Geodrill Limited Stock Market Value
| GEO Stock | CAD 2.84 0.05 1.73% |
| Symbol | Geodrill |
Geodrill Limited Price To Book Ratio
Geodrill '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 Geodrill'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 Geodrill.
| 12/09/2022 |
| 11/28/2024 |
If you would invest 0.00 in Geodrill on December 9, 2022 and sell it all today you would earn a total of 0.00 from holding Geodrill Limited or generate 0.0% return on investment in Geodrill over 720 days. Geodrill is related to or competes with Dynacor Gold, Foraco International, Hammond Power, and Firan Technology. Geodrill Limited, together with its subsidiaries, provides exploration and development drilling services to various mini... More
Geodrill 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 Geodrill'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 Geodrill Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.35 | |||
| Information Ratio | 0.0217 | |||
| Maximum Drawdown | 9.08 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 3.56 |
Geodrill Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Geodrill's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Geodrill's standard deviation. In reality, there are many statistical measures that can use Geodrill historical prices to predict the future Geodrill's volatility.| Risk Adjusted Performance | 0.0685 | |||
| Jensen Alpha | 0.1599 | |||
| Total Risk Alpha | (0.18) | |||
| Sortino Ratio | 0.0203 | |||
| Treynor Ratio | 2.45 |
Geodrill Limited Backtested Returns
As of now, Geodrill Stock is moderately volatile. Geodrill Limited holds Efficiency (Sharpe) Ratio of 0.0446, which attests that the entity had a 0.0446% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Geodrill Limited, which you can use to evaluate the volatility of the firm. Please check out Geodrill's Downside Deviation of 2.35, risk adjusted performance of 0.0685, and Market Risk Adjusted Performance of 2.46 to validate if the risk estimate we provide is consistent with the expected return of 0.1%. Geodrill has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0686, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Geodrill's returns are expected to increase less than the market. However, during the bear market, the loss of holding Geodrill is expected to be smaller as well. Geodrill Limited right now retains a risk of 2.25%. Please check out Geodrill treynor ratio, kurtosis, relative strength index, as well as the relationship between the downside variance and day median price , to decide if Geodrill will be following its current trending patterns.
Auto-correlation | -0.68 |
Very good reverse predictability
Geodrill Limited has very good reverse predictability. Overlapping area represents the amount of predictability between Geodrill 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 Geodrill Limited price movement. The serial correlation of -0.68 indicates that around 68.0% of current Geodrill price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.68 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.15 |
Geodrill Limited lagged returns against current returns
Autocorrelation, which is Geodrill 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 Geodrill's stock expected returns. We can calculate the autocorrelation of Geodrill returns to help us make a trade decision. For example, suppose you find that Geodrill 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 |
Geodrill 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 Geodrill stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Geodrill stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Geodrill stock over time.
Current vs Lagged Prices |
| Timeline |
Geodrill Lagged Returns
When evaluating Geodrill's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Geodrill stock have on its future price. Geodrill 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, Geodrill autocorrelation shows the relationship between Geodrill stock current value and its past values and can show if there is a momentum factor associated with investing in Geodrill Limited.
Regressed Prices |
| Timeline |
Pair Trading with Geodrill
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 Geodrill 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 Geodrill will appreciate offsetting losses from the drop in the long position's value.Moving together with Geodrill Stock
Moving against Geodrill Stock
The ability to find closely correlated positions to Geodrill could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Geodrill 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 Geodrill - 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 Geodrill Limited to buy it.
The correlation of Geodrill 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 Geodrill moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Geodrill Limited 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 Geodrill 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 Geodrill Stock
Geodrill financial ratios help investors to determine whether Geodrill 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 Geodrill with respect to the benefits of owning Geodrill security.