Headwater Exploration Stock Market Value
| HWX Stock | CAD 6.88 0.01 0.15% |
| Symbol | Headwater |
Headwater Exploration Price To Book Ratio
Headwater Exploration '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 Headwater Exploration'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 Headwater Exploration.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Headwater Exploration on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Headwater Exploration or generate 0.0% return on investment in Headwater Exploration over 30 days. Headwater Exploration is related to or competes with Tamarack Valley, Gear Energy, Cardinal Energy, and NuVista Energy. Headwater Exploration Inc., a junior resource company, engages in the exploration, development, and production of petrol... More
Headwater Exploration 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 Headwater Exploration'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 Headwater Exploration upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.12 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 8.92 | |||
| Value At Risk | (2.98) | |||
| Potential Upside | 2.62 |
Headwater Exploration Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Headwater Exploration's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Headwater Exploration's standard deviation. In reality, there are many statistical measures that can use Headwater Exploration historical prices to predict the future Headwater Exploration's volatility.| Risk Adjusted Performance | 0.0287 | |||
| Jensen Alpha | 0.0576 | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.39) |
Headwater Exploration Backtested Returns
As of now, Headwater Stock is somewhat reliable. Headwater Exploration holds Efficiency (Sharpe) Ratio of 0.0464, which attests that the entity had a 0.0464% return per unit of standard deviation over the last 3 months. We have found twenty-eight technical indicators for Headwater Exploration, which you can use to evaluate the volatility of the firm. Please check out Headwater Exploration's risk adjusted performance of 0.0287, and Market Risk Adjusted Performance of (0.38) to validate if the risk estimate we provide is consistent with the expected return of 0.081%. Headwater Exploration has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.11, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Headwater Exploration are expected to decrease at a much lower rate. During the bear market, Headwater Exploration is likely to outperform the market. Headwater Exploration right now retains a risk of 1.74%. Please check out Headwater Exploration value at risk, daily balance of power, and the relationship between the total risk alpha and expected short fall , to decide if Headwater Exploration will be following its current trending patterns.
Auto-correlation | 0.83 |
Very good predictability
Headwater Exploration has very good predictability. Overlapping area represents the amount of predictability between Headwater Exploration time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 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 Headwater Exploration price movement. The serial correlation of 0.83 indicates that around 83.0% of current Headwater Exploration price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Headwater Exploration lagged returns against current returns
Autocorrelation, which is Headwater Exploration 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 Headwater Exploration's stock expected returns. We can calculate the autocorrelation of Headwater Exploration returns to help us make a trade decision. For example, suppose you find that Headwater Exploration 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 |
Headwater Exploration 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 Headwater Exploration stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Headwater Exploration stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Headwater Exploration stock over time.
Current vs Lagged Prices |
| Timeline |
Headwater Exploration Lagged Returns
When evaluating Headwater Exploration's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Headwater Exploration stock have on its future price. Headwater Exploration 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, Headwater Exploration autocorrelation shows the relationship between Headwater Exploration stock current value and its past values and can show if there is a momentum factor associated with investing in Headwater Exploration.
Regressed Prices |
| Timeline |
Pair Trading with Headwater Exploration
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 Headwater Exploration 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 Headwater Exploration will appreciate offsetting losses from the drop in the long position's value.Moving together with Headwater Stock
Moving against Headwater Stock
The ability to find closely correlated positions to Headwater Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Headwater Exploration 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 Headwater Exploration - 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 Headwater Exploration to buy it.
The correlation of Headwater Exploration 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 Headwater Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Headwater Exploration 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 Headwater Exploration 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 Headwater Stock
Headwater Exploration financial ratios help investors to determine whether Headwater 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 Headwater with respect to the benefits of owning Headwater Exploration security.