Ninepoint Energy Income Etf Market Value
| NRGI Etf | 19.62 0.06 0.31% |
| Symbol | Ninepoint |
Please note, there is a significant difference between Ninepoint Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ninepoint Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ninepoint Energy's 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.
Ninepoint 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 Ninepoint Energy's 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 Ninepoint Energy.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Ninepoint Energy on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Ninepoint Energy Income or generate 0.0% return on investment in Ninepoint Energy over 180 days. Ninepoint Energy is related to or competes with Brompton Global, Global Healthcare, Tech Leaders, and Brompton North. Ninepoint Energy is entity of Canada. It is traded as Etf on NEO exchange. More
Ninepoint 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 Ninepoint Energy's 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 Ninepoint Energy Income upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 6.53 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 1.88 |
Ninepoint Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ninepoint Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ninepoint Energy's standard deviation. In reality, there are many statistical measures that can use Ninepoint Energy historical prices to predict the future Ninepoint Energy's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.82) |
Ninepoint Energy Income Backtested Returns
At this point, Ninepoint Energy is very steady. Ninepoint Energy Income has Sharpe Ratio of 0.0372, which conveys that the entity had a 0.0372% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for Ninepoint Energy, which you can use to evaluate the volatility of the etf. Please verify Ninepoint Energy's Standard Deviation of 1.37, mean deviation of 1.06, and Risk Adjusted Performance of (0.02) to check out if the risk estimate we provide is consistent with the expected return of 0.0489%. The etf secures a Beta (Market Risk) of 0.0558, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Ninepoint Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Ninepoint Energy is expected to be smaller as well.
Auto-correlation | -0.23 |
Weak reverse predictability
Ninepoint Energy Income has weak reverse predictability. Overlapping area represents the amount of predictability between Ninepoint Energy time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 2024 to 1st 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 Ninepoint Energy Income price movement. The serial correlation of -0.23 indicates that over 23.0% of current Ninepoint Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Ninepoint Energy Income lagged returns against current returns
Autocorrelation, which is Ninepoint Energy 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 Ninepoint Energy's etf expected returns. We can calculate the autocorrelation of Ninepoint Energy returns to help us make a trade decision. For example, suppose you find that Ninepoint Energy 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 |
Ninepoint 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 Ninepoint Energy etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ninepoint Energy etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ninepoint Energy etf over time.
Current vs Lagged Prices |
| Timeline |
Ninepoint Energy Lagged Returns
When evaluating Ninepoint Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ninepoint Energy etf have on its future price. Ninepoint 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, Ninepoint Energy autocorrelation shows the relationship between Ninepoint Energy etf current value and its past values and can show if there is a momentum factor associated with investing in Ninepoint Energy Income.
Regressed Prices |
| Timeline |
Pair Trading with Ninepoint 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 Ninepoint 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 Ninepoint Energy will appreciate offsetting losses from the drop in the long position's value.Moving against Ninepoint Etf
| 0.66 | CLF | iShares 1 5 | PairCorr |
| 0.62 | VGV | Vanguard Canadian | PairCorr |
| 0.61 | TCLB | TD Canadian Long | PairCorr |
| 0.61 | HBB | Global X Canadian | PairCorr |
| 0.6 | ZAG | BMO Aggregate Bond | PairCorr |
The ability to find closely correlated positions to Ninepoint 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 Ninepoint 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 Ninepoint 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 Ninepoint Energy Income to buy it.
The correlation of Ninepoint 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 Ninepoint Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ninepoint Energy Income 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 Ninepoint 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 Ninepoint Etf
Ninepoint Energy financial ratios help investors to determine whether Ninepoint 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 Ninepoint with respect to the benefits of owning Ninepoint Energy security.