Newjersey Resources Stock Market Value
| NJR Stock | USD 48.73 0.20 0.41% |
| Symbol | NewJersey |
NewJersey Resources Price To Book Ratio
Is Gas Utilities space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of NewJersey Resources. If investors know NewJersey will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about NewJersey Resources listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.88) | Earnings Share 2.92 | Revenue Per Share 17.639 | Quarterly Revenue Growth 0.23 | Return On Assets 0.0359 |
The market value of NewJersey Resources is measured differently than its book value, which is the value of NewJersey that is recorded on the company's balance sheet. Investors also form their own opinion of NewJersey Resources' value that differs from its market value or its book value, called intrinsic value, which is NewJersey Resources' 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 NewJersey Resources' market value can be influenced by many factors that don't directly affect NewJersey Resources' 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 NewJersey Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if NewJersey Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NewJersey Resources' 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.
NewJersey Resources '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 NewJersey Resources' 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 NewJersey Resources.
| 12/17/2023 |
| 12/11/2024 |
If you would invest 0.00 in NewJersey Resources on December 17, 2023 and sell it all today you would earn a total of 0.00 from holding NewJersey Resources or generate 0.0% return on investment in NewJersey Resources over 360 days. NewJersey Resources is related to or competes with Atmos Energy, UGI, Chesapeake Utilities, Spire, One Gas, RGC Resources, and NiSource. New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail an... More
NewJersey Resources 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 NewJersey Resources' 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 NewJersey Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.9237 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 4.36 | |||
| Value At Risk | (1.40) | |||
| Potential Upside | 2.21 |
NewJersey Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewJersey Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewJersey Resources' standard deviation. In reality, there are many statistical measures that can use NewJersey Resources historical prices to predict the future NewJersey Resources' volatility.| Risk Adjusted Performance | 0.0701 | |||
| Jensen Alpha | 0.0086 | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.1264 |
NewJersey Resources Backtested Returns
Currently, NewJersey Resources is very steady. NewJersey Resources has Sharpe Ratio of 0.0891, which conveys that the firm had a 0.0891% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for NewJersey Resources, which you can use to evaluate the volatility of the firm. Please verify NewJersey Resources' Mean Deviation of 0.8802, risk adjusted performance of 0.0701, and Downside Deviation of 0.9237 to check out if the risk estimate we provide is consistent with the expected return of 0.0958%. NewJersey Resources has a performance score of 7 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.72, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NewJersey Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding NewJersey Resources is expected to be smaller as well. NewJersey Resources right now secures a risk of 1.08%. Please verify NewJersey Resources downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to decide if NewJersey Resources will be following its current price movements.
Auto-correlation | -0.02 |
Very weak reverse predictability
NewJersey Resources has very weak reverse predictability. Overlapping area represents the amount of predictability between NewJersey Resources time series from 17th of December 2023 to 14th of June 2024 and 14th of June 2024 to 11th 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 NewJersey Resources price movement. The serial correlation of -0.02 indicates that only 2.0% of current NewJersey Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.02 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 5.34 |
NewJersey Resources lagged returns against current returns
Autocorrelation, which is NewJersey Resources 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 NewJersey Resources' stock expected returns. We can calculate the autocorrelation of NewJersey Resources returns to help us make a trade decision. For example, suppose you find that NewJersey Resources 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 |
NewJersey Resources 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 NewJersey Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewJersey Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewJersey Resources stock over time.
Current vs Lagged Prices |
| Timeline |
NewJersey Resources Lagged Returns
When evaluating NewJersey Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewJersey Resources stock have on its future price. NewJersey Resources 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, NewJersey Resources autocorrelation shows the relationship between NewJersey Resources stock current value and its past values and can show if there is a momentum factor associated with investing in NewJersey Resources.
Regressed Prices |
| Timeline |
Pair Trading with NewJersey Resources
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 NewJersey Resources 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 NewJersey Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with NewJersey Stock
| 0.87 | NI | NiSource | PairCorr |
| 0.96 | SR | Spire Inc | PairCorr |
| 0.81 | ATO | Atmos Energy | PairCorr |
| 0.94 | BKH | Black Hills | PairCorr |
| 0.95 | CPK | Chesapeake Utilities | PairCorr |
Moving against NewJersey Stock
The ability to find closely correlated positions to NewJersey Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NewJersey Resources 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 NewJersey Resources - 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 NewJersey Resources to buy it.
The correlation of NewJersey Resources 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 NewJersey Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NewJersey Resources 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 NewJersey Resources 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.Additional Tools for NewJersey Stock Analysis
When running NewJersey Resources' price analysis, check to measure NewJersey Resources' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy NewJersey Resources is operating at the current time. Most of NewJersey Resources' value examination focuses on studying past and present price action to predict the probability of NewJersey Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NewJersey Resources' price. Additionally, you may evaluate how the addition of NewJersey Resources to your portfolios can decrease your overall portfolio volatility.