Nickel Creek Platinum Stock Market Value
| NCP Stock | CAD 0.84 0.02 2.33% |
| Symbol | Nickel |
Nickel Creek Platinum Price To Book Ratio
Nickel Creek '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 Nickel Creek'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 Nickel Creek.
| 02/29/2024 |
| 11/25/2024 |
If you would invest 0.00 in Nickel Creek on February 29, 2024 and sell it all today you would earn a total of 0.00 from holding Nickel Creek Platinum or generate 0.0% return on investment in Nickel Creek over 270 days. Nickel Creek Platinum Corp. engages in the exploration and development of nickel and platinum group metals in North Amer... More
Nickel Creek 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 Nickel Creek'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 Nickel Creek Platinum upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 26.82 | |||
| Value At Risk | (10.48) | |||
| Potential Upside | 6.49 |
Nickel Creek Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Nickel Creek's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Nickel Creek's standard deviation. In reality, there are many statistical measures that can use Nickel Creek historical prices to predict the future Nickel Creek's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.92) | |||
| Total Risk Alpha | (1.84) | |||
| Treynor Ratio | 4.05 |
Nickel Creek Platinum Backtested Returns
Nickel Creek Platinum has Sharpe Ratio of -0.0584, which conveys that the firm had a -0.0584% return per unit of risk over the last 3 months. Nickel Creek exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Nickel Creek's Risk Adjusted Performance of (0.12), mean deviation of 3.41, and Standard Deviation of 5.69 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.23, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Nickel Creek are expected to decrease at a much lower rate. During the bear market, Nickel Creek is likely to outperform the market. At this point, Nickel Creek Platinum has a negative expected return of -0.27%. Please make sure to verify Nickel Creek's jensen alpha and the relationship between the potential upside and period momentum indicator , to decide if Nickel Creek Platinum performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.07 |
Virtually no predictability
Nickel Creek Platinum has virtually no predictability. Overlapping area represents the amount of predictability between Nickel Creek time series from 29th of February 2024 to 13th of July 2024 and 13th of July 2024 to 25th 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 Nickel Creek Platinum price movement. The serial correlation of 0.07 indicates that barely 7.0% of current Nickel Creek price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.07 | |
| Spearman Rank Test | -0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 0.13 |
Nickel Creek Platinum lagged returns against current returns
Autocorrelation, which is Nickel Creek 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 Nickel Creek's stock expected returns. We can calculate the autocorrelation of Nickel Creek returns to help us make a trade decision. For example, suppose you find that Nickel Creek 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 |
Nickel Creek 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 Nickel Creek stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Nickel Creek stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Nickel Creek stock over time.
Current vs Lagged Prices |
| Timeline |
Nickel Creek Lagged Returns
When evaluating Nickel Creek's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Nickel Creek stock have on its future price. Nickel Creek 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, Nickel Creek autocorrelation shows the relationship between Nickel Creek stock current value and its past values and can show if there is a momentum factor associated with investing in Nickel Creek Platinum.
Regressed Prices |
| Timeline |
Pair Trading with Nickel Creek
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 Nickel Creek 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 Nickel Creek will appreciate offsetting losses from the drop in the long position's value.Moving against Nickel Stock
| 0.77 | RY | Royal Bank | PairCorr |
| 0.43 | AG | First Majestic Silver | PairCorr |
| 0.42 | RY-PJ | Royal Bank | PairCorr |
| 0.41 | ORE | Orezone Gold Corp | PairCorr |
| 0.33 | BOFA | Bank of America | PairCorr |
The ability to find closely correlated positions to Nickel Creek could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nickel Creek 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 Nickel Creek - 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 Nickel Creek Platinum to buy it.
The correlation of Nickel Creek 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 Nickel Creek moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nickel Creek Platinum 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 Nickel Creek 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 Nickel Stock
Nickel Creek financial ratios help investors to determine whether Nickel 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 Nickel with respect to the benefits of owning Nickel Creek security.