Solaris Resources Stock Market Value
| SLS Stock | 4.51 0.23 5.37% |
| Symbol | Solaris |
Solaris Resources Price To Book Ratio
Solaris 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 Solaris 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 Solaris Resources.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Solaris Resources on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Solaris Resources or generate 0.0% return on investment in Solaris Resources over 30 days. Solaris Resources is related to or competes with Filo Mining, Equinox Gold, Ero Copper, and Skeena Resources. Solaris Resources is entity of Canada. It is traded as Stock on TO exchange. More
Solaris 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 Solaris 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 Solaris Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.1 | |||
| Information Ratio | 0.1005 | |||
| Maximum Drawdown | 30.41 | |||
| Value At Risk | (4.97) | |||
| Potential Upside | 6.03 |
Solaris Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solaris Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solaris Resources' standard deviation. In reality, there are many statistical measures that can use Solaris Resources historical prices to predict the future Solaris Resources' volatility.| Risk Adjusted Performance | 0.0936 | |||
| Jensen Alpha | 0.4479 | |||
| Total Risk Alpha | 0.3454 | |||
| Sortino Ratio | 0.1443 | |||
| Treynor Ratio | 0.4695 |
Solaris Resources Backtested Returns
Solaris Resources appears to be unstable, given 3 months investment horizon. Solaris Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.11, which indicates the firm had a 0.11% return per unit of risk over the last 3 months. By inspecting Solaris Resources' technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please review Solaris Resources' Risk Adjusted Performance of 0.0936, coefficient of variation of 928.03, and Semi Deviation of 2.67 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Solaris Resources holds a performance score of 8. The entity has a beta of 1.0, which indicates a somewhat significant risk relative to the market. Solaris Resources returns are very sensitive to returns on the market. As the market goes up or down, Solaris Resources is expected to follow. Please check Solaris Resources' treynor ratio, kurtosis, period momentum indicator, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Solaris Resources' existing price patterns will revert.
Auto-correlation | 0.27 |
Poor predictability
Solaris Resources has poor predictability. Overlapping area represents the amount of predictability between Solaris Resources time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Solaris Resources price movement. The serial correlation of 0.27 indicates that nearly 27.0% of current Solaris Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.27 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Solaris Resources lagged returns against current returns
Autocorrelation, which is Solaris 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 Solaris Resources' stock expected returns. We can calculate the autocorrelation of Solaris Resources returns to help us make a trade decision. For example, suppose you find that Solaris 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 |
Solaris 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 Solaris Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solaris Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solaris Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Solaris Resources Lagged Returns
When evaluating Solaris Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solaris Resources stock have on its future price. Solaris 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, Solaris Resources autocorrelation shows the relationship between Solaris Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Solaris Resources.
Regressed Prices |
| Timeline |
Pair Trading with Solaris 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 Solaris 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 Solaris Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Solaris Stock
| 0.71 | FDY | Faraday Copper Corp | PairCorr |
| 0.69 | INFM | Infinico Metals Corp | PairCorr |
| 0.65 | ORE | Orezone Gold Corp | PairCorr |
| 0.51 | PIC-A | Premium Income Split | PairCorr |
| 0.44 | AG | First Majestic Silver | PairCorr |
The ability to find closely correlated positions to Solaris 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 Solaris 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 Solaris 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 Solaris Resources to buy it.
The correlation of Solaris 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 Solaris Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solaris 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 Solaris 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 Solaris Stock
Solaris Resources financial ratios help investors to determine whether Solaris 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 Solaris with respect to the benefits of owning Solaris Resources security.