Centerra Gold Stock Market Value
| CG Stock | CAD 8.45 0.06 0.72% |
| Symbol | Centerra |
Centerra Gold Price To Book Ratio
Centerra Gold '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 Centerra Gold'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 Centerra Gold.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Centerra Gold on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Centerra Gold or generate 0.0% return on investment in Centerra Gold over 720 days. Centerra Gold is related to or competes with Alamos Gold, NovaGold Resources, Eldorado Gold, IAMGold, and Dundee Precious. Centerra Gold Inc., a gold mining and exploration company, engages in the acquisition, exploration, development, and ope... More
Centerra Gold 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 Centerra Gold'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 Centerra Gold upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 12.85 | |||
| Value At Risk | (4.33) | |||
| Potential Upside | 3.96 |
Centerra Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Centerra Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Centerra Gold's standard deviation. In reality, there are many statistical measures that can use Centerra Gold historical prices to predict the future Centerra Gold's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | (0.17) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Centerra Gold'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.
Centerra Gold Backtested Returns
Centerra Gold secures Sharpe Ratio (or Efficiency) of -0.0279, which signifies that the company had a -0.0279% return per unit of risk over the last 3 months. Centerra Gold exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Centerra Gold's Mean Deviation of 1.76, risk adjusted performance of (0.04), and Standard Deviation of 2.41 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.97, which signifies possible diversification benefits within a given portfolio. Centerra Gold returns are very sensitive to returns on the market. As the market goes up or down, Centerra Gold is expected to follow. At this point, Centerra Gold has a negative expected return of -0.0658%. Please make sure to confirm Centerra Gold's accumulation distribution, and the relationship between the value at risk and day typical price , to decide if Centerra Gold performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.38 |
Poor reverse predictability
Centerra Gold has poor reverse predictability. Overlapping area represents the amount of predictability between Centerra Gold 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 Centerra Gold price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Centerra Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 1.06 |
Centerra Gold lagged returns against current returns
Autocorrelation, which is Centerra Gold 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 Centerra Gold's stock expected returns. We can calculate the autocorrelation of Centerra Gold returns to help us make a trade decision. For example, suppose you find that Centerra Gold 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 |
Centerra Gold 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 Centerra Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Centerra Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Centerra Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Centerra Gold Lagged Returns
When evaluating Centerra Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Centerra Gold stock have on its future price. Centerra Gold 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, Centerra Gold autocorrelation shows the relationship between Centerra Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Centerra Gold.
Regressed Prices |
| Timeline |
Pair Trading with Centerra Gold
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 Centerra Gold 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 Centerra Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Centerra Stock
Moving against Centerra Stock
The ability to find closely correlated positions to Centerra Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Centerra Gold 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 Centerra Gold - 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 Centerra Gold to buy it.
The correlation of Centerra Gold 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 Centerra Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Centerra Gold 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 Centerra Gold 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 Centerra Gold Correlation, Centerra Gold Volatility and Centerra Gold Alpha and Beta module to complement your research on Centerra Gold. To learn how to invest in Centerra Stock, please use our How to Invest in Centerra Gold guide.You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Centerra Gold 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.