Independence Gold Corp Stock Market Value
| IGO Stock | CAD 0.22 0.01 4.76% |
| Symbol | Independence |
Independence Gold Corp Price To Book Ratio
Independence 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 Independence 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 Independence Gold.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Independence Gold on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Independence Gold Corp or generate 0.0% return on investment in Independence Gold over 30 days. Independence Gold Corp. engages in the acquisition, exploration, and evaluation of precious metal properties in North Am... More
Independence 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 Independence 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 Independence Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 6.33 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 22.5 | |||
| Value At Risk | (8.70) | |||
| Potential Upside | 9.52 |
Independence Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Independence Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Independence Gold's standard deviation. In reality, there are many statistical measures that can use Independence Gold historical prices to predict the future Independence Gold's volatility.| Risk Adjusted Performance | 0.0187 | |||
| Jensen Alpha | 0.1368 | |||
| Total Risk Alpha | (0.74) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.09) |
Independence Gold Corp Backtested Returns
At this stage we consider Independence Stock to be out of control. Independence Gold Corp holds Efficiency (Sharpe) Ratio of 0.0257, which attests that the entity had a 0.0257% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Independence Gold Corp, which you can use to evaluate the volatility of the firm. Please check out Independence Gold's Downside Deviation of 6.33, risk adjusted performance of 0.0187, and Market Risk Adjusted Performance of (0.08) to validate if the risk estimate we provide is consistent with the expected return of 0.14%. Independence Gold has a performance score of 2 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.66, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Independence Gold are expected to decrease at a much lower rate. During the bear market, Independence Gold is likely to outperform the market. Independence Gold Corp right now retains a risk of 5.26%. Please check out Independence Gold information ratio, downside variance, day median price, as well as the relationship between the treynor ratio and kurtosis , to decide if Independence Gold will be following its current trending patterns.
Auto-correlation | -0.45 |
Modest reverse predictability
Independence Gold Corp has modest reverse predictability. Overlapping area represents the amount of predictability between Independence Gold time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 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 Independence Gold Corp price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Independence Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Independence Gold Corp lagged returns against current returns
Autocorrelation, which is Independence 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 Independence Gold's stock expected returns. We can calculate the autocorrelation of Independence Gold returns to help us make a trade decision. For example, suppose you find that Independence 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 |
Independence 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 Independence Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Independence Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Independence Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Independence Gold Lagged Returns
When evaluating Independence Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Independence Gold stock have on its future price. Independence 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, Independence Gold autocorrelation shows the relationship between Independence Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Independence Gold Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Independence Stock Analysis
When running Independence Gold's price analysis, check to measure Independence Gold'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 Independence Gold is operating at the current time. Most of Independence Gold's value examination focuses on studying past and present price action to predict the probability of Independence Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Independence Gold's price. Additionally, you may evaluate how the addition of Independence Gold to your portfolios can decrease your overall portfolio volatility.