Kinross Gold Corp Stock Market Value
| K Stock | CAD 13.70 0.57 3.99% |
| Symbol | Kinross |
Kinross 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 Kinross 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 Kinross Gold.
| 01/31/2024 |
| 11/26/2024 |
If you would invest 0.00 in Kinross Gold on January 31, 2024 and sell it all today you would earn a total of 0.00 from holding Kinross Gold Corp or generate 0.0% return on investment in Kinross Gold over 300 days. Kinross Gold is related to or competes with Barrick Gold, Eldorado Gold, IAMGold, and Agnico Eagle. Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of go... More
Kinross 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 Kinross 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 Kinross Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.88 | |||
| Information Ratio | 0.0517 | |||
| Maximum Drawdown | 17.4 | |||
| Value At Risk | (3.75) | |||
| Potential Upside | 4.79 |
Kinross Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kinross Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kinross Gold's standard deviation. In reality, there are many statistical measures that can use Kinross Gold historical prices to predict the future Kinross Gold's volatility.| Risk Adjusted Performance | 0.0821 | |||
| Jensen Alpha | 0.2789 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.05 | |||
| Treynor Ratio | (1.89) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Kinross Gold's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Kinross Gold Corp Backtested Returns
Kinross Gold appears to be not too volatile, given 3 months investment horizon. Kinross Gold Corp has Sharpe Ratio of 0.0979, which conveys that the firm had a 0.0979% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Kinross Gold, which you can use to evaluate the volatility of the firm. Please exercise Kinross Gold's Downside Deviation of 2.88, mean deviation of 1.93, and Risk Adjusted Performance of 0.0821 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Kinross Gold holds a performance score of 7. The company secures a Beta (Market Risk) of -0.14, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kinross Gold are expected to decrease at a much lower rate. During the bear market, Kinross Gold is likely to outperform the market. Please check Kinross Gold's expected short fall, and the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether Kinross Gold's current price movements will revert.
Auto-correlation | 0.83 |
Very good predictability
Kinross Gold Corp has very good predictability. Overlapping area represents the amount of predictability between Kinross Gold time series from 31st of January 2024 to 29th of June 2024 and 29th of June 2024 to 26th 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 Kinross Gold Corp price movement. The serial correlation of 0.83 indicates that around 83.0% of current Kinross Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.96 |
Kinross Gold Corp lagged returns against current returns
Autocorrelation, which is Kinross 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 Kinross Gold's stock expected returns. We can calculate the autocorrelation of Kinross Gold returns to help us make a trade decision. For example, suppose you find that Kinross 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 |
Kinross 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 Kinross Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kinross Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kinross Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Kinross Gold Lagged Returns
When evaluating Kinross Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kinross Gold stock have on its future price. Kinross 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, Kinross Gold autocorrelation shows the relationship between Kinross Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Kinross Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with Kinross Gold
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 Kinross Gold 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 Kinross Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Kinross Stock
| 0.87 | AG | First Majestic Silver | PairCorr |
| 0.79 | IE | Ivanhoe Energy | PairCorr |
| 0.78 | FDY | Faraday Copper Corp | PairCorr |
Moving against Kinross Stock
The ability to find closely correlated positions to Kinross Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kinross Gold 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 Kinross Gold - 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 Kinross Gold Corp to buy it.
The correlation of Kinross Gold 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 Kinross Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kinross Gold Corp 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 Kinross Gold 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 Kinross Stock
Kinross Gold financial ratios help investors to determine whether Kinross 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 Kinross with respect to the benefits of owning Kinross Gold security.