New Found Gold Stock Market Value
| NFG Stock | CAD 2.38 0.12 5.31% |
| Symbol | New |
New Found Gold Price To Book Ratio
New Found '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 New Found'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 New Found.
| 12/03/2023 |
| 12/27/2024 |
If you would invest 0.00 in New Found on December 3, 2023 and sell it all today you would earn a total of 0.00 from holding New Found Gold or generate 0.0% return on investment in New Found over 390 days. New Found is related to or competes with Q Gold, and Goldbank Mining. New Found Gold Corp., a mineral exploration company, engages in the identification, acquisition, and exploration of mine... More
New Found 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 New Found'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 New Found Gold upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 20.35 | |||
| Value At Risk | (6.23) | |||
| Potential Upside | 6.44 |
New Found Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Found's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Found's standard deviation. In reality, there are many statistical measures that can use New Found historical prices to predict the future New Found's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.49) | |||
| Total Risk Alpha | (0.71) | |||
| Treynor Ratio | (4.88) |
New Found Gold Backtested Returns
New Found Gold has Sharpe Ratio of -0.13, which conveys that the firm had a -0.13% return per unit of risk over the last 3 months. New Found exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify New Found's Risk Adjusted Performance of (0.09), mean deviation of 3.15, and Standard Deviation of 4.0 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.1, which conveys not very significant fluctuations relative to the market. As returns on the market increase, New Found's returns are expected to increase less than the market. However, during the bear market, the loss of holding New Found is expected to be smaller as well. At this point, New Found Gold has a negative expected return of -0.52%. Please make sure to verify New Found's value at risk, accumulation distribution, as well as the relationship between the Accumulation Distribution and day typical price , to decide if New Found Gold performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
New Found Gold has insignificant reverse predictability. Overlapping area represents the amount of predictability between New Found time series from 3rd of December 2023 to 15th of June 2024 and 15th of June 2024 to 27th 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 New Found Gold price movement. The serial correlation of -0.19 indicates that over 19.0% of current New Found price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
New Found Gold lagged returns against current returns
Autocorrelation, which is New Found 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 New Found's stock expected returns. We can calculate the autocorrelation of New Found returns to help us make a trade decision. For example, suppose you find that New Found 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 |
New Found 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 New Found stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Found stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Found stock over time.
Current vs Lagged Prices |
| Timeline |
New Found Lagged Returns
When evaluating New Found's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Found stock have on its future price. New Found 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, New Found autocorrelation shows the relationship between New Found stock current value and its past values and can show if there is a momentum factor associated with investing in New Found Gold.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for New Stock Analysis
When running New Found's price analysis, check to measure New Found's 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 New Found is operating at the current time. Most of New Found's value examination focuses on studying past and present price action to predict the probability of New Found's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Found's price. Additionally, you may evaluate how the addition of New Found to your portfolios can decrease your overall portfolio volatility.