Alta Copper Corp Stock Market Value
| ATCU Stock | 0.48 0.01 2.13% |
| Symbol | Alta |
Alta Copper '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 Alta Copper'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 Alta Copper.
| 04/06/2024 |
| 12/02/2024 |
If you would invest 0.00 in Alta Copper on April 6, 2024 and sell it all today you would earn a total of 0.00 from holding Alta Copper Corp or generate 0.0% return on investment in Alta Copper over 240 days. Alta Copper is related to or competes with Verizon Communications, Dream Office, Profound Medical, Canso Select, Algoma Steel, and East Side. Alta Copper is entity of Canada. It is traded as Stock on TO exchange. More
Alta Copper 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 Alta Copper'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 Alta Copper Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 21.98 | |||
| Value At Risk | (5.45) | |||
| Potential Upside | 7.69 |
Alta Copper Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alta Copper's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alta Copper's standard deviation. In reality, there are many statistical measures that can use Alta Copper historical prices to predict the future Alta Copper's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.81) | |||
| Treynor Ratio | (0.22) |
Alta Copper Corp Backtested Returns
Alta Copper Corp secures Sharpe Ratio (or Efficiency) of -0.0262, which signifies that the company had a -0.0262% return per unit of risk over the last 3 months. Alta Copper Corp exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alta Copper's Risk Adjusted Performance of (0.02), standard deviation of 3.99, and Mean Deviation of 2.96 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.62, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Alta Copper's returns are expected to increase less than the market. However, during the bear market, the loss of holding Alta Copper is expected to be smaller as well. At this point, Alta Copper Corp has a negative expected return of -0.11%. Please make sure to confirm Alta Copper's total risk alpha, potential upside, kurtosis, as well as the relationship between the treynor ratio and skewness , to decide if Alta Copper Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.24 |
Weak predictability
Alta Copper Corp has weak predictability. Overlapping area represents the amount of predictability between Alta Copper time series from 6th of April 2024 to 4th of August 2024 and 4th of August 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 Alta Copper Corp price movement. The serial correlation of 0.24 indicates that over 24.0% of current Alta Copper price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Alta Copper Corp lagged returns against current returns
Autocorrelation, which is Alta Copper 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 Alta Copper's stock expected returns. We can calculate the autocorrelation of Alta Copper returns to help us make a trade decision. For example, suppose you find that Alta Copper 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 |
Alta Copper 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 Alta Copper stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alta Copper stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alta Copper stock over time.
Current vs Lagged Prices |
| Timeline |
Alta Copper Lagged Returns
When evaluating Alta Copper's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alta Copper stock have on its future price. Alta Copper 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, Alta Copper autocorrelation shows the relationship between Alta Copper stock current value and its past values and can show if there is a momentum factor associated with investing in Alta Copper Corp.
Regressed Prices |
| Timeline |
Pair Trading with Alta Copper
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 Alta Copper 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 Alta Copper will appreciate offsetting losses from the drop in the long position's value.Moving together with Alta Stock
Moving against Alta Stock
The ability to find closely correlated positions to Alta Copper could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alta Copper 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 Alta Copper - 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 Alta Copper Corp to buy it.
The correlation of Alta Copper 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 Alta Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alta Copper 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 Alta Copper 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 Alta Stock
Alta Copper financial ratios help investors to determine whether Alta 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 Alta with respect to the benefits of owning Alta Copper security.