Kenmare Resources (Ireland) Market Value
| KMR Stock | 4.94 0.04 0.82% |
| Symbol | Kenmare |
Kenmare 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 Kenmare 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 Kenmare Resources.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Kenmare Resources on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Kenmare Resources PLC or generate 0.0% return on investment in Kenmare Resources over 90 days. Kenmare Resources is related to or competes with AIB Group, Dalata Hotel, Uniphar Group, Greencoat Renewables, and Glanbia PLC. More
Kenmare 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 Kenmare 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 Kenmare Resources PLC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.02 | |||
| Information Ratio | 0.0879 | |||
| Maximum Drawdown | 43.13 | |||
| Value At Risk | (4.28) | |||
| Potential Upside | 4.28 |
Kenmare Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kenmare Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kenmare Resources' standard deviation. In reality, there are many statistical measures that can use Kenmare Resources historical prices to predict the future Kenmare Resources' volatility.| Risk Adjusted Performance | 0.0688 | |||
| Jensen Alpha | 0.2378 | |||
| Total Risk Alpha | 1.03 | |||
| Sortino Ratio | 0.1557 | |||
| Treynor Ratio | (0.32) |
Kenmare Resources PLC Backtested Returns
Kenmare Resources appears to be risky, given 3 months investment horizon. Kenmare Resources PLC has Sharpe Ratio of 0.0753, which conveys that the firm had a 0.0753 % return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Kenmare Resources, which you can use to evaluate the volatility of the firm. Please exercise Kenmare Resources' Mean Deviation of 2.18, risk adjusted performance of 0.0688, and Downside Deviation of 3.02 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kenmare Resources holds a performance score of 5. The company secures a Beta (Market Risk) of -1.14, which conveys a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Kenmare Resources are expected to decrease slowly. On the other hand, during market turmoil, Kenmare Resources is expected to outperform it slightly. Please check Kenmare Resources' value at risk, expected short fall, and the relationship between the treynor ratio and downside variance , to make a quick decision on whether Kenmare Resources' current price movements will revert.
Auto-correlation | -0.62 |
Very good reverse predictability
Kenmare Resources PLC has very good reverse predictability. Overlapping area represents the amount of predictability between Kenmare 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 Kenmare Resources PLC price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Kenmare Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 0.29 |
Kenmare Resources PLC lagged returns against current returns
Autocorrelation, which is Kenmare 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 Kenmare Resources' stock expected returns. We can calculate the autocorrelation of Kenmare Resources returns to help us make a trade decision. For example, suppose you find that Kenmare 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 |
Kenmare 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 Kenmare Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kenmare Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kenmare Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Kenmare Resources Lagged Returns
When evaluating Kenmare Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kenmare Resources stock have on its future price. Kenmare 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, Kenmare Resources autocorrelation shows the relationship between Kenmare Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Kenmare Resources PLC.
Regressed Prices |
| Timeline |
Pair Trading with Kenmare 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 Kenmare 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 Kenmare Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Kenmare Stock
The ability to find closely correlated positions to Kenmare 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 Kenmare 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 Kenmare 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 Kenmare Resources PLC to buy it.
The correlation of Kenmare 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 Kenmare Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kenmare Resources PLC 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 Kenmare 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.Additional Tools for Kenmare Stock Analysis
When running Kenmare Resources' price analysis, check to measure Kenmare Resources' 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 Kenmare Resources is operating at the current time. Most of Kenmare Resources' value examination focuses on studying past and present price action to predict the probability of Kenmare Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Kenmare Resources' price. Additionally, you may evaluate how the addition of Kenmare Resources to your portfolios can decrease your overall portfolio volatility.