Globex Mining Enterprises Stock Market Value
| GMX Stock | CAD 1.16 0.01 0.85% |
| Symbol | Globex |
Globex Mining Enterprises Price To Book Ratio
Globex Mining '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 Globex Mining'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 Globex Mining.
| 11/25/2024 |
| 12/25/2024 |
If you would invest 0.00 in Globex Mining on November 25, 2024 and sell it all today you would earn a total of 0.00 from holding Globex Mining Enterprises or generate 0.0% return on investment in Globex Mining over 30 days. Globex Mining is related to or competes with Outcrop Gold, and Grande Portage. Globex Mining Enterprises Inc. engages in the acquisition, exploration, and development of mineral properties in North A... More
Globex Mining 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 Globex Mining'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 Globex Mining Enterprises upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.13 | |||
| Information Ratio | 0.1723 | |||
| Maximum Drawdown | 11.78 | |||
| Value At Risk | (2.91) | |||
| Potential Upside | 4.81 |
Globex Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Globex Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Globex Mining's standard deviation. In reality, there are many statistical measures that can use Globex Mining historical prices to predict the future Globex Mining's volatility.| Risk Adjusted Performance | 0.1586 | |||
| Jensen Alpha | 0.4674 | |||
| Total Risk Alpha | 0.365 | |||
| Sortino Ratio | 0.2072 | |||
| Treynor Ratio | 1.84 |
Globex Mining Enterprises Backtested Returns
Globex Mining appears to be very risky, given 3 months investment horizon. Globex Mining Enterprises holds Efficiency (Sharpe) Ratio of 0.21, which attests that the entity had a 0.21% return per unit of risk over the last 3 months. By evaluating Globex Mining's technical indicators, you can evaluate if the expected return of 0.55% is justified by implied risk. Please utilize Globex Mining's Risk Adjusted Performance of 0.1586, market risk adjusted performance of 1.85, and Downside Deviation of 2.13 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Globex Mining holds a performance score of 16. The company retains a Market Volatility (i.e., Beta) of 0.26, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Globex Mining's returns are expected to increase less than the market. However, during the bear market, the loss of holding Globex Mining is expected to be smaller as well. Please check Globex Mining's treynor ratio, kurtosis, relative strength index, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Globex Mining's current trending patterns will revert.
Auto-correlation | 0.40 |
Average predictability
Globex Mining Enterprises has average predictability. Overlapping area represents the amount of predictability between Globex Mining time series from 25th of November 2024 to 10th of December 2024 and 10th of December 2024 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 Globex Mining Enterprises price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Globex Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Globex Mining Enterprises lagged returns against current returns
Autocorrelation, which is Globex Mining 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 Globex Mining's stock expected returns. We can calculate the autocorrelation of Globex Mining returns to help us make a trade decision. For example, suppose you find that Globex Mining 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 |
Globex Mining 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 Globex Mining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Globex Mining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Globex Mining stock over time.
Current vs Lagged Prices |
| Timeline |
Globex Mining Lagged Returns
When evaluating Globex Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Globex Mining stock have on its future price. Globex Mining 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, Globex Mining autocorrelation shows the relationship between Globex Mining stock current value and its past values and can show if there is a momentum factor associated with investing in Globex Mining Enterprises.
Regressed Prices |
| Timeline |
Pair Trading with Globex Mining
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 Globex Mining 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 Globex Mining will appreciate offsetting losses from the drop in the long position's value.Moving against Globex Stock
| 0.63 | ORE | Orezone Gold Corp | PairCorr |
| 0.61 | INFM | Infinico Metals Corp | PairCorr |
| 0.35 | TKU | Tarku Resources | PairCorr |
The ability to find closely correlated positions to Globex Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Globex Mining 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 Globex Mining - 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 Globex Mining Enterprises to buy it.
The correlation of Globex Mining 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 Globex Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Globex Mining Enterprises 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 Globex Mining 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 Globex Stock
Globex Mining financial ratios help investors to determine whether Globex 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 Globex with respect to the benefits of owning Globex Mining security.