Canex Metals Stock Market Value
| NOMNF Stock | USD 0.02 0.01 40.82% |
| Symbol | CANEX |
CANEX Metals '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 CANEX Metals' pink sheet 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 CANEX Metals.
| 12/29/2022 |
| 12/18/2024 |
If you would invest 0.00 in CANEX Metals on December 29, 2022 and sell it all today you would earn a total of 0.00 from holding CANEX Metals or generate 0.0% return on investment in CANEX Metals over 720 days. CANEX Metals is related to or competes with Radisson Mining, Asante Gold, Bluestone Resources, Heliostar Metals, Independence Gold, Snowline Gold, and Cabral Gold. CANEX Metals Inc. engages in the acquisition, exploration, and development of mineral properties More
CANEX Metals 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 CANEX Metals' pink sheet 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 CANEX Metals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0469 | |||
| Maximum Drawdown | 111.18 | |||
| Value At Risk | (29.15) | |||
| Potential Upside | 41.14 |
CANEX Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CANEX Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CANEX Metals' standard deviation. In reality, there are many statistical measures that can use CANEX Metals historical prices to predict the future CANEX Metals' volatility.| Risk Adjusted Performance | 0.0463 | |||
| Jensen Alpha | 0.7841 | |||
| Total Risk Alpha | (0.54) | |||
| Treynor Ratio | 0.4282 |
CANEX Metals Backtested Returns
CANEX Metals appears to be out of control, given 3 months investment horizon. CANEX Metals secures Sharpe Ratio (or Efficiency) of 0.0514, which signifies that the company had a 0.0514% return per unit of risk over the last 3 months. By examining CANEX Metals' technical indicators, you can evaluate if the expected return of 0.94% is justified by implied risk. Please makes use of CANEX Metals' Variance of 327.93, coefficient of variation of 1976.48, and Mean Deviation of 6.83 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, CANEX Metals holds a performance score of 4. The firm shows a Beta (market volatility) of 2.12, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, CANEX Metals will likely underperform. Please check CANEX Metals' potential upside, as well as the relationship between the rate of daily change and period momentum indicator , to make a quick decision on whether CANEX Metals' price patterns will revert.
Auto-correlation | 0.16 |
Very weak predictability
CANEX Metals has very weak predictability. Overlapping area represents the amount of predictability between CANEX Metals time series from 29th of December 2022 to 24th of December 2023 and 24th of December 2023 to 18th 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 CANEX Metals price movement. The serial correlation of 0.16 indicates that over 16.0% of current CANEX Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.16 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
CANEX Metals lagged returns against current returns
Autocorrelation, which is CANEX Metals pink sheet'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 CANEX Metals' pink sheet expected returns. We can calculate the autocorrelation of CANEX Metals returns to help us make a trade decision. For example, suppose you find that CANEX Metals has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
CANEX Metals 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 CANEX Metals pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CANEX Metals pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CANEX Metals pink sheet over time.
Current vs Lagged Prices |
| Timeline |
CANEX Metals Lagged Returns
When evaluating CANEX Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CANEX Metals pink sheet have on its future price. CANEX Metals 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, CANEX Metals autocorrelation shows the relationship between CANEX Metals pink sheet current value and its past values and can show if there is a momentum factor associated with investing in CANEX Metals.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Other Information on Investing in CANEX Pink Sheet
CANEX Metals financial ratios help investors to determine whether CANEX Pink Sheet 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 CANEX with respect to the benefits of owning CANEX Metals security.