Fury Gold Mines Stock Market Value
| FURY Stock | CAD 0.54 0.02 3.57% |
| Symbol | Fury |
Fury Gold Mines Price To Book Ratio
Fury Gold '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 Fury Gold'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 Fury Gold.
| 02/11/2024 |
| 05/11/2024 |
If you would invest 0.00 in Fury Gold on February 11, 2024 and sell it all today you would earn a total of 0.00 from holding Fury Gold Mines or generate 0.0% return on investment in Fury Gold over 90 days. Fury Gold is related to or competes with Tier One, Liberty Gold, GoldMining, First Mining, and Aris Gold. Fury Gold Mines Limited operates as an exploration and development company in Canada More
Fury Gold 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 Fury Gold'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 Fury Gold Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.53 | |||
| Information Ratio | 0.0341 | |||
| Maximum Drawdown | 20.34 | |||
| Value At Risk | (5.00) | |||
| Potential Upside | 11.76 |
Fury Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fury Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fury Gold's standard deviation. In reality, there are many statistical measures that can use Fury Gold historical prices to predict the future Fury Gold's volatility.| Risk Adjusted Performance | 0.0414 | |||
| Jensen Alpha | 0.299 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | 0.0424 | |||
| Treynor Ratio | (0.21) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Fury Gold'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.
Fury Gold Mines Backtested Returns
Fury Gold appears to be out of control, given 3 months investment horizon. Fury Gold Mines secures Sharpe Ratio (or Efficiency) of 0.063, which denotes the company had a 0.063% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Fury Gold Mines, which you can use to evaluate the volatility of the firm. Please utilize Fury Gold's Mean Deviation of 2.98, coefficient of variation of 1881.88, and Downside Deviation of 3.53 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Fury Gold holds a performance score of 4. The firm shows a Beta (market volatility) of -1.04, which means a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Fury Gold are expected to decrease slowly. On the other hand, during market turmoil, Fury Gold is expected to outperform it slightly. Please check Fury Gold's sortino ratio, potential upside, skewness, as well as the relationship between the maximum drawdown and semi variance , to make a quick decision on whether Fury Gold's price patterns will revert.
Auto-correlation | -0.28 |
Weak reverse predictability
Fury Gold Mines has weak reverse predictability. Overlapping area represents the amount of predictability between Fury Gold time series from 11th of February 2024 to 27th of March 2024 and 27th of March 2024 to 11th 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 Fury Gold Mines price movement. The serial correlation of -0.28 indicates that nearly 28.0% of current Fury Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.28 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fury Gold Mines lagged returns against current returns
Autocorrelation, which is Fury Gold 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 Fury Gold's stock expected returns. We can calculate the autocorrelation of Fury Gold returns to help us make a trade decision. For example, suppose you find that Fury Gold 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 |
Fury Gold 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 Fury Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fury Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fury Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Fury Gold Lagged Returns
When evaluating Fury Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fury Gold stock have on its future price. Fury Gold 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, Fury Gold autocorrelation shows the relationship between Fury Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Fury Gold Mines.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Fury Gold in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Fury Gold's short interest history, or implied volatility extrapolated from Fury Gold options trading.
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Complementary Tools for Fury Stock analysis
When running Fury Gold's price analysis, check to measure Fury Gold'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 Fury Gold is operating at the current time. Most of Fury Gold's value examination focuses on studying past and present price action to predict the probability of Fury Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fury Gold's price. Additionally, you may evaluate how the addition of Fury Gold to your portfolios can decrease your overall portfolio volatility.
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Fury Gold 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.