Canex Metals Stock Market Value

CANX Stock  CAD 0.04  0.00  0.00%   
CANEX Metals' market value is the price at which a share of CANEX Metals trades on a public exchange. It measures the collective expectations of CANEX Metals investors about its performance. CANEX Metals is selling for under 0.04 as of the 12th of December 2024; that is No Change since the beginning of the trading day. The stock's lowest day price was 0.04.
With this module, you can estimate the performance of a buy and hold strategy of CANEX Metals and determine expected loss or profit from investing in CANEX Metals over a given investment horizon. Check out CANEX Metals Correlation, CANEX Metals Volatility and CANEX Metals Alpha and Beta module to complement your research on CANEX Metals.
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Please note, there is a significant difference between CANEX Metals' value and its price as these two are different measures arrived at by different means. Investors typically determine if CANEX Metals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CANEX Metals' 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.

CANEX Metals '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 CANEX Metals' 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 CANEX Metals.
0.00
11/12/2024
No Change 0.00  0.0 
In 31 days
12/12/2024
0.00
If you would invest  0.00  in CANEX Metals on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding CANEX Metals or generate 0.0% return on investment in CANEX Metals over 30 days. CANEX Metals is related to or competes with Golden Pursuit. CANEX Metals Inc., a junior exploration company, acquires, explores, and develops mineral properties in Canada More

CANEX Metals 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 CANEX Metals' 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 CANEX Metals upside and downside potential and time the market with a certain degree of confidence.

CANEX Metals Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for CANEX Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CANEX Metals' standard deviation. In reality, there are many statistical measures that can use CANEX Metals historical prices to predict the future CANEX Metals' volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CANEX Metals' 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.
Hype
Prediction
LowEstimatedHigh
0.000.0412.04
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Intrinsic
Valuation
LowRealHigh
0.000.0412.04
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CANEX Metals Backtested Returns

At this stage we consider CANEX Stock to be out of control. CANEX Metals secures Sharpe Ratio (or Efficiency) of 0.0041, which signifies that the company had a 0.0041% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for CANEX Metals, which you can use to evaluate the volatility of the entity. Please confirm CANEX Metals' Mean Deviation of 5.49, coefficient of variation of 24427.73, and Semi Deviation of 8.15 to double-check if the risk estimate we provide is consistent with the expected return of 0.0491%. The firm shows a Beta (market volatility) of -1.65, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning CANEX Metals are expected to decrease by larger amounts. On the other hand, during market turmoil, CANEX Metals is expected to outperform it. CANEX Metals at this time shows a risk of 12.0%. Please confirm CANEX Metals total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if CANEX Metals will be following its price patterns.

Auto-correlation

    
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No correlation between past and present

CANEX Metals has no correlation between past and present. Overlapping area represents the amount of predictability between CANEX Metals time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 CANEX Metals price movement. The serial correlation of 0.0 indicates that just 0.0% of current CANEX Metals price fluctuation can be explain by its past prices.
Correlation Coefficient0.0
Spearman Rank Test0.74
Residual Average0.0
Price Variance0.0

CANEX Metals lagged returns against current returns

Autocorrelation, which is CANEX Metals 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 CANEX Metals' stock expected returns. We can calculate the autocorrelation of CANEX Metals returns to help us make a trade decision. For example, suppose you find that CANEX Metals 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  

CANEX Metals 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 CANEX Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CANEX Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CANEX Metals stock over time.
   Current vs Lagged Prices   
       Timeline  

CANEX Metals Lagged Returns

When evaluating CANEX Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CANEX Metals stock have on its future price. CANEX Metals 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, CANEX Metals autocorrelation shows the relationship between CANEX Metals stock current value and its past values and can show if there is a momentum factor associated with investing in CANEX Metals.
   Regressed Prices   
       Timeline  

Thematic Opportunities

Explore Investment Opportunities

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Additional Tools for CANEX Stock Analysis

When running CANEX Metals' price analysis, check to measure CANEX Metals' 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 CANEX Metals is operating at the current time. Most of CANEX Metals' value examination focuses on studying past and present price action to predict the probability of CANEX Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CANEX Metals' price. Additionally, you may evaluate how the addition of CANEX Metals to your portfolios can decrease your overall portfolio volatility.