Anax Metals (Australia) Market Value
| ANX Stock | 0.01 0 9.09% |
| Symbol | Anax |
Anax Metals '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 Anax Metals' 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 Anax Metals.
| 05/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Anax Metals on May 6, 2024 and sell it all today you would earn a total of 0.00 from holding Anax Metals or generate 0.0% return on investment in Anax Metals over 210 days. Anax Metals is related to or competes with ABACUS STORAGE, National Storage, Macquarie Technology, and Australian Unity. Anax Metals is entity of Australia. It is traded as Stock on AU exchange. More
Anax Metals 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 Anax Metals' 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 Anax Metals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 27.19 | |||
| Value At Risk | (9.09) | |||
| Potential Upside | 9.09 |
Anax Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Anax Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Anax Metals' standard deviation. In reality, there are many statistical measures that can use Anax Metals historical prices to predict the future Anax Metals' volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (1.26) | |||
| Total Risk Alpha | (2.02) | |||
| Treynor Ratio | (1.00) |
Anax Metals Backtested Returns
Anax Metals secures Sharpe Ratio (or Efficiency) of -0.19, which signifies that the company had a -0.19% return per unit of standard deviation over the last 3 months. Anax Metals exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Anax Metals' risk adjusted performance of (0.15), and Mean Deviation of 4.0 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.12, which signifies a somewhat significant risk relative to the market. Anax Metals returns are very sensitive to returns on the market. As the market goes up or down, Anax Metals is expected to follow. At this point, Anax Metals has a negative expected return of -1.0%. Please make sure to confirm Anax Metals' coefficient of variation, variance, and the relationship between the mean deviation and standard deviation , to decide if Anax Metals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.78 |
Good predictability
Anax Metals has good predictability. Overlapping area represents the amount of predictability between Anax Metals time series from 6th of May 2024 to 19th of August 2024 and 19th of August 2024 to 2nd of December 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 Anax Metals price movement. The serial correlation of 0.78 indicates that around 78.0% of current Anax Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Anax Metals lagged returns against current returns
Autocorrelation, which is Anax Metals 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 Anax Metals' stock expected returns. We can calculate the autocorrelation of Anax Metals returns to help us make a trade decision. For example, suppose you find that Anax Metals 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 |
Anax Metals 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 Anax Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Anax Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Anax Metals stock over time.
Current vs Lagged Prices |
| Timeline |
Anax Metals Lagged Returns
When evaluating Anax Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Anax Metals stock have on its future price. Anax Metals 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, Anax Metals autocorrelation shows the relationship between Anax Metals stock current value and its past values and can show if there is a momentum factor associated with investing in Anax Metals.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Anax Stock Analysis
When running Anax Metals' price analysis, check to measure Anax Metals' 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 Anax Metals is operating at the current time. Most of Anax Metals' value examination focuses on studying past and present price action to predict the probability of Anax Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Anax Metals' price. Additionally, you may evaluate how the addition of Anax Metals to your portfolios can decrease your overall portfolio volatility.