29Metals (Australia) Market Value
| 29M Stock | 0.17 0.01 5.56% |
| Symbol | 29Metals |
29Metals '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 29Metals' 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 29Metals.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in 29Metals on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding 29Metals or generate 0.0% return on investment in 29Metals over 90 days. 29Metals is related to or competes with Ras Technology, Readytech Holdings, Austco Healthcare, Apiam Animal, Technology One, and Mach7 Technologies. 29Metals is entity of Australia. It is traded as Stock on AU exchange. More
29Metals 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 29Metals' 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 29Metals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 12.88 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 5.0 |
29Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 29Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 29Metals' standard deviation. In reality, there are many statistical measures that can use 29Metals historical prices to predict the future 29Metals' volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.56) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | (0.72) |
29Metals Backtested Returns
29Metals secures Sharpe Ratio (or Efficiency) of -0.18, which signifies that the company had a -0.18 % return per unit of price deviation over the last 3 months. 29Metals exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm 29Metals' Information Ratio of (0.17), mean deviation of 2.37, and Variance of 10.16 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.91, which signifies possible diversification benefits within a given portfolio. 29Metals returns are very sensitive to returns on the market. As the market goes up or down, 29Metals is expected to follow. At this point, 29Metals has a negative expected return of -0.57%. Please make sure to confirm 29Metals' coefficient of variation, information ratio, total risk alpha, as well as the relationship between the standard deviation and jensen alpha , to decide if 29Metals performance from the past will be repeated sooner or later.
Auto-correlation | 0.84 |
Very good predictability
29Metals has very good predictability. Overlapping area represents the amount of predictability between 29Metals time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of 29Metals price movement. The serial correlation of 0.84 indicates that around 84.0% of current 29Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
29Metals lagged returns against current returns
Autocorrelation, which is 29Metals 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 29Metals' stock expected returns. We can calculate the autocorrelation of 29Metals returns to help us make a trade decision. For example, suppose you find that 29Metals 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 |
29Metals 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 29Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 29Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 29Metals stock over time.
Current vs Lagged Prices |
| Timeline |
29Metals Lagged Returns
When evaluating 29Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 29Metals stock have on its future price. 29Metals 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, 29Metals autocorrelation shows the relationship between 29Metals stock current value and its past values and can show if there is a momentum factor associated with investing in 29Metals.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for 29Metals Stock Analysis
When running 29Metals' price analysis, check to measure 29Metals' 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 29Metals is operating at the current time. Most of 29Metals' value examination focuses on studying past and present price action to predict the probability of 29Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 29Metals' price. Additionally, you may evaluate how the addition of 29Metals to your portfolios can decrease your overall portfolio volatility.