China Gold International Stock Market Value
| CGG Stock | CAD 6.79 0.17 2.44% |
| Symbol | China |
China Gold International Price To Book Ratio
China 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 China 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 China Gold.
| 06/24/2024 |
| 12/21/2024 |
If you would invest 0.00 in China Gold on June 24, 2024 and sell it all today you would earn a total of 0.00 from holding China Gold International or generate 0.0% return on investment in China Gold over 180 days. China Gold is related to or competes with Strikepoint Gold, Eskay Mining, and Stillwater Critical. Ltd., a gold and base metal mining company, acquires, explores for, develops, and mines mineral properties in the People... More
China 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 China 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 China Gold International upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.36 | |||
| Information Ratio | 0.0821 | |||
| Maximum Drawdown | 20.74 | |||
| Value At Risk | (5.04) | |||
| Potential Upside | 8.29 |
China Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for China Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as China Gold's standard deviation. In reality, there are many statistical measures that can use China Gold historical prices to predict the future China Gold's volatility.| Risk Adjusted Performance | 0.0794 | |||
| Jensen Alpha | 0.3585 | |||
| Total Risk Alpha | 0.2394 | |||
| Sortino Ratio | 0.0982 | |||
| Treynor Ratio | (1.16) |
China Gold International Backtested Returns
China Gold appears to be moderately volatile, given 3 months investment horizon. China Gold International secures Sharpe Ratio (or Efficiency) of 0.0731, which signifies that the company had a 0.0731% return per unit of risk over the last 3 months. We have found thirty technical indicators for China Gold International, which you can use to evaluate the volatility of the firm. Please makes use of China Gold's Mean Deviation of 2.95, downside deviation of 3.36, and Risk Adjusted Performance of 0.0794 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, China Gold holds a performance score of 5. The firm shows a Beta (market volatility) of -0.3, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning China Gold are expected to decrease at a much lower rate. During the bear market, China Gold is likely to outperform the market. Please check China Gold's value at risk, kurtosis, and the relationship between the sortino ratio and semi variance , to make a quick decision on whether China Gold's price patterns will revert.
Auto-correlation | -0.65 |
Very good reverse predictability
China Gold International has very good reverse predictability. Overlapping area represents the amount of predictability between China Gold time series from 24th of June 2024 to 22nd of September 2024 and 22nd of September 2024 to 21st 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 China Gold International price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current China Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 0.22 |
China Gold International lagged returns against current returns
Autocorrelation, which is China 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 China Gold's stock expected returns. We can calculate the autocorrelation of China Gold returns to help us make a trade decision. For example, suppose you find that China 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 |
China 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 China Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if China Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in China Gold stock over time.
Current vs Lagged Prices |
| Timeline |
China Gold Lagged Returns
When evaluating China Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of China Gold stock have on its future price. China 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, China Gold autocorrelation shows the relationship between China Gold stock current value and its past values and can show if there is a momentum factor associated with investing in China Gold International.
Regressed Prices |
| Timeline |
Pair Trading with China Gold
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 China Gold 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 China Gold will appreciate offsetting losses from the drop in the long position's value.Moving against China Stock
| 0.52 | MAC | Themac Resources | PairCorr |
| 0.51 | PIC-A | Premium Income Split | PairCorr |
| 0.5 | ORE | Orezone Gold Corp | PairCorr |
| 0.49 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to China Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace China Gold 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 China Gold - 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 China Gold International to buy it.
The correlation of China Gold 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 China Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if China Gold International 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 China Gold 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.Other Information on Investing in China Stock
China Gold financial ratios help investors to determine whether China Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in China with respect to the benefits of owning China Gold security.