Ascendant Resources Stock Market Value
| ASND Stock | CAD 0.05 0.01 25.00% |
| Symbol | Ascendant |
Ascendant Resources Price To Book Ratio
Ascendant 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 Ascendant 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 Ascendant Resources.
| 01/01/2023 |
| 12/21/2024 |
If you would invest 0.00 in Ascendant Resources on January 1, 2023 and sell it all today you would earn a total of 0.00 from holding Ascendant Resources or generate 0.0% return on investment in Ascendant Resources over 720 days. Ascendant Resources is related to or competes with Titan Mining, Fireweed Zinc, Excelsior Mining, SolGold PLC, and Silver Bull. Ascendant Resources Inc. explores for and evaluates mineral properties in Canada More
Ascendant 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 Ascendant 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 Ascendant Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 20.83 | |||
| Information Ratio | 0.0854 | |||
| Maximum Drawdown | 58.33 | |||
| Value At Risk | (20.00) | |||
| Potential Upside | 25.0 |
Ascendant Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ascendant Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ascendant Resources' standard deviation. In reality, there are many statistical measures that can use Ascendant Resources historical prices to predict the future Ascendant Resources' volatility.| Risk Adjusted Performance | 0.0791 | |||
| Jensen Alpha | 1.17 | |||
| Total Risk Alpha | 0.724 | |||
| Sortino Ratio | 0.0501 | |||
| Treynor Ratio | (0.23) |
Ascendant Resources Backtested Returns
Ascendant Resources is out of control given 3 months investment horizon. Ascendant Resources secures Sharpe Ratio (or Efficiency) of 0.0872, which signifies that the company had a 0.0872% return per unit of standard deviation over the last 3 months. We were able to break down and interpolate data for twenty-eight different technical indicators, which can help you to evaluate if expected returns of 1.02% are justified by taking the suggested risk. Use Ascendant Resources risk adjusted performance of 0.0791, and Mean Deviation of 7.47 to evaluate company specific risk that cannot be diversified away. Ascendant Resources holds a performance score of 6 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of -4.69, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Ascendant Resources are expected to decrease by larger amounts. On the other hand, during market turmoil, Ascendant Resources is expected to outperform it. Use Ascendant Resources market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to analyze future returns on Ascendant Resources.
Auto-correlation | 0.79 |
Good predictability
Ascendant Resources has good predictability. Overlapping area represents the amount of predictability between Ascendant Resources time series from 1st of January 2023 to 27th of December 2023 and 27th of December 2023 to 21st 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 Ascendant Resources price movement. The serial correlation of 0.79 indicates that around 79.0% of current Ascendant Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Ascendant Resources lagged returns against current returns
Autocorrelation, which is Ascendant 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 Ascendant Resources' stock expected returns. We can calculate the autocorrelation of Ascendant Resources returns to help us make a trade decision. For example, suppose you find that Ascendant 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 |
Ascendant 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 Ascendant Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ascendant Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ascendant Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Ascendant Resources Lagged Returns
When evaluating Ascendant Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ascendant Resources stock have on its future price. Ascendant 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, Ascendant Resources autocorrelation shows the relationship between Ascendant Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Ascendant Resources.
Regressed Prices |
| Timeline |
Pair Trading with Ascendant Resources
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 Ascendant Resources 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 Ascendant Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Ascendant Stock
The ability to find closely correlated positions to Ascendant Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ascendant Resources 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 Ascendant Resources - 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 Ascendant Resources to buy it.
The correlation of Ascendant Resources 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 Ascendant Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ascendant Resources 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 Ascendant Resources 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.Other Information on Investing in Ascendant Stock
Ascendant Resources financial ratios help investors to determine whether Ascendant 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 Ascendant with respect to the benefits of owning Ascendant Resources security.