Itech Minerals (Australia) Market Value
| ITM Stock | 0.06 0 4.48% |
| Symbol | Itech |
Itech Minerals '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 Itech Minerals' 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 Itech Minerals.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Itech Minerals on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Itech Minerals or generate 0.0% return on investment in Itech Minerals over 30 days. Itech Minerals is related to or competes with Hotel Property, Clime Investment, Australian United, Steamships Trading, Garda Diversified, Collins Foods, and Carlton Investments. Itech Minerals is entity of Australia. It is traded as Stock on AU exchange. More
Itech Minerals 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 Itech Minerals' 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 Itech Minerals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 18.83 | |||
| Value At Risk | (4.48) | |||
| Potential Upside | 6.94 |
Itech Minerals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Itech Minerals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Itech Minerals' standard deviation. In reality, there are many statistical measures that can use Itech Minerals historical prices to predict the future Itech Minerals' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.33) | |||
| Total Risk Alpha | (0.89) | |||
| Treynor Ratio | (0.70) |
Itech Minerals Backtested Returns
Itech Minerals holds Efficiency (Sharpe) Ratio of -0.0599, which attests that the entity had a -0.0599% return per unit of risk over the last 3 months. Itech Minerals exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Itech Minerals' Market Risk Adjusted Performance of (0.69), standard deviation of 3.66, and Risk Adjusted Performance of (0.05) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.4, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Itech Minerals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Itech Minerals is expected to be smaller as well. At this point, Itech Minerals has a negative expected return of -0.21%. Please make sure to check out Itech Minerals' jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Itech Minerals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.08 |
Virtually no predictability
Itech Minerals has virtually no predictability. Overlapping area represents the amount of predictability between Itech Minerals time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 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 Itech Minerals price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Itech Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Itech Minerals lagged returns against current returns
Autocorrelation, which is Itech Minerals 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 Itech Minerals' stock expected returns. We can calculate the autocorrelation of Itech Minerals returns to help us make a trade decision. For example, suppose you find that Itech Minerals 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 |
Itech Minerals 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 Itech Minerals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Itech Minerals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Itech Minerals stock over time.
Current vs Lagged Prices |
| Timeline |
Itech Minerals Lagged Returns
When evaluating Itech Minerals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Itech Minerals stock have on its future price. Itech Minerals 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, Itech Minerals autocorrelation shows the relationship between Itech Minerals stock current value and its past values and can show if there is a momentum factor associated with investing in Itech Minerals.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Itech Stock Analysis
When running Itech Minerals' price analysis, check to measure Itech Minerals' 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 Itech Minerals is operating at the current time. Most of Itech Minerals' value examination focuses on studying past and present price action to predict the probability of Itech Minerals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Itech Minerals' price. Additionally, you may evaluate how the addition of Itech Minerals to your portfolios can decrease your overall portfolio volatility.