Enerplus Inventory Turnover vs Invested Capital Analysis
Pair Trading with Enerplus
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 Enerplus 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 Enerplus will appreciate offsetting losses from the drop in the long position's value.Moving together with Enerplus Stock
| 0.75 | ENB-PFC | Enbridge Pref 11 | PairCorr |
| 0.63 | ENB-PFU | Enbridge Pref L | PairCorr |
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.
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.
Correlation analysis and pair trading evaluation for Enerplus 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 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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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