Agnico Eagle Mines Stock Market Value
| AEM Stock | CAD 118.06 0.99 0.85% |
| Symbol | Agnico |
Agnico Eagle Mines Price To Book Ratio
Agnico Eagle '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 Agnico Eagle'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 Agnico Eagle.
| 06/02/2024 |
| 11/29/2024 |
If you would invest 0.00 in Agnico Eagle on June 2, 2024 and sell it all today you would earn a total of 0.00 from holding Agnico Eagle Mines or generate 0.0% return on investment in Agnico Eagle over 180 days. Agnico Eagle is related to or competes with Franco Nevada, Kinross Gold, Barrick Gold, Wheaton Precious, and Eldorado Gold. Agnico Eagle Mines Limited engages in the exploration, development, and production of mineral properties in Canada, Mexi... More
Agnico Eagle 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 Agnico Eagle'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 Agnico Eagle Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 11.65 | |||
| Value At Risk | (2.37) | |||
| Potential Upside | 3.56 |
Agnico Eagle Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Agnico Eagle's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Agnico Eagle's standard deviation. In reality, there are many statistical measures that can use Agnico Eagle historical prices to predict the future Agnico Eagle's volatility.| Risk Adjusted Performance | 0.0527 | |||
| Jensen Alpha | 0.0575 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.2575 |
Agnico Eagle Mines Backtested Returns
As of now, Agnico Stock is very steady. Agnico Eagle Mines secures Sharpe Ratio (or Efficiency) of 0.0955, which signifies that the company had a 0.0955% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Agnico Eagle Mines, which you can use to evaluate the volatility of the firm. Please confirm Agnico Eagle's Mean Deviation of 1.38, risk adjusted performance of 0.0527, and Downside Deviation of 1.78 to double-check if the risk estimate we provide is consistent with the expected return of 0.18%. Agnico Eagle has a performance score of 7 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.4, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Agnico Eagle's returns are expected to increase less than the market. However, during the bear market, the loss of holding Agnico Eagle is expected to be smaller as well. Agnico Eagle Mines right now shows a risk of 1.87%. Please confirm Agnico Eagle Mines jensen alpha, potential upside, accumulation distribution, as well as the relationship between the treynor ratio and expected short fall , to decide if Agnico Eagle Mines will be following its price patterns.
Auto-correlation | 0.49 |
Average predictability
Agnico Eagle Mines has average predictability. Overlapping area represents the amount of predictability between Agnico Eagle time series from 2nd of June 2024 to 31st of August 2024 and 31st of August 2024 to 29th of November 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 Agnico Eagle Mines price movement. The serial correlation of 0.49 indicates that about 49.0% of current Agnico Eagle price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.49 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 27.32 |
Agnico Eagle Mines lagged returns against current returns
Autocorrelation, which is Agnico Eagle 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 Agnico Eagle's stock expected returns. We can calculate the autocorrelation of Agnico Eagle returns to help us make a trade decision. For example, suppose you find that Agnico Eagle 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 |
Agnico Eagle 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 Agnico Eagle stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Agnico Eagle stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Agnico Eagle stock over time.
Current vs Lagged Prices |
| Timeline |
Agnico Eagle Lagged Returns
When evaluating Agnico Eagle's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Agnico Eagle stock have on its future price. Agnico Eagle 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, Agnico Eagle autocorrelation shows the relationship between Agnico Eagle stock current value and its past values and can show if there is a momentum factor associated with investing in Agnico Eagle Mines.
Regressed Prices |
| Timeline |
Pair Trading with Agnico Eagle
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 Agnico Eagle 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 Agnico Eagle will appreciate offsetting losses from the drop in the long position's value.Moving together with Agnico Stock
Moving against Agnico Stock
The ability to find closely correlated positions to Agnico Eagle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Agnico Eagle 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 Agnico Eagle - 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 Agnico Eagle Mines to buy it.
The correlation of Agnico Eagle 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 Agnico Eagle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agnico Eagle Mines 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 Agnico Eagle 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 Agnico Eagle Correlation, Agnico Eagle Volatility and Agnico Eagle Alpha and Beta module to complement your research on Agnico Eagle. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Agnico Eagle 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.