Western Magnesium Stock Market Value
Western Magnesium's market value is the price at which a share of Western Magnesium trades on a public exchange. It measures the collective expectations of Western Magnesium investors about its performance. With this module, you can estimate the performance of a buy and hold strategy of Western Magnesium and determine expected loss or profit from investing in Western Magnesium over a given investment horizon. Check out Western Magnesium Correlation, Western Magnesium Volatility and Western Magnesium Alpha and Beta module to complement your research on Western Magnesium.
| Symbol | Western |
Western Magnesium '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 Western Magnesium's pink sheet 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 Western Magnesium.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in Western Magnesium on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding Western Magnesium or generate 0.0% return on investment in Western Magnesium over 720 days. Western Magnesium is related to or competes with East Africa, and Forsys Metals. Western Magnesium Corporation engages in the exploration and development of mineral properties in the United States More
Western Magnesium 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 Western Magnesium's pink sheet 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 Western Magnesium upside and downside potential and time the market with a certain degree of confidence.
Western Magnesium Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Western Magnesium's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Western Magnesium's standard deviation. In reality, there are many statistical measures that can use Western Magnesium historical prices to predict the future Western Magnesium's volatility.Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Western Magnesium'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.
Western Magnesium Backtested Returns
Western Magnesium shows Sharpe Ratio of -0.13, which attests that the company had a -0.13% return per unit of risk over the last 3 months. Western Magnesium exposes zero different technical indicators, which can help you to evaluate volatility embedded in its price movement. The firm maintains a market beta of 0.0, which attests to not very significant fluctuations relative to the market. the returns on MARKET and Western Magnesium are completely uncorrelated.
Auto-correlation | 0.31 |
Below average predictability
Western Magnesium has below average predictability. Overlapping area represents the amount of predictability between Western Magnesium time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 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 Western Magnesium price movement. The serial correlation of 0.31 indicates that nearly 31.0% of current Western Magnesium price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.31 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Western Magnesium lagged returns against current returns
Autocorrelation, which is Western Magnesium pink sheet'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 Western Magnesium's pink sheet expected returns. We can calculate the autocorrelation of Western Magnesium returns to help us make a trade decision. For example, suppose you find that Western Magnesium has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Western Magnesium 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 Western Magnesium pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Western Magnesium pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Western Magnesium pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Western Magnesium Lagged Returns
When evaluating Western Magnesium's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Western Magnesium pink sheet have on its future price. Western Magnesium 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, Western Magnesium autocorrelation shows the relationship between Western Magnesium pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Western Magnesium.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in Western Pink Sheet
Western Magnesium financial ratios help investors to determine whether Western Pink Sheet 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 Western with respect to the benefits of owning Western Magnesium security.