Contango Ore Stock Market Value
| CTGO Stock | USD 18.25 0.15 0.83% |
| Symbol | Contango |
Contango ORE Price To Book Ratio
Is Diversified Metals & Mining space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Contango ORE. If investors know Contango will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Contango ORE listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (6.80) | Return On Assets (0.21) | Return On Equity (5.05) |
The market value of Contango ORE is measured differently than its book value, which is the value of Contango that is recorded on the company's balance sheet. Investors also form their own opinion of Contango ORE's value that differs from its market value or its book value, called intrinsic value, which is Contango ORE's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Contango ORE's market value can be influenced by many factors that don't directly affect Contango ORE's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Contango ORE's value and its price as these two are different measures arrived at by different means. Investors typically determine if Contango ORE is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Contango ORE's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Contango ORE '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 Contango ORE'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 Contango ORE.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Contango ORE on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding Contango ORE or generate 0.0% return on investment in Contango ORE over 60 days. Contango ORE is related to or competes with First Guaranty, Glen Burnie, and Princeton Capital. Contango Ore, Inc., an exploration stage company, engages in the exploration of gold and associated minerals in the Unit... More
Contango ORE 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 Contango ORE'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 Contango ORE upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 18.75 | |||
| Value At Risk | (4.66) | |||
| Potential Upside | 5.95 |
Contango ORE Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Contango ORE's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Contango ORE's standard deviation. In reality, there are many statistical measures that can use Contango ORE historical prices to predict the future Contango ORE's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.71) | |||
| Treynor Ratio | (0.23) |
Contango ORE Backtested Returns
Contango ORE secures Sharpe Ratio (or Efficiency) of -0.0337, which signifies that the company had a -0.0337% return per unit of risk over the last 3 months. Contango ORE exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Contango ORE's Risk Adjusted Performance of (0.03), standard deviation of 3.38, and Mean Deviation of 2.42 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.8, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Contango ORE's returns are expected to increase less than the market. However, during the bear market, the loss of holding Contango ORE is expected to be smaller as well. At this point, Contango ORE has a negative expected return of -0.11%. Please make sure to confirm Contango ORE's information ratio, potential upside, as well as the relationship between the Potential Upside and rate of daily change , to decide if Contango ORE performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.51 |
Good reverse predictability
Contango ORE has good reverse predictability. Overlapping area represents the amount of predictability between Contango ORE time series from 27th of September 2024 to 27th of October 2024 and 27th of October 2024 to 26th 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 Contango ORE price movement. The serial correlation of -0.51 indicates that about 51.0% of current Contango ORE price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.51 | |
| Spearman Rank Test | -0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 2.51 |
Contango ORE lagged returns against current returns
Autocorrelation, which is Contango ORE 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 Contango ORE's stock expected returns. We can calculate the autocorrelation of Contango ORE returns to help us make a trade decision. For example, suppose you find that Contango ORE 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 |
Contango ORE 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 Contango ORE stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Contango ORE stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Contango ORE stock over time.
Current vs Lagged Prices |
| Timeline |
Contango ORE Lagged Returns
When evaluating Contango ORE's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Contango ORE stock have on its future price. Contango ORE 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, Contango ORE autocorrelation shows the relationship between Contango ORE stock current value and its past values and can show if there is a momentum factor associated with investing in Contango ORE.
Regressed Prices |
| Timeline |
Pair Trading with Contango ORE
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 Contango ORE 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 Contango ORE will appreciate offsetting losses from the drop in the long position's value.Moving together with Contango Stock
Moving against Contango Stock
The ability to find closely correlated positions to Contango ORE could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Contango ORE 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 Contango ORE - 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 Contango ORE to buy it.
The correlation of Contango ORE 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 Contango ORE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Contango ORE 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 Contango ORE 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 Contango ORE Correlation, Contango ORE Volatility and Contango ORE Alpha and Beta module to complement your research on Contango ORE. To learn how to invest in Contango Stock, please use our How to Invest in Contango ORE guide.You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Contango ORE technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.