Mega Uranium Stock Market Value
| MGA Stock | CAD 0.38 0.01 2.70% |
| Symbol | Mega |
Mega Uranium Price To Book Ratio
Mega Uranium '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 Mega Uranium'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 Mega Uranium.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Mega Uranium on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Mega Uranium or generate 0.0% return on investment in Mega Uranium over 720 days. Mega Uranium is related to or competes with Laramide Resources, Ur Energy, Pinetree Capital, Denison Mines, and Purepoint Uranium. Mega Uranium Ltd. engages in the mineral exploration and development of uranium properties primarily in Australia and Ca... More
Mega Uranium 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 Mega Uranium'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 Mega Uranium upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.91 | |||
| Information Ratio | 0.0943 | |||
| Maximum Drawdown | 14.07 | |||
| Value At Risk | (5.13) | |||
| Potential Upside | 6.67 |
Mega Uranium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Mega Uranium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Mega Uranium's standard deviation. In reality, there are many statistical measures that can use Mega Uranium historical prices to predict the future Mega Uranium's volatility.| Risk Adjusted Performance | 0.1096 | |||
| Jensen Alpha | 0.4361 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.0855 | |||
| Treynor Ratio | 2.32 |
Mega Uranium Backtested Returns
Mega Uranium appears to be out of control, given 3 months investment horizon. Mega Uranium has Sharpe Ratio of 0.17, which conveys that the firm had a 0.17% return per unit of risk over the last 3 months. By analyzing Mega Uranium's technical indicators, you can evaluate if the expected return of 0.6% is justified by implied risk. Please exercise Mega Uranium's Risk Adjusted Performance of 0.1096, downside deviation of 3.91, and Mean Deviation of 2.81 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Mega Uranium holds a performance score of 13. The company secures a Beta (Market Risk) of 0.2, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Mega Uranium's returns are expected to increase less than the market. However, during the bear market, the loss of holding Mega Uranium is expected to be smaller as well. Please check Mega Uranium's standard deviation, value at risk, kurtosis, as well as the relationship between the sortino ratio and semi variance , to make a quick decision on whether Mega Uranium's current price movements will revert.
Auto-correlation | -0.34 |
Poor reverse predictability
Mega Uranium has poor reverse predictability. Overlapping area represents the amount of predictability between Mega Uranium time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 to 1st of December 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 Mega Uranium price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Mega Uranium price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Mega Uranium lagged returns against current returns
Autocorrelation, which is Mega Uranium 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 Mega Uranium's stock expected returns. We can calculate the autocorrelation of Mega Uranium returns to help us make a trade decision. For example, suppose you find that Mega Uranium 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 |
Mega Uranium 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 Mega Uranium stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Mega Uranium stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Mega Uranium stock over time.
Current vs Lagged Prices |
| Timeline |
Mega Uranium Lagged Returns
When evaluating Mega Uranium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Mega Uranium stock have on its future price. Mega Uranium 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, Mega Uranium autocorrelation shows the relationship between Mega Uranium stock current value and its past values and can show if there is a momentum factor associated with investing in Mega Uranium.
Regressed Prices |
| Timeline |
Pair Trading with Mega Uranium
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 Mega Uranium 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 Mega Uranium will appreciate offsetting losses from the drop in the long position's value.Moving together with Mega Stock
| 0.88 | ENB-PFV | Enbridge Pref 5 | PairCorr |
| 0.73 | ENB-PFU | Enbridge Pref L | PairCorr |
| 0.85 | ENS | E Split Corp | PairCorr |
| 0.8 | ENS-PA | E Split Corp | PairCorr |
Moving against Mega Stock
The ability to find closely correlated positions to Mega Uranium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mega Uranium 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 Mega Uranium - 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 Mega Uranium to buy it.
The correlation of Mega Uranium 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 Mega Uranium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Mega Uranium 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 Mega Uranium 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 Mega Stock
Mega Uranium financial ratios help investors to determine whether Mega 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 Mega with respect to the benefits of owning Mega Uranium security.