Bitterroot Resources Stock Market Value
| BTT Stock | CAD 0.02 0.01 33.33% |
| Symbol | Bitterroot |
Bitterroot 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 Bitterroot 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 Bitterroot Resources.
| 03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Bitterroot Resources on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Bitterroot Resources or generate 0.0% return on investment in Bitterroot Resources over 30 days. Bitterroot Resources is related to or competes with Pacific Ridge. Bitterroot Resources Ltd., an exploration stage company, engages in the acquisition, development, exploration, and evalu... More
Bitterroot 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 Bitterroot 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 Bitterroot Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0664 | |||
| Maximum Drawdown | 83.33 | |||
| Value At Risk | (33.33) | |||
| Potential Upside | 50.0 |
Bitterroot Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Bitterroot Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Bitterroot Resources' standard deviation. In reality, there are many statistical measures that can use Bitterroot Resources historical prices to predict the future Bitterroot Resources' volatility.| Risk Adjusted Performance | 0.0538 | |||
| Jensen Alpha | 1.06 | |||
| Total Risk Alpha | (0.04) | |||
| Treynor Ratio | 13.1 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Bitterroot 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.
Bitterroot Resources Backtested Returns
Bitterroot Resources is out of control given 3 months investment horizon. Bitterroot Resources secures Sharpe Ratio (or Efficiency) of 0.0701, which signifies that the company had a 0.0701% return per unit of risk over the last 3 months. We were able to interpolate twenty-two different technical indicators, which can help you to evaluate if expected returns of 1.08% are justified by taking the suggested risk. Use Bitterroot Resources Standard Deviation of 15.35, risk adjusted performance of 0.0538, and Mean Deviation of 6.31 to evaluate company specific risk that cannot be diversified away. Bitterroot Resources holds a performance score of 5 on a scale of zero to a hundred. The firm shows a Beta (market volatility) of 0.0813, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Bitterroot Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Bitterroot Resources is expected to be smaller as well. Use Bitterroot Resources skewness, as well as the relationship between the day median price and relative strength index , to analyze future returns on Bitterroot Resources.
Auto-correlation | -0.42 |
Modest reverse predictability
Bitterroot Resources has modest reverse predictability. Overlapping area represents the amount of predictability between Bitterroot Resources time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th 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 Bitterroot Resources price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Bitterroot Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.42 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Bitterroot Resources lagged returns against current returns
Autocorrelation, which is Bitterroot 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 Bitterroot Resources' stock expected returns. We can calculate the autocorrelation of Bitterroot Resources returns to help us make a trade decision. For example, suppose you find that Bitterroot 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 |
Bitterroot 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 Bitterroot Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Bitterroot Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Bitterroot Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Bitterroot Resources Lagged Returns
When evaluating Bitterroot Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Bitterroot Resources stock have on its future price. Bitterroot 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, Bitterroot Resources autocorrelation shows the relationship between Bitterroot Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Bitterroot Resources.
Regressed Prices |
| Timeline |
Pair Trading with Bitterroot 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 Bitterroot 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 Bitterroot Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Bitterroot Stock
| 0.41 | TGO | TeraGo Inc | PairCorr |
The ability to find closely correlated positions to Bitterroot 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 Bitterroot 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 Bitterroot 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 Bitterroot Resources to buy it.
The correlation of Bitterroot 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 Bitterroot Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bitterroot 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 Bitterroot 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 Bitterroot Resources Correlation, Bitterroot Resources Volatility and Bitterroot Resources Alpha and Beta module to complement your research on Bitterroot Resources. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Complementary Tools for Bitterroot Stock analysis
When running Bitterroot Resources' price analysis, check to measure Bitterroot 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 Bitterroot Resources is operating at the current time. Most of Bitterroot Resources' value examination focuses on studying past and present price action to predict the probability of Bitterroot Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bitterroot Resources' price. Additionally, you may evaluate how the addition of Bitterroot Resources to your portfolios can decrease your overall portfolio volatility.
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Bitterroot 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.