Solgold Plc Stock Market Value
| SOLG Stock | CAD 0.14 0.00 0.00% |
| Symbol | SolGold |
SolGold PLC Price To Book Ratio
SolGold PLC '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 SolGold PLC'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 SolGold PLC.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in SolGold PLC on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding SolGold PLC or generate 0.0% return on investment in SolGold PLC over 720 days. SolGold PLC is related to or competes with Lundin Gold, Trilogy Metals, Solaris Resources, Tudor Gold, and Ascot Resources. SolGold Plc, together with its subsidiaries, engages in the exploration of mineral properties in Ecuador, Australia, and... More
SolGold PLC 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 SolGold PLC'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 SolGold PLC upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 18.43 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 5.56 |
SolGold PLC Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SolGold PLC's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SolGold PLC's standard deviation. In reality, there are many statistical measures that can use SolGold PLC historical prices to predict the future SolGold PLC's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.43) | |||
| Total Risk Alpha | (0.90) | |||
| Treynor Ratio | (0.43) |
SolGold PLC Backtested Returns
SolGold PLC owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0733, which indicates the firm had a -0.0733% return per unit of risk over the last 3 months. SolGold PLC exposes eighteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SolGold PLC's Risk Adjusted Performance of (0.07), coefficient of variation of (1,045), and Variance of 11.46 to confirm the risk estimate we provide. The entity has a beta of 0.79, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, SolGold PLC's returns are expected to increase less than the market. However, during the bear market, the loss of holding SolGold PLC is expected to be smaller as well. At this point, SolGold PLC has a negative expected return of -0.25%. Please make sure to validate SolGold PLC's jensen alpha, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if SolGold PLC performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.03 |
Very weak reverse predictability
SolGold PLC has very weak reverse predictability. Overlapping area represents the amount of predictability between SolGold PLC time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 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 SolGold PLC price movement. The serial correlation of -0.03 indicates that only 3.0% of current SolGold PLC price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
SolGold PLC lagged returns against current returns
Autocorrelation, which is SolGold PLC 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 SolGold PLC's stock expected returns. We can calculate the autocorrelation of SolGold PLC returns to help us make a trade decision. For example, suppose you find that SolGold PLC 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 |
SolGold PLC 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 SolGold PLC stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SolGold PLC stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SolGold PLC stock over time.
Current vs Lagged Prices |
| Timeline |
SolGold PLC Lagged Returns
When evaluating SolGold PLC's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SolGold PLC stock have on its future price. SolGold PLC 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, SolGold PLC autocorrelation shows the relationship between SolGold PLC stock current value and its past values and can show if there is a momentum factor associated with investing in SolGold PLC.
Regressed Prices |
| Timeline |
Pair Trading with SolGold PLC
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 SolGold PLC 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 SolGold PLC will appreciate offsetting losses from the drop in the long position's value.Moving together with SolGold Stock
Moving against SolGold Stock
| 0.5 | IE | Ivanhoe Energy | PairCorr |
| 0.42 | FDY | Faraday Copper Corp | PairCorr |
| 0.35 | DFR | Diamond Fields Resources | PairCorr |
The ability to find closely correlated positions to SolGold PLC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SolGold PLC 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 SolGold PLC - 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 SolGold PLC to buy it.
The correlation of SolGold PLC 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 SolGold PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SolGold PLC 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 SolGold PLC 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.Other Information on Investing in SolGold Stock
SolGold PLC financial ratios help investors to determine whether SolGold Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in SolGold with respect to the benefits of owning SolGold PLC security.