Gogold Resources Stock Market Value
| GGD Stock | CAD 1.93 0.06 3.21% |
| Symbol | GoGold |
GoGold Resources Price To Book Ratio
GoGold 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 GoGold Resources' 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 GoGold Resources.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in GoGold Resources on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding GoGold Resources or generate 0.0% return on investment in GoGold Resources over 90 days. GoGold Resources is related to or competes with Defiance Silver, Liberty Gold, Dolly Varden, Minaurum Gold, and Americas Silver. GoGold Resources Inc. engages in the exploration, development, and production of mineral properties in Mexico More
GoGold 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 GoGold Resources' 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 GoGold Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.23 | |||
| Information Ratio | 0.252 | |||
| Maximum Drawdown | 14.32 | |||
| Value At Risk | (4.46) | |||
| Potential Upside | 7.1 |
GoGold Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GoGold Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GoGold Resources' standard deviation. In reality, there are many statistical measures that can use GoGold Resources historical prices to predict the future GoGold Resources' volatility.| Risk Adjusted Performance | 0.2013 | |||
| Jensen Alpha | 0.7877 | |||
| Total Risk Alpha | 1.17 | |||
| Sortino Ratio | 0.2638 | |||
| Treynor Ratio | 1.82 |
GoGold Resources Backtested Returns
GoGold Resources appears to be very risky, given 3 months investment horizon. GoGold Resources holds Efficiency (Sharpe) Ratio of 0.29, which attests that the entity had a 0.29 % return per unit of return volatility over the last 3 months. By examining GoGold Resources' technical indicators, you can evaluate if the expected return of 0.97% is justified by implied risk. Please utilize GoGold Resources' Risk Adjusted Performance of 0.2013, semi deviation of 2.51, and Market Risk Adjusted Performance of 1.83 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, GoGold Resources holds a performance score of 22. The company retains a Market Volatility (i.e., Beta) of 0.41, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, GoGold Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding GoGold Resources is expected to be smaller as well. Please check GoGold Resources' standard deviation, value at risk, kurtosis, as well as the relationship between the sortino ratio and semi variance , to make a quick decision on whether GoGold Resources' current trending patterns will revert.
Auto-correlation | 0.54 |
Modest predictability
GoGold Resources has modest predictability. Overlapping area represents the amount of predictability between GoGold Resources time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of GoGold Resources price movement. The serial correlation of 0.54 indicates that about 54.0% of current GoGold Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
GoGold Resources lagged returns against current returns
Autocorrelation, which is GoGold Resources 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 GoGold Resources' stock expected returns. We can calculate the autocorrelation of GoGold Resources returns to help us make a trade decision. For example, suppose you find that GoGold Resources 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 |
GoGold 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 GoGold Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GoGold Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GoGold Resources stock over time.
Current vs Lagged Prices |
| Timeline |
GoGold Resources Lagged Returns
When evaluating GoGold Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GoGold Resources stock have on its future price. GoGold 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, GoGold Resources autocorrelation shows the relationship between GoGold Resources stock current value and its past values and can show if there is a momentum factor associated with investing in GoGold Resources.
Regressed Prices |
| Timeline |
Pair Trading with GoGold Resources
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 GoGold Resources 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 GoGold Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with GoGold Stock
Moving against GoGold Stock
The ability to find closely correlated positions to GoGold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoGold Resources 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 GoGold Resources - 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 GoGold Resources to buy it.
The correlation of GoGold Resources 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 GoGold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoGold Resources 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 GoGold Resources 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 GoGold Stock
GoGold Resources financial ratios help investors to determine whether GoGold 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 GoGold with respect to the benefits of owning GoGold Resources security.