Canex Metals Stock Probability of Future Stock Price Finishing Over 30.51
| CANX Stock | CAD 0.04 0.01 12.50% |
CANEX |
CANEX Metals Target Price Odds to finish over 30.51
The tendency of CANEX Stock price to converge on an average value over time is a known aspect in finance that investors have used since the beginning of the stock market for forecasting. However, many studies suggest that some traded equity instruments are consistently mispriced before traders' demand and supply correct the spread. One possible conclusion to this anomaly is that these stocks have additional risk, for which investors demand compensation in the form of extra returns.
| Current Price | Horizon | Target Price | Odds to move over C$ 30.51 or more in 90 days |
| 0.04 | 90 days | 30.51 | close to zero percent |
Based on a normal probability distribution, the odds of CANEX Metals to move over C$ 30.51 or more in 90 days from now is close to zero percent (This CANEX Metals probability density function shows the probability of CANEX Stock to fall within a particular range of prices over 90 days) . Probability of CANEX Metals price to stay between its current price of C$ 0.04 and C$ 30.51 at the end of the 90-day period is about 92.39 .
Assuming the 90 days trading horizon CANEX Metals has a beta of -0.75 suggesting as returns on the benchmark increase, returns on holding CANEX Metals are expected to decrease at a much lower rate. During a bear market, however, CANEX Metals is likely to outperform the market. Additionally CANEX Metals has an alpha of 0.1431, implying that it can generate a 0.14 percent excess return over Dow Jones Industrial after adjusting for the inherited market risk (beta). CANEX Metals Price Density |
| Price |
Predictive Modules for CANEX Metals
There are currently many different techniques concerning forecasting the market as a whole, as well as predicting future values of individual securities such as CANEX Metals. Regardless of method or technology, however, to accurately forecast the stock market is more a matter of luck rather than a particular technique. Nevertheless, trying to predict the stock market accurately is still an essential part of the overall investment decision process. Using different forecasting techniques and comparing the results might improve your chances of accuracy even though unexpected events may often change the market sentiment and impact your forecasting results.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CANEX Metals' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
CANEX Metals Risk Indicators
For the most part, the last 10-20 years have been a very volatile time for the stock market. CANEX Metals is not an exception. The market had few large corrections towards the CANEX Metals' value, including both sudden drops in prices as well as massive rallies. These swings have made and broken many portfolios. An investor can limit the violent swings in their portfolio by implementing a hedging strategy designed to limit downside losses. If you hold CANEX Metals, one way to have your portfolio be protected is to always look up for changing volatility and market elasticity of CANEX Metals within the framework of very fundamental risk indicators.α | Alpha over Dow Jones | 0.14 | |
β | Beta against Dow Jones | -0.75 | |
σ | Overall volatility | 0.01 | |
Ir | Information ratio | 0 |
CANEX Metals Alerts and Suggestions
In today's market, stock alerts give investors the competitive edge they need to time the market and increase returns. Checking the ongoing alerts of CANEX Metals for significant developments is a great way to find new opportunities for your next move. Suggestions and notifications for CANEX Metals can help investors quickly react to important events or material changes in technical or fundamental conditions and significant headlines that can affect investment decisions.| CANEX Metals generated a negative expected return over the last 90 days | |
| CANEX Metals has high historical volatility and very poor performance | |
| CANEX Metals has some characteristics of a very speculative penny stock | |
| Net Loss for the year was (535.4 K) with profit before overhead, payroll, taxes, and interest of 0. | |
| CANEX Metals has accumulated about 480.92 K in cash with (465.71 K) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.02. | |
| Roughly 13.0% of the company shares are held by company insiders | |
| Latest headline from news.google.com: CANEX Metals Secures 437K Premium-Priced Financing for Gold-Copper Projects NOMNF Stock News - StockTitan |
CANEX Metals Price Density Drivers
Market volatility will typically increase when nervous long traders begin to feel the short-sellers pressure to drive the market lower. The future price of CANEX Stock often depends not only on the future outlook of the current and potential CANEX Metals' investors but also on the ongoing dynamics between investors with different trading styles. Because the market risk indicators may have small false signals, it is better to identify suitable times to hedge a portfolio using different long/short signals. CANEX Metals' indicators that are reflective of the short sentiment are summarized in the table below.
| Common Stock Shares Outstanding | 100.3 M | |
| Cash And Short Term Investments | 785.8 K |
CANEX Metals Technical Analysis
CANEX Metals' future price can be derived by breaking down and analyzing its technical indicators over time. CANEX Stock technical analysis helps investors analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of CANEX Metals. In general, you should focus on analyzing CANEX Stock price patterns and their correlations with different microeconomic environments and drivers.
CANEX Metals Predictive Forecast Models
CANEX Metals' time-series forecasting models is one of many CANEX Metals' stock analysis techniques aimed to predict future share value based on previously observed values. Time-series forecasting models are widely used for non-stationary data. Non-stationary data are called the data whose statistical properties, e.g., the mean and standard deviation, are not constant over time, but instead, these metrics vary over time. This non-stationary CANEX Metals' historical data is usually called time series. Some empirical experimentation suggests that the statistical forecasting models outperform the models based exclusively on fundamental analysis to predict the direction of the stock market movement and maximize returns from investment trading.
Things to note about CANEX Metals
Checking the ongoing alerts about CANEX Metals for important developments is a great way to find new opportunities for your next move. Our stock alerts and notifications screener for CANEX Metals help investors to be notified of important events, changes in technical or fundamental conditions, and significant headlines that can affect investment decisions.
| CANEX Metals generated a negative expected return over the last 90 days | |
| CANEX Metals has high historical volatility and very poor performance | |
| CANEX Metals has some characteristics of a very speculative penny stock | |
| Net Loss for the year was (535.4 K) with profit before overhead, payroll, taxes, and interest of 0. | |
| CANEX Metals has accumulated about 480.92 K in cash with (465.71 K) of positive cash flow from operations. This results in cash-per-share (CPS) ratio of 0.02. | |
| Roughly 13.0% of the company shares are held by company insiders | |
| Latest headline from news.google.com: CANEX Metals Secures 437K Premium-Priced Financing for Gold-Copper Projects NOMNF Stock News - StockTitan |
Additional Tools for CANEX Stock Analysis
When running CANEX Metals' price analysis, check to measure CANEX Metals' 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 CANEX Metals is operating at the current time. Most of CANEX Metals' value examination focuses on studying past and present price action to predict the probability of CANEX Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CANEX Metals' price. Additionally, you may evaluate how the addition of CANEX Metals to your portfolios can decrease your overall portfolio volatility.