Newmont Goldcorp Corp Stock Market Value
| NGT Stock | CAD 57.41 1.50 2.55% |
| Symbol | Newmont |
Newmont Goldcorp Corp Price To Book Ratio
Newmont Goldcorp '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 Newmont Goldcorp'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 Newmont Goldcorp.
| 06/05/2024 |
| 12/02/2024 |
If you would invest 0.00 in Newmont Goldcorp on June 5, 2024 and sell it all today you would earn a total of 0.00 from holding Newmont Goldcorp Corp or generate 0.0% return on investment in Newmont Goldcorp over 180 days. Newmont Goldcorp is related to or competes with Wheaton Precious, Agnico Eagle, Pan American, Franco Nevada, and Equinox Gold. Newmont Goldcorp Corporation, together with its subsidiaries, operates in the mining industry More
Newmont Goldcorp 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 Newmont Goldcorp'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 Newmont Goldcorp Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 19.1 | |||
| Value At Risk | (2.72) | |||
| Potential Upside | 2.66 |
Newmont Goldcorp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Newmont Goldcorp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Newmont Goldcorp's standard deviation. In reality, there are many statistical measures that can use Newmont Goldcorp historical prices to predict the future Newmont Goldcorp's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.64) | |||
| Treynor Ratio | (0.38) |
Newmont Goldcorp Corp Backtested Returns
Newmont Goldcorp Corp 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. Newmont Goldcorp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Newmont Goldcorp's Risk Adjusted Performance of (0.06), standard deviation of 2.44, and Mean Deviation of 1.42 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.61, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Newmont Goldcorp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Newmont Goldcorp is expected to be smaller as well. At this point, Newmont Goldcorp Corp has a negative expected return of -0.29%. Please make sure to verify Newmont Goldcorp's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and day typical price , to decide if Newmont Goldcorp Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.62 |
Very good reverse predictability
Newmont Goldcorp Corp has very good reverse predictability. Overlapping area represents the amount of predictability between Newmont Goldcorp time series from 5th of June 2024 to 3rd of September 2024 and 3rd of September 2024 to 2nd 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 Newmont Goldcorp Corp price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Newmont Goldcorp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 44.41 |
Newmont Goldcorp Corp lagged returns against current returns
Autocorrelation, which is Newmont Goldcorp 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 Newmont Goldcorp's stock expected returns. We can calculate the autocorrelation of Newmont Goldcorp returns to help us make a trade decision. For example, suppose you find that Newmont Goldcorp 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 |
Newmont Goldcorp 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 Newmont Goldcorp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Newmont Goldcorp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Newmont Goldcorp stock over time.
Current vs Lagged Prices |
| Timeline |
Newmont Goldcorp Lagged Returns
When evaluating Newmont Goldcorp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Newmont Goldcorp stock have on its future price. Newmont Goldcorp 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, Newmont Goldcorp autocorrelation shows the relationship between Newmont Goldcorp stock current value and its past values and can show if there is a momentum factor associated with investing in Newmont Goldcorp Corp.
Regressed Prices |
| Timeline |
Pair Trading with Newmont Goldcorp
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 Newmont Goldcorp 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 Newmont Goldcorp will appreciate offsetting losses from the drop in the long position's value.Moving together with Newmont Stock
Moving against Newmont Stock
| 0.84 | TSLA | Tesla Inc CDR | PairCorr |
| 0.75 | JPM | JPMorgan Chase | PairCorr |
| 0.69 | AMZN | Amazon CDR | PairCorr |
| 0.61 | GOOG | Alphabet CDR | PairCorr |
| 0.46 | NVDA | NVIDIA CDR | PairCorr |
The ability to find closely correlated positions to Newmont Goldcorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Newmont Goldcorp 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 Newmont Goldcorp - 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 Newmont Goldcorp Corp to buy it.
The correlation of Newmont Goldcorp 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 Newmont Goldcorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Newmont Goldcorp Corp 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 Newmont Goldcorp 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 Newmont Goldcorp Correlation, Newmont Goldcorp Volatility and Newmont Goldcorp Alpha and Beta module to complement your research on Newmont Goldcorp. You can also try the Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
Newmont Goldcorp 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.