Skeena Resources Stock Market Value
| SKE Stock | CAD 13.06 0.09 0.69% |
| Symbol | Skeena |
Skeena Resources Price To Book Ratio
Skeena Resources '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 Skeena Resources' 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 Skeena Resources.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Skeena Resources on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Skeena Resources or generate 0.0% return on investment in Skeena Resources over 180 days. Skeena Resources is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. Skeena Resources Limited explores and develops mineral properties in Canada More
Skeena Resources 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 Skeena Resources' 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 Skeena Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.7 | |||
| Information Ratio | 0.0677 | |||
| Maximum Drawdown | 20.78 | |||
| Value At Risk | (3.47) | |||
| Potential Upside | 5.64 |
Skeena Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Skeena Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Skeena Resources' standard deviation. In reality, there are many statistical measures that can use Skeena Resources historical prices to predict the future Skeena Resources' volatility.| Risk Adjusted Performance | 0.0898 | |||
| Jensen Alpha | 0.3811 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0793 | |||
| Treynor Ratio | (0.74) |
Skeena Resources Backtested Returns
Skeena Resources appears to be somewhat reliable, given 3 months investment horizon. Skeena Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.13, which indicates the firm had a 0.13% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Skeena Resources, which you can use to evaluate the volatility of the company. Please review Skeena Resources' Semi Deviation of 2.49, coefficient of variation of 931.6, and Risk Adjusted Performance of 0.0898 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Skeena Resources holds a performance score of 10. The entity has a beta of -0.45, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Skeena Resources are expected to decrease at a much lower rate. During the bear market, Skeena Resources is likely to outperform the market. Please check Skeena Resources' jensen alpha, semi variance, day typical price, as well as the relationship between the maximum drawdown and accumulation distribution , to make a quick decision on whether Skeena Resources' existing price patterns will revert.
Auto-correlation | 0.34 |
Below average predictability
Skeena Resources has below average predictability. Overlapping area represents the amount of predictability between Skeena Resources time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 Skeena Resources price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Skeena Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 1.3 |
Skeena Resources lagged returns against current returns
Autocorrelation, which is Skeena Resources 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 Skeena Resources' stock expected returns. We can calculate the autocorrelation of Skeena Resources returns to help us make a trade decision. For example, suppose you find that Skeena Resources 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 |
Skeena Resources 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 Skeena Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Skeena Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Skeena Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Skeena Resources Lagged Returns
When evaluating Skeena Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Skeena Resources stock have on its future price. Skeena Resources 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, Skeena Resources autocorrelation shows the relationship between Skeena Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Skeena Resources.
Regressed Prices |
| Timeline |
Pair Trading with Skeena Resources
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 Skeena Resources 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 Skeena Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with Skeena Stock
| 0.86 | AG | First Majestic Silver | PairCorr |
| 0.74 | IE | Ivanhoe Energy | PairCorr |
| 0.66 | FDY | Faraday Copper Corp | PairCorr |
Moving against Skeena Stock
The ability to find closely correlated positions to Skeena Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Skeena Resources 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 Skeena Resources - 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 Skeena Resources to buy it.
The correlation of Skeena Resources 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 Skeena Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Skeena Resources 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 Skeena Resources 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 Skeena Resources Correlation, Skeena Resources Volatility and Skeena Resources Alpha and Beta module to complement your research on Skeena Resources. To learn how to invest in Skeena Stock, please use our How to Invest in Skeena Resources guide.You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Skeena Resources 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.