey 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 Journey Stock
Journey Energy financial ratios help investors to determine whether Journey 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 Journey with respect to the benefits of owning Journey Energy security.