ELEMENT 29's market value is the price at which a share of ELEMENT 29 trades on a public exchange. It measures the collective expectations of ELEMENT 29 RESOURCES investors about its performance. ELEMENT 29 is trading at 0.35 as of the 7th of January 2025. This is a 14.63 percent decrease since the beginning of the trading day. The stock's lowest day price was 0.35. With this module, you can estimate the performance of a buy and hold strategy of ELEMENT 29 RESOURCES and determine expected loss or profit from investing in ELEMENT 29 over a given investment horizon. Check out ELEMENT 29 Correlation, ELEMENT 29 Volatility and ELEMENT 29 Alpha and Beta module to complement your research on ELEMENT 29.
Please note, there is a significant difference between ELEMENT 29's value and its price as these two are different measures arrived at by different means. Investors typically determine if ELEMENT 29 is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ELEMENT 29'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.
ELEMENT 29 '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 ELEMENT 29'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 ELEMENT 29.
0.00
12/08/2024
No Change 0.00
0.0
In 31 days
01/07/2025
0.00
If you would invest 0.00 in ELEMENT 29 on December 8, 2024 and sell it all today you would earn a total of 0.00 from holding ELEMENT 29 RESOURCES or generate 0.0% return on investment in ELEMENT 29 over 30 days. ELEMENT 29 is related to or competes with WisdomTree Investments, FLOW TRADERS, Scottish Mortgage, Tradeweb Markets, New Residential, TRADELINK ELECTRON, and Tradegate. Element 29 Resources Inc. acquires, explores for, evaluates, and develops mineral properties in Peru More
ELEMENT 29 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 ELEMENT 29'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 ELEMENT 29 RESOURCES upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for ELEMENT 29's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ELEMENT 29's standard deviation. In reality, there are many statistical measures that can use ELEMENT 29 historical prices to predict the future ELEMENT 29's volatility.
ELEMENT 29 is out of control given 3 months investment horizon. ELEMENT 29 RESOURCES secures Sharpe Ratio (or Efficiency) of 0.19, which denotes the company had a 0.19% return per unit of return volatility over the last 3 months. We were able to interpolate twenty-seven different technical indicators, which can help you to evaluate if expected returns of 2.23% are justified by taking the suggested risk. Use ELEMENT 29 mean deviation of 6.69, and Downside Deviation of 7.11 to evaluate company specific risk that cannot be diversified away. ELEMENT 29 holds a performance score of 15 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -2.44, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning ELEMENT 29 are expected to decrease by larger amounts. On the other hand, during market turmoil, ELEMENT 29 is expected to outperform it. Use ELEMENT 29 semi deviation, coefficient of variation, and the relationship between the mean deviation and downside deviation , to analyze future returns on ELEMENT 29.
Auto-correlation
0.17
Very weak predictability
ELEMENT 29 RESOURCES has very weak predictability. Overlapping area represents the amount of predictability between ELEMENT 29 time series from 8th of December 2024 to 23rd of December 2024 and 23rd of December 2024 to 7th of January 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 ELEMENT 29 RESOURCES price movement. The serial correlation of 0.17 indicates that over 17.0% of current ELEMENT 29 price fluctuation can be explain by its past prices.
Correlation Coefficient
0.17
Spearman Rank Test
0.39
Residual Average
0.0
Price Variance
0.0
ELEMENT 29 RESOURCES lagged returns against current returns
Autocorrelation, which is ELEMENT 29 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 ELEMENT 29's stock expected returns. We can calculate the autocorrelation of ELEMENT 29 returns to help us make a trade decision. For example, suppose you find that ELEMENT 29 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
ELEMENT 29 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 ELEMENT 29 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ELEMENT 29 stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ELEMENT 29 stock over time.
Current vs Lagged Prices
Timeline
ELEMENT 29 Lagged Returns
When evaluating ELEMENT 29's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ELEMENT 29 stock have on its future price. ELEMENT 29 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, ELEMENT 29 autocorrelation shows the relationship between ELEMENT 29 stock current value and its past values and can show if there is a momentum factor associated with investing in ELEMENT 29 RESOURCES.
ELEMENT 29 financial ratios help investors to determine whether ELEMENT Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in ELEMENT with respect to the benefits of owning ELEMENT 29 security.