Drdgold Limited Adr Stock Market Value
DRD Stock | USD 7.82 0.07 0.89% |
Symbol | DRDGOLD |
DRDGOLD Limited ADR Price To Book Ratio
Is DRDGOLD Limited's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of DRDGOLD Limited. If investors know DRDGOLD will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about DRDGOLD Limited listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.095 | Dividend Share 8.5 | Earnings Share 0.77 | Revenue Per Share 67.565 | Quarterly Revenue Growth 0.121 |
The market value of DRDGOLD Limited ADR is measured differently than its book value, which is the value of DRDGOLD that is recorded on the company's balance sheet. Investors also form their own opinion of DRDGOLD Limited's value that differs from its market value or its book value, called intrinsic value, which is DRDGOLD Limited's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because DRDGOLD Limited's market value can be influenced by many factors that don't directly affect DRDGOLD Limited's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between DRDGOLD Limited's value and its price as these two are different measures arrived at by different means. Investors typically determine if DRDGOLD Limited is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, DRDGOLD Limited's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
DRDGOLD Limited '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 DRDGOLD Limited'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 DRDGOLD Limited.
03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in DRDGOLD Limited on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding DRDGOLD Limited ADR or generate 0.0% return on investment in DRDGOLD Limited over 30 days. DRDGOLD Limited is related to or competes with Fortitude Gold, and GoldMining. DRDGOLD Limited, a gold mining company, engages in the surface gold tailings retreatment business in South Africa More
DRDGOLD Limited 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 DRDGOLD Limited'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 DRDGOLD Limited ADR upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 2.92 | |||
Information Ratio | 0.0211 | |||
Maximum Drawdown | 17.15 | |||
Value At Risk | (3.99) | |||
Potential Upside | 5.23 |
DRDGOLD Limited Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DRDGOLD Limited's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DRDGOLD Limited's standard deviation. In reality, there are many statistical measures that can use DRDGOLD Limited historical prices to predict the future DRDGOLD Limited's volatility.Risk Adjusted Performance | 0.0388 | |||
Jensen Alpha | (0.01) | |||
Total Risk Alpha | (0.24) | |||
Sortino Ratio | 0.0225 | |||
Treynor Ratio | 0.0745 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of DRDGOLD Limited's 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.
DRDGOLD Limited ADR Backtested Returns
We consider DRDGOLD Limited somewhat reliable. DRDGOLD Limited ADR secures Sharpe Ratio (or Efficiency) of 0.0253, which denotes the company had a 0.0253% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for DRDGOLD Limited ADR, which you can use to evaluate the volatility of the firm. Please confirm DRDGOLD Limited's Mean Deviation of 2.28, coefficient of variation of 2025.63, and Downside Deviation of 2.92 to check if the risk estimate we provide is consistent with the expected return of 0.0803%. DRDGOLD Limited has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.93, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, DRDGOLD Limited will likely underperform. DRDGOLD Limited ADR now shows a risk of 3.17%. Please confirm DRDGOLD Limited ADR treynor ratio, expected short fall, and the relationship between the jensen alpha and potential upside , to decide if DRDGOLD Limited ADR will be following its price patterns.
Auto-correlation | -0.59 |
Good reverse predictability
DRDGOLD Limited ADR has good reverse predictability. Overlapping area represents the amount of predictability between DRDGOLD Limited time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 DRDGOLD Limited ADR price movement. The serial correlation of -0.59 indicates that roughly 59.0% of current DRDGOLD Limited price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.59 | |
Spearman Rank Test | -0.39 | |
Residual Average | 0.0 | |
Price Variance | 0.1 |
DRDGOLD Limited ADR lagged returns against current returns
Autocorrelation, which is DRDGOLD Limited 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 DRDGOLD Limited's stock expected returns. We can calculate the autocorrelation of DRDGOLD Limited returns to help us make a trade decision. For example, suppose you find that DRDGOLD Limited 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 |
DRDGOLD Limited 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 DRDGOLD Limited stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DRDGOLD Limited stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DRDGOLD Limited stock over time.
Current vs Lagged Prices |
Timeline |
DRDGOLD Limited Lagged Returns
When evaluating DRDGOLD Limited's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DRDGOLD Limited stock have on its future price. DRDGOLD Limited 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, DRDGOLD Limited autocorrelation shows the relationship between DRDGOLD Limited stock current value and its past values and can show if there is a momentum factor associated with investing in DRDGOLD Limited ADR.
Regressed Prices |
Timeline |
Pair Trading with DRDGOLD Limited
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 DRDGOLD Limited 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 DRDGOLD Limited will appreciate offsetting losses from the drop in the long position's value.Moving together with DRDGOLD Stock
0.85 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
0.8 | AG | First Majestic Silver Earnings Call This Week | PairCorr |
0.84 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
Moving against DRDGOLD Stock
0.63 | NC | NACCO Industries Earnings Call This Week | PairCorr |
0.61 | VALE | Vale SA ADR Aggressive Push | PairCorr |
0.6 | X | United States Steel Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to DRDGOLD Limited could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DRDGOLD Limited 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 DRDGOLD Limited - 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 DRDGOLD Limited ADR to buy it.
The correlation of DRDGOLD Limited 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 DRDGOLD Limited moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DRDGOLD Limited ADR 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 DRDGOLD Limited 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 DRDGOLD Limited Correlation, DRDGOLD Limited Volatility and DRDGOLD Limited Alpha and Beta module to complement your research on DRDGOLD Limited. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Complementary Tools for DRDGOLD Stock analysis
When running DRDGOLD Limited's price analysis, check to measure DRDGOLD Limited'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 DRDGOLD Limited is operating at the current time. Most of DRDGOLD Limited's value examination focuses on studying past and present price action to predict the probability of DRDGOLD Limited's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move DRDGOLD Limited's price. Additionally, you may evaluate how the addition of DRDGOLD Limited to your portfolios can decrease your overall portfolio volatility.
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DRDGOLD Limited 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.