Fury Gold Mines Stock Market Value
| FURY Stock | CAD 0.59 0.01 1.67% |
| Symbol | Fury |
Fury Gold Mines Price To Book Ratio
Fury 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 Fury 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 Fury Gold.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Fury Gold on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Fury Gold Mines or generate 0.0% return on investment in Fury Gold over 720 days. Fury Gold is related to or competes with Liberty Gold, GoldMining, First Mining, and Aris Gold. Fury Gold Mines Limited operates as an exploration and development company in Canada More
Fury 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 Fury 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 Fury Gold Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.87 | |||
| Information Ratio | 0.0323 | |||
| Maximum Drawdown | 12.44 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 5.08 |
Fury Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fury Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fury Gold's standard deviation. In reality, there are many statistical measures that can use Fury Gold historical prices to predict the future Fury Gold's volatility.| Risk Adjusted Performance | 0.0725 | |||
| Jensen Alpha | 0.1139 | |||
| Total Risk Alpha | (0.22) | |||
| Sortino Ratio | 0.029 | |||
| Treynor Ratio | 0.2775 |
Fury Gold Mines Backtested Returns
Fury Gold appears to be extremely dangerous, given 3 months investment horizon. Fury Gold Mines 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-eight technical indicators for Fury Gold Mines, which you can use to evaluate the volatility of the firm. Please utilize Fury Gold's Coefficient Of Variation of 1168.15, mean deviation of 2.03, and Downside Deviation of 2.87 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Fury Gold holds a performance score of 8. The firm shows a Beta (market volatility) of 0.76, which means possible diversification benefits within a given portfolio. As returns on the market increase, Fury Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Fury Gold is expected to be smaller as well. Please check Fury Gold's sortino ratio, potential upside, skewness, as well as the relationship between the maximum drawdown and semi variance , to make a quick decision on whether Fury Gold's price patterns will revert.
Auto-correlation | -0.23 |
Weak reverse predictability
Fury Gold Mines has weak reverse predictability. Overlapping area represents the amount of predictability between Fury Gold time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Fury Gold Mines price movement. The serial correlation of -0.23 indicates that over 23.0% of current Fury Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | -0.15 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Fury Gold Mines lagged returns against current returns
Autocorrelation, which is Fury 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 Fury Gold's stock expected returns. We can calculate the autocorrelation of Fury Gold returns to help us make a trade decision. For example, suppose you find that Fury 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 |
Fury 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 Fury Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fury Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fury Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Fury Gold Lagged Returns
When evaluating Fury Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fury Gold stock have on its future price. Fury 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, Fury Gold autocorrelation shows the relationship between Fury Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Fury Gold Mines.
Regressed Prices |
| Timeline |
Pair Trading with Fury 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 Fury 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 Fury Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Fury Stock
The ability to find closely correlated positions to Fury 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 Fury 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 Fury 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 Fury Gold Mines to buy it.
The correlation of Fury 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 Fury Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fury 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 Fury 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.Check out Fury Gold Correlation, Fury Gold Volatility and Fury Gold Alpha and Beta module to complement your research on Fury Gold. You can also try the Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Fury Gold 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.