Forsys Metals Corp Stock Market Value
| FSY Stock | CAD 0.69 0.01 1.43% |
| Symbol | Forsys |
Forsys Metals Corp Price To Book Ratio
Forsys 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 Forsys 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 Forsys Metals.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Forsys Metals on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Forsys Metals Corp or generate 0.0% return on investment in Forsys Metals over 720 days. Forsys Metals is related to or competes with Algoma Steel, Champion Iron, European Residential, Financial, Rubicon Organics, Linamar, and Amazon CDR. Forsys Metals Corp., an exploration stage company, acquires, explores, and develops uranium and gold mineral properties ... More
Forsys 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 Forsys 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 Forsys Metals Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.08 | |||
| Information Ratio | 0.0533 | |||
| Maximum Drawdown | 23.24 | |||
| Value At Risk | (8.33) | |||
| Potential Upside | 12.28 |
Forsys Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Forsys Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Forsys Metals' standard deviation. In reality, there are many statistical measures that can use Forsys Metals historical prices to predict the future Forsys Metals' volatility.| Risk Adjusted Performance | 0.0681 | |||
| Jensen Alpha | 0.5056 | |||
| Total Risk Alpha | (0.51) | |||
| Sortino Ratio | 0.0591 | |||
| Treynor Ratio | (0.70) |
Forsys Metals Corp Backtested Returns
Forsys Metals appears to be out of control, given 3 months investment horizon. Forsys Metals Corp secures Sharpe Ratio (or Efficiency) of 0.0941, which denotes the company had a 0.0941% return per unit of risk over the last 3 months. By reviewing Forsys Metals' technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please utilize Forsys Metals' Downside Deviation of 5.08, mean deviation of 4.36, and Coefficient Of Variation of 1285.49 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Forsys Metals holds a performance score of 7. The firm shows a Beta (market volatility) of -0.61, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Forsys Metals are expected to decrease at a much lower rate. During the bear market, Forsys Metals is likely to outperform the market. Please check Forsys Metals' maximum drawdown and the relationship between the semi variance and day typical price , to make a quick decision on whether Forsys Metals' price patterns will revert.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Forsys Metals Corp has insignificant reverse predictability. Overlapping area represents the amount of predictability between Forsys Metals 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 Forsys Metals Corp price movement. The serial correlation of -0.19 indicates that over 19.0% of current Forsys Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Forsys Metals Corp lagged returns against current returns
Autocorrelation, which is Forsys 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 Forsys Metals' stock expected returns. We can calculate the autocorrelation of Forsys Metals returns to help us make a trade decision. For example, suppose you find that Forsys 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 |
| Timeline |
Forsys 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 Forsys Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Forsys Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Forsys Metals stock over time.
Current vs Lagged Prices |
| Timeline |
Forsys Metals Lagged Returns
When evaluating Forsys Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Forsys Metals stock have on its future price. Forsys 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, Forsys Metals autocorrelation shows the relationship between Forsys Metals stock current value and its past values and can show if there is a momentum factor associated with investing in Forsys Metals Corp.
Regressed Prices |
| Timeline |
Pair Trading with Forsys Metals
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 Forsys Metals 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 Forsys Metals will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Forsys Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Forsys Metals 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 Forsys Metals - 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 Forsys Metals Corp to buy it.
The correlation of Forsys Metals 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 Forsys Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Forsys Metals Corp 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 Forsys Metals 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 Forsys Stock
Forsys Metals financial ratios help investors to determine whether Forsys 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 Forsys with respect to the benefits of owning Forsys Metals security.