Elray Resources Stock Market Value
| ELRA Stock | USD 0.0004 0.0001 20.00% |
| Symbol | Elray |
Elray Resources '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 Elray Resources' pink sheet 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 Elray Resources.
| 12/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Elray Resources on December 19, 2023 and sell it all today you would earn a total of 0.00 from holding Elray Resources or generate 0.0% return on investment in Elray Resources over 360 days. Elray Resources, Inc., a technology company, owns and licenses gaming intellectual property, gaming content, gaming doma... More
Elray Resources 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 Elray Resources' pink sheet 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 Elray Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 20.59 | |||
| Information Ratio | 0.0879 | |||
| Maximum Drawdown | 100.0 | |||
| Value At Risk | (20.00) | |||
| Potential Upside | 25.0 |
Elray Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elray Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elray Resources' standard deviation. In reality, there are many statistical measures that can use Elray Resources historical prices to predict the future Elray Resources' volatility.| Risk Adjusted Performance | 0.078 | |||
| Jensen Alpha | 1.55 | |||
| Total Risk Alpha | (0.83) | |||
| Sortino Ratio | 0.076 | |||
| Treynor Ratio | 1.41 |
Elray Resources Backtested Returns
Elray Resources is out of control given 3 months investment horizon. Elray Resources secures Sharpe Ratio (or Efficiency) of 0.0956, which denotes the company had a 0.0956% return per unit of risk over the last 3 months. We were able to interpolate data for twenty-seven different technical indicators, which can help you to evaluate if expected returns of 1.73% are justified by taking the suggested risk. Use Elray Resources Coefficient Of Variation of 1062.08, downside deviation of 20.59, and Mean Deviation of 10.5 to evaluate company specific risk that cannot be diversified away. Elray Resources holds a performance score of 7 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of 1.18, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Elray Resources will likely underperform. Use Elray Resources semi variance, day median price, and the relationship between the value at risk and kurtosis , to analyze future returns on Elray Resources.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Elray Resources has insignificant reverse predictability. Overlapping area represents the amount of predictability between Elray Resources time series from 19th of December 2023 to 16th of June 2024 and 16th of June 2024 to 13th 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 Elray Resources price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Elray Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Elray Resources lagged returns against current returns
Autocorrelation, which is Elray Resources pink sheet'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 Elray Resources' pink sheet expected returns. We can calculate the autocorrelation of Elray Resources returns to help us make a trade decision. For example, suppose you find that Elray Resources has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Elray Resources 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 Elray Resources pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elray Resources pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elray Resources pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Elray Resources Lagged Returns
When evaluating Elray Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elray Resources pink sheet have on its future price. Elray Resources 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, Elray Resources autocorrelation shows the relationship between Elray Resources pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Elray Resources.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Elray Pink Sheet
Elray Resources financial ratios help investors to determine whether Elray Pink Sheet 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 Elray with respect to the benefits of owning Elray Resources security.