Yangarra Resources Stock Market Value
| YGR Stock | CAD 1.02 0.03 3.03% |
| Symbol | Yangarra |
Yangarra Resources Price To Book Ratio
Yangarra 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 Yangarra 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 Yangarra Resources.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Yangarra Resources on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Yangarra Resources or generate 0.0% return on investment in Yangarra Resources over 30 days. Yangarra Resources is related to or competes with InPlay Oil, Bonterra Energy, Gear Energy, Kelt Exploration, and Cardinal Energy. Yangarra Resources Ltd., a junior oil and gas company, explores for, develops, and produces resource properties in Weste... More
Yangarra 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 Yangarra 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 Yangarra Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 10.62 | |||
| Value At Risk | (3.03) | |||
| Potential Upside | 3.19 |
Yangarra Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Yangarra Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Yangarra Resources' standard deviation. In reality, there are many statistical measures that can use Yangarra Resources historical prices to predict the future Yangarra Resources' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | (0.22) |
Yangarra Resources Backtested Returns
Yangarra Resources shows Sharpe Ratio of -0.017, which attests that the company had a -0.017% return per unit of risk over the last 3 months. Yangarra Resources exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Yangarra Resources' Mean Deviation of 1.73, standard deviation of 2.24, and Market Risk Adjusted Performance of (0.21) to validate the risk estimate we provide. The firm maintains a market beta of 0.52, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Yangarra Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Yangarra Resources is expected to be smaller as well. At this point, Yangarra Resources has a negative expected return of -0.0369%. Please make sure to check out Yangarra Resources' skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if Yangarra Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.22 |
Weak reverse predictability
Yangarra Resources has weak reverse predictability. Overlapping area represents the amount of predictability between Yangarra Resources time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd 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 Yangarra Resources price movement. The serial correlation of -0.22 indicates that over 22.0% of current Yangarra Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Yangarra Resources lagged returns against current returns
Autocorrelation, which is Yangarra 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 Yangarra Resources' stock expected returns. We can calculate the autocorrelation of Yangarra Resources returns to help us make a trade decision. For example, suppose you find that Yangarra 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 |
Yangarra 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 Yangarra Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Yangarra Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Yangarra Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Yangarra Resources Lagged Returns
When evaluating Yangarra Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Yangarra Resources stock have on its future price. Yangarra 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, Yangarra Resources autocorrelation shows the relationship between Yangarra Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Yangarra Resources.
Regressed Prices |
| Timeline |
Pair Trading with Yangarra 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 Yangarra 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 Yangarra Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Yangarra Stock
| 0.59 | ENS-PA | E Split Corp | PairCorr |
| 0.53 | ENS | E Split Corp | PairCorr |
| 0.51 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.44 | NA-PG | National Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Yangarra 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 Yangarra 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 Yangarra 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 Yangarra Resources to buy it.
The correlation of Yangarra 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 Yangarra Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Yangarra 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 Yangarra 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 Yangarra Stock
Yangarra Resources financial ratios help investors to determine whether Yangarra 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 Yangarra with respect to the benefits of owning Yangarra Resources security.