Aura Minerals Stock Market Value
| ORA Stock | CAD 17.80 0.31 1.77% |
| Symbol | Aura |
Aura Minerals Price To Book Ratio
Aura Minerals '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 Aura Minerals' 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 Aura Minerals.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Aura Minerals on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Aura Minerals or generate 0.0% return on investment in Aura Minerals over 270 days. Aura Minerals is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. Aura Minerals Inc., a gold and copper production company, focuses on the development and operation of gold and base meta... More
Aura Minerals 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 Aura Minerals' 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 Aura Minerals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.66 | |||
| Information Ratio | 0.1081 | |||
| Maximum Drawdown | 13.52 | |||
| Value At Risk | (4.55) | |||
| Potential Upside | 4.86 |
Aura Minerals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Aura Minerals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Aura Minerals' standard deviation. In reality, there are many statistical measures that can use Aura Minerals historical prices to predict the future Aura Minerals' volatility.| Risk Adjusted Performance | 0.1273 | |||
| Jensen Alpha | 0.4367 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.1097 | |||
| Treynor Ratio | (2.02) |
Aura Minerals Backtested Returns
Aura Minerals appears to be not too volatile, given 3 months investment horizon. Aura Minerals secures Sharpe Ratio (or Efficiency) of 0.2, which signifies that the company had a 0.2% return per unit of risk over the last 3 months. By analyzing Aura Minerals' technical indicators, you can evaluate if the expected return of 0.52% is justified by implied risk. Please makes use of Aura Minerals' Downside Deviation of 2.66, risk adjusted performance of 0.1273, and Mean Deviation of 2.0 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Aura Minerals holds a performance score of 15. The firm shows a Beta (market volatility) of -0.2, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Aura Minerals are expected to decrease at a much lower rate. During the bear market, Aura Minerals is likely to outperform the market. Please check Aura Minerals' skewness, day typical price, and the relationship between the downside variance and daily balance of power , to make a quick decision on whether Aura Minerals' price patterns will revert.
Auto-correlation | 0.77 |
Good predictability
Aura Minerals has good predictability. Overlapping area represents the amount of predictability between Aura Minerals time series from 27th of February 2024 to 11th of July 2024 and 11th of July 2024 to 23rd 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 Aura Minerals price movement. The serial correlation of 0.77 indicates that around 77.0% of current Aura Minerals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 2.61 |
Aura Minerals lagged returns against current returns
Autocorrelation, which is Aura Minerals 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 Aura Minerals' stock expected returns. We can calculate the autocorrelation of Aura Minerals returns to help us make a trade decision. For example, suppose you find that Aura Minerals 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 |
Aura Minerals 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 Aura Minerals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Aura Minerals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Aura Minerals stock over time.
Current vs Lagged Prices |
| Timeline |
Aura Minerals Lagged Returns
When evaluating Aura Minerals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Aura Minerals stock have on its future price. Aura Minerals 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, Aura Minerals autocorrelation shows the relationship between Aura Minerals stock current value and its past values and can show if there is a momentum factor associated with investing in Aura Minerals.
Regressed Prices |
| Timeline |
Pair Trading with Aura Minerals
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 Aura Minerals 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 Aura Minerals will appreciate offsetting losses from the drop in the long position's value.Moving together with Aura Stock
| 0.79 | AG | First Majestic Silver | PairCorr |
| 0.81 | IE | Ivanhoe Energy | PairCorr |
| 0.74 | FDY | Faraday Copper Corp | PairCorr |
Moving against Aura Stock
The ability to find closely correlated positions to Aura Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Aura Minerals 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 Aura Minerals - 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 Aura Minerals to buy it.
The correlation of Aura Minerals 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 Aura Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Aura Minerals 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 Aura Minerals 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.Other Information on Investing in Aura Stock
Aura Minerals financial ratios help investors to determine whether Aura Stock 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 Aura with respect to the benefits of owning Aura Minerals security.