True North (Australia) Market Value
| TNC Stock | 0.03 0.00 0.00% |
| Symbol | True |
True North '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 True North'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 True North.
| 12/03/2023 |
| 12/27/2024 |
If you would invest 0.00 in True North on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding True North Copper or generate 0.0% return on investment in True North over 390 days. True North is related to or competes with Northern Star, Evolution Mining, Bluescope Steel, Sandfire Resources, De Grey, and Perseus Mining. True North is entity of Australia. It is traded as Stock on AU exchange. More
True North 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 True North'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 True North Copper upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 17.42 | |||
| Value At Risk | (5.26) | |||
| Potential Upside | 3.7 |
True North Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for True North's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as True North's standard deviation. In reality, there are many statistical measures that can use True North historical prices to predict the future True North's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | 0.4311 |
True North Copper Backtested Returns
True North Copper owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0629, which indicates the firm had a -0.0629% return per unit of risk over the last 3 months. True North Copper exposes eighteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate True North's Variance of 7.34, coefficient of variation of (2,497), and Risk Adjusted Performance of (0.02) to confirm the risk estimate we provide. The entity has a beta of -0.27, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning True North are expected to decrease at a much lower rate. During the bear market, True North is likely to outperform the market. At this point, True North Copper has a negative expected return of -0.13%. Please make sure to validate True North's standard deviation, information ratio, and the relationship between the coefficient of variation and variance , to decide if True North Copper performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.54 |
Modest predictability
True North Copper has modest predictability. Overlapping area represents the amount of predictability between True North time series from 3rd of December 2023 to 15th of June 2024 and 15th of June 2024 to 27th 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 True North Copper price movement. The serial correlation of 0.54 indicates that about 54.0% of current True North price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
True North Copper lagged returns against current returns
Autocorrelation, which is True North 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 True North's stock expected returns. We can calculate the autocorrelation of True North returns to help us make a trade decision. For example, suppose you find that True North 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 |
True North 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 True North stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if True North stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in True North stock over time.
Current vs Lagged Prices |
| Timeline |
True North Lagged Returns
When evaluating True North's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of True North stock have on its future price. True North 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, True North autocorrelation shows the relationship between True North stock current value and its past values and can show if there is a momentum factor associated with investing in True North Copper.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for True Stock Analysis
When running True North's price analysis, check to measure True North's 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 True North is operating at the current time. Most of True North's value examination focuses on studying past and present price action to predict the probability of True North's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move True North's price. Additionally, you may evaluate how the addition of True North to your portfolios can decrease your overall portfolio volatility.