African Metals Stock Market Value
| AFR Stock | CAD 0.01 0.01 33.33% |
| Symbol | African |
African Metals '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 African Metals' 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 African Metals.
| 03/24/2024 |
| 05/23/2024 |
If you would invest 0.00 in African Metals on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding African Metals or generate 0.0% return on investment in African Metals over 60 days. African Metals is related to or competes with Constellation Software, Gfl Environmental, Gatos Silver, Chemtrade Logistics, Mako Mining, DIRTT Environmental, and Indigo Books. African Metals Corporationration, an exploration stage company, engages in the exploration and development of natural resource properties in the Democratic Republic of the Congo. More
African Metals 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 African Metals' 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 African Metals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0196 | |||
| Maximum Drawdown | 133.33 | |||
| Value At Risk | (25.00) |
African Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for African Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as African Metals' standard deviation. In reality, there are many statistical measures that can use African Metals historical prices to predict the future African Metals' volatility.| Risk Adjusted Performance | 0.0237 | |||
| Jensen Alpha | 0.5906 | |||
| Total Risk Alpha | (1.54) | |||
| Treynor Ratio | (0.13) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of African Metals' 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.
African Metals Backtested Returns
African Metals appears to be out of control, given 3 months investment horizon. African Metals secures Sharpe Ratio (or Efficiency) of 0.0244, which signifies that the company had a 0.0244% return per unit of risk over the last 3 months. We have found twenty-one technical indicators for African Metals, which you can use to evaluate the volatility of the firm. Please makes use of African Metals' Risk Adjusted Performance of 0.0237, mean deviation of 4.74, and Standard Deviation of 16.29 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, African Metals holds a performance score of 1. The firm shows a Beta (market volatility) of -3.0, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning African Metals are expected to decrease by larger amounts. On the other hand, during market turmoil, African Metals is expected to outperform it. Please check African Metals' skewness, as well as the relationship between the day median price and relative strength index , to make a quick decision on whether African Metals' price patterns will revert.
Auto-correlation | -0.53 |
Good reverse predictability
African Metals has good reverse predictability. Overlapping area represents the amount of predictability between African Metals time series from 24th of March 2024 to 23rd of April 2024 and 23rd of April 2024 to 23rd of May 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 African Metals price movement. The serial correlation of -0.53 indicates that about 53.0% of current African Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | 0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
African Metals lagged returns against current returns
Autocorrelation, which is African Metals 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 African Metals' stock expected returns. We can calculate the autocorrelation of African Metals returns to help us make a trade decision. For example, suppose you find that African Metals 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 |
African Metals 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 African Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if African Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in African Metals stock over time.
Current vs Lagged Prices |
| Timeline |
African Metals Lagged Returns
When evaluating African Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of African Metals stock have on its future price. African Metals 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, African Metals autocorrelation shows the relationship between African Metals stock current value and its past values and can show if there is a momentum factor associated with investing in African Metals.
Regressed Prices |
| Timeline |
Pair Trading with African Metals
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 African Metals 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 African Metals will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to African Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace African Metals 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 African Metals - 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 African Metals to buy it.
The correlation of African Metals 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 African Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if African Metals 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 African Metals 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 African Metals Correlation, African Metals Volatility and African Metals Alpha and Beta module to complement your research on African Metals. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for African Stock analysis
When running African Metals' price analysis, check to measure African Metals' 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 African Metals is operating at the current time. Most of African Metals' value examination focuses on studying past and present price action to predict the probability of African Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move African Metals' price. Additionally, you may evaluate how the addition of African Metals to your portfolios can decrease your overall portfolio volatility.
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African Metals 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.