Suncor Energy Stock Market Value
| SU Stock | CAD 55.71 0.06 0.11% |
| Symbol | Suncor |
Suncor Energy Price To Book Ratio
Suncor 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 Suncor 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 Suncor Energy.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Suncor Energy on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Suncor Energy or generate 0.0% return on investment in Suncor Energy over 30 days. Suncor Energy is related to or competes with Enbridge, Canadian Natural, Toronto Dominion, Bank of Nova Scotia, and Royal Bank. Suncor Energy Inc. operates as an integrated energy company More
Suncor 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 Suncor 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 Suncor Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.73 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 9.11 | |||
| Value At Risk | (2.56) | |||
| Potential Upside | 2.68 |
Suncor Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Suncor Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Suncor Energy's standard deviation. In reality, there are many statistical measures that can use Suncor Energy historical prices to predict the future Suncor Energy's volatility.| Risk Adjusted Performance | 0.0291 | |||
| Jensen Alpha | 0.0427 | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | (2.94) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Suncor Energy's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Suncor Energy Backtested Returns
As of now, Suncor Stock is very steady. Suncor Energy owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.048, which indicates the firm had a 0.048% return per unit of risk over the last 3 months. We have found thirty technical indicators for Suncor Energy, which you can use to evaluate the volatility of the company. Please validate Suncor Energy's Risk Adjusted Performance of 0.0291, semi deviation of 1.66, and Coefficient Of Variation of 3210.04 to confirm if the risk estimate we provide is consistent with the expected return of 0.0785%. Suncor Energy has a performance score of 3 on a scale of 0 to 100. The entity has a beta of -0.0139, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Suncor Energy are expected to decrease at a much lower rate. During the bear market, Suncor Energy is likely to outperform the market. Suncor Energy right now has a risk of 1.64%. Please validate Suncor Energy skewness, and the relationship between the value at risk and day median price , to decide if Suncor Energy will be following its existing price patterns.
Auto-correlation | -0.38 |
Poor reverse predictability
Suncor Energy has poor reverse predictability. Overlapping area represents the amount of predictability between Suncor Energy time series from 1st of November 2024 to 16th of November 2024 and 16th of November 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 Suncor Energy price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Suncor Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 0.77 |
Suncor Energy lagged returns against current returns
Autocorrelation, which is Suncor 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 Suncor Energy's stock expected returns. We can calculate the autocorrelation of Suncor Energy returns to help us make a trade decision. For example, suppose you find that Suncor 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 |
Suncor 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 Suncor Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Suncor Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Suncor Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Suncor Energy Lagged Returns
When evaluating Suncor Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Suncor Energy stock have on its future price. Suncor 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, Suncor Energy autocorrelation shows the relationship between Suncor Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Suncor Energy.
Regressed Prices |
| Timeline |
Pair Trading with Suncor 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 Suncor 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 Suncor Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Suncor Stock
Moving against Suncor Stock
The ability to find closely correlated positions to Suncor 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 Suncor 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 Suncor 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 Suncor Energy to buy it.
The correlation of Suncor 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 Suncor Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Suncor 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 Suncor 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.Check out Suncor Energy Correlation, Suncor Energy Volatility and Suncor Energy Alpha and Beta module to complement your research on Suncor Energy. To learn how to invest in Suncor Stock, please use our How to Invest in Suncor Energy guide.You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Suncor Energy technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.