Eversource Energy Stock Market Value
| ES Stock | USD 61.92 0.16 0.26% |
| Symbol | Eversource |
Eversource Energy Price To Book Ratio
Is Eversource Energy'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 Eversource Energy. If investors know Eversource 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 Eversource Energy 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 0.058 | Dividend Share 2.74 | Earnings Share (1.19) | Revenue Per Share 32.712 | Quarterly Revenue Growth (0.12) |
The market value of Eversource Energy is measured differently than its book value, which is the value of Eversource that is recorded on the company's balance sheet. Investors also form their own opinion of Eversource Energy's value that differs from its market value or its book value, called intrinsic value, which is Eversource Energy'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 Eversource Energy's market value can be influenced by many factors that don't directly affect Eversource Energy'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 Eversource Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eversource Energy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eversource Energy'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.
Eversource 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 Eversource 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 Eversource Energy.
| 04/11/2024 |
| 05/11/2024 |
If you would invest 0.00 in Eversource Energy on April 11, 2024 and sell it all today you would earn a total of 0.00 from holding Eversource Energy or generate 0.0% return on investment in Eversource Energy over 30 days. Eversource Energy is related to or competes with Centrais Eltricas, and Entergy Texas. Eversource Energy, a public utility holding company, engages in the energy delivery business More
Eversource 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 Eversource 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 Eversource Energy upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.33 | |||
| Information Ratio | 0.1036 | |||
| Maximum Drawdown | 6.99 | |||
| Value At Risk | (2.10) | |||
| Potential Upside | 2.73 |
Eversource Energy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eversource Energy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eversource Energy's standard deviation. In reality, there are many statistical measures that can use Eversource Energy historical prices to predict the future Eversource Energy's volatility.| Risk Adjusted Performance | 0.1036 | |||
| Jensen Alpha | 0.2281 | |||
| Total Risk Alpha | 0.0501 | |||
| Sortino Ratio | 0.1185 | |||
| Treynor Ratio | 5.62 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Eversource Energy'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.
Eversource Energy Backtested Returns
Eversource Energy appears to be very steady, given 3 months investment horizon. Eversource Energy secures Sharpe Ratio (or Efficiency) of 0.13, which denotes the company had a 0.13% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Eversource Energy, which you can use to evaluate the volatility of the firm. Please utilize Eversource Energy's Downside Deviation of 1.33, coefficient of variation of 632.0, and Mean Deviation of 1.2 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Eversource Energy holds a performance score of 10. The firm shows a Beta (market volatility) of 0.0411, which means not very significant fluctuations relative to the market. As returns on the market increase, Eversource Energy's returns are expected to increase less than the market. However, during the bear market, the loss of holding Eversource Energy is expected to be smaller as well. Please check Eversource Energy's value at risk, and the relationship between the jensen alpha and skewness , to make a quick decision on whether Eversource Energy's price patterns will revert.
Auto-correlation | 0.23 |
Weak predictability
Eversource Energy has weak predictability. Overlapping area represents the amount of predictability between Eversource Energy time series from 11th of April 2024 to 26th of April 2024 and 26th of April 2024 to 11th of May 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 Eversource Energy price movement. The serial correlation of 0.23 indicates that over 23.0% of current Eversource Energy price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.23 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 0.62 |
Eversource Energy lagged returns against current returns
Autocorrelation, which is Eversource 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 Eversource Energy's stock expected returns. We can calculate the autocorrelation of Eversource Energy returns to help us make a trade decision. For example, suppose you find that Eversource 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 |
Eversource 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 Eversource Energy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eversource Energy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eversource Energy stock over time.
Current vs Lagged Prices |
| Timeline |
Eversource Energy Lagged Returns
When evaluating Eversource Energy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eversource Energy stock have on its future price. Eversource 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, Eversource Energy autocorrelation shows the relationship between Eversource Energy stock current value and its past values and can show if there is a momentum factor associated with investing in Eversource Energy.
Regressed Prices |
| Timeline |
Pair Trading with Eversource Energy
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 Eversource Energy 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 Eversource Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Eversource Stock
| 0.83 | D | Dominion Energy | PairCorr |
| 0.69 | ED | Consolidated Edison | PairCorr |
| 0.72 | FE | FirstEnergy | PairCorr |
Moving against Eversource Stock
| 0.71 | HE | Hawaiian Electric Financial Report 14th of May 2024 | PairCorr |
| 0.6 | CMS-PC | CMS Energy | PairCorr |
The ability to find closely correlated positions to Eversource 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 Eversource 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 Eversource 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 Eversource Energy to buy it.
The correlation of Eversource 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 Eversource Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eversource 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 Eversource Energy 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 Eversource Energy Correlation, Eversource Energy Volatility and Eversource Energy Alpha and Beta module to complement your research on Eversource Energy. For more information on how to buy Eversource Stock please use our How to Invest in Eversource Energy guide.You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Complementary Tools for Eversource Stock analysis
When running Eversource Energy's price analysis, check to measure Eversource 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 Eversource Energy is operating at the current time. Most of Eversource Energy's value examination focuses on studying past and present price action to predict the probability of Eversource 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 Eversource Energy's price. Additionally, you may evaluate how the addition of Eversource Energy to your portfolios can decrease your overall portfolio volatility.
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Eversource Energy 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.