Wesdome Gold Mines Stock Market Value
WDOFF Stock | USD 8.11 0.21 2.52% |
Symbol | Wesdome |
Wesdome 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 Wesdome Gold's otc 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 Wesdome Gold.
05/04/2024 |
| 06/03/2024 |
If you would invest 0.00 in Wesdome Gold on May 4, 2024 and sell it all today you would earn a total of 0.00 from holding Wesdome Gold Mines or generate 0.0% return on investment in Wesdome Gold over 30 days. Wesdome Gold is related to or competes with Victoria Gold, Cassiar Gold, Liberty Gold, Treasury Metals, I 80, Osino Resources, and K92 Mining. Wesdome Gold Mines Ltd. engages in the exploration, extraction, processing, and reclamation of gold in Canada More
Wesdome 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 Wesdome Gold's otc 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 Wesdome Gold Mines upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 2.99 | |||
Information Ratio | 0.0641 | |||
Maximum Drawdown | 17.99 | |||
Value At Risk | (4.43) | |||
Potential Upside | 5.13 |
Wesdome Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wesdome Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wesdome Gold's standard deviation. In reality, there are many statistical measures that can use Wesdome Gold historical prices to predict the future Wesdome Gold's volatility.Risk Adjusted Performance | 0.0571 | |||
Jensen Alpha | 0.2592 | |||
Total Risk Alpha | 0.0592 | |||
Sortino Ratio | 0.0669 | |||
Treynor Ratio | (0.35) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Wesdome 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.
Wesdome Gold Mines Backtested Returns
Wesdome Gold appears to be slightly risky, given 3 months investment horizon. Wesdome Gold Mines shows Sharpe Ratio of 0.0786, which attests that the company had a 0.0786% return per unit of risk over the last 3 months. We have found thirty technical indicators for Wesdome Gold Mines, which you can use to evaluate the volatility of the company. Please utilize Wesdome Gold's Downside Deviation of 2.99, market risk adjusted performance of (0.34), and Mean Deviation of 2.25 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Wesdome Gold holds a performance score of 6. The firm maintains a market beta of -0.67, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Wesdome Gold are expected to decrease at a much lower rate. During the bear market, Wesdome Gold is likely to outperform the market. Please check Wesdome Gold's skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Wesdome Gold's historical returns will revert.
Auto-correlation | -0.55 |
Good reverse predictability
Wesdome Gold Mines has good reverse predictability. Overlapping area represents the amount of predictability between Wesdome Gold time series from 4th of May 2024 to 19th of May 2024 and 19th of May 2024 to 3rd 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 Wesdome Gold Mines price movement. The serial correlation of -0.55 indicates that about 55.0% of current Wesdome Gold price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.55 | |
Spearman Rank Test | 0.14 | |
Residual Average | 0.0 | |
Price Variance | 0.06 |
Wesdome Gold Mines lagged returns against current returns
Autocorrelation, which is Wesdome Gold otc 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 Wesdome Gold's otc stock expected returns. We can calculate the autocorrelation of Wesdome Gold returns to help us make a trade decision. For example, suppose you find that Wesdome Gold has exhibited high autocorrelation historically, and you observe that the otc 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 |
Wesdome 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 Wesdome Gold otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wesdome Gold otc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wesdome Gold otc stock over time.
Current vs Lagged Prices |
Timeline |
Wesdome Gold Lagged Returns
When evaluating Wesdome Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wesdome Gold otc stock have on its future price. Wesdome 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, Wesdome Gold autocorrelation shows the relationship between Wesdome Gold otc stock current value and its past values and can show if there is a momentum factor associated with investing in Wesdome Gold Mines.
Regressed Prices |
Timeline |
Currently Active Assets on Macroaxis
Check out Wesdome Gold Correlation, Wesdome Gold Volatility and Wesdome Gold Alpha and Beta module to complement your research on Wesdome Gold. Note that the Wesdome Gold Mines information on this page should be used as a complementary analysis to other Wesdome Gold's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Complementary Tools for Wesdome OTC Stock analysis
When running Wesdome Gold's price analysis, check to measure Wesdome 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 Wesdome Gold is operating at the current time. Most of Wesdome Gold's value examination focuses on studying past and present price action to predict the probability of Wesdome 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 Wesdome Gold's price. Additionally, you may evaluate how the addition of Wesdome Gold to your portfolios can decrease your overall portfolio volatility.
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