Wheaton Precious Metals Stock Market Value
| WPM Stock | CAD 87.12 0.28 0.32% |
| Symbol | Wheaton |
Wheaton Precious Metals Price To Book Ratio
Wheaton Precious '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 Wheaton Precious' 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 Wheaton Precious.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Wheaton Precious on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Wheaton Precious Metals or generate 0.0% return on investment in Wheaton Precious over 540 days. Wheaton Precious is related to or competes with Franco Nevada, Pan American, Agnico Eagle, and Sandstorm Gold. Wheaton Precious Metals Corp., a mining company, primarily sells precious metals in Canada and internationally More
Wheaton Precious 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 Wheaton Precious' 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 Wheaton Precious Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.97 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 10.49 | |||
| Value At Risk | (2.86) | |||
| Potential Upside | 2.63 |
Wheaton Precious Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wheaton Precious' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wheaton Precious' standard deviation. In reality, there are many statistical measures that can use Wheaton Precious historical prices to predict the future Wheaton Precious' volatility.| Risk Adjusted Performance | 0.0345 | |||
| Jensen Alpha | 0.0261 | |||
| Total Risk Alpha | (0.22) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.2067 |
Wheaton Precious Metals Backtested Returns
As of now, Wheaton Stock is very steady. Wheaton Precious Metals shows Sharpe Ratio of 0.0707, which attests that the company had a 0.0707% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Wheaton Precious Metals, which you can use to evaluate the volatility of the company. Please check out Wheaton Precious' Market Risk Adjusted Performance of 0.2167, downside deviation of 1.97, and Mean Deviation of 1.39 to validate if the risk estimate we provide is consistent with the expected return of 0.13%. Wheaton Precious has a performance score of 5 on a scale of 0 to 100. The firm maintains a market beta of 0.29, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Wheaton Precious' returns are expected to increase less than the market. However, during the bear market, the loss of holding Wheaton Precious is expected to be smaller as well. Wheaton Precious Metals right now maintains a risk of 1.85%. Please check out Wheaton Precious Metals total risk alpha, expected short fall, price action indicator, as well as the relationship between the value at risk and daily balance of power , to decide if Wheaton Precious Metals will be following its historical returns.
Auto-correlation | 0.51 |
Modest predictability
Wheaton Precious Metals has modest predictability. Overlapping area represents the amount of predictability between Wheaton Precious time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Wheaton Precious Metals price movement. The serial correlation of 0.51 indicates that about 51.0% of current Wheaton Precious price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 74.32 |
Wheaton Precious Metals lagged returns against current returns
Autocorrelation, which is Wheaton Precious 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 Wheaton Precious' stock expected returns. We can calculate the autocorrelation of Wheaton Precious returns to help us make a trade decision. For example, suppose you find that Wheaton Precious 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 |
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Wheaton Precious 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 Wheaton Precious stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wheaton Precious stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wheaton Precious stock over time.
Current vs Lagged Prices |
| Timeline |
Wheaton Precious Lagged Returns
When evaluating Wheaton Precious' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wheaton Precious stock have on its future price. Wheaton Precious 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, Wheaton Precious autocorrelation shows the relationship between Wheaton Precious stock current value and its past values and can show if there is a momentum factor associated with investing in Wheaton Precious Metals.
Regressed Prices |
| Timeline |
Pair Trading with Wheaton Precious
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 Wheaton Precious 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 Wheaton Precious will appreciate offsetting losses from the drop in the long position's value.Moving together with Wheaton Stock
| 0.89 | AG | First Majestic Silver | PairCorr |
| 0.73 | IE | Ivanhoe Energy | PairCorr |
| 0.61 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Wheaton Precious could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wheaton Precious 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 Wheaton Precious - 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 Wheaton Precious Metals to buy it.
The correlation of Wheaton Precious 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 Wheaton Precious moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wheaton Precious 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 Wheaton Precious 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 Wheaton Precious Correlation, Wheaton Precious Volatility and Wheaton Precious Alpha and Beta module to complement your research on Wheaton Precious. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
Wheaton Precious 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.