Trx Gold Corp Stock Market Value
| TNX Stock | CAD 45.70 0.76 1.69% |
| Symbol | TRX |
TRX Gold Corp Price To Book Ratio
TRX Gold '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 TRX Gold'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 TRX Gold.
| 01/01/2023 |
| 12/21/2024 |
If you would invest 0.00 in TRX Gold on January 1, 2023 and sell it all today you would earn a total of 0.00 from holding TRX Gold Corp or generate 0.0% return on investment in TRX Gold over 720 days. TRX Gold is related to or competes with Q Gold, and Goldbank Mining. Tanzanian Gold Corporation engages in the exploration and development of mineral property interests in the United Republ... More
TRX Gold 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 TRX Gold'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 TRX Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.13 | |||
| Information Ratio | 0.2391 | |||
| Maximum Drawdown | 6.69 | |||
| Value At Risk | (1.51) | |||
| Potential Upside | 2.68 |
TRX Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TRX Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TRX Gold's standard deviation. In reality, there are many statistical measures that can use TRX Gold historical prices to predict the future TRX Gold's volatility.| Risk Adjusted Performance | 0.2133 | |||
| Jensen Alpha | 0.328 | |||
| Total Risk Alpha | 0.2891 | |||
| Sortino Ratio | 0.2673 | |||
| Treynor Ratio | (2.08) |
TRX Gold Corp Backtested Returns
TRX Gold appears to be very steady, given 3 months investment horizon. TRX Gold Corp owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.25, which indicates the firm had a 0.25% return per unit of risk over the last 3 months. We have found thirty technical indicators for TRX Gold Corp, which you can use to evaluate the volatility of the company. Please review TRX Gold's Risk Adjusted Performance of 0.2133, coefficient of variation of 377.98, and Semi Deviation of 0.8134 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, TRX Gold holds a performance score of 19. The entity has a beta of -0.16, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning TRX Gold are expected to decrease at a much lower rate. During the bear market, TRX Gold is likely to outperform the market. Please check TRX Gold's accumulation distribution, and the relationship between the semi variance and day typical price , to make a quick decision on whether TRX Gold's existing price patterns will revert.
Auto-correlation | 0.06 |
Virtually no predictability
TRX Gold Corp has virtually no predictability. Overlapping area represents the amount of predictability between TRX Gold time series from 1st of January 2023 to 27th of December 2023 and 27th of December 2023 to 21st 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 TRX Gold Corp price movement. The serial correlation of 0.06 indicates that barely 6.0% of current TRX Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | -0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 318.38 |
TRX Gold Corp lagged returns against current returns
Autocorrelation, which is TRX Gold 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 TRX Gold's stock expected returns. We can calculate the autocorrelation of TRX Gold returns to help us make a trade decision. For example, suppose you find that TRX Gold 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 |
TRX Gold 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 TRX Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TRX Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TRX Gold stock over time.
Current vs Lagged Prices |
| Timeline |
TRX Gold Lagged Returns
When evaluating TRX Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TRX Gold stock have on its future price. TRX Gold 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, TRX Gold autocorrelation shows the relationship between TRX Gold stock current value and its past values and can show if there is a momentum factor associated with investing in TRX Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with TRX Gold
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 TRX Gold 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 TRX Gold will appreciate offsetting losses from the drop in the long position's value.Moving against TRX Stock
| 0.72 | ORE | Orezone Gold Corp | PairCorr |
| 0.67 | VZ | Verizon Communications | PairCorr |
| 0.62 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to TRX Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TRX Gold 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 TRX Gold - 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 TRX Gold Corp to buy it.
The correlation of TRX Gold 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 TRX Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TRX Gold Corp 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 TRX Gold 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 TRX Stock
TRX Gold financial ratios help investors to determine whether TRX 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 TRX with respect to the benefits of owning TRX Gold security.