Denison Historical Valuation
DML Stock | CAD 3.37 0.13 4.01% |
Some fundamental drivers such as market cap or Denison Mines enterprice value can be analyzed from historical perspective to project value of the company into the future. Some investors analyze Denison Mines Corp valuation indicators such as Enterprise Value of 1.7 B to time the market or to short-sell their positions based on the trend in valuation ratios. It is a perfect tool to project the direction of Denison Mines's future value.
Denison |
About Denison Valuation Data Analysis
Valuation is the financial process of determining what Denison Mines is worth. Denison Mines valuation ratios put that insight into the context of a company's share price, where they serve as useful tools for evaluating and utilizing investment potential. Denison Mines valuation ratios help investors to determine whether Denison 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 Denison with respect to the benefits of owning Denison Mines security.
Denison Mines Valuation Data Chart
Working Capital
The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency of the business.Pair Trading with Denison Mines
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 Denison Mines 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 Denison Mines will appreciate offsetting losses from the drop in the long position's value.Moving together with Denison Stock
0.92 | ENB-PFV | Enbridge Pref 5 | PairCorr |
0.7 | ENB-PFU | Enbridge Pref L | PairCorr |
0.91 | ENS | E Split Corp | PairCorr |
0.81 | ENS-PA | E Split Corp | PairCorr |
Moving against Denison Stock
The ability to find closely correlated positions to Denison Mines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Denison Mines 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 Denison Mines - 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 Denison Mines Corp to buy it.
The correlation of Denison Mines 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 Denison Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Denison Mines 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 Denison Mines 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.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Denison Mines Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.