Dynacor Gold Mines Stock Market Value
| DNG Stock | CAD 5.97 0.02 0.33% |
| Symbol | Dynacor |
Dynacor Gold Mines Price To Book Ratio
Dynacor Gold '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 Dynacor Gold'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 Dynacor Gold.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Dynacor Gold on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Dynacor Gold Mines or generate 0.0% return on investment in Dynacor Gold over 30 days. Dynacor Gold is related to or competes with Erdene Resource, Starcore International, GoldQuest Mining, and Canagold Resources. Dynacor Gold Mines Inc., an ore processing and exploration company, produces gold and silver in Peru More
Dynacor Gold 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 Dynacor Gold'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 Dynacor Gold Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.73 | |||
| Information Ratio | 0.0628 | |||
| Maximum Drawdown | 7.52 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 3.1 |
Dynacor Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Dynacor Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Dynacor Gold's standard deviation. In reality, there are many statistical measures that can use Dynacor Gold historical prices to predict the future Dynacor Gold's volatility.| Risk Adjusted Performance | 0.1114 | |||
| Jensen Alpha | 0.2398 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | 0.0663 | |||
| Treynor Ratio | 12.18 |
Dynacor Gold Mines Backtested Returns
Dynacor Gold appears to be somewhat reliable, given 3 months investment horizon. Dynacor Gold Mines secures Sharpe Ratio (or Efficiency) of 0.19, which denotes the company had a 0.19% return per unit of risk over the last 3 months. We have found thirty technical indicators for Dynacor Gold Mines, which you can use to evaluate the volatility of the firm. Please utilize Dynacor Gold's Mean Deviation of 1.47, coefficient of variation of 724.05, and Downside Deviation of 1.73 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Dynacor Gold holds a performance score of 14. The firm shows a Beta (market volatility) of 0.0199, which means not very significant fluctuations relative to the market. As returns on the market increase, Dynacor Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Dynacor Gold is expected to be smaller as well. Please check Dynacor Gold's total risk alpha, downside variance, daily balance of power, as well as the relationship between the maximum drawdown and skewness , to make a quick decision on whether Dynacor Gold's price patterns will revert.
Auto-correlation | -0.86 |
Excellent reverse predictability
Dynacor Gold Mines has excellent reverse predictability. Overlapping area represents the amount of predictability between Dynacor Gold time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Dynacor Gold Mines price movement. The serial correlation of -0.86 indicates that approximately 86.0% of current Dynacor Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.86 | |
| Spearman Rank Test | -0.8 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Dynacor Gold Mines lagged returns against current returns
Autocorrelation, which is Dynacor Gold 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 Dynacor Gold's stock expected returns. We can calculate the autocorrelation of Dynacor Gold returns to help us make a trade decision. For example, suppose you find that Dynacor Gold 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 |
Dynacor Gold 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 Dynacor Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Dynacor Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Dynacor Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Dynacor Gold Lagged Returns
When evaluating Dynacor Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Dynacor Gold stock have on its future price. Dynacor Gold 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, Dynacor Gold autocorrelation shows the relationship between Dynacor Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Dynacor Gold Mines.
Regressed Prices |
| Timeline |
Pair Trading with Dynacor Gold
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 Dynacor Gold 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 Dynacor Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Dynacor Stock
| 0.76 | AG | First Majestic Silver | PairCorr |
| 0.82 | IE | Ivanhoe Energy | PairCorr |
| 0.79 | FDY | Faraday Copper Corp | PairCorr |
Moving against Dynacor Stock
The ability to find closely correlated positions to Dynacor Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dynacor Gold 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 Dynacor Gold - 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 Dynacor Gold Mines to buy it.
The correlation of Dynacor Gold 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 Dynacor Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Dynacor Gold Mines 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 Dynacor Gold 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 Dynacor Stock
Dynacor Gold financial ratios help investors to determine whether Dynacor 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 Dynacor with respect to the benefits of owning Dynacor Gold security.