Ascendant Resources Stock Market Value
| ASND Stock | CAD 0.06 0.01 14.29% |
| Symbol | Ascendant |
Ascendant Resources Price To Book Ratio
Ascendant Resources '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 Ascendant Resources' 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 Ascendant Resources.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Ascendant Resources on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Ascendant Resources or generate 0.0% return on investment in Ascendant Resources over 30 days. Ascendant Resources is related to or competes with Manulife Financial, Toronto Dominion, Enbridge, Telus Corp, TC Energy, Athabasca Oil, and Bank of Nova Scotia. Ascendant Resources Inc. explores for and evaluates mineral properties in Canada More
Ascendant Resources 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 Ascendant Resources' 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 Ascendant Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 30.95 | |||
| Value At Risk | (14.29) | |||
| Potential Upside | 16.67 |
Ascendant Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ascendant Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ascendant Resources' standard deviation. In reality, there are many statistical measures that can use Ascendant Resources historical prices to predict the future Ascendant Resources' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.87) | |||
| Treynor Ratio | 0.0882 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ascendant Resources' 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.
Ascendant Resources Backtested Returns
Ascendant Resources secures Sharpe Ratio (or Efficiency) of -0.0258, which signifies that the company had a -0.0258% return per unit of standard deviation over the last 3 months. Ascendant Resources exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Ascendant Resources' risk adjusted performance of (0.01), and Mean Deviation of 3.63 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -2.16, which signifies a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Ascendant Resources are expected to decrease by larger amounts. On the other hand, during market turmoil, Ascendant Resources is expected to outperform it. Ascendant Resources has an expected return of -0.19%. Please make sure to confirm Ascendant Resources coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Ascendant Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.14 |
Insignificant reverse predictability
Ascendant Resources has insignificant reverse predictability. Overlapping area represents the amount of predictability between Ascendant Resources 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 Ascendant Resources price movement. The serial correlation of -0.14 indicates that less than 14.0% of current Ascendant Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.14 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Ascendant Resources lagged returns against current returns
Autocorrelation, which is Ascendant Resources 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 Ascendant Resources' stock expected returns. We can calculate the autocorrelation of Ascendant Resources returns to help us make a trade decision. For example, suppose you find that Ascendant Resources 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 |
Ascendant Resources 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 Ascendant Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ascendant Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ascendant Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Ascendant Resources Lagged Returns
When evaluating Ascendant Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ascendant Resources stock have on its future price. Ascendant Resources 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, Ascendant Resources autocorrelation shows the relationship between Ascendant Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Ascendant Resources.
Regressed Prices |
| Timeline |
Pair Trading with Ascendant Resources
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 Ascendant Resources 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 Ascendant Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Ascendant Stock
| 0.65 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.48 | AMZN | Amazon CDR | PairCorr |
| 0.45 | JPM | JPMorgan Chase | PairCorr |
| 0.41 | MSFT | Microsoft Corp CDR | PairCorr |
The ability to find closely correlated positions to Ascendant Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ascendant Resources 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 Ascendant Resources - 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 Ascendant Resources to buy it.
The correlation of Ascendant Resources 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 Ascendant Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ascendant 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 Ascendant Resources 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 Ascendant Resources Correlation, Ascendant Resources Volatility and Ascendant Resources Alpha and Beta module to complement your research on Ascendant Resources. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
Complementary Tools for Ascendant Stock analysis
When running Ascendant Resources' price analysis, check to measure Ascendant Resources' 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 Ascendant Resources is operating at the current time. Most of Ascendant Resources' value examination focuses on studying past and present price action to predict the probability of Ascendant Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ascendant Resources' price. Additionally, you may evaluate how the addition of Ascendant Resources to your portfolios can decrease your overall portfolio volatility.
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Ascendant Resources 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.