Gold Road Resources Stock Market Value
| ELKMF Stock | USD 1.05 0.02 1.87% |
| Symbol | Gold |
Gold Road '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 Gold Road's pink sheet 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 Gold Road.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Gold Road on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Gold Road Resources or generate 0.0% return on investment in Gold Road over 30 days. Gold Road is related to or competes with Osisko Mining, Almadex Minerals, Galiano Gold, and US Gold. Gold Road Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral prope... More
Gold Road 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 Gold Road's pink sheet 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 Gold Road Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 22.53 | |||
| Value At Risk | (5.71) | |||
| Potential Upside | 3.96 |
Gold Road Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gold Road's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gold Road's standard deviation. In reality, there are many statistical measures that can use Gold Road historical prices to predict the future Gold Road's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.44) | |||
| Treynor Ratio | 2.7 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Gold Road'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.
Gold Road Resources Backtested Returns
Gold Road Resources holds Efficiency (Sharpe) Ratio of -0.0324, which attests that the entity had a -0.0324% return per unit of risk over the last 3 months. Gold Road Resources exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Gold Road's Standard Deviation of 3.38, risk adjusted performance of (0.01), and Market Risk Adjusted Performance of 2.71 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0433, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Gold Road are expected to decrease at a much lower rate. During the bear market, Gold Road is likely to outperform the market. Gold Road Resources has an expected return of -0.11%. Please make sure to check out Gold Road day median price, period momentum indicator, as well as the relationship between the kurtosis and maximum drawdown , to decide if Gold Road Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.3 |
Weak reverse predictability
Gold Road Resources has weak reverse predictability. Overlapping area represents the amount of predictability between Gold Road 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 Gold Road Resources price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current Gold Road price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Gold Road Resources lagged returns against current returns
Autocorrelation, which is Gold Road pink sheet'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 Gold Road's pink sheet expected returns. We can calculate the autocorrelation of Gold Road returns to help us make a trade decision. For example, suppose you find that Gold Road has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Gold Road 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 Gold Road pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gold Road pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gold Road pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Gold Road Lagged Returns
When evaluating Gold Road's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gold Road pink sheet have on its future price. Gold Road 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, Gold Road autocorrelation shows the relationship between Gold Road pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Gold Road Resources.
Regressed Prices |
| Timeline |
Pair Trading with Gold Road
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 Gold Road 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 Gold Road will appreciate offsetting losses from the drop in the long position's value.Moving together with Gold Pink Sheet
| 0.61 | NEM | Newmont Goldcorp Corp Earnings Call This Week | PairCorr |
| 0.63 | GOLD | Barrick Gold Corp Financial Report 1st of May 2024 | PairCorr |
Moving against Gold Pink Sheet
| 0.62 | PPERY | Bank Mandiri Persero Earnings Call This Week | PairCorr |
| 0.53 | TLKMF | Telkom Indonesia Tbk | PairCorr |
| 0.48 | BKRKY | Bank Rakyat Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Gold Road could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gold Road 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 Gold Road - 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 Gold Road Resources to buy it.
The correlation of Gold Road 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 Gold Road moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gold Road Resources 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 Gold Road 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 Gold Road Correlation, Gold Road Volatility and Gold Road Alpha and Beta module to complement your research on Gold Road. You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Complementary Tools for Gold Pink Sheet analysis
When running Gold Road's price analysis, check to measure Gold Road'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 Gold Road is operating at the current time. Most of Gold Road's value examination focuses on studying past and present price action to predict the probability of Gold Road's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gold Road's price. Additionally, you may evaluate how the addition of Gold Road to your portfolios can decrease your overall portfolio volatility.
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |
Gold Road technical pink sheet 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, pink sheet market cycles, or different charting patterns.