Northern Dynasty Minerals Stock Market Value
| NDM Stock | CAD 0.63 0.02 3.08% |
| Symbol | Northern |
Northern Dynasty Minerals Price To Book Ratio
Northern Dynasty '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 Northern Dynasty'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 Northern Dynasty.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in Northern Dynasty on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding Northern Dynasty Minerals or generate 0.0% return on investment in Northern Dynasty over 720 days. Northern Dynasty is related to or competes with Taseko Mines, New Gold, Western Copper, and NovaGold Resources. Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States More
Northern Dynasty 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 Northern Dynasty'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 Northern Dynasty Minerals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.21 | |||
| Information Ratio | 0.0808 | |||
| Maximum Drawdown | 31.5 | |||
| Value At Risk | (6.15) | |||
| Potential Upside | 8.7 |
Northern Dynasty Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Northern Dynasty's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Northern Dynasty's standard deviation. In reality, there are many statistical measures that can use Northern Dynasty historical prices to predict the future Northern Dynasty's volatility.| Risk Adjusted Performance | 0.0927 | |||
| Jensen Alpha | 0.3867 | |||
| Total Risk Alpha | (0.27) | |||
| Sortino Ratio | 0.0897 | |||
| Treynor Ratio | 0.543 |
Northern Dynasty Minerals Backtested Returns
Northern Dynasty appears to be abnormally volatile, given 3 months investment horizon. Northern Dynasty Minerals has Sharpe Ratio of 0.12, which conveys that the firm had a 0.12% return per unit of risk over the last 3 months. By analyzing Northern Dynasty's technical indicators, you can evaluate if the expected return of 0.56% is justified by implied risk. Please exercise Northern Dynasty's Downside Deviation of 4.21, risk adjusted performance of 0.0927, and Mean Deviation of 3.16 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Northern Dynasty holds a performance score of 9. The company secures a Beta (Market Risk) of 0.93, which conveys possible diversification benefits within a given portfolio. Northern Dynasty returns are very sensitive to returns on the market. As the market goes up or down, Northern Dynasty is expected to follow. Please check Northern Dynasty's value at risk and the relationship between the expected short fall and market facilitation index , to make a quick decision on whether Northern Dynasty's current price movements will revert.
Auto-correlation | 0.75 |
Good predictability
Northern Dynasty Minerals has good predictability. Overlapping area represents the amount of predictability between Northern Dynasty 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 Northern Dynasty Minerals price movement. The serial correlation of 0.75 indicates that around 75.0% of current Northern Dynasty price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Northern Dynasty Minerals lagged returns against current returns
Autocorrelation, which is Northern Dynasty 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 Northern Dynasty's stock expected returns. We can calculate the autocorrelation of Northern Dynasty returns to help us make a trade decision. For example, suppose you find that Northern Dynasty 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 |
Northern Dynasty 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 Northern Dynasty stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Northern Dynasty stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Northern Dynasty stock over time.
Current vs Lagged Prices |
| Timeline |
Northern Dynasty Lagged Returns
When evaluating Northern Dynasty's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Northern Dynasty stock have on its future price. Northern Dynasty 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, Northern Dynasty autocorrelation shows the relationship between Northern Dynasty stock current value and its past values and can show if there is a momentum factor associated with investing in Northern Dynasty Minerals.
Regressed Prices |
| Timeline |
Pair Trading with Northern Dynasty
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 Northern Dynasty 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 Northern Dynasty will appreciate offsetting losses from the drop in the long position's value.Moving together with Northern Stock
Moving against Northern Stock
| 0.58 | INFM | Infinico Metals Corp | PairCorr |
| 0.46 | ORE | Orezone Gold Corp | PairCorr |
| 0.34 | VZ | Verizon Communications | PairCorr |
The ability to find closely correlated positions to Northern Dynasty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Dynasty 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 Northern Dynasty - 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 Northern Dynasty Minerals to buy it.
The correlation of Northern Dynasty 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 Northern Dynasty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Dynasty Minerals 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 Northern Dynasty 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 Northern Dynasty Correlation, Northern Dynasty Volatility and Northern Dynasty Alpha and Beta module to complement your research on Northern Dynasty. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Northern Dynasty 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.