Barrick Gold Corp Stock Market Value
| ABX Stock | CAD 23.36 0.03 0.13% |
| Symbol | Barrick |
Barrick Gold Corp Price To Book Ratio
Barrick Gold '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 Barrick Gold'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 Barrick Gold.
| 05/11/2022 |
| 04/30/2024 |
If you would invest 0.00 in Barrick Gold on May 11, 2022 and sell it all today you would earn a total of 0.00 from holding Barrick Gold Corp or generate 0.0% return on investment in Barrick Gold over 720 days. Barrick Gold is related to or competes with SilverCrest Metals, and Victoria Gold. Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper propertie... More
Barrick Gold 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 Barrick Gold'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 Barrick Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | 0.055 | |||
| Maximum Drawdown | 9.18 | |||
| Value At Risk | (2.68) | |||
| Potential Upside | 3.09 |
Barrick Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Barrick Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Barrick Gold's standard deviation. In reality, there are many statistical measures that can use Barrick Gold historical prices to predict the future Barrick Gold's volatility.| Risk Adjusted Performance | 0.0723 | |||
| Jensen Alpha | 0.1172 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.0544 | |||
| Treynor Ratio | 0.2362 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Barrick Gold'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.
Barrick Gold Corp Backtested Returns
Barrick Gold appears to be very steady, given 3 months investment horizon. Barrick Gold Corp secures Sharpe Ratio (or Efficiency) of 0.11, which signifies that the company had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for Barrick Gold Corp, which you can use to evaluate the volatility of the firm. Please makes use of Barrick Gold's Mean Deviation of 1.34, risk adjusted performance of 0.0723, and Downside Deviation of 1.78 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Barrick Gold holds a performance score of 8. The firm shows a Beta (market volatility) of 0.75, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Barrick Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Barrick Gold is expected to be smaller as well. Please check Barrick Gold's treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Barrick Gold's price patterns will revert.
Auto-correlation | 0.38 |
Below average predictability
Barrick Gold Corp has below average predictability. Overlapping area represents the amount of predictability between Barrick Gold time series from 11th of May 2022 to 6th of May 2023 and 6th of May 2023 to 30th 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 Barrick Gold Corp price movement. The serial correlation of 0.38 indicates that just about 38.0% of current Barrick Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.38 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 1.89 |
Barrick Gold Corp lagged returns against current returns
Autocorrelation, which is Barrick Gold 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 Barrick Gold's stock expected returns. We can calculate the autocorrelation of Barrick Gold returns to help us make a trade decision. For example, suppose you find that Barrick Gold 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 |
Barrick Gold 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 Barrick Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Barrick Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Barrick Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Barrick Gold Lagged Returns
When evaluating Barrick Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Barrick Gold stock have on its future price. Barrick Gold 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, Barrick Gold autocorrelation shows the relationship between Barrick Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Barrick Gold Corp.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Barrick Gold in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Barrick Gold's short interest history, or implied volatility extrapolated from Barrick Gold options trading.
Pair Trading with Barrick Gold
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 Barrick Gold 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 Barrick Gold will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Barrick Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Barrick Gold 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 Barrick Gold - 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 Barrick Gold Corp to buy it.
The correlation of Barrick Gold 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 Barrick Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Barrick Gold Corp 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 Barrick Gold 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 Barrick Gold Correlation, Barrick Gold Volatility and Barrick Gold Alpha and Beta module to complement your research on Barrick Gold. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
Complementary Tools for Barrick Stock analysis
When running Barrick Gold's price analysis, check to measure Barrick Gold'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 Barrick Gold is operating at the current time. Most of Barrick Gold's value examination focuses on studying past and present price action to predict the probability of Barrick Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Barrick Gold's price. Additionally, you may evaluate how the addition of Barrick Gold to your portfolios can decrease your overall portfolio volatility.
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Barrick Gold 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.