Pnm Resources Stock Market Value
| PNM Stock | USD 38.34 0.98 2.62% |
| Symbol | PNM |
PNM Resources Price To Book Ratio
Is PNM Resources' 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 PNM Resources. If investors know PNM 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 PNM Resources 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 (0.19) | Dividend Share 1.51 | Earnings Share 0.9 | Revenue Per Share 20.963 | Quarterly Revenue Growth (0.20) |
The market value of PNM Resources is measured differently than its book value, which is the value of PNM that is recorded on the company's balance sheet. Investors also form their own opinion of PNM Resources' value that differs from its market value or its book value, called intrinsic value, which is PNM Resources' 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 PNM Resources' market value can be influenced by many factors that don't directly affect PNM Resources' 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 PNM Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if PNM Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, PNM Resources' 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.
PNM Resources '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 PNM Resources' 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 PNM Resources.
| 03/04/2024 |
| 06/02/2024 |
If you would invest 0.00 in PNM Resources on March 4, 2024 and sell it all today you would earn a total of 0.00 from holding PNM Resources or generate 0.0% return on investment in PNM Resources over 90 days. PNM Resources is related to or competes with Consumers Energy, Ameren Corp, CMS Energy, and DTE Energy. PNM Resources, Inc., through its subsidiaries, provides electricity and electric services in the United States More
PNM Resources 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 PNM Resources' 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 PNM Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.26 | |||
| Information Ratio | 0.0055 | |||
| Maximum Drawdown | 5.87 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 2.04 |
PNM Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PNM Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PNM Resources' standard deviation. In reality, there are many statistical measures that can use PNM Resources historical prices to predict the future PNM Resources' volatility.| Risk Adjusted Performance | 0.0333 | |||
| Jensen Alpha | 0.0108 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0049 | |||
| Treynor Ratio | 0.0477 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of PNM Resources' 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.
PNM Resources Backtested Returns
We consider PNM Resources very steady. PNM Resources maintains Sharpe Ratio (i.e., Efficiency) of 0.0406, which implies the firm had a 0.0406% return per unit of volatility over the last 3 months. We have found thirty technical indicators for PNM Resources, which you can use to evaluate the volatility of the company. Please check PNM Resources' semi deviation of 1.12, and Risk Adjusted Performance of 0.0333 to confirm if the risk estimate we provide is consistent with the expected return of 0.0403%. PNM Resources has a performance score of 3 on a scale of 0 to 100. The company holds a Beta of 0.87, which implies possible diversification benefits within a given portfolio. PNM Resources returns are very sensitive to returns on the market. As the market goes up or down, PNM Resources is expected to follow. PNM Resources currently holds a risk of 0.99%. Please check PNM Resources expected short fall, and the relationship between the maximum drawdown and rate of daily change , to decide if PNM Resources will be following its historical price patterns.
Auto-correlation | -0.32 |
Poor reverse predictability
PNM Resources has poor reverse predictability. Overlapping area represents the amount of predictability between PNM Resources time series from 4th of March 2024 to 18th of April 2024 and 18th of April 2024 to 2nd 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 PNM Resources price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current PNM Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | -0.31 | |
| Residual Average | 0.0 | |
| Price Variance | 0.77 |
PNM Resources lagged returns against current returns
Autocorrelation, which is PNM Resources 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 PNM Resources' stock expected returns. We can calculate the autocorrelation of PNM Resources returns to help us make a trade decision. For example, suppose you find that PNM Resources 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 |
PNM Resources 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 PNM Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PNM Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PNM Resources stock over time.
Current vs Lagged Prices |
| Timeline |
PNM Resources Lagged Returns
When evaluating PNM Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PNM Resources stock have on its future price. PNM Resources 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, PNM Resources autocorrelation shows the relationship between PNM Resources stock current value and its past values and can show if there is a momentum factor associated with investing in PNM Resources.
Regressed Prices |
| Timeline |
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Check out PNM Resources Correlation, PNM Resources Volatility and PNM Resources Alpha and Beta module to complement your research on PNM Resources. To learn how to invest in PNM Stock, please use our How to Invest in PNM Resources guide.You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for PNM Stock analysis
When running PNM Resources' price analysis, check to measure PNM Resources' 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 PNM Resources is operating at the current time. Most of PNM Resources' value examination focuses on studying past and present price action to predict the probability of PNM Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PNM Resources' price. Additionally, you may evaluate how the addition of PNM Resources to your portfolios can decrease your overall portfolio volatility.
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PNM Resources 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.