Ngex Minerals Stock Market Value
| NGEX Stock | 12.35 0.28 2.22% |
| Symbol | NGEx |
NGEx Minerals Price To Book Ratio
NGEx 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 NGEx 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 NGEx Minerals.
| 11/18/2024 |
| 12/18/2024 |
If you would invest 0.00 in NGEx Minerals on November 18, 2024 and sell it all today you would earn a total of 0.00 from holding NGEx Minerals or generate 0.0% return on investment in NGEx Minerals over 30 days. NGEx Minerals is related to or competes with Teck Resources, Ivanhoe Mines, Filo Mining, Calibre Mining, Sigma Lithium, Foran Mining, and NGEx Minerals. NGEx Minerals is entity of Canada. It is traded as Stock on TO exchange. More
NGEx 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 NGEx 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 NGEx Minerals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.75 | |||
| Information Ratio | 0.1316 | |||
| Maximum Drawdown | 10.24 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 4.02 |
NGEx Minerals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NGEx Minerals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NGEx Minerals' standard deviation. In reality, there are many statistical measures that can use NGEx Minerals historical prices to predict the future NGEx Minerals' volatility.| Risk Adjusted Performance | 0.1241 | |||
| Jensen Alpha | 0.3541 | |||
| Total Risk Alpha | 0.1738 | |||
| Sortino Ratio | 0.1674 | |||
| Treynor Ratio | (7.64) |
NGEx Minerals Backtested Returns
NGEx Minerals appears to be not too volatile, given 3 months investment horizon. NGEx Minerals has Sharpe Ratio of 0.15, which conveys that the firm had a 0.15% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for NGEx Minerals, which you can use to evaluate the volatility of the firm. Please exercise NGEx Minerals' mean deviation of 1.84, and Risk Adjusted Performance of 0.1241 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NGEx Minerals holds a performance score of 12. The company secures a Beta (Market Risk) of -0.046, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NGEx Minerals are expected to decrease at a much lower rate. During the bear market, NGEx Minerals is likely to outperform the market. Please check NGEx Minerals' downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether NGEx Minerals' current price movements will revert.
Auto-correlation | -0.07 |
Very weak reverse predictability
NGEx Minerals has very weak reverse predictability. Overlapping area represents the amount of predictability between NGEx Minerals time series from 18th of November 2024 to 3rd of December 2024 and 3rd of December 2024 to 18th 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 NGEx Minerals price movement. The serial correlation of -0.07 indicates that barely 7.0% of current NGEx Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
NGEx Minerals lagged returns against current returns
Autocorrelation, which is NGEx 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 NGEx Minerals' stock expected returns. We can calculate the autocorrelation of NGEx Minerals returns to help us make a trade decision. For example, suppose you find that NGEx 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 |
NGEx 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 NGEx Minerals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NGEx Minerals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NGEx Minerals stock over time.
Current vs Lagged Prices |
| Timeline |
NGEx Minerals Lagged Returns
When evaluating NGEx Minerals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NGEx Minerals stock have on its future price. NGEx 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, NGEx Minerals autocorrelation shows the relationship between NGEx Minerals stock current value and its past values and can show if there is a momentum factor associated with investing in NGEx Minerals.
Regressed Prices |
| Timeline |
Pair Trading with NGEx Minerals
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 NGEx Minerals 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 NGEx Minerals will appreciate offsetting losses from the drop in the long position's value.Moving against NGEx Stock
The ability to find closely correlated positions to NGEx Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NGEx Minerals 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 NGEx Minerals - 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 NGEx Minerals to buy it.
The correlation of NGEx Minerals 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 NGEx Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NGEx Minerals 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 NGEx Minerals 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.Other Information on Investing in NGEx Stock
NGEx Minerals financial ratios help investors to determine whether NGEx Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in NGEx with respect to the benefits of owning NGEx Minerals security.