New Destiny Mining Stock Market Value
| NED Stock | CAD 0.04 0.01 20.00% |
| Symbol | New |
New Destiny '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 New Destiny'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 New Destiny.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in New Destiny on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding New Destiny Mining or generate 0.0% return on investment in New Destiny over 30 days. New Destiny is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. New Destiny Mining Corp., a junior mineral exploration company, engages in the acquisition, exploration, and evaluation ... More
New Destiny 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 New Destiny'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 New Destiny Mining upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 71.43 | |||
| Value At Risk | (14.29) |
New Destiny Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Destiny's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Destiny's standard deviation. In reality, there are many statistical measures that can use New Destiny historical prices to predict the future New Destiny's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.64) | |||
| Total Risk Alpha | (1.83) | |||
| Treynor Ratio | (0.58) |
New Destiny Mining Backtested Returns
New Destiny Mining has Sharpe Ratio of -0.15, which conveys that the firm had a -0.15% return per unit of risk over the last 3 months. New Destiny exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify New Destiny's Risk Adjusted Performance of (0.04), mean deviation of 3.17, and Standard Deviation of 8.26 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.91, which conveys possible diversification benefits within a given portfolio. New Destiny returns are very sensitive to returns on the market. As the market goes up or down, New Destiny is expected to follow. At this point, New Destiny Mining has a negative expected return of -0.89%. Please make sure to verify New Destiny's treynor ratio, rate of daily change, as well as the relationship between the Rate Of Daily Change and period momentum indicator , to decide if New Destiny Mining performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.69 |
Good predictability
New Destiny Mining has good predictability. Overlapping area represents the amount of predictability between New Destiny time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 New Destiny Mining price movement. The serial correlation of 0.69 indicates that around 69.0% of current New Destiny price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
New Destiny Mining lagged returns against current returns
Autocorrelation, which is New Destiny 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 New Destiny's stock expected returns. We can calculate the autocorrelation of New Destiny returns to help us make a trade decision. For example, suppose you find that New Destiny 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 |
New Destiny 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 New Destiny stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Destiny stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Destiny stock over time.
Current vs Lagged Prices |
| Timeline |
New Destiny Lagged Returns
When evaluating New Destiny's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Destiny stock have on its future price. New Destiny 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, New Destiny autocorrelation shows the relationship between New Destiny stock current value and its past values and can show if there is a momentum factor associated with investing in New Destiny Mining.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for New Stock Analysis
When running New Destiny's price analysis, check to measure New Destiny's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy New Destiny is operating at the current time. Most of New Destiny's value examination focuses on studying past and present price action to predict the probability of New Destiny's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Destiny's price. Additionally, you may evaluate how the addition of New Destiny to your portfolios can decrease your overall portfolio volatility.