Western Energy Services Stock Market Value
| WRG Stock | CAD 2.67 0.02 0.74% |
| Symbol | Western |
Western Energy Services Price To Book Ratio
Western 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 Western 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 Western Energy.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in Western Energy on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding Western Energy Services or generate 0.0% return on investment in Western Energy over 90 days. Western Energy is related to or competes with Total Energy, PHX Energy, and Calfrac Well. Western Energy Services Corp. operates as an oilfield service company in Canada and the United States More
Western 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 Western 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 Western Energy Services upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 14.69 | |||
| Value At Risk | (6.25) | |||
| Potential Upside | 4.73 |
Western Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Energy's standard deviation. In reality, there are many statistical measures that can use Western Energy historical prices to predict the future Western Energy's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | (2.89) |
Western Energy Services Backtested Returns
Western Energy Services shows Sharpe Ratio of -0.0759, which attests that the company had a -0.0759% return per unit of risk over the last 3 months. Western Energy Services exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Western Energy's Standard Deviation of 3.02, mean deviation of 1.72, and Market Risk Adjusted Performance of (2.88) to validate the risk estimate we provide. The firm maintains a market beta of 0.054, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Western Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Western Energy is expected to be smaller as well. At this point, Western Energy Services has a negative expected return of -0.23%. Please make sure to check out Western Energy's maximum drawdown, daily balance of power, as well as the relationship between the Daily Balance Of Power and price action indicator , to decide if Western Energy Services performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.64 |
Good predictability
Western Energy Services has good predictability. Overlapping area represents the amount of predictability between Western Energy time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 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 Western Energy Services price movement. The serial correlation of 0.64 indicates that roughly 64.0% of current Western Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.64 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Western Energy Services lagged returns against current returns
Autocorrelation, which is Western 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 Western Energy's stock expected returns. We can calculate the autocorrelation of Western Energy returns to help us make a trade decision. For example, suppose you find that Western 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 |
Western 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 Western Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Western Energy Lagged Returns
When evaluating Western Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Energy stock have on its future price. Western 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, Western Energy autocorrelation shows the relationship between Western Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Western Energy Services.
Regressed Prices |
| Timeline |
Other Information on Investing in Western Stock
Western Energy financial ratios help investors to determine whether Western 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 Western with respect to the benefits of owning Western Energy security.