First Quantum Minerals Stock Market Value
| FM Stock | CAD 18.69 0.22 1.16% |
| Symbol | First |
First Quantum Minerals Price To Book Ratio
First Quantum '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 First Quantum'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 First Quantum.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in First Quantum on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding First Quantum Minerals or generate 0.0% return on investment in First Quantum over 30 days. First Quantum is related to or competes with Lundin Mining, HudBay Minerals, Teck Resources, Ivanhoe Mines, and Agnico Eagle. First Quantum Minerals Ltd. engages in the exploration, development, and production of mineral properties More
First Quantum 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 First Quantum'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 First Quantum Minerals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.54 | |||
| Information Ratio | 0.0368 | |||
| Maximum Drawdown | 17.88 | |||
| Value At Risk | (4.59) | |||
| Potential Upside | 4.96 |
First Quantum Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for First Quantum's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as First Quantum's standard deviation. In reality, there are many statistical measures that can use First Quantum historical prices to predict the future First Quantum's volatility.| Risk Adjusted Performance | 0.0651 | |||
| Jensen Alpha | 0.2389 | |||
| Total Risk Alpha | (0.28) | |||
| Sortino Ratio | 0.035 | |||
| Treynor Ratio | 7.85 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of First Quantum's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
First Quantum Minerals Backtested Returns
First Quantum appears to be not too volatile, given 3 months investment horizon. First Quantum Minerals secures Sharpe Ratio (or Efficiency) of 0.0762, which denotes the company had a 0.0762% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for First Quantum Minerals, which you can use to evaluate the volatility of the firm. Please utilize First Quantum's Mean Deviation of 2.45, coefficient of variation of 1331.93, and Downside Deviation of 3.54 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, First Quantum holds a performance score of 6. The firm shows a Beta (market volatility) of 0.0309, which means not very significant fluctuations relative to the market. As returns on the market increase, First Quantum's returns are expected to increase less than the market. However, during the bear market, the loss of holding First Quantum is expected to be smaller as well. Please check First Quantum's value at risk, as well as the relationship between the skewness and day median price , to make a quick decision on whether First Quantum's price patterns will revert.
Auto-correlation | 0.80 |
Very good predictability
First Quantum Minerals has very good predictability. Overlapping area represents the amount of predictability between First Quantum time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 First Quantum Minerals price movement. The serial correlation of 0.8 indicates that around 80.0% of current First Quantum price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 0.26 |
First Quantum Minerals lagged returns against current returns
Autocorrelation, which is First Quantum 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 First Quantum's stock expected returns. We can calculate the autocorrelation of First Quantum returns to help us make a trade decision. For example, suppose you find that First Quantum 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 |
First Quantum 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 First Quantum stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if First Quantum stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in First Quantum stock over time.
Current vs Lagged Prices |
| Timeline |
First Quantum Lagged Returns
When evaluating First Quantum's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of First Quantum stock have on its future price. First Quantum 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, First Quantum autocorrelation shows the relationship between First Quantum stock current value and its past values and can show if there is a momentum factor associated with investing in First Quantum Minerals.
Regressed Prices |
| Timeline |
Pair Trading with First Quantum
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 First Quantum 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 First Quantum will appreciate offsetting losses from the drop in the long position's value.Moving together with First Stock
| 0.69 | AG | First Majestic Silver | PairCorr |
| 0.72 | IE | Ivanhoe Energy | PairCorr |
| 0.76 | FDY | Faraday Copper Corp | PairCorr |
Moving against First Stock
The ability to find closely correlated positions to First Quantum could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Quantum 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 First Quantum - 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 First Quantum Minerals to buy it.
The correlation of First Quantum 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 First Quantum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Quantum Minerals 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 First Quantum 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 First Stock
First Quantum financial ratios help investors to determine whether First 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 First with respect to the benefits of owning First Quantum security.