Gold Road (Australia) Market Value
| GOR Stock | 1.86 0.05 2.62% |
| Symbol | Gold |
Gold Road '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 Gold Road'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 Gold Road.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Gold Road on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Gold Road Resources or generate 0.0% return on investment in Gold Road over 30 days. Gold Road is related to or competes with Northern Star, Evolution Mining, Bluescope Steel, Sandfire Resources, Aneka Tambang, and De Grey. Gold Road is entity of Australia. It is traded as Stock on AU exchange. More
Gold Road 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 Gold Road'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 Gold Road Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.57 | |||
| Information Ratio | 0.0021 | |||
| Maximum Drawdown | 12.05 | |||
| Value At Risk | (2.84) | |||
| Potential Upside | 3.66 |
Gold Road Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Gold Road's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Gold Road's standard deviation. In reality, there are many statistical measures that can use Gold Road historical prices to predict the future Gold Road's volatility.| Risk Adjusted Performance | 0.0535 | |||
| Jensen Alpha | 0.1449 | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.0017 | |||
| Treynor Ratio | (0.67) |
Gold Road Resources Backtested Returns
Gold Road appears to be risky, given 3 months investment horizon. Gold Road Resources holds Efficiency (Sharpe) Ratio of 0.0973, which attests that the entity had a 0.0973% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Gold Road Resources, which you can use to evaluate the volatility of the firm. Please utilize Gold Road's Risk Adjusted Performance of 0.0535, market risk adjusted performance of (0.66), and Downside Deviation of 2.57 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Gold Road holds a performance score of 7. The company retains a Market Volatility (i.e., Beta) of -0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Gold Road are expected to decrease at a much lower rate. During the bear market, Gold Road is likely to outperform the market. Please check Gold Road's jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to make a quick decision on whether Gold Road's current trending patterns will revert.
Auto-correlation | -0.65 |
Very good reverse predictability
Gold Road Resources has very good reverse predictability. Overlapping area represents the amount of predictability between Gold Road 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 Gold Road Resources price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current Gold Road price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Gold Road Resources lagged returns against current returns
Autocorrelation, which is Gold Road 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 Gold Road's stock expected returns. We can calculate the autocorrelation of Gold Road returns to help us make a trade decision. For example, suppose you find that Gold Road 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 |
Gold Road 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 Gold Road stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Gold Road stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Gold Road stock over time.
Current vs Lagged Prices |
| Timeline |
Gold Road Lagged Returns
When evaluating Gold Road's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Gold Road stock have on its future price. Gold Road 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, Gold Road autocorrelation shows the relationship between Gold Road stock current value and its past values and can show if there is a momentum factor associated with investing in Gold Road Resources.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Gold Stock Analysis
When running Gold Road's price analysis, check to measure Gold Road'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 Gold Road is operating at the current time. Most of Gold Road's value examination focuses on studying past and present price action to predict the probability of Gold Road's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Gold Road's price. Additionally, you may evaluate how the addition of Gold Road to your portfolios can decrease your overall portfolio volatility.