Starcore International Mines Stock Market Value
| SAM Stock | CAD 0.16 0.02 14.29% |
| Symbol | Starcore |
Starcore International Price To Book Ratio
Starcore International '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 Starcore International'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 Starcore International.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Starcore International on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Starcore International Mines or generate 0.0% return on investment in Starcore International over 30 days. Starcore International is related to or competes with Kiplin Metals, Pure Energy, and Noram Lithium. Starcore International Mines Ltd., a mineral resource company, explores for, develops, and produces mineral resources in... More
Starcore International 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 Starcore International'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 Starcore International Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 8.9 | |||
| Information Ratio | 0.0751 | |||
| Maximum Drawdown | 39.77 | |||
| Value At Risk | (12.50) | |||
| Potential Upside | 14.29 |
Starcore International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Starcore International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Starcore International's standard deviation. In reality, there are many statistical measures that can use Starcore International historical prices to predict the future Starcore International's volatility.| Risk Adjusted Performance | 0.0802 | |||
| Jensen Alpha | 0.644 | |||
| Total Risk Alpha | (0.57) | |||
| Sortino Ratio | 0.0643 | |||
| Treynor Ratio | 1.59 |
Starcore International Backtested Returns
Starcore International appears to be out of control, given 3 months investment horizon. Starcore International owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0949, which indicates the firm had a 0.0949% return per unit of risk over the last 3 months. By inspecting Starcore International's technical indicators, you can evaluate if the expected return of 0.72% is justified by implied risk. Please review Starcore International's Semi Deviation of 4.85, coefficient of variation of 1074.0, and Risk Adjusted Performance of 0.0802 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Starcore International holds a performance score of 7. The entity has a beta of 0.44, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Starcore International's returns are expected to increase less than the market. However, during the bear market, the loss of holding Starcore International is expected to be smaller as well. Please check Starcore International's downside variance, day median price, and the relationship between the treynor ratio and kurtosis , to make a quick decision on whether Starcore International's existing price patterns will revert.
Auto-correlation | -0.2 |
Insignificant reverse predictability
Starcore International Mines has insignificant reverse predictability. Overlapping area represents the amount of predictability between Starcore International time series from 1st of November 2024 to 16th of November 2024 and 16th of November 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 Starcore International price movement. The serial correlation of -0.2 indicates that over 20.0% of current Starcore International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.2 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Starcore International lagged returns against current returns
Autocorrelation, which is Starcore International 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 Starcore International's stock expected returns. We can calculate the autocorrelation of Starcore International returns to help us make a trade decision. For example, suppose you find that Starcore International 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 |
Starcore International 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 Starcore International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Starcore International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Starcore International stock over time.
Current vs Lagged Prices |
| Timeline |
Starcore International Lagged Returns
When evaluating Starcore International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Starcore International stock have on its future price. Starcore International 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, Starcore International autocorrelation shows the relationship between Starcore International stock current value and its past values and can show if there is a momentum factor associated with investing in Starcore International Mines.
Regressed Prices |
| Timeline |
Pair Trading with Starcore International
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 Starcore International 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 Starcore International will appreciate offsetting losses from the drop in the long position's value.Moving together with Starcore Stock
| 0.65 | AG | First Majestic Silver | PairCorr |
| 0.61 | IE | Ivanhoe Energy | PairCorr |
| 0.68 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Starcore International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Starcore International 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 Starcore International - 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 Starcore International Mines to buy it.
The correlation of Starcore International 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 Starcore International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Starcore International 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 Starcore International 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 Starcore Stock
Starcore International financial ratios help investors to determine whether Starcore 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 Starcore with respect to the benefits of owning Starcore International security.