Freegold Ventures Limited Stock Market Value
| FVL Stock | CAD 0.81 0.01 1.22% |
| Symbol | Freegold |
Freegold Ventures Price To Book Ratio
Freegold Ventures '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 Freegold Ventures' 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 Freegold Ventures.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Freegold Ventures on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Freegold Ventures Limited or generate 0.0% return on investment in Freegold Ventures over 30 days. Freegold Ventures is related to or competes with Teuton Resources, Dolly Varden, Galway Metals, Liberty Gold, and GoGold Resources. Freegold Ventures Limited, an exploration stage company, engages in the acquisition, exploration, evaluation, and develo... More
Freegold Ventures 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 Freegold Ventures' 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 Freegold Ventures Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.05 | |||
| Information Ratio | 0.0236 | |||
| Maximum Drawdown | 30.04 | |||
| Value At Risk | (5.88) | |||
| Potential Upside | 8.0 |
Freegold Ventures Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Freegold Ventures' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Freegold Ventures' standard deviation. In reality, there are many statistical measures that can use Freegold Ventures historical prices to predict the future Freegold Ventures' volatility.| Risk Adjusted Performance | 0.0475 | |||
| Jensen Alpha | 0.3029 | |||
| Total Risk Alpha | (0.59) | |||
| Sortino Ratio | 0.0292 | |||
| Treynor Ratio | (0.55) |
Freegold Ventures Backtested Returns
Freegold Ventures secures Sharpe Ratio (or Efficiency) of -0.0571, which denotes the company had a -0.0571% return per unit of risk over the last 3 months. Freegold Ventures Limited exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Freegold Ventures' Coefficient Of Variation of 1956.38, mean deviation of 3.57, and Downside Deviation of 4.05 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.45, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Freegold Ventures are expected to decrease at a much lower rate. During the bear market, Freegold Ventures is likely to outperform the market. At this point, Freegold Ventures has a negative expected return of -0.23%. Please make sure to confirm Freegold Ventures' downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to decide if Freegold Ventures performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.45 |
Average predictability
Freegold Ventures Limited has average predictability. Overlapping area represents the amount of predictability between Freegold Ventures time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Freegold Ventures price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Freegold Ventures price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Freegold Ventures lagged returns against current returns
Autocorrelation, which is Freegold Ventures 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 Freegold Ventures' stock expected returns. We can calculate the autocorrelation of Freegold Ventures returns to help us make a trade decision. For example, suppose you find that Freegold Ventures 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 |
Freegold Ventures 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 Freegold Ventures stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Freegold Ventures stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Freegold Ventures stock over time.
Current vs Lagged Prices |
| Timeline |
Freegold Ventures Lagged Returns
When evaluating Freegold Ventures' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Freegold Ventures stock have on its future price. Freegold Ventures 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, Freegold Ventures autocorrelation shows the relationship between Freegold Ventures stock current value and its past values and can show if there is a momentum factor associated with investing in Freegold Ventures Limited.
Regressed Prices |
| Timeline |
Pair Trading with Freegold Ventures
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 Freegold Ventures 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 Freegold Ventures will appreciate offsetting losses from the drop in the long position's value.Moving together with Freegold Stock
Moving against Freegold Stock
| 0.64 | JPM | JPMorgan Chase | PairCorr |
| 0.57 | BOFA | Bank of America | PairCorr |
| 0.53 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.41 | WMT | Walmart Inc CDR | PairCorr |
| 0.32 | AMZN | Amazon CDR | PairCorr |
The ability to find closely correlated positions to Freegold Ventures could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Freegold Ventures 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 Freegold Ventures - 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 Freegold Ventures Limited to buy it.
The correlation of Freegold Ventures 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 Freegold Ventures moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Freegold Ventures 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 Freegold Ventures 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 Freegold Stock
Freegold Ventures financial ratios help investors to determine whether Freegold 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 Freegold with respect to the benefits of owning Freegold Ventures security.