District Metals Corp Stock Market Value
| DMX Stock | CAD 0.37 0.01 2.78% |
| Symbol | District |
District Metals Corp Price To Book Ratio
District 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 District 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 District Metals.
| 11/08/2024 |
| 12/08/2024 |
If you would invest 0.00 in District Metals on November 8, 2024 and sell it all today you would earn a total of 0.00 from holding District Metals Corp or generate 0.0% return on investment in District Metals over 30 days. District Metals is related to or competes with Equity Metals, GR Silver, AbraSilver Resource, and Defiance Silver. District Metals Corp., a junior mineral exploration stage company, acquires, explores for, and evaluates natural resourc... More
District 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 District 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 District Metals Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.47 | |||
| Information Ratio | 0.1031 | |||
| Maximum Drawdown | 24.03 | |||
| Value At Risk | (5.26) | |||
| Potential Upside | 7.5 |
District Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for District Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as District Metals' standard deviation. In reality, there are many statistical measures that can use District Metals historical prices to predict the future District Metals' volatility.| Risk Adjusted Performance | 0.1103 | |||
| Jensen Alpha | 0.4623 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0936 | |||
| Treynor Ratio | 0.8311 |
District Metals Corp Backtested Returns
District Metals appears to be out of control, given 3 months investment horizon. District Metals Corp secures Sharpe Ratio (or Efficiency) of 0.14, which denotes the company had a 0.14% return per unit of risk over the last 3 months. By reviewing District Metals' technical indicators, you can evaluate if the expected return of 0.57% is justified by implied risk. Please utilize District Metals' Mean Deviation of 3.02, downside deviation of 4.47, and Coefficient Of Variation of 725.5 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, District Metals holds a performance score of 10. The firm shows a Beta (market volatility) of 0.66, which means possible diversification benefits within a given portfolio. As returns on the market increase, District Metals' returns are expected to increase less than the market. However, during the bear market, the loss of holding District Metals is expected to be smaller as well. Please check District Metals' maximum drawdown and the relationship between the semi variance and day typical price , to make a quick decision on whether District Metals' price patterns will revert.
Auto-correlation | 0.28 |
Poor predictability
District Metals Corp has poor predictability. Overlapping area represents the amount of predictability between District Metals time series from 8th of November 2024 to 23rd of November 2024 and 23rd of November 2024 to 8th 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 District Metals Corp price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current District Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
District Metals Corp lagged returns against current returns
Autocorrelation, which is District 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 District Metals' stock expected returns. We can calculate the autocorrelation of District Metals returns to help us make a trade decision. For example, suppose you find that District 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 |
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District 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 District Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if District Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in District Metals stock over time.
Current vs Lagged Prices |
| Timeline |
District Metals Lagged Returns
When evaluating District Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of District Metals stock have on its future price. District 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, District Metals autocorrelation shows the relationship between District Metals stock current value and its past values and can show if there is a momentum factor associated with investing in District Metals Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for District Stock Analysis
When running District Metals' price analysis, check to measure District 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 District Metals is operating at the current time. Most of District Metals' value examination focuses on studying past and present price action to predict the probability of District Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move District Metals' price. Additionally, you may evaluate how the addition of District Metals to your portfolios can decrease your overall portfolio volatility.