Elevate Uranium (Australia) Market Value
| EL8 Stock | 0.29 0.01 3.33% |
| Symbol | Elevate |
Elevate Uranium '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 Elevate Uranium'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 Elevate Uranium.
| 06/07/2024 |
| 12/04/2024 |
If you would invest 0.00 in Elevate Uranium on June 7, 2024 and sell it all today you would earn a total of 0.00 from holding Elevate Uranium or generate 0.0% return on investment in Elevate Uranium over 180 days. Elevate Uranium is related to or competes with Westpac Banking, ABACUS STORAGE, Bisalloy Steel, JB Hi, Pointsbet Holdings, Fortescue, and Sims. Elevate Uranium is entity of Australia. It is traded as Stock on AU exchange. More
Elevate Uranium 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 Elevate Uranium'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 Elevate Uranium upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 23.33 | |||
| Value At Risk | (9.68) | |||
| Potential Upside | 10.71 |
Elevate Uranium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elevate Uranium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elevate Uranium's standard deviation. In reality, there are many statistical measures that can use Elevate Uranium historical prices to predict the future Elevate Uranium's volatility.| Risk Adjusted Performance | 0.0037 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.82) | |||
| Treynor Ratio | 0.1815 |
Elevate Uranium Backtested Returns
Elevate Uranium secures Sharpe Ratio (or Efficiency) of -0.0019, which denotes the company had a -0.0019% return per unit of risk over the last 3 months. Elevate Uranium exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elevate Uranium's Variance of 32.55, mean deviation of 4.15, and Standard Deviation of 5.71 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.26, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Elevate Uranium are expected to decrease at a much lower rate. During the bear market, Elevate Uranium is likely to outperform the market. At this point, Elevate Uranium has a negative expected return of -0.01%. Please make sure to confirm Elevate Uranium's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Elevate Uranium performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.21 |
Weak predictability
Elevate Uranium has weak predictability. Overlapping area represents the amount of predictability between Elevate Uranium time series from 7th of June 2024 to 5th of September 2024 and 5th of September 2024 to 4th 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 Elevate Uranium price movement. The serial correlation of 0.21 indicates that over 21.0% of current Elevate Uranium price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Elevate Uranium lagged returns against current returns
Autocorrelation, which is Elevate Uranium 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 Elevate Uranium's stock expected returns. We can calculate the autocorrelation of Elevate Uranium returns to help us make a trade decision. For example, suppose you find that Elevate Uranium 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 |
Elevate Uranium 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 Elevate Uranium stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elevate Uranium stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elevate Uranium stock over time.
Current vs Lagged Prices |
| Timeline |
Elevate Uranium Lagged Returns
When evaluating Elevate Uranium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elevate Uranium stock have on its future price. Elevate Uranium 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, Elevate Uranium autocorrelation shows the relationship between Elevate Uranium stock current value and its past values and can show if there is a momentum factor associated with investing in Elevate Uranium.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Elevate Stock Analysis
When running Elevate Uranium's price analysis, check to measure Elevate Uranium's 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 Elevate Uranium is operating at the current time. Most of Elevate Uranium's value examination focuses on studying past and present price action to predict the probability of Elevate Uranium's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevate Uranium's price. Additionally, you may evaluate how the addition of Elevate Uranium to your portfolios can decrease your overall portfolio volatility.