Macdonald Mines Exploration Stock Market Value
| BMK Stock | CAD 0.04 0.01 20.00% |
| Symbol | MacDonald |
MacDonald Mines Expl Price To Book Ratio
MacDonald Mines '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 MacDonald Mines' 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 MacDonald Mines.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in MacDonald Mines on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding MacDonald Mines Exploration or generate 0.0% return on investment in MacDonald Mines over 30 days. MacDonald Mines Exploration Ltd., an exploration stage company, engages in the identification, acquisition, exploration,... More
MacDonald Mines 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 MacDonald Mines' 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 MacDonald Mines Exploration upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 18.49 | |||
| Information Ratio | (0.0008) | |||
| Maximum Drawdown | 45.0 | |||
| Value At Risk | (16.67) | |||
| Potential Upside | 20.0 |
MacDonald Mines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MacDonald Mines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MacDonald Mines' standard deviation. In reality, there are many statistical measures that can use MacDonald Mines historical prices to predict the future MacDonald Mines' volatility.| Risk Adjusted Performance | 0.0135 | |||
| Jensen Alpha | 0.0333 | |||
| Total Risk Alpha | (0.80) | |||
| Sortino Ratio | (0.0004) | |||
| Treynor Ratio | 0.1665 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of MacDonald Mines' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
MacDonald Mines Expl Backtested Returns
We consider MacDonald Mines out of control. MacDonald Mines Expl has Sharpe Ratio of 0.0013, which conveys that the firm had a 0.0013% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for MacDonald Mines, which you can use to evaluate the volatility of the firm. Please verify MacDonald Mines' Downside Deviation of 18.49, risk adjusted performance of 0.0135, and Mean Deviation of 4.28 to check out if the risk estimate we provide is consistent with the expected return of 0.0115%. The company secures a Beta (Market Risk) of 0.31, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, MacDonald Mines' returns are expected to increase less than the market. However, during the bear market, the loss of holding MacDonald Mines is expected to be smaller as well. MacDonald Mines Expl right now secures a risk of 8.7%. Please verify MacDonald Mines Exploration value at risk, rate of daily change, and the relationship between the total risk alpha and expected short fall , to decide if MacDonald Mines Exploration will be following its current price movements.
Auto-correlation | -0.1 |
Very weak reverse predictability
MacDonald Mines Exploration has very weak reverse predictability. Overlapping area represents the amount of predictability between MacDonald Mines time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 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 MacDonald Mines Expl price movement. The serial correlation of -0.1 indicates that less than 10.0% of current MacDonald Mines price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | -0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
MacDonald Mines Expl lagged returns against current returns
Autocorrelation, which is MacDonald Mines 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 MacDonald Mines' stock expected returns. We can calculate the autocorrelation of MacDonald Mines returns to help us make a trade decision. For example, suppose you find that MacDonald Mines 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 |
MacDonald Mines 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 MacDonald Mines stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MacDonald Mines stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MacDonald Mines stock over time.
Current vs Lagged Prices |
| Timeline |
MacDonald Mines Lagged Returns
When evaluating MacDonald Mines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MacDonald Mines stock have on its future price. MacDonald Mines 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, MacDonald Mines autocorrelation shows the relationship between MacDonald Mines stock current value and its past values and can show if there is a momentum factor associated with investing in MacDonald Mines Exploration.
Regressed Prices |
| Timeline |
Pair Trading with MacDonald Mines
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 MacDonald Mines 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 MacDonald Mines will appreciate offsetting losses from the drop in the long position's value.Moving against MacDonald Stock
| 0.51 | TD-PFI | Toronto Dominion Bank | PairCorr |
The ability to find closely correlated positions to MacDonald Mines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MacDonald Mines 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 MacDonald Mines - 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 MacDonald Mines Exploration to buy it.
The correlation of MacDonald Mines 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 MacDonald Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MacDonald Mines Expl 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 MacDonald Mines 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 MacDonald Mines Correlation, MacDonald Mines Volatility and MacDonald Mines Alpha and Beta module to complement your research on MacDonald Mines. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Complementary Tools for MacDonald Stock analysis
When running MacDonald Mines' price analysis, check to measure MacDonald Mines' 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 MacDonald Mines is operating at the current time. Most of MacDonald Mines' value examination focuses on studying past and present price action to predict the probability of MacDonald Mines' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MacDonald Mines' price. Additionally, you may evaluate how the addition of MacDonald Mines to your portfolios can decrease your overall portfolio volatility.
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MacDonald Mines 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.