Northgold (Sweden) Market Value
| NG Stock | 0.69 0.03 4.55% |
| Symbol | Northgold |
Northgold '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 Northgold'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 Northgold.
| 01/01/2025 |
| 03/02/2025 |
If you would invest 0.00 in Northgold on January 1, 2025 and sell it all today you would earn a total of 0.00 from holding Northgold AB or generate 0.0% return on investment in Northgold over 60 days. Northgold is related to or competes with Arctic Gold, BE Group, and Africa Oil. More
Northgold 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 Northgold'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 Northgold AB upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.73 | |||
| Information Ratio | 0.0236 | |||
| Maximum Drawdown | 45.45 | |||
| Value At Risk | (10.71) | |||
| Potential Upside | 14.0 |
Northgold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Northgold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Northgold's standard deviation. In reality, there are many statistical measures that can use Northgold historical prices to predict the future Northgold's volatility.| Risk Adjusted Performance | 0.0251 | |||
| Jensen Alpha | 0.1401 | |||
| Total Risk Alpha | 0.3848 | |||
| Sortino Ratio | 0.0261 | |||
| Treynor Ratio | (0.28) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Northgold's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Northgold AB Backtested Returns
Northgold appears to be out of control, given 3 months investment horizon. Northgold AB has Sharpe Ratio of 0.0308, which conveys that the firm had a 0.0308 % return per unit of risk over the last 3 months. We have found thirty technical indicators for Northgold, which you can use to evaluate the volatility of the firm. Please exercise Northgold's Risk Adjusted Performance of 0.0251, downside deviation of 6.73, and Mean Deviation of 5.76 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Northgold holds a performance score of 2. The company secures a Beta (Market Risk) of -0.54, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Northgold are expected to decrease at a much lower rate. During the bear market, Northgold is likely to outperform the market. Please check Northgold's potential upside, as well as the relationship between the kurtosis and day typical price , to make a quick decision on whether Northgold's current price movements will revert.
Auto-correlation | -0.53 |
Good reverse predictability
Northgold AB has good reverse predictability. Overlapping area represents the amount of predictability between Northgold time series from 1st of January 2025 to 31st of January 2025 and 31st of January 2025 to 2nd 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 Northgold AB price movement. The serial correlation of -0.53 indicates that about 53.0% of current Northgold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Northgold AB lagged returns against current returns
Autocorrelation, which is Northgold 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 Northgold's stock expected returns. We can calculate the autocorrelation of Northgold returns to help us make a trade decision. For example, suppose you find that Northgold 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 |
Northgold 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 Northgold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Northgold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Northgold stock over time.
Current vs Lagged Prices |
| Timeline |
Northgold Lagged Returns
When evaluating Northgold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Northgold stock have on its future price. Northgold 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, Northgold autocorrelation shows the relationship between Northgold stock current value and its past values and can show if there is a momentum factor associated with investing in Northgold AB.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Northgold Stock Analysis
When running Northgold's price analysis, check to measure Northgold'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 Northgold is operating at the current time. Most of Northgold's value examination focuses on studying past and present price action to predict the probability of Northgold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Northgold's price. Additionally, you may evaluate how the addition of Northgold to your portfolios can decrease your overall portfolio volatility.