Spruce Ridge Resources Stock Market Value
| SHL Stock | CAD 0.03 0.01 25.00% |
| Symbol | Spruce |
Spruce Ridge '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 Spruce Ridge'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 Spruce Ridge.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Spruce Ridge on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Spruce Ridge Resources or generate 0.0% return on investment in Spruce Ridge over 30 days. Spruce Ridge is related to or competes with Element Fleet, AGF Management, Brookfield Asset, and Lion One. Spruce Ridge Resources Ltd., an exploration-stage company, engages in the acquisition, exploration, and development of m... More
Spruce Ridge 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 Spruce Ridge'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 Spruce Ridge Resources upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 58.33 |
Spruce Ridge Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spruce Ridge's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spruce Ridge's standard deviation. In reality, there are many statistical measures that can use Spruce Ridge historical prices to predict the future Spruce Ridge's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (1.21) | |||
| Treynor Ratio | (0.14) |
Spruce Ridge Resources Backtested Returns
Spruce Ridge Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0164, which indicates the firm had a -0.0164% return per unit of risk over the last 3 months. Spruce Ridge Resources exposes twenty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Spruce Ridge's insignificant Risk Adjusted Performance, coefficient of variation of (6,097), and Variance of 67.15 to confirm the risk estimate we provide. The entity has a beta of 1.05, which indicates a somewhat significant risk relative to the market. Spruce Ridge returns are very sensitive to returns on the market. As the market goes up or down, Spruce Ridge is expected to follow. At this point, Spruce Ridge Resources has a negative expected return of -0.13%. Please make sure to validate Spruce Ridge's total risk alpha, rate of daily change, as well as the relationship between the Rate Of Daily Change and period momentum indicator , to decide if Spruce Ridge Resources performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.29 |
Weak reverse predictability
Spruce Ridge Resources has weak reverse predictability. Overlapping area represents the amount of predictability between Spruce Ridge time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Spruce Ridge Resources price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Spruce Ridge price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Spruce Ridge Resources lagged returns against current returns
Autocorrelation, which is Spruce Ridge 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 Spruce Ridge's stock expected returns. We can calculate the autocorrelation of Spruce Ridge returns to help us make a trade decision. For example, suppose you find that Spruce Ridge 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 |
Spruce Ridge 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 Spruce Ridge stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spruce Ridge stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spruce Ridge stock over time.
Current vs Lagged Prices |
| Timeline |
Spruce Ridge Lagged Returns
When evaluating Spruce Ridge's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spruce Ridge stock have on its future price. Spruce Ridge 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, Spruce Ridge autocorrelation shows the relationship between Spruce Ridge stock current value and its past values and can show if there is a momentum factor associated with investing in Spruce Ridge Resources.
Regressed Prices |
| Timeline |
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Additional Tools for Spruce Stock Analysis
When running Spruce Ridge's price analysis, check to measure Spruce Ridge's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Spruce Ridge is operating at the current time. Most of Spruce Ridge's value examination focuses on studying past and present price action to predict the probability of Spruce Ridge's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Spruce Ridge's price. Additionally, you may evaluate how the addition of Spruce Ridge to your portfolios can decrease your overall portfolio volatility.