HudBay Historical Valuation
| HBM Stock | CAD 12.56 0.28 2.28% |
Some fundamental drivers such as market cap or HudBay Minerals enterprice value can be analyzed from historical perspective to project value of the company into the future. Some investors analyze HudBay Minerals valuation indicators such as Enterprise Value of 3 B to time the market or to short-sell their positions based on the trend in valuation ratios. It is a perfect tool to project the direction of HudBay Minerals's future value.
HudBay |
About HudBay Valuation Data Analysis
Valuation is the financial process of determining what HudBay Minerals is worth. HudBay Minerals valuation ratios put that insight into the context of a company's share price, where they serve as useful tools for evaluating and utilizing investment potential. HudBay Minerals valuation ratios help investors to determine whether HudBay 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 HudBay with respect to the benefits of owning HudBay Minerals security.
HudBay Minerals Valuation Data Chart
Enterprise Value
Enterprise Value (or EV) is usually referred to as HudBay Minerals theoretical takeover price. In the event of an acquisition, an acquirer would have to take on HudBay Minerals debt, but would also pocket its cash. Enterprise Value is more accurate representation of HudBay Minerals value than its market capitalization because it takes into account all of HudBay Minerals existing debt. A measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization that includes the market capitalization, plus total debt, minority interest and preferred shares, minus total cash and cash equivalents.Pair Trading with HudBay Minerals
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 HudBay Minerals 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 HudBay Minerals will appreciate offsetting losses from the drop in the long position's value.Moving together with HudBay Stock
| 0.82 | AG | First Majestic Silver | PairCorr |
| 0.85 | IE | Ivanhoe Energy | PairCorr |
| 0.86 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to HudBay Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HudBay Minerals 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 HudBay Minerals - 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 HudBay Minerals to buy it.
The correlation of HudBay Minerals 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 HudBay Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HudBay Minerals 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 HudBay Minerals 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HudBay Minerals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. To learn how to invest in HudBay Stock, please use our How to Invest in HudBay Minerals guide.You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.