Harmony Gold Mining Stock Market Value
| HMY Stock | USD 9.19 0.12 1.32% |
| Symbol | Harmony |
Harmony Gold Mining Price To Book Ratio
Is Metals & Mining space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Harmony Gold. If investors know Harmony will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Harmony Gold listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.13) | Dividend Share 2.41 | Earnings Share 0.76 | Revenue Per Share 99.088 | Quarterly Revenue Growth 0.152 |
The market value of Harmony Gold Mining is measured differently than its book value, which is the value of Harmony that is recorded on the company's balance sheet. Investors also form their own opinion of Harmony Gold's value that differs from its market value or its book value, called intrinsic value, which is Harmony Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Harmony Gold's market value can be influenced by many factors that don't directly affect Harmony Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Harmony Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if Harmony Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Harmony Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Harmony Gold '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 Harmony Gold'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 Harmony Gold.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Harmony Gold on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Harmony Gold Mining or generate 0.0% return on investment in Harmony Gold over 30 days. Harmony Gold is related to or competes with Fortitude Gold, New Gold, Galiano Gold, GoldMining, and IAMGold. Harmony Gold Mining Company Limited engages in the exploration, extraction, and processing of gold More
Harmony Gold 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 Harmony Gold'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 Harmony Gold Mining upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 17.74 | |||
| Value At Risk | (5.89) | |||
| Potential Upside | 7.63 |
Harmony Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harmony Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harmony Gold's standard deviation. In reality, there are many statistical measures that can use Harmony Gold historical prices to predict the future Harmony Gold's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.70) | |||
| Treynor Ratio | (0.42) |
Harmony Gold Mining Backtested Returns
At this stage we consider Harmony Stock to be slightly risky. Harmony Gold Mining holds Efficiency (Sharpe) Ratio of 0.0206, which attests that the entity had a 0.0206% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Harmony Gold Mining, which you can use to evaluate the volatility of the firm. Please check out Harmony Gold's Risk Adjusted Performance of (0.01), standard deviation of 3.62, and Market Risk Adjusted Performance of (0.41) to validate if the risk estimate we provide is consistent with the expected return of 0.0724%. Harmony Gold has a performance score of 1 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.23, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Harmony Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Harmony Gold is expected to be smaller as well. Harmony Gold Mining right now retains a risk of 3.51%. Please check out Harmony Gold treynor ratio, accumulation distribution, as well as the relationship between the Accumulation Distribution and price action indicator , to decide if Harmony Gold will be following its current trending patterns.
Auto-correlation | 0.72 |
Good predictability
Harmony Gold Mining has good predictability. Overlapping area represents the amount of predictability between Harmony Gold 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 Harmony Gold Mining price movement. The serial correlation of 0.72 indicates that around 72.0% of current Harmony Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Harmony Gold Mining lagged returns against current returns
Autocorrelation, which is Harmony Gold 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 Harmony Gold's stock expected returns. We can calculate the autocorrelation of Harmony Gold returns to help us make a trade decision. For example, suppose you find that Harmony Gold 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 |
Harmony Gold 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 Harmony Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harmony Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harmony Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Harmony Gold Lagged Returns
When evaluating Harmony Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harmony Gold stock have on its future price. Harmony Gold 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, Harmony Gold autocorrelation shows the relationship between Harmony Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Harmony Gold Mining.
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.Additional Tools for Harmony Stock Analysis
When running Harmony Gold's price analysis, check to measure Harmony Gold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Harmony Gold is operating at the current time. Most of Harmony Gold's value examination focuses on studying past and present price action to predict the probability of Harmony Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Harmony Gold's price. Additionally, you may evaluate how the addition of Harmony Gold to your portfolios can decrease your overall portfolio volatility.