Pan American Silver Stock Market Value
| PAAS Stock | CAD 31.06 0.23 0.75% |
| Symbol | Pan |
Pan American Silver Price To Book Ratio
Pan American '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 Pan American'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 Pan American.
| 12/05/2023 |
| 11/29/2024 |
If you would invest 0.00 in Pan American on December 5, 2023 and sell it all today you would earn a total of 0.00 from holding Pan American Silver or generate 0.0% return on investment in Pan American over 360 days. Pan American is related to or competes with Bank of Nova Scotia, Canadian Imperial, NextSource Materials, Richelieu Hardware, Electra Battery, North American, and Canso Credit. Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processi... More
Pan American 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 Pan American'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 Pan American Silver upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.31 | |||
| Information Ratio | 0.0115 | |||
| Maximum Drawdown | 14.72 | |||
| Value At Risk | (3.85) | |||
| Potential Upside | 5.93 |
Pan American Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pan American's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pan American's standard deviation. In reality, there are many statistical measures that can use Pan American historical prices to predict the future Pan American's volatility.| Risk Adjusted Performance | 0.05 | |||
| Jensen Alpha | 0.0343 | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | 0.0142 | |||
| Treynor Ratio | 0.1502 |
Pan American Silver Backtested Returns
Pan American appears to be very steady, given 3 months investment horizon. Pan American Silver maintains Sharpe Ratio (i.e., Efficiency) of 0.12, which implies the firm had a 0.12% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Pan American Silver, which you can use to evaluate the volatility of the company. Please evaluate Pan American's Risk Adjusted Performance of 0.05, semi deviation of 2.2, and Coefficient Of Variation of 1795.26 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Pan American holds a performance score of 9. The company holds a Beta of 0.99, which implies possible diversification benefits within a given portfolio. Pan American returns are very sensitive to returns on the market. As the market goes up or down, Pan American is expected to follow. Please check Pan American's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Pan American's historical price patterns will revert.
Auto-correlation | 0.50 |
Modest predictability
Pan American Silver has modest predictability. Overlapping area represents the amount of predictability between Pan American time series from 5th of December 2023 to 2nd of June 2024 and 2nd of June 2024 to 29th of November 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 Pan American Silver price movement. The serial correlation of 0.5 indicates that about 50.0% of current Pan American price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 5.26 |
Pan American Silver lagged returns against current returns
Autocorrelation, which is Pan American 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 Pan American's stock expected returns. We can calculate the autocorrelation of Pan American returns to help us make a trade decision. For example, suppose you find that Pan American 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 |
Pan American 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 Pan American stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pan American stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pan American stock over time.
Current vs Lagged Prices |
| Timeline |
Pan American Lagged Returns
When evaluating Pan American's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pan American stock have on its future price. Pan American 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, Pan American autocorrelation shows the relationship between Pan American stock current value and its past values and can show if there is a momentum factor associated with investing in Pan American Silver.
Regressed Prices |
| Timeline |
Pair Trading with Pan American
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 Pan American 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 Pan American will appreciate offsetting losses from the drop in the long position's value.Moving together with Pan Stock
| 0.97 | AG | First Majestic Silver | PairCorr |
| 0.84 | IE | Ivanhoe Energy | PairCorr |
| 0.8 | FDY | Faraday Copper Corp | PairCorr |
Moving against Pan Stock
The ability to find closely correlated positions to Pan American could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pan American 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 Pan American - 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 Pan American Silver to buy it.
The correlation of Pan American 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 Pan American moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pan American Silver 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 Pan American 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.Check out Pan American Correlation, Pan American Volatility and Pan American Alpha and Beta module to complement your research on Pan American. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Pan American technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.