Platinum Group Metals Stock Market Value
| PTM Stock | CAD 2.39 0.16 7.17% |
| Symbol | Platinum |
Platinum Group Metals Price To Book Ratio
Platinum Group '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 Platinum Group'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 Platinum Group.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Platinum Group on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Platinum Group Metals or generate 0.0% return on investment in Platinum Group over 180 days. Platinum Group is related to or competes with Eastern Platinum, Entree Resources, Solitario Exploration, Minco Silver, and Americas Silver. Platinum Group Metals Ltd. engages in the exploration and development of platinum and palladium properties More
Platinum Group 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 Platinum Group'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 Platinum Group Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.88 | |||
| Information Ratio | 0.0997 | |||
| Maximum Drawdown | 26.15 | |||
| Value At Risk | (5.74) | |||
| Potential Upside | 9.13 |
Platinum Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Platinum Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Platinum Group's standard deviation. In reality, there are many statistical measures that can use Platinum Group historical prices to predict the future Platinum Group's volatility.| Risk Adjusted Performance | 0.1063 | |||
| Jensen Alpha | 0.4615 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | 0.1245 | |||
| Treynor Ratio | 0.5213 |
Platinum Group Metals Backtested Returns
Platinum Group appears to be dangerous, given 3 months investment horizon. Platinum Group Metals maintains Sharpe Ratio (i.e., Efficiency) of 0.15, which implies the firm had a 0.15% return per unit of risk over the last 3 months. By analyzing Platinum Group's technical indicators, you can evaluate if the expected return of 0.73% is justified by implied risk. Please evaluate Platinum Group's Semi Deviation of 3.36, coefficient of variation of 781.14, and Risk Adjusted Performance of 0.1063 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Platinum Group holds a performance score of 11. The company holds a Beta of 1.17, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Platinum Group will likely underperform. Please check Platinum Group's potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether Platinum Group's historical price patterns will revert.
Auto-correlation | -0.35 |
Poor reverse predictability
Platinum Group Metals has poor reverse predictability. Overlapping area represents the amount of predictability between Platinum Group time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Platinum Group Metals price movement. The serial correlation of -0.35 indicates that nearly 35.0% of current Platinum Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.35 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.11 |
Platinum Group Metals lagged returns against current returns
Autocorrelation, which is Platinum Group 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 Platinum Group's stock expected returns. We can calculate the autocorrelation of Platinum Group returns to help us make a trade decision. For example, suppose you find that Platinum Group 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 |
Platinum Group 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 Platinum Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Platinum Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Platinum Group stock over time.
Current vs Lagged Prices |
| Timeline |
Platinum Group Lagged Returns
When evaluating Platinum Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Platinum Group stock have on its future price. Platinum Group 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, Platinum Group autocorrelation shows the relationship between Platinum Group stock current value and its past values and can show if there is a momentum factor associated with investing in Platinum Group Metals.
Regressed Prices |
| Timeline |
Pair Trading with Platinum Group
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 Platinum Group 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 Platinum Group will appreciate offsetting losses from the drop in the long position's value.Moving together with Platinum Stock
| 0.91 | AG | First Majestic Silver | PairCorr |
| 0.91 | IE | Ivanhoe Energy | PairCorr |
| 0.81 | FDY | Faraday Copper Corp | PairCorr |
Moving against Platinum Stock
The ability to find closely correlated positions to Platinum Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Platinum Group 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 Platinum Group - 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 Platinum Group Metals to buy it.
The correlation of Platinum Group 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 Platinum Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Platinum Group Metals 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 Platinum Group 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 Platinum Group Correlation, Platinum Group Volatility and Platinum Group Alpha and Beta module to complement your research on Platinum Group. You can also try the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Platinum Group 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.