New Pacific Metals Stock Market Value
| NUAG Stock | CAD 2.23 0.02 0.89% |
| Symbol | New |
New Pacific Metals Price To Book Ratio
New Pacific '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 Pacific'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 Pacific.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in New Pacific on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding New Pacific Metals or generate 0.0% return on investment in New Pacific over 90 days. New Pacific is related to or competes with SilverCrest Metals, Skeena Resources, Ascot Resources, and Orla Mining. New Pacific Metals Corp., together with its subsidiaries, engages in the exploration and development of mineral properti... More
New Pacific 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 Pacific'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 Pacific Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.2 | |||
| Information Ratio | 0.0319 | |||
| Maximum Drawdown | 21.79 | |||
| Value At Risk | (4.33) | |||
| Potential Upside | 8.29 |
New Pacific Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for New Pacific's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as New Pacific's standard deviation. In reality, there are many statistical measures that can use New Pacific historical prices to predict the future New Pacific's volatility.| Risk Adjusted Performance | 0.0586 | |||
| Jensen Alpha | 0.1377 | |||
| Total Risk Alpha | (0.42) | |||
| Sortino Ratio | 0.0401 | |||
| Treynor Ratio | 0.2765 |
New Pacific Metals Backtested Returns
New Pacific appears to be very risky, given 3 months investment horizon. New Pacific Metals has Sharpe Ratio of 0.0855, which conveys that the firm had a 0.0855% return per unit of risk over the last 3 months. We have found thirty technical indicators for New Pacific, which you can use to evaluate the volatility of the firm. Please exercise New Pacific's Downside Deviation of 3.2, mean deviation of 3.02, and Risk Adjusted Performance of 0.0586 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, New Pacific holds a performance score of 6. The company secures a Beta (Market Risk) of 0.93, which conveys possible diversification benefits within a given portfolio. New Pacific returns are very sensitive to returns on the market. As the market goes up or down, New Pacific is expected to follow. Please check New Pacific's value at risk, downside variance, and the relationship between the maximum drawdown and potential upside , to make a quick decision on whether New Pacific's current price movements will revert.
Auto-correlation | -0.69 |
Very good reverse predictability
New Pacific Metals has very good reverse predictability. Overlapping area represents the amount of predictability between New Pacific time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 2024 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 New Pacific Metals price movement. The serial correlation of -0.69 indicates that around 69.0% of current New Pacific price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.69 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
New Pacific Metals lagged returns against current returns
Autocorrelation, which is New Pacific 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 Pacific's stock expected returns. We can calculate the autocorrelation of New Pacific returns to help us make a trade decision. For example, suppose you find that New Pacific 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 Pacific 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 Pacific stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if New Pacific stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in New Pacific stock over time.
Current vs Lagged Prices |
| Timeline |
New Pacific Lagged Returns
When evaluating New Pacific's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of New Pacific stock have on its future price. New Pacific 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 Pacific autocorrelation shows the relationship between New Pacific stock current value and its past values and can show if there is a momentum factor associated with investing in New Pacific Metals.
Regressed Prices |
| Timeline |
Pair Trading with New Pacific
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 New Pacific 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 New Pacific will appreciate offsetting losses from the drop in the long position's value.Moving together with New Stock
| 0.92 | AG | First Majestic Silver | PairCorr |
| 0.84 | IE | Ivanhoe Energy | PairCorr |
| 0.69 | FDY | Faraday Copper Corp | PairCorr |
Moving against New Stock
The ability to find closely correlated positions to New Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Pacific 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 New Pacific - 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 New Pacific Metals to buy it.
The correlation of New Pacific 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 New Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Pacific Metals 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 New Pacific 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 New Pacific Correlation, New Pacific Volatility and New Pacific Alpha and Beta module to complement your research on New Pacific. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
New Pacific 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.