DRDGOLD (South Africa) Market Value
| DRD Stock | 1,770 17.00 0.97% |
| Symbol | DRDGOLD |
DRDGOLD '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 DRDGOLD'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 DRDGOLD.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in DRDGOLD on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding DRDGOLD Limited or generate 0.0% return on investment in DRDGOLD over 360 days. DRDGOLD is related to or competes with Kumba Iron, Deneb Investments, HomeChoice Investments, Capitec Bank, Harmony Gold, and Frontier Transport. More
DRDGOLD 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 DRDGOLD'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 DRDGOLD Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.52 | |||
| Information Ratio | 0.051 | |||
| Maximum Drawdown | 11.78 | |||
| Value At Risk | (3.67) | |||
| Potential Upside | 4.87 |
DRDGOLD Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DRDGOLD's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DRDGOLD's standard deviation. In reality, there are many statistical measures that can use DRDGOLD historical prices to predict the future DRDGOLD's volatility.| Risk Adjusted Performance | 0.0854 | |||
| Jensen Alpha | 0.2763 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.0541 | |||
| Treynor Ratio | (2.75) |
DRDGOLD Limited Backtested Returns
DRDGOLD appears to be very steady, given 3 months investment horizon. DRDGOLD Limited secures Sharpe Ratio (or Efficiency) of 0.11, which denotes the company had a 0.11% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for DRDGOLD Limited, which you can use to evaluate the volatility of the firm. Please utilize DRDGOLD's Mean Deviation of 2.08, coefficient of variation of 976.84, and Downside Deviation of 2.52 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, DRDGOLD holds a performance score of 8. The firm shows a Beta (market volatility) of -0.0959, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning DRDGOLD are expected to decrease at a much lower rate. During the bear market, DRDGOLD is likely to outperform the market. Please check DRDGOLD's jensen alpha, maximum drawdown, and the relationship between the coefficient of variation and sortino ratio , to make a quick decision on whether DRDGOLD's price patterns will revert.
Auto-correlation | 0.20 |
Weak predictability
DRDGOLD Limited has weak predictability. Overlapping area represents the amount of predictability between DRDGOLD time series from 7th of December 2023 to 4th of June 2024 and 4th of June 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 DRDGOLD Limited price movement. The serial correlation of 0.2 indicates that over 20.0% of current DRDGOLD price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 38.9 K |
DRDGOLD Limited lagged returns against current returns
Autocorrelation, which is DRDGOLD 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 DRDGOLD's stock expected returns. We can calculate the autocorrelation of DRDGOLD returns to help us make a trade decision. For example, suppose you find that DRDGOLD 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 |
DRDGOLD 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 DRDGOLD stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DRDGOLD stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DRDGOLD stock over time.
Current vs Lagged Prices |
| Timeline |
DRDGOLD Lagged Returns
When evaluating DRDGOLD's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DRDGOLD stock have on its future price. DRDGOLD 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, DRDGOLD autocorrelation shows the relationship between DRDGOLD stock current value and its past values and can show if there is a momentum factor associated with investing in DRDGOLD Limited.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in DRDGOLD Stock
DRDGOLD financial ratios help investors to determine whether DRDGOLD 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 DRDGOLD with respect to the benefits of owning DRDGOLD security.