Silvercrest Metals Stock Market Value
| SIL Stock | 14.38 0.12 0.84% |
| Symbol | SilverCrest |
SilverCrest Metals Price To Book Ratio
SilverCrest Metals '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 SilverCrest Metals' 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 SilverCrest Metals.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in SilverCrest Metals on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding SilverCrest Metals or generate 0.0% return on investment in SilverCrest Metals over 30 days. SilverCrest Metals is related to or competes with Minaurum Gold, Dolly Varden, Santacruz Silv, and GoGold Resources. SilverCrest Metals is entity of Canada. It is traded as Stock on TO exchange. More
SilverCrest Metals 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 SilverCrest Metals' 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 SilverCrest Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.96 | |||
| Information Ratio | 0.0838 | |||
| Maximum Drawdown | 14.96 | |||
| Value At Risk | (4.74) | |||
| Potential Upside | 8.1 |
SilverCrest Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SilverCrest Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SilverCrest Metals' standard deviation. In reality, there are many statistical measures that can use SilverCrest Metals historical prices to predict the future SilverCrest Metals' volatility.| Risk Adjusted Performance | 0.1007 | |||
| Jensen Alpha | 0.1533 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.1033 | |||
| Treynor Ratio | 0.1973 |
SilverCrest Metals Backtested Returns
SilverCrest Metals appears to be somewhat reliable, given 3 months investment horizon. SilverCrest Metals owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.15, which indicates the firm had a 0.15% return per unit of risk over the last 3 months. By inspecting SilverCrest Metals' technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please review SilverCrest Metals' Coefficient Of Variation of 823.52, risk adjusted performance of 0.1007, and Semi Deviation of 2.71 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, SilverCrest Metals holds a performance score of 11. The entity has a beta of 2.2, which indicates 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, SilverCrest Metals will likely underperform. Please check SilverCrest Metals' treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether SilverCrest Metals' existing price patterns will revert.
Auto-correlation | -0.56 |
Good reverse predictability
SilverCrest Metals has good reverse predictability. Overlapping area represents the amount of predictability between SilverCrest Metals time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 SilverCrest Metals price movement. The serial correlation of -0.56 indicates that roughly 56.0% of current SilverCrest Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.56 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
SilverCrest Metals lagged returns against current returns
Autocorrelation, which is SilverCrest Metals 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 SilverCrest Metals' stock expected returns. We can calculate the autocorrelation of SilverCrest Metals returns to help us make a trade decision. For example, suppose you find that SilverCrest Metals 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 |
SilverCrest Metals 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 SilverCrest Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SilverCrest Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SilverCrest Metals stock over time.
Current vs Lagged Prices |
| Timeline |
SilverCrest Metals Lagged Returns
When evaluating SilverCrest Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SilverCrest Metals stock have on its future price. SilverCrest Metals 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, SilverCrest Metals autocorrelation shows the relationship between SilverCrest Metals stock current value and its past values and can show if there is a momentum factor associated with investing in SilverCrest Metals.
Regressed Prices |
| Timeline |
Pair Trading with SilverCrest Metals
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 SilverCrest Metals 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 SilverCrest Metals will appreciate offsetting losses from the drop in the long position's value.Moving together with SilverCrest Stock
| 0.91 | AG | First Majestic Silver | PairCorr |
| 0.84 | IE | Ivanhoe Energy | PairCorr |
| 0.83 | FDY | Faraday Copper Corp | PairCorr |
Moving against SilverCrest Stock
The ability to find closely correlated positions to SilverCrest Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SilverCrest Metals 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 SilverCrest Metals - 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 SilverCrest Metals to buy it.
The correlation of SilverCrest Metals 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 SilverCrest Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SilverCrest 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 SilverCrest Metals 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 SilverCrest Metals Correlation, SilverCrest Metals Volatility and SilverCrest Metals Alpha and Beta module to complement your research on SilverCrest Metals. To learn how to invest in SilverCrest Stock, please use our How to Invest in SilverCrest Metals guide.You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
SilverCrest Metals 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.