Golden Minerals Stock Market Value
| AUMN Stock | CAD 0.14 0.01 6.67% |
| Symbol | Golden |
Golden Minerals Price To Book Ratio
Golden Minerals '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 Golden Minerals' 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 Golden Minerals.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Golden Minerals on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Golden Minerals or generate 0.0% return on investment in Golden Minerals over 30 days. Golden Minerals is related to or competes with Tristar Gold, Trilogy Metals, and Hannan Metals. Golden Minerals Company, a precious metals exploration and development company, mines, constructs, and explores for mine... More
Golden Minerals 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 Golden Minerals' 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 Golden Minerals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 55.34 | |||
| Value At Risk | (13.64) | |||
| Potential Upside | 11.76 |
Golden Minerals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Golden Minerals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Golden Minerals' standard deviation. In reality, there are many statistical measures that can use Golden Minerals historical prices to predict the future Golden Minerals' volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.99) | |||
| Total Risk Alpha | (1.17) | |||
| Treynor Ratio | (0.41) |
Golden Minerals Backtested Returns
Golden Minerals holds Efficiency (Sharpe) Ratio of -0.12, which attests that the entity had a -0.12% return per unit of risk over the last 3 months. Golden Minerals exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Golden Minerals' Market Risk Adjusted Performance of (0.40), risk adjusted performance of (0.08), and Standard Deviation of 8.09 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 2.27, which attests to 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, Golden Minerals will likely underperform. At this point, Golden Minerals has a negative expected return of -0.95%. Please make sure to check out Golden Minerals' information ratio, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Golden Minerals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.62 |
Good predictability
Golden Minerals has good predictability. Overlapping area represents the amount of predictability between Golden Minerals time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Golden Minerals price movement. The serial correlation of 0.62 indicates that roughly 62.0% of current Golden Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.62 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Golden Minerals lagged returns against current returns
Autocorrelation, which is Golden Minerals 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 Golden Minerals' stock expected returns. We can calculate the autocorrelation of Golden Minerals returns to help us make a trade decision. For example, suppose you find that Golden Minerals 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 |
Golden Minerals 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 Golden Minerals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Golden Minerals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Golden Minerals stock over time.
Current vs Lagged Prices |
| Timeline |
Golden Minerals Lagged Returns
When evaluating Golden Minerals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Golden Minerals stock have on its future price. Golden Minerals 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, Golden Minerals autocorrelation shows the relationship between Golden Minerals stock current value and its past values and can show if there is a momentum factor associated with investing in Golden Minerals.
Regressed Prices |
| Timeline |
Pair Trading with Golden Minerals
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 Golden Minerals 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 Golden Minerals will appreciate offsetting losses from the drop in the long position's value.Moving together with Golden Stock
| 0.69 | AG | First Majestic Silver | PairCorr |
| 0.82 | IE | Ivanhoe Energy | PairCorr |
| 0.72 | FDY | Faraday Copper Corp | PairCorr |
Moving against Golden Stock
| 0.74 | QNC | Quantum Numbers | PairCorr |
| 0.71 | DBO | D Box Technologies | PairCorr |
| 0.68 | OM | Osisko Metals | PairCorr |
| 0.67 | AQN-PD | Algonquin Power Utilities | PairCorr |
| 0.66 | ENB-PH | Enbridge H Cum | PairCorr |
The ability to find closely correlated positions to Golden Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Golden Minerals 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 Golden Minerals - 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 Golden Minerals to buy it.
The correlation of Golden Minerals 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 Golden Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Golden Minerals 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 Golden Minerals 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.Check out Golden Minerals Correlation, Golden Minerals Volatility and Golden Minerals Alpha and Beta module to complement your research on Golden Minerals. To learn how to invest in Golden Stock, please use our How to Invest in Golden Minerals guide.You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Golden Minerals 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.