Obsidian Energy Correlations
| OBE Stock | CAD 12.01 0.22 1.87% |
The correlation of Obsidian 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 Obsidian Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Obsidian 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.
Good diversification
The correlation between Obsidian Energy and NYA is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Obsidian Energy and NYA in the same portfolio, assuming nothing else is changed.
Obsidian |
The ability to find closely correlated positions to Obsidian 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 Obsidian 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 Obsidian 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 Obsidian Energy to buy it.
Moving together with Obsidian Stock
| 0.86 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.71 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.85 | BRC | Blackrock Silver Corp | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Obsidian Stock performing well and Obsidian Energy 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 Obsidian Energy's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BNE | 1.80 | 0.41 | 0.18 | 2.19 | 1.72 | 5.14 | 9.51 | |||
| CJ | 0.89 | 0.24 | 0.18 | 2.67 | 0.66 | 1.74 | 4.38 | |||
| CR | 1.82 | 0.10 | 0.02 | 0.39 | 1.86 | 4.50 | 9.94 | |||
| SGY | 1.43 | 0.37 | 0.17 | (2.14) | 1.41 | 3.74 | 9.79 | |||
| IPO | 1.25 | 0.12 | 0.06 | 0.27 | 1.19 | 2.91 | 8.62 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Obsidian Energy 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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Obsidian Energy Corporate Directors
Obsidian Energy corporate directors refer to members of an Obsidian Energy board of directors. The board of directors generally takes responsibility for the Obsidian Energy's 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 Obsidian Energy's board members must vote for the resolution. The Obsidian Energy board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| John Brydson | Independent Director | Profile | |
| William Friley | Independent Director | Profile | |
| Maureen Jackson | Independent Director | Profile | |
| Raymond Crossley | Independent Director | Profile |
Already Invested in Obsidian Energy?
The danger of trading Obsidian Energy 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 Obsidian Energy 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 Obsidian Energy. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Obsidian Energy 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 Obsidian Energy is a strong investment it is important to analyze Obsidian Energy's 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 Obsidian Energy's future performance. For an informed investment choice regarding Obsidian Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Obsidian Energy. 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 Obsidian Stock, please use our How to Invest in Obsidian Energy guide.Note that the Obsidian Energy information on this page should be used as a complementary analysis to other Obsidian Energy's 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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for Obsidian Stock analysis
When running Obsidian Energy's price analysis, check to measure Obsidian Energy's 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 Obsidian Energy is operating at the current time. Most of Obsidian Energy's value examination focuses on studying past and present price action to predict the probability of Obsidian Energy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Obsidian Energy's price. Additionally, you may evaluate how the addition of Obsidian Energy to your portfolios can decrease your overall portfolio volatility.
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