Summit Resources (Australia) Market Value
| SMM Stock | 0.01 0 6.25% |
| Symbol | Summit |
Summit Resources '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 Summit Resources' 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 Summit Resources.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in Summit Resources on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding Summit Resources Limited or generate 0.0% return on investment in Summit Resources over 390 days. Summit Resources is related to or competes with Northern Star, Evolution Mining, Bluescope Steel, Sandfire Resources, De Grey, Aneka Tambang, and Perseus Mining. Summit Resources is entity of Australia. It is traded as Stock on AU exchange. More
Summit Resources 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 Summit Resources' 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 Summit Resources Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 63.95 | |||
| Information Ratio | 0.3097 | |||
| Maximum Drawdown | 649.17 | |||
| Value At Risk | (80.00) | |||
| Potential Upside | 400.0 |
Summit Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Summit Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Summit Resources' standard deviation. In reality, there are many statistical measures that can use Summit Resources historical prices to predict the future Summit Resources' volatility.| Risk Adjusted Performance | 0.2354 | |||
| Jensen Alpha | 42.83 | |||
| Total Risk Alpha | 25.05 | |||
| Sortino Ratio | 0.7125 | |||
| Treynor Ratio | 1.64 |
Summit Resources Backtested Returns
Summit Resources is out of control given 3 months investment horizon. Summit Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.29, which indicates the firm had a 0.29% return per unit of risk over the last 3 months. We have collected data for twenty-nine different technical indicators, which can help you to evaluate if expected returns of 40.86% are justified by taking the suggested risk. Use Summit Resources Coefficient Of Variation of 322.15, risk adjusted performance of 0.2354, and Semi Deviation of 30.84 to evaluate company specific risk that cannot be diversified away. Summit Resources holds a performance score of 22 on a scale of zero to a hundred. The entity has a beta of 27.86, 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, Summit Resources will likely underperform. Use Summit Resources sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to analyze future returns on Summit Resources.
Auto-correlation | 0.04 |
Virtually no predictability
Summit Resources Limited has virtually no predictability. Overlapping area represents the amount of predictability between Summit Resources time series from 19th of November 2023 to 1st of June 2024 and 1st of June 2024 to 13th 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 Summit Resources price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Summit Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Summit Resources lagged returns against current returns
Autocorrelation, which is Summit Resources 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 Summit Resources' stock expected returns. We can calculate the autocorrelation of Summit Resources returns to help us make a trade decision. For example, suppose you find that Summit Resources 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 |
Summit Resources 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 Summit Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Summit Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Summit Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Summit Resources Lagged Returns
When evaluating Summit Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Summit Resources stock have on its future price. Summit Resources 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, Summit Resources autocorrelation shows the relationship between Summit Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Summit Resources Limited.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Summit Stock Analysis
When running Summit Resources' price analysis, check to measure Summit Resources' 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 Summit Resources is operating at the current time. Most of Summit Resources' value examination focuses on studying past and present price action to predict the probability of Summit Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Summit Resources' price. Additionally, you may evaluate how the addition of Summit Resources to your portfolios can decrease your overall portfolio volatility.