International Tower Hill Stock Market Value
| ITH Stock | CAD 0.64 0.01 1.54% |
| Symbol | International |
International Tower Hill Price To Book Ratio
International Tower '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 International Tower'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 International Tower.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in International Tower on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding International Tower Hill or generate 0.0% return on investment in International Tower over 30 days. International Tower is related to or competes with Xtra Gold, Loncor Resources, and TRX Gold. International Tower Hill Mines Ltd., a mineral exploration company, acquires and explores for mineral properties Canada ... More
International Tower 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 International Tower'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 International Tower Hill upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 28.06 | |||
| Value At Risk | (8.82) | |||
| Potential Upside | 7.79 |
International Tower Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for International Tower's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as International Tower's standard deviation. In reality, there are many statistical measures that can use International Tower historical prices to predict the future International Tower's volatility.| Risk Adjusted Performance | 8.0E-4 | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.91) | |||
| Treynor Ratio | (0.05) |
International Tower Hill Backtested Returns
As of now, International Stock is abnormally volatile. International Tower Hill holds Efficiency (Sharpe) Ratio of 0.0113, which attests that the entity had a 0.0113% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for International Tower Hill, which you can use to evaluate the volatility of the firm. Please check out International Tower's Risk Adjusted Performance of 8.0E-4, standard deviation of 5.08, and Market Risk Adjusted Performance of (0.04) to validate if the risk estimate we provide is consistent with the expected return of 0.0584%. The company retains a Market Volatility (i.e., Beta) of 1.12, which attests to a somewhat significant risk relative to the market. International Tower returns are very sensitive to returns on the market. As the market goes up or down, International Tower is expected to follow. International Tower Hill right now retains a risk of 5.16%. Please check out International Tower treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if International Tower will be following its current trending patterns.
Auto-correlation | -0.84 |
Excellent reverse predictability
International Tower Hill has excellent reverse predictability. Overlapping area represents the amount of predictability between International Tower 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 International Tower Hill price movement. The serial correlation of -0.84 indicates that around 84.0% of current International Tower price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.84 | |
| Spearman Rank Test | -0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
International Tower Hill lagged returns against current returns
Autocorrelation, which is International Tower 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 International Tower's stock expected returns. We can calculate the autocorrelation of International Tower returns to help us make a trade decision. For example, suppose you find that International Tower 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 |
International Tower 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 International Tower stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if International Tower stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in International Tower stock over time.
Current vs Lagged Prices |
| Timeline |
International Tower Lagged Returns
When evaluating International Tower's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of International Tower stock have on its future price. International Tower 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, International Tower autocorrelation shows the relationship between International Tower stock current value and its past values and can show if there is a momentum factor associated with investing in International Tower Hill.
Regressed Prices |
| Timeline |
Pair Trading with International Tower
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 International Tower 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 International Tower will appreciate offsetting losses from the drop in the long position's value.Moving together with International Stock
Moving against International Stock
The ability to find closely correlated positions to International Tower could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace International Tower 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 International Tower - 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 International Tower Hill to buy it.
The correlation of International Tower 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 International Tower moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if International Tower Hill 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 International Tower 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 International Tower Correlation, International Tower Volatility and International Tower Alpha and Beta module to complement your research on International Tower. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
International Tower 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.