Highway 50 Gold Stock Market Value
| HWY Stock | CAD 0.16 0.04 20.00% |
| Symbol | Highway |
Highway 50 '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 Highway 50'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 Highway 50.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Highway 50 on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Highway 50 Gold or generate 0.0% return on investment in Highway 50 over 30 days. Highway 50 is related to or competes with Cogeco Communications, Economic Investment, Diversified Royalty, Gamehost, and Data Communications. Highway 50 Gold Corp., an exploration stage company, engages in the acquisition, exploration, and evaluation of assets i... More
Highway 50 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 Highway 50'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 Highway 50 Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 16.46 | |||
| Information Ratio | 0.0331 | |||
| Maximum Drawdown | 70.67 | |||
| Value At Risk | (13.64) | |||
| Potential Upside | 20.0 |
Highway 50 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highway 50's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highway 50's standard deviation. In reality, there are many statistical measures that can use Highway 50 historical prices to predict the future Highway 50's volatility.| Risk Adjusted Performance | 0.0432 | |||
| Jensen Alpha | 0.2675 | |||
| Total Risk Alpha | (0.91) | |||
| Sortino Ratio | 0.0199 | |||
| Treynor Ratio | 0.2733 |
Highway 50 Gold Backtested Returns
Highway 50 appears to be out of control, given 3 months investment horizon. Highway 50 Gold holds Efficiency (Sharpe) Ratio of 0.0456, which attests that the entity had a 0.0456% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Highway 50 Gold, which you can use to evaluate the volatility of the firm. Please utilize Highway 50's Market Risk Adjusted Performance of 0.2833, risk adjusted performance of 0.0432, and Downside Deviation of 16.46 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Highway 50 holds a performance score of 3. The company retains a Market Volatility (i.e., Beta) of 1.57, which attests to 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, Highway 50 will likely underperform. Please check Highway 50's total risk alpha and the relationship between the potential upside and price action indicator , to make a quick decision on whether Highway 50's current trending patterns will revert.
Auto-correlation | 0.94 |
Excellent predictability
Highway 50 Gold has excellent predictability. Overlapping area represents the amount of predictability between Highway 50 time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Highway 50 Gold price movement. The serial correlation of 0.94 indicates that approximately 94.0% of current Highway 50 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.94 | |
| Spearman Rank Test | 0.99 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Highway 50 Gold lagged returns against current returns
Autocorrelation, which is Highway 50 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 Highway 50's stock expected returns. We can calculate the autocorrelation of Highway 50 returns to help us make a trade decision. For example, suppose you find that Highway 50 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 |
Highway 50 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 Highway 50 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highway 50 stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highway 50 stock over time.
Current vs Lagged Prices |
| Timeline |
Highway 50 Lagged Returns
When evaluating Highway 50's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highway 50 stock have on its future price. Highway 50 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, Highway 50 autocorrelation shows the relationship between Highway 50 stock current value and its past values and can show if there is a momentum factor associated with investing in Highway 50 Gold.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Highway Stock Analysis
When running Highway 50's price analysis, check to measure Highway 50'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 Highway 50 is operating at the current time. Most of Highway 50's value examination focuses on studying past and present price action to predict the probability of Highway 50's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Highway 50's price. Additionally, you may evaluate how the addition of Highway 50 to your portfolios can decrease your overall portfolio volatility.