Goldmining Stock Market Value
| GOLD Stock | CAD 1.23 0.02 1.60% |
| Symbol | GoldMining |
GoldMining Price To Book Ratio
GoldMining '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 GoldMining'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 GoldMining.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in GoldMining on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding GoldMining or generate 0.0% return on investment in GoldMining over 30 days. GoldMining is related to or competes with First Mining, Liberty Gold, Equinox Gold, SilverCrest Metals, and Metalla Royalty. GoldMining Inc., a mineral exploration company, focuses on the acquisition, exploration, and development of projects in ... More
GoldMining 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 GoldMining'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 GoldMining upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.95 | |||
| Information Ratio | 0.002 | |||
| Maximum Drawdown | 11.7 | |||
| Value At Risk | (2.92) | |||
| Potential Upside | 4.92 |
GoldMining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GoldMining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GoldMining's standard deviation. In reality, there are many statistical measures that can use GoldMining historical prices to predict the future GoldMining's volatility.| Risk Adjusted Performance | 0.0526 | |||
| Jensen Alpha | 0.129 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | 0.0025 | |||
| Treynor Ratio | 4.92 |
GoldMining Backtested Returns
As of now, GoldMining Stock is very risky. GoldMining holds Efficiency (Sharpe) Ratio of 0.0441, which attests that the entity had a 0.0441% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for GoldMining, which you can use to evaluate the volatility of the firm. Please check out GoldMining's Risk Adjusted Performance of 0.0526, downside deviation of 1.95, and Market Risk Adjusted Performance of 4.93 to validate if the risk estimate we provide is consistent with the expected return of 0.11%. GoldMining has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0269, which attests to not very significant fluctuations relative to the market. As returns on the market increase, GoldMining's returns are expected to increase less than the market. However, during the bear market, the loss of holding GoldMining is expected to be smaller as well. GoldMining right now retains a risk of 2.4%. Please check out GoldMining jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to decide if GoldMining will be following its current trending patterns.
Auto-correlation | -0.05 |
Very weak reverse predictability
GoldMining has very weak reverse predictability. Overlapping area represents the amount of predictability between GoldMining time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 GoldMining price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current GoldMining price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
GoldMining lagged returns against current returns
Autocorrelation, which is GoldMining 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 GoldMining's stock expected returns. We can calculate the autocorrelation of GoldMining returns to help us make a trade decision. For example, suppose you find that GoldMining 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 |
GoldMining 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 GoldMining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GoldMining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GoldMining stock over time.
Current vs Lagged Prices |
| Timeline |
GoldMining Lagged Returns
When evaluating GoldMining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GoldMining stock have on its future price. GoldMining 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, GoldMining autocorrelation shows the relationship between GoldMining stock current value and its past values and can show if there is a momentum factor associated with investing in GoldMining.
Regressed Prices |
| Timeline |
Pair Trading with GoldMining
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 GoldMining 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 GoldMining will appreciate offsetting losses from the drop in the long position's value.Moving against GoldMining Stock
The ability to find closely correlated positions to GoldMining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoldMining 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 GoldMining - 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 GoldMining to buy it.
The correlation of GoldMining 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 GoldMining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoldMining 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 GoldMining 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.Check out GoldMining Correlation, GoldMining Volatility and GoldMining Alpha and Beta module to complement your research on GoldMining. To learn how to invest in GoldMining Stock, please use our How to Invest in GoldMining guide.You can also try the Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
GoldMining technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.