Eastern Platinum Limited Stock Market Value
| ELR Stock | CAD 0.16 0.02 11.11% |
| Symbol | Eastern |
Eastern Platinum Price To Book Ratio
Eastern Platinum '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 Eastern Platinum'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 Eastern Platinum.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Eastern Platinum on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Eastern Platinum Limited or generate 0.0% return on investment in Eastern Platinum over 30 days. Eastern Platinum is related to or competes with Platinum Group, Entree Resources, Aura Minerals, and Minco Silver. Eastern Platinum Limited, together with its subsidiaries, engages in the mining, exploration, and development of platinu... More
Eastern Platinum 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 Eastern Platinum'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 Eastern Platinum Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.87 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 32.54 | |||
| Value At Risk | (7.14) | |||
| Potential Upside | 12.5 |
Eastern Platinum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eastern Platinum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eastern Platinum's standard deviation. In reality, there are many statistical measures that can use Eastern Platinum historical prices to predict the future Eastern Platinum's volatility.| Risk Adjusted Performance | 0.0092 | |||
| Jensen Alpha | 0.0205 | |||
| Total Risk Alpha | (0.84) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0239 |
Eastern Platinum Backtested Returns
Eastern Platinum appears to be out of control, given 3 months investment horizon. Eastern Platinum secures Sharpe Ratio (or Efficiency) of 0.0639, which denotes the company had a 0.0639% return per unit of risk over the last 3 months. We have found thirty technical indicators for Eastern Platinum Limited, which you can use to evaluate the volatility of the firm. Please utilize Eastern Platinum's Mean Deviation of 4.23, coefficient of variation of 160729.93, and Downside Deviation of 6.87 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Eastern Platinum holds a performance score of 5. 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 Eastern Platinum are expected to decrease at a much lower rate. During the bear market, Eastern Platinum is likely to outperform the market. Please check Eastern Platinum's maximum drawdown, accumulation distribution, relative strength index, as well as the relationship between the semi variance and day typical price , to make a quick decision on whether Eastern Platinum's price patterns will revert.
Auto-correlation | 0.12 |
Insignificant predictability
Eastern Platinum Limited has insignificant predictability. Overlapping area represents the amount of predictability between Eastern Platinum time series from 4th of November 2024 to 19th of November 2024 and 19th of November 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 Eastern Platinum price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Eastern Platinum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Eastern Platinum lagged returns against current returns
Autocorrelation, which is Eastern Platinum 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 Eastern Platinum's stock expected returns. We can calculate the autocorrelation of Eastern Platinum returns to help us make a trade decision. For example, suppose you find that Eastern Platinum 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 |
Eastern Platinum 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 Eastern Platinum stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eastern Platinum stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eastern Platinum stock over time.
Current vs Lagged Prices |
| Timeline |
Eastern Platinum Lagged Returns
When evaluating Eastern Platinum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eastern Platinum stock have on its future price. Eastern Platinum 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, Eastern Platinum autocorrelation shows the relationship between Eastern Platinum stock current value and its past values and can show if there is a momentum factor associated with investing in Eastern Platinum Limited.
Regressed Prices |
| Timeline |
Pair Trading with Eastern Platinum
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 Eastern Platinum 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 Eastern Platinum will appreciate offsetting losses from the drop in the long position's value.Moving together with Eastern Stock
| 0.7 | AG | First Majestic Silver | PairCorr |
| 0.61 | IE | Ivanhoe Energy | PairCorr |
| 0.67 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Eastern Platinum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eastern Platinum 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 Eastern Platinum - 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 Eastern Platinum Limited to buy it.
The correlation of Eastern Platinum 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 Eastern Platinum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eastern Platinum 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 Eastern Platinum 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 Eastern Stock
Eastern Platinum financial ratios help investors to determine whether Eastern 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 Eastern with respect to the benefits of owning Eastern Platinum security.