Playfair Mining Stock Market Value
| PLY Stock | CAD 0.02 0.01 33.33% |
| Symbol | Playfair |
Playfair Mining Price To Book Ratio
Playfair Mining '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 Playfair Mining'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 Playfair Mining.
| 05/05/2024 |
| 06/04/2024 |
If you would invest 0.00 in Playfair Mining on May 5, 2024 and sell it all today you would earn a total of 0.00 from holding Playfair Mining or generate 0.0% return on investment in Playfair Mining over 30 days. Playfair Mining is related to or competes with Baselode Energy. Playfair Mining Ltd., an exploration stage company, engages in the acquisition, exploration, and development of mineral ... More
Playfair Mining 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 Playfair Mining'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 Playfair Mining upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 42.9 | |||
| Information Ratio | 0.0884 | |||
| Maximum Drawdown | 190.0 | |||
| Value At Risk | (33.33) | |||
| Potential Upside | 50.0 |
Playfair Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Playfair Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Playfair Mining's standard deviation. In reality, there are many statistical measures that can use Playfair Mining historical prices to predict the future Playfair Mining's volatility.| Risk Adjusted Performance | 0.066 | |||
| Jensen Alpha | 2.59 | |||
| Total Risk Alpha | 1.43 | |||
| Sortino Ratio | 0.0616 | |||
| Treynor Ratio | 0.9445 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Playfair Mining'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.
Playfair Mining Backtested Returns
Playfair Mining is out of control given 3 months investment horizon. Playfair Mining maintains Sharpe Ratio (i.e., Efficiency) of 0.0931, which implies the firm had a 0.0931% return per unit of risk over the last 3 months. We were able to interpolate twenty-eight different technical indicators, which can help you to evaluate if expected returns of 2.9% are justified by taking the suggested risk. Use Playfair Mining Coefficient Of Variation of 1116.64, semi deviation of 13.47, and Risk Adjusted Performance of 0.066 to evaluate company specific risk that cannot be diversified away. Playfair Mining holds a performance score of 7 on a scale of zero to a hundred. The company holds a Beta of 2.82, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Playfair Mining will likely underperform. Use Playfair Mining information ratio and the relationship between the maximum drawdown and day median price , to analyze future returns on Playfair Mining.
Auto-correlation | -0.26 |
Weak reverse predictability
Playfair Mining has weak reverse predictability. Overlapping area represents the amount of predictability between Playfair Mining time series from 5th of May 2024 to 20th of May 2024 and 20th of May 2024 to 4th of June 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 Playfair Mining price movement. The serial correlation of -0.26 indicates that nearly 26.0% of current Playfair Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.26 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Playfair Mining lagged returns against current returns
Autocorrelation, which is Playfair Mining 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 Playfair Mining's stock expected returns. We can calculate the autocorrelation of Playfair Mining returns to help us make a trade decision. For example, suppose you find that Playfair Mining 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 |
Playfair Mining 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 Playfair Mining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Playfair Mining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Playfair Mining stock over time.
Current vs Lagged Prices |
| Timeline |
Playfair Mining Lagged Returns
When evaluating Playfair Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Playfair Mining stock have on its future price. Playfair Mining 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, Playfair Mining autocorrelation shows the relationship between Playfair Mining stock current value and its past values and can show if there is a momentum factor associated with investing in Playfair Mining.
Regressed Prices |
| Timeline |
Pair Trading with Playfair Mining
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 Playfair Mining 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 Playfair Mining will appreciate offsetting losses from the drop in the long position's value.Moving against Playfair Stock
| 0.63 | FEC | Frontera Energy Corp | PairCorr |
| 0.55 | IE | Ivanhoe Energy | PairCorr |
| 0.54 | SLF-PH | Sun Lif Non | PairCorr |
| 0.41 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Playfair Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Playfair Mining 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 Playfair Mining - 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 Playfair Mining to buy it.
The correlation of Playfair Mining 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 Playfair Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Playfair Mining 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 Playfair Mining 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.Additional Tools for Playfair Stock Analysis
When running Playfair Mining's price analysis, check to measure Playfair Mining'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 Playfair Mining is operating at the current time. Most of Playfair Mining's value examination focuses on studying past and present price action to predict the probability of Playfair Mining's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Playfair Mining's price. Additionally, you may evaluate how the addition of Playfair Mining to your portfolios can decrease your overall portfolio volatility.