Sky Metals (Australia) Market Value
| SKY Stock | 0.05 0 1.92% |
| Symbol | Sky |
Sky Metals '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 Sky Metals' 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 Sky Metals.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Sky Metals on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Sky Metals or generate 0.0% return on investment in Sky Metals over 30 days. Sky Metals is related to or competes with Northern Star, Evolution Mining, Bluescope Steel, Sandfire Resources, Aneka Tambang, Perseus Mining, and De Grey. Sky Metals is entity of Australia. It is traded as Stock on AU exchange. More
Sky Metals 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 Sky Metals' 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 Sky Metals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.63 | |||
| Information Ratio | 0.1468 | |||
| Maximum Drawdown | 24.31 | |||
| Value At Risk | (5.88) | |||
| Potential Upside | 10.42 |
Sky Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sky Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sky Metals' standard deviation. In reality, there are many statistical measures that can use Sky Metals historical prices to predict the future Sky Metals' volatility.| Risk Adjusted Performance | 0.1406 | |||
| Jensen Alpha | 0.9608 | |||
| Total Risk Alpha | 0.0773 | |||
| Sortino Ratio | 0.1562 | |||
| Treynor Ratio | (0.84) |
Sky Metals Backtested Returns
Sky Metals appears to be out of control, given 3 months investment horizon. Sky Metals owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.18, which indicates the firm had a 0.18% return per unit of risk over the last 3 months. By inspecting Sky Metals' technical indicators, you can evaluate if the expected return of 0.91% is justified by implied risk. Please review Sky Metals' Semi Deviation of 2.83, coefficient of variation of 578.28, and Risk Adjusted Performance of 0.1406 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Sky Metals holds a performance score of 14. The entity has a beta of -1.0, which indicates a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Sky Metals are expected to decrease slowly. On the other hand, during market turmoil, Sky Metals is expected to outperform it slightly. Please check Sky Metals' potential upside, skewness, rate of daily change, as well as the relationship between the semi variance and accumulation distribution , to make a quick decision on whether Sky Metals' existing price patterns will revert.
Auto-correlation | -0.45 |
Modest reverse predictability
Sky Metals has modest reverse predictability. Overlapping area represents the amount of predictability between Sky Metals time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 Sky Metals price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Sky Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.64 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Sky Metals lagged returns against current returns
Autocorrelation, which is Sky Metals 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 Sky Metals' stock expected returns. We can calculate the autocorrelation of Sky Metals returns to help us make a trade decision. For example, suppose you find that Sky Metals 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 |
Sky Metals 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 Sky Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sky Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sky Metals stock over time.
Current vs Lagged Prices |
| Timeline |
Sky Metals Lagged Returns
When evaluating Sky Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sky Metals stock have on its future price. Sky Metals 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, Sky Metals autocorrelation shows the relationship between Sky Metals stock current value and its past values and can show if there is a momentum factor associated with investing in Sky Metals.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Sky Stock Analysis
When running Sky Metals' price analysis, check to measure Sky Metals' 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 Sky Metals is operating at the current time. Most of Sky Metals' value examination focuses on studying past and present price action to predict the probability of Sky Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sky Metals' price. Additionally, you may evaluate how the addition of Sky Metals to your portfolios can decrease your overall portfolio volatility.