Noram Lithium Corp Stock Market Value
| NRM Stock | CAD 0.13 0.00 0.00% |
| Symbol | Noram |
Noram Lithium Corp Price To Book Ratio
Noram Lithium '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 Noram Lithium'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 Noram Lithium.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Noram Lithium on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Noram Lithium Corp or generate 0.0% return on investment in Noram Lithium over 210 days. Noram Lithium is related to or competes with Algoma Steel, Champion Iron, European Residential, Financial, Rubicon Organics, Linamar, and Amazon CDR. Noram Ventures Inc., a junior exploration company, engages in the identification, acquisition, exploration, and developm... More
Noram Lithium 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 Noram Lithium'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 Noram Lithium Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 26.79 | |||
| Value At Risk | (7.69) | |||
| Potential Upside | 7.69 |
Noram Lithium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Noram Lithium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Noram Lithium's standard deviation. In reality, there are many statistical measures that can use Noram Lithium historical prices to predict the future Noram Lithium's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (1.07) | |||
| Treynor Ratio | 0.4326 |
Noram Lithium Corp Backtested Returns
Noram Lithium Corp has Sharpe Ratio of -0.0493, which conveys that the firm had a -0.0493% return per unit of risk over the last 3 months. Noram Lithium exposes eighteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Noram Lithium's Mean Deviation of 2.53, risk adjusted performance of (0.04), and Standard Deviation of 4.52 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.73, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Noram Lithium are expected to decrease at a much lower rate. During the bear market, Noram Lithium is likely to outperform the market. At this point, Noram Lithium Corp has a negative expected return of -0.23%. Please make sure to verify Noram Lithium's maximum drawdown and kurtosis , to decide if Noram Lithium Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.37 |
Poor reverse predictability
Noram Lithium Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Noram Lithium time series from 6th of May 2024 to 19th of August 2024 and 19th of August 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 Noram Lithium Corp price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Noram Lithium price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Noram Lithium Corp lagged returns against current returns
Autocorrelation, which is Noram Lithium 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 Noram Lithium's stock expected returns. We can calculate the autocorrelation of Noram Lithium returns to help us make a trade decision. For example, suppose you find that Noram Lithium 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 |
Noram Lithium 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 Noram Lithium stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Noram Lithium stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Noram Lithium stock over time.
Current vs Lagged Prices |
| Timeline |
Noram Lithium Lagged Returns
When evaluating Noram Lithium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Noram Lithium stock have on its future price. Noram Lithium 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, Noram Lithium autocorrelation shows the relationship between Noram Lithium stock current value and its past values and can show if there is a momentum factor associated with investing in Noram Lithium Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Noram Stock Analysis
When running Noram Lithium's price analysis, check to measure Noram Lithium'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 Noram Lithium is operating at the current time. Most of Noram Lithium's value examination focuses on studying past and present price action to predict the probability of Noram Lithium's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Noram Lithium's price. Additionally, you may evaluate how the addition of Noram Lithium to your portfolios can decrease your overall portfolio volatility.