Pjx Resources Stock Market Value
PJX Stock | CAD 0.11 0.01 8.33% |
Symbol | PJX |
PJX 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 PJX 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 PJX Resources.
11/08/2024 |
| 12/08/2024 |
If you would invest 0.00 in PJX Resources on November 8, 2024 and sell it all today you would earn a total of 0.00 from holding PJX Resources or generate 0.0% return on investment in PJX Resources over 30 days. PJX Resources is related to or competes with Nicola Mining, Storage Vault, Globex Mining, Data Communications, and DRI Healthcare. PJX Resources Inc., a mineral exploration company, explores for and develops mineral properties in Canada More
PJX 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 PJX 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 PJX Resources upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.08) | |||
Maximum Drawdown | 40.4 | |||
Value At Risk | (10.00) | |||
Potential Upside | 15.79 |
PJX Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PJX Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PJX Resources' standard deviation. In reality, there are many statistical measures that can use PJX Resources historical prices to predict the future PJX Resources' volatility.Risk Adjusted Performance | (0.03) | |||
Jensen Alpha | (0.31) | |||
Total Risk Alpha | (1.69) | |||
Treynor Ratio | 0.5092 |
PJX Resources Backtested Returns
PJX Resources maintains Sharpe Ratio (i.e., Efficiency) of -0.0574, which implies the firm had a -0.0574% return per unit of standard deviation over the last 3 months. PJX Resources exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PJX Resources' Market Risk Adjusted Performance of 0.5192, coefficient of variation of (1,755), and Risk Adjusted Performance of (0.03) to confirm the risk estimate we provide. The company holds a Beta of -0.83, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning PJX Resources are expected to decrease at a much lower rate. During the bear market, PJX Resources is likely to outperform the market. At this point, PJX Resources has a negative expected return of -0.42%. Please make sure to check PJX Resources' potential upside and day median price , to decide if PJX Resources performance from the past will be repeated at some future point.
Auto-correlation | -0.51 |
Good reverse predictability
PJX Resources has good reverse predictability. Overlapping area represents the amount of predictability between PJX Resources time series from 8th of November 2024 to 23rd of November 2024 and 23rd of November 2024 to 8th 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 PJX Resources price movement. The serial correlation of -0.51 indicates that about 51.0% of current PJX Resources price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.51 | |
Spearman Rank Test | -0.44 | |
Residual Average | 0.0 | |
Price Variance | 0.0 |
PJX Resources lagged returns against current returns
Autocorrelation, which is PJX 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 PJX Resources' stock expected returns. We can calculate the autocorrelation of PJX Resources returns to help us make a trade decision. For example, suppose you find that PJX 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 |
PJX 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 PJX Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PJX Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PJX Resources stock over time.
Current vs Lagged Prices |
Timeline |
PJX Resources Lagged Returns
When evaluating PJX Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PJX Resources stock have on its future price. PJX 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, PJX Resources autocorrelation shows the relationship between PJX Resources stock current value and its past values and can show if there is a momentum factor associated with investing in PJX Resources.
Regressed Prices |
Timeline |
Thematic Opportunities
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Additional Tools for PJX Stock Analysis
When running PJX Resources' price analysis, check to measure PJX 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 PJX Resources is operating at the current time. Most of PJX Resources' value examination focuses on studying past and present price action to predict the probability of PJX Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move PJX Resources' price. Additionally, you may evaluate how the addition of PJX Resources to your portfolios can decrease your overall portfolio volatility.