Gold Road Resources Stock Market Value
| ELKMF Stock | USD 1.07 0.02 1.83% |
| Symbol | Gold |
Gold Road '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 Gold Road's pink sheet 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 Gold Road.
| 03/24/2024 |
| 04/23/2024 |
If you would invest 0.00 in Gold Road on March 24, 2024 and sell it all today you would earn a total of 0.00 from holding Gold Road Resources or generate 0.0% return on investment in Gold Road over 30 days. Gold Road is related to or competes with Collective Mining, Tudor Gold, Caledonia Mining, Tanzanian Royalty, Fosterville South, Independence Gold, and Artemis Gold. Gold Road Resources Limited, together with its subsidiaries, engages in the exploration and development of mineral prope... More
Gold Road 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 Gold Road's pink sheet 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 Gold Road Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 22.53 | |||
| Value At Risk | (5.71) | |||
| Potential Upside | 3.96 |
Gold Road Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gold Road's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gold Road's standard deviation. In reality, there are many statistical measures that can use Gold Road historical prices to predict the future Gold Road's volatility.| Risk Adjusted Performance | (0.0009) | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.50) | |||
| Treynor Ratio | (1.41) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Gold Road'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.
Gold Road Resources Backtested Returns
Gold Road Resources holds Efficiency (Sharpe) Ratio of -0.0234, which attests that the entity had a -0.0234% return per unit of risk over the last 3 months. Gold Road Resources exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Gold Road's Market Risk Adjusted Performance of (1.40), standard deviation of 3.39, and Risk Adjusted Performance of (0.0009) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0424, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Gold Road's returns are expected to increase less than the market. However, during the bear market, the loss of holding Gold Road is expected to be smaller as well. Gold Road Resources has an expected return of -0.0813%. Please make sure to check out Gold Road treynor ratio, as well as the relationship between the kurtosis and day median price , to decide if Gold Road Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.66 |
Very good reverse predictability
Gold Road Resources has very good reverse predictability. Overlapping area represents the amount of predictability between Gold Road time series from 24th of March 2024 to 8th of April 2024 and 8th of April 2024 to 23rd 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 Gold Road Resources price movement. The serial correlation of -0.66 indicates that around 66.0% of current Gold Road price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.66 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Gold Road Resources lagged returns against current returns
Autocorrelation, which is Gold Road pink sheet'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 Gold Road's pink sheet expected returns. We can calculate the autocorrelation of Gold Road returns to help us make a trade decision. For example, suppose you find that Gold Road has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Gold Road 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 Gold Road pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gold Road pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gold Road pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Gold Road Lagged Returns
When evaluating Gold Road's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gold Road pink sheet have on its future price. Gold Road 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, Gold Road autocorrelation shows the relationship between Gold Road pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Gold Road Resources.
Regressed Prices |
| Timeline |
Check out Gold Road Correlation, Gold Road Volatility and Gold Road Alpha and Beta module to complement your research on Gold Road. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
Complementary Tools for Gold Pink Sheet analysis
When running Gold Road's price analysis, check to measure Gold Road'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 Gold Road is operating at the current time. Most of Gold Road's value examination focuses on studying past and present price action to predict the probability of Gold Road's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gold Road's price. Additionally, you may evaluate how the addition of Gold Road to your portfolios can decrease your overall portfolio volatility.
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Gold Road technical pink sheet 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, pink sheet market cycles, or different charting patterns.