First Majestic Silver Stock Market Value
| AG Stock | 8.35 0.33 3.80% |
| Symbol | First |
First Majestic Silver Price To Book Ratio
First Majestic '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 First Majestic'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 First Majestic.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in First Majestic on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding First Majestic Silver or generate 0.0% return on investment in First Majestic over 720 days. First Majestic is related to or competes with Precious Metals, Thunderbird Entertainment, CNJ Capital, Arbor Metals, Atrium Mortgage, Bip Investment, and Osisko Metals. First Majestic is entity of Canada. It is traded as Stock on TO exchange. More
First Majestic 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 First Majestic'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 First Majestic Silver upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.11 | |||
| Information Ratio | 0.0422 | |||
| Maximum Drawdown | 19.85 | |||
| Value At Risk | (4.50) | |||
| Potential Upside | 6.12 |
First Majestic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First Majestic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First Majestic's standard deviation. In reality, there are many statistical measures that can use First Majestic historical prices to predict the future First Majestic's volatility.| Risk Adjusted Performance | 0.0672 | |||
| Jensen Alpha | 0.1546 | |||
| Total Risk Alpha | (0.36) | |||
| Sortino Ratio | 0.0533 | |||
| Treynor Ratio | 0.2699 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of First Majestic'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.
First Majestic Silver Backtested Returns
First Majestic appears to be slightly risky, given 3 months investment horizon. First Majestic Silver secures Sharpe Ratio (or Efficiency) of 0.0808, which denotes the company had a 0.0808% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for First Majestic Silver, which you can use to evaluate the volatility of the firm. Please utilize First Majestic's Downside Deviation of 3.11, coefficient of variation of 1293.04, and Mean Deviation of 2.86 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, First Majestic holds a performance score of 6. The firm shows a Beta (market volatility) of 1.09, which means a somewhat significant risk relative to the market. First Majestic returns are very sensitive to returns on the market. As the market goes up or down, First Majestic is expected to follow. Please check First Majestic's downside variance, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether First Majestic's price patterns will revert.
Auto-correlation | -0.3 |
Weak reverse predictability
First Majestic Silver has weak reverse predictability. Overlapping area represents the amount of predictability between First Majestic time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd of December 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 First Majestic Silver price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current First Majestic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 1.65 |
First Majestic Silver lagged returns against current returns
Autocorrelation, which is First Majestic 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 First Majestic's stock expected returns. We can calculate the autocorrelation of First Majestic returns to help us make a trade decision. For example, suppose you find that First Majestic 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 |
First Majestic 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 First Majestic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First Majestic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First Majestic stock over time.
Current vs Lagged Prices |
| Timeline |
First Majestic Lagged Returns
When evaluating First Majestic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First Majestic stock have on its future price. First Majestic 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, First Majestic autocorrelation shows the relationship between First Majestic stock current value and its past values and can show if there is a momentum factor associated with investing in First Majestic Silver.
Regressed Prices |
| Timeline |
Pair Trading with First Majestic
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 First Majestic 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 First Majestic will appreciate offsetting losses from the drop in the long position's value.Moving together with First Stock
The ability to find closely correlated positions to First Majestic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Majestic 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 First Majestic - 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 First Majestic Silver to buy it.
The correlation of First Majestic 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 First Majestic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Majestic Silver 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 First Majestic 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 First Majestic Correlation, First Majestic Volatility and First Majestic Alpha and Beta module to complement your research on First Majestic. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
First Majestic 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.