Enlight Renewable Energy Stock Market Value
| ENLT Stock | 17.57 0.03 0.17% |
| Symbol | Enlight |
Enlight Renewable Energy Price To Book Ratio
Is Enlight Renewable's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Enlight Renewable. If investors know Enlight will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Enlight Renewable listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.30) | Earnings Share 0.51 | Revenue Per Share 2.334 | Quarterly Revenue Growth 0.273 | Return On Assets 0.0171 |
The market value of Enlight Renewable Energy is measured differently than its book value, which is the value of Enlight that is recorded on the company's balance sheet. Investors also form their own opinion of Enlight Renewable's value that differs from its market value or its book value, called intrinsic value, which is Enlight Renewable's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Enlight Renewable's market value can be influenced by many factors that don't directly affect Enlight Renewable's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Enlight Renewable's value and its price as these two are different measures arrived at by different means. Investors typically determine if Enlight Renewable is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Enlight Renewable's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Enlight Renewable '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 Enlight Renewable'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 Enlight Renewable.
| 03/05/2024 |
| 06/03/2024 |
If you would invest 0.00 in Enlight Renewable on March 5, 2024 and sell it all today you would earn a total of 0.00 from holding Enlight Renewable Energy or generate 0.0% return on investment in Enlight Renewable over 90 days. Enlight Renewable is related to or competes with Verde Clean, ReNew Energy, Eco Wave, Fluence Energy, Advent Technologies, and Algonquin Power. Enlight Renewable is entity of United States More
Enlight Renewable 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 Enlight Renewable'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 Enlight Renewable Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.01 | |||
| Information Ratio | 0.0305 | |||
| Maximum Drawdown | 11.68 | |||
| Value At Risk | (3.28) | |||
| Potential Upside | 3.96 |
Enlight Renewable Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Enlight Renewable's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Enlight Renewable's standard deviation. In reality, there are many statistical measures that can use Enlight Renewable historical prices to predict the future Enlight Renewable's volatility.| Risk Adjusted Performance | 0.0386 | |||
| Jensen Alpha | 0.055 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0351 | |||
| Treynor Ratio | 0.0735 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Enlight Renewable'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.
Enlight Renewable Energy Backtested Returns
We consider Enlight Renewable not too volatile. Enlight Renewable Energy secures Sharpe Ratio (or Efficiency) of 0.0364, which denotes the company had a 0.0364% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Enlight Renewable Energy, which you can use to evaluate the volatility of the firm. Please confirm Enlight Renewable's Mean Deviation of 1.7, coefficient of variation of 1998.89, and Downside Deviation of 2.01 to check if the risk estimate we provide is consistent with the expected return of 0.0837%. Enlight Renewable has a performance score of 2 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.44, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Enlight Renewable will likely underperform. Enlight Renewable Energy right now shows a risk of 2.3%. Please confirm Enlight Renewable Energy downside variance, and the relationship between the sortino ratio and accumulation distribution , to decide if Enlight Renewable Energy will be following its price patterns.
Auto-correlation | -0.3 |
Weak reverse predictability
Enlight Renewable Energy has weak reverse predictability. Overlapping area represents the amount of predictability between Enlight Renewable time series from 5th of March 2024 to 19th of April 2024 and 19th of April 2024 to 3rd of June 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 Enlight Renewable Energy price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current Enlight Renewable price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.75 |
Enlight Renewable Energy lagged returns against current returns
Autocorrelation, which is Enlight Renewable 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 Enlight Renewable's stock expected returns. We can calculate the autocorrelation of Enlight Renewable returns to help us make a trade decision. For example, suppose you find that Enlight Renewable 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 |
Enlight Renewable 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 Enlight Renewable stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Enlight Renewable stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Enlight Renewable stock over time.
Current vs Lagged Prices |
| Timeline |
Enlight Renewable Lagged Returns
When evaluating Enlight Renewable's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Enlight Renewable stock have on its future price. Enlight Renewable 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, Enlight Renewable autocorrelation shows the relationship between Enlight Renewable stock current value and its past values and can show if there is a momentum factor associated with investing in Enlight Renewable Energy.
Regressed Prices |
| Timeline |
Pair Trading with Enlight Renewable
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 Enlight Renewable 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 Enlight Renewable will appreciate offsetting losses from the drop in the long position's value.Moving against Enlight Stock
| 0.47 | HTOOW | Fusion Fuel Green | PairCorr |
The ability to find closely correlated positions to Enlight Renewable could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Enlight Renewable 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 Enlight Renewable - 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 Enlight Renewable Energy to buy it.
The correlation of Enlight Renewable 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 Enlight Renewable moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Enlight Renewable 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 Enlight Renewable 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 Enlight Renewable Correlation, Enlight Renewable Volatility and Enlight Renewable Alpha and Beta module to complement your research on Enlight Renewable. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for Enlight Stock analysis
When running Enlight Renewable's price analysis, check to measure Enlight Renewable'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 Enlight Renewable is operating at the current time. Most of Enlight Renewable's value examination focuses on studying past and present price action to predict the probability of Enlight Renewable's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Enlight Renewable's price. Additionally, you may evaluate how the addition of Enlight Renewable to your portfolios can decrease your overall portfolio volatility.
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Enlight Renewable 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.