Errawarra Resources (Australia) Market Value
| ERW Stock | 0.06 0 5.77% |
| Symbol | Errawarra |
Errawarra Resources '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 Errawarra Resources' 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 Errawarra Resources.
| 01/05/2023 |
| 12/25/2024 |
If you would invest 0.00 in Errawarra Resources on January 5, 2023 and sell it all today you would earn a total of 0.00 from holding Errawarra Resources or generate 0.0% return on investment in Errawarra Resources over 720 days. Errawarra Resources is related to or competes with Peel Mining, Aspire Mining, Chalice Mining, Dexus Convenience, Super Retail, Australian Unity, and Vulcan Steel. Errawarra Resources is entity of Australia More
Errawarra Resources 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 Errawarra Resources' 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 Errawarra Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 47.1 | |||
| Value At Risk | (14.52) | |||
| Potential Upside | 14.0 |
Errawarra Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Errawarra Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Errawarra Resources' standard deviation. In reality, there are many statistical measures that can use Errawarra Resources historical prices to predict the future Errawarra Resources' volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (0.90) | |||
| Treynor Ratio | 0.9655 |
Errawarra Resources Backtested Returns
Errawarra Resources secures Sharpe Ratio (or Efficiency) of -0.0642, which denotes the company had a -0.0642% return per unit of risk over the last 3 months. Errawarra Resources exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Errawarra Resources' Standard Deviation of 8.1, variance of 65.66, and Mean Deviation of 5.33 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.57, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Errawarra Resources are expected to decrease at a much lower rate. During the bear market, Errawarra Resources is likely to outperform the market. At this point, Errawarra Resources has a negative expected return of -0.52%. Please make sure to confirm Errawarra Resources' total risk alpha, maximum drawdown, skewness, as well as the relationship between the treynor ratio and potential upside , to decide if Errawarra Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Errawarra Resources has insignificant reverse predictability. Overlapping area represents the amount of predictability between Errawarra Resources time series from 5th of January 2023 to 31st of December 2023 and 31st of December 2023 to 25th 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 Errawarra Resources price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Errawarra Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Errawarra Resources lagged returns against current returns
Autocorrelation, which is Errawarra Resources 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 Errawarra Resources' stock expected returns. We can calculate the autocorrelation of Errawarra Resources returns to help us make a trade decision. For example, suppose you find that Errawarra Resources 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 |
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Errawarra Resources 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 Errawarra Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Errawarra Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Errawarra Resources stock over time.
Current vs Lagged Prices |
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Errawarra Resources Lagged Returns
When evaluating Errawarra Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Errawarra Resources stock have on its future price. Errawarra Resources 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, Errawarra Resources autocorrelation shows the relationship between Errawarra Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Errawarra Resources.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Errawarra Stock Analysis
When running Errawarra Resources' price analysis, check to measure Errawarra Resources' 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 Errawarra Resources is operating at the current time. Most of Errawarra Resources' value examination focuses on studying past and present price action to predict the probability of Errawarra Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Errawarra Resources' price. Additionally, you may evaluate how the addition of Errawarra Resources to your portfolios can decrease your overall portfolio volatility.