Excellon Resources Stock Market Value
| EXN Stock | CAD 0.11 0.01 10.00% |
| Symbol | Excellon |
Excellon Resources Price To Book Ratio
Excellon 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 Excellon 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 Excellon Resources.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in Excellon Resources on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding Excellon Resources or generate 0.0% return on investment in Excellon Resources over 30 days. Excellon Resources is related to or competes with Minco Silver, Americas Silver, IMPACT Silver, and Dolly Varden. Excellon Resources Inc., a silver mining and exploration company, engages in the acquisition, exploration, evaluation, d... More
Excellon 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 Excellon 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 Excellon Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 10.17 | |||
| Information Ratio | 0.0593 | |||
| Maximum Drawdown | 37.61 | |||
| Value At Risk | (9.09) | |||
| Potential Upside | 10.0 |
Excellon Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Excellon Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Excellon Resources' standard deviation. In reality, there are many statistical measures that can use Excellon Resources historical prices to predict the future Excellon Resources' volatility.| Risk Adjusted Performance | 0.0649 | |||
| Jensen Alpha | 0.558 | |||
| Total Risk Alpha | (0.56) | |||
| Sortino Ratio | 0.0398 | |||
| Treynor Ratio | (1.53) |
Excellon Resources Backtested Returns
Excellon Resources appears to be out of control, given 3 months investment horizon. Excellon Resources secures Sharpe Ratio (or Efficiency) of 0.0793, which denotes the company had a 0.0793% return per unit of standard deviation over the last 3 months. By reviewing Excellon Resources' technical indicators, you can evaluate if the expected return of 0.55% is justified by implied risk. Please utilize Excellon Resources' Mean Deviation of 4.33, semi deviation of 4.62, and Downside Deviation of 10.17 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Excellon Resources holds a performance score of 6. The firm shows a Beta (market volatility) of -0.34, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Excellon Resources are expected to decrease at a much lower rate. During the bear market, Excellon Resources is likely to outperform the market. Please check Excellon Resources' potential upside, rate of daily change, and the relationship between the sortino ratio and skewness , to make a quick decision on whether Excellon Resources' price patterns will revert.
Auto-correlation | -0.38 |
Poor reverse predictability
Excellon Resources has poor reverse predictability. Overlapping area represents the amount of predictability between Excellon Resources time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th 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 Excellon Resources price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Excellon Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Excellon Resources lagged returns against current returns
Autocorrelation, which is Excellon 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 Excellon Resources' stock expected returns. We can calculate the autocorrelation of Excellon Resources returns to help us make a trade decision. For example, suppose you find that Excellon 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 |
| Timeline |
Excellon 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 Excellon Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Excellon Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Excellon Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Excellon Resources Lagged Returns
When evaluating Excellon Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Excellon Resources stock have on its future price. Excellon 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, Excellon Resources autocorrelation shows the relationship between Excellon Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Excellon Resources.
Regressed Prices |
| Timeline |
Pair Trading with Excellon Resources
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 Excellon Resources 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 Excellon Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Excellon Stock
The ability to find closely correlated positions to Excellon Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Excellon Resources 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 Excellon Resources - 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 Excellon Resources to buy it.
The correlation of Excellon Resources 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 Excellon Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Excellon Resources 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 Excellon Resources 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 Excellon Stock
Excellon Resources financial ratios help investors to determine whether Excellon 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 Excellon with respect to the benefits of owning Excellon Resources security.