Fortune Bay Corp Stock Market Value
| FOR Stock | CAD 0.23 0.01 4.17% |
| Symbol | Fortune |
Fortune Bay Corp Price To Book Ratio
Fortune Bay '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 Fortune Bay'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 Fortune Bay.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Fortune Bay on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Fortune Bay Corp or generate 0.0% return on investment in Fortune Bay over 720 days. Fortune Bay is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. Fortune Bay Corp. acquires, explores for, and develops mineral properties More
Fortune Bay 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 Fortune Bay'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 Fortune Bay Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 26.54 | |||
| Value At Risk | (7.41) | |||
| Potential Upside | 7.69 |
Fortune Bay Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fortune Bay's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fortune Bay's standard deviation. In reality, there are many statistical measures that can use Fortune Bay historical prices to predict the future Fortune Bay's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (1.06) | |||
| Treynor Ratio | (1.43) |
Fortune Bay Corp Backtested Returns
Fortune Bay Corp secures Sharpe Ratio (or Efficiency) of -0.0283, which denotes the company had a -0.0283% return per unit of risk over the last 3 months. Fortune Bay Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fortune Bay's Variance of 23.64, mean deviation of 3.33, and Standard Deviation of 4.86 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.21, which means not very significant fluctuations relative to the market. As returns on the market increase, Fortune Bay's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fortune Bay is expected to be smaller as well. At this point, Fortune Bay Corp has a negative expected return of -0.14%. Please make sure to confirm Fortune Bay's skewness, as well as the relationship between the day median price and relative strength index , to decide if Fortune Bay Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.33 |
Poor reverse predictability
Fortune Bay Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Fortune Bay time series from 9th of December 2022 to 4th of December 2023 and 4th of December 2023 to 28th 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 Fortune Bay Corp price movement. The serial correlation of -0.33 indicates that nearly 33.0% of current Fortune Bay price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.33 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fortune Bay Corp lagged returns against current returns
Autocorrelation, which is Fortune Bay 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 Fortune Bay's stock expected returns. We can calculate the autocorrelation of Fortune Bay returns to help us make a trade decision. For example, suppose you find that Fortune Bay 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 |
Fortune Bay 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 Fortune Bay stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fortune Bay stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fortune Bay stock over time.
Current vs Lagged Prices |
| Timeline |
Fortune Bay Lagged Returns
When evaluating Fortune Bay's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fortune Bay stock have on its future price. Fortune Bay 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, Fortune Bay autocorrelation shows the relationship between Fortune Bay stock current value and its past values and can show if there is a momentum factor associated with investing in Fortune Bay Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Additional Tools for Fortune Stock Analysis
When running Fortune Bay's price analysis, check to measure Fortune Bay's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Fortune Bay is operating at the current time. Most of Fortune Bay's value examination focuses on studying past and present price action to predict the probability of Fortune Bay's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Fortune Bay's price. Additionally, you may evaluate how the addition of Fortune Bay to your portfolios can decrease your overall portfolio volatility.