29Metals (Australia) Market Value
| 29M Stock | 0.37 0.01 2.63% |
| Symbol | 29Metals |
29Metals '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 29Metals' 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 29Metals.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in 29Metals on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding 29Metals or generate 0.0% return on investment in 29Metals over 720 days. 29Metals is related to or competes with Northern Star, Evolution Mining, Bluescope Steel, Sandfire Resources, Aneka Tambang, De Grey, and Perseus Mining. 29Metals is entity of Australia. It is traded as Stock on AU exchange. More
29Metals 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 29Metals' 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 29Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.76 | |||
| Information Ratio | 0.0093 | |||
| Maximum Drawdown | 38.1 | |||
| Value At Risk | (5.56) | |||
| Potential Upside | 7.84 |
29Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 29Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 29Metals' standard deviation. In reality, there are many statistical measures that can use 29Metals historical prices to predict the future 29Metals' volatility.| Risk Adjusted Performance | 0.0344 | |||
| Jensen Alpha | 0.1015 | |||
| Total Risk Alpha | (0.61) | |||
| Sortino Ratio | 0.0082 | |||
| Treynor Ratio | 0.3065 |
29Metals Backtested Returns
Currently, 29Metals is out of control. 29Metals secures Sharpe Ratio (or Efficiency) of 0.0172, which signifies that the company had a 0.0172% return per unit of price deviation over the last 3 months. We have found twenty-nine technical indicators for 29Metals, which you can use to evaluate the volatility of the entity. Please confirm 29Metals' Standard Deviation of 5.1, coefficient of variation of 2953.45, and Mean Deviation of 3.57 to double-check if the risk estimate we provide is consistent with the expected return of 0.0863%. 29Metals has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.53, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, 29Metals' returns are expected to increase less than the market. However, during the bear market, the loss of holding 29Metals is expected to be smaller as well. 29Metals today shows a risk of 5.02%. Please confirm 29Metals coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if 29Metals will be following its price patterns.
Auto-correlation | 0.20 |
Weak predictability
29Metals has weak predictability. Overlapping area represents the amount of predictability between 29Metals time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th of November 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 29Metals price movement. The serial correlation of 0.2 indicates that over 20.0% of current 29Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
29Metals lagged returns against current returns
Autocorrelation, which is 29Metals 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 29Metals' stock expected returns. We can calculate the autocorrelation of 29Metals returns to help us make a trade decision. For example, suppose you find that 29Metals 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 |
29Metals 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 29Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 29Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 29Metals stock over time.
Current vs Lagged Prices |
| Timeline |
29Metals Lagged Returns
When evaluating 29Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 29Metals stock have on its future price. 29Metals 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, 29Metals autocorrelation shows the relationship between 29Metals stock current value and its past values and can show if there is a momentum factor associated with investing in 29Metals.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for 29Metals Stock Analysis
When running 29Metals' price analysis, check to measure 29Metals' 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 29Metals is operating at the current time. Most of 29Metals' value examination focuses on studying past and present price action to predict the probability of 29Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move 29Metals' price. Additionally, you may evaluate how the addition of 29Metals to your portfolios can decrease your overall portfolio volatility.