Nexgold Mining Corp Stock Market Value
| NEXG Stock | 0.66 0.01 1.54% |
| Symbol | NeXGold |
NeXGold Mining '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 NeXGold Mining'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 NeXGold Mining.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in NeXGold Mining on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding NeXGold Mining Corp or generate 0.0% return on investment in NeXGold Mining over 30 days. NeXGold Mining is related to or competes with Ocumetics Technology, Cogeco Communications, Wishpond Technologies, Calian Technologies, Totally Hip, Stampede Drilling, and Verizon Communications. NeXGold Mining is entity of Canada. It is traded as Stock on V exchange. More
NeXGold Mining 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 NeXGold Mining'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 NeXGold Mining Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 23.36 | |||
| Value At Risk | (5.06) | |||
| Potential Upside | 4.62 |
NeXGold Mining Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NeXGold Mining's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NeXGold Mining's standard deviation. In reality, there are many statistical measures that can use NeXGold Mining historical prices to predict the future NeXGold Mining's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.86) | |||
| Treynor Ratio | (0.33) |
NeXGold Mining Corp Backtested Returns
NeXGold Mining Corp has Sharpe Ratio of -0.0765, which conveys that the firm had a -0.0765% return per unit of standard deviation over the last 3 months. NeXGold Mining exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify NeXGold Mining's Risk Adjusted Performance of (0.04), mean deviation of 2.58, and Market Risk Adjusted Performance of (0.32) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.81, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, NeXGold Mining's returns are expected to increase less than the market. However, during the bear market, the loss of holding NeXGold Mining is expected to be smaller as well. At this point, NeXGold Mining Corp has a negative expected return of -0.3%. Please make sure to verify NeXGold Mining's accumulation distribution, rate of daily change, and the relationship between the kurtosis and daily balance of power , to decide if NeXGold Mining Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.72 |
Good predictability
NeXGold Mining Corp has good predictability. Overlapping area represents the amount of predictability between NeXGold Mining time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 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 NeXGold Mining Corp price movement. The serial correlation of 0.72 indicates that around 72.0% of current NeXGold Mining price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
NeXGold Mining Corp lagged returns against current returns
Autocorrelation, which is NeXGold Mining 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 NeXGold Mining's stock expected returns. We can calculate the autocorrelation of NeXGold Mining returns to help us make a trade decision. For example, suppose you find that NeXGold Mining 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 |
NeXGold Mining 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 NeXGold Mining stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NeXGold Mining stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NeXGold Mining stock over time.
Current vs Lagged Prices |
| Timeline |
NeXGold Mining Lagged Returns
When evaluating NeXGold Mining's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NeXGold Mining stock have on its future price. NeXGold Mining 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, NeXGold Mining autocorrelation shows the relationship between NeXGold Mining stock current value and its past values and can show if there is a momentum factor associated with investing in NeXGold Mining Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for NeXGold Stock Analysis
When running NeXGold Mining's price analysis, check to measure NeXGold Mining'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 NeXGold Mining is operating at the current time. Most of NeXGold Mining's value examination focuses on studying past and present price action to predict the probability of NeXGold Mining's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NeXGold Mining's price. Additionally, you may evaluate how the addition of NeXGold Mining to your portfolios can decrease your overall portfolio volatility.