Enerplus Correlations
| ERF Stock | CAD 28.06 0.15 0.54% |
The correlation of Enerplus 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 Enerplus moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enerplus 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.
Significant diversification
The correlation between Enerplus and NYA is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Enerplus and NYA in the same portfolio, assuming nothing else is changed.
Enerplus |
The ability to find closely correlated positions to Enerplus could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enerplus 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 Enerplus - 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 Enerplus to buy it.
Moving together with Enerplus Stock
| 0.92 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.8 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.61 | ENS-PA | E Split Corp | PairCorr |
| 0.82 | BRC | Blackrock Silver Corp Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Enerplus Stock performing well and Enerplus Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Enerplus' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ARX | 1.25 | 0.35 | 0.24 | (17.07) | 0.84 | 3.06 | 6.90 | |||
| MEG | 1.34 | 0.46 | 0.21 | 22.37 | 1.43 | 3.42 | 9.45 | |||
| TVE | 1.50 | 0.37 | 0.17 | (15.51) | 1.35 | 3.67 | 7.41 | |||
| WCP | 1.13 | 0.42 | 0.26 | (1.11) | 0.79 | 2.70 | 6.22 | |||
| NVA | 1.36 | 0.29 | 0.10 | (0.87) | 1.71 | 2.75 | 8.73 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Enerplus without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Enerplus Corporate Directors
Enerplus corporate directors refer to members of an Enerplus board of directors. The board of directors generally takes responsibility for the Enerplus' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Enerplus' board members must vote for the resolution. The Enerplus board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Jeffrey Sheets | Independent Director | Profile | |
| Susan MacKenzie | Independent Director | Profile | |
| Robert Hodgins | Independent Director | Profile | |
| Sheldon Steeves | Independent Director | Profile |
Already Invested in Enerplus?
The danger of trading Enerplus is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Enerplus is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Enerplus. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Enerplus is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Enerplus is a strong investment it is important to analyze Enerplus' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Enerplus' future performance. For an informed investment choice regarding Enerplus Stock, refer to the following important reports: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Enerplus. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in Enerplus Stock, please use our How to Invest in Enerplus guide.Note that the Enerplus information on this page should be used as a complementary analysis to other Enerplus' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for Enerplus Stock analysis
When running Enerplus' price analysis, check to measure Enerplus' 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 Enerplus is operating at the current time. Most of Enerplus' value examination focuses on studying past and present price action to predict the probability of Enerplus' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enerplus' price. Additionally, you may evaluate how the addition of Enerplus to your portfolios can decrease your overall portfolio volatility.
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