Solitario Exploration Royalty Stock Market Value
| SLR Stock | CAD 0.87 0.05 6.10% |
| Symbol | Solitario |
Solitario Exploration Price To Book Ratio
Solitario Exploration '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 Solitario Exploration'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 Solitario Exploration.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Solitario Exploration on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding Solitario Exploration Royalty or generate 0.0% return on investment in Solitario Exploration over 30 days. Solitario Zinc Corp., an exploration stage company, engages in the acquisition, exploration, and development of zinc pro... More
Solitario Exploration 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 Solitario Exploration'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 Solitario Exploration Royalty upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 23.58 | |||
| Value At Risk | (6.73) | |||
| Potential Upside | 5.05 |
Solitario Exploration Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solitario Exploration's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solitario Exploration's standard deviation. In reality, there are many statistical measures that can use Solitario Exploration historical prices to predict the future Solitario Exploration's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.91) | |||
| Treynor Ratio | 0.3936 |
Solitario Exploration Backtested Returns
Solitario Exploration owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.062, which indicates the firm had a -0.062% return per unit of risk over the last 3 months. Solitario Exploration Royalty exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Solitario Exploration's Variance of 14.49, coefficient of variation of (1,221), and Risk Adjusted Performance of (0.05) to confirm the risk estimate we provide. The entity has a beta of -0.82, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Solitario Exploration are expected to decrease at a much lower rate. During the bear market, Solitario Exploration is likely to outperform the market. At this point, Solitario Exploration has a negative expected return of -0.22%. Please make sure to validate Solitario Exploration's potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Solitario Exploration performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.79 |
Almost perfect reverse predictability
Solitario Exploration Royalty has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Solitario Exploration 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 Solitario Exploration price movement. The serial correlation of -0.79 indicates that around 79.0% of current Solitario Exploration price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.79 | |
| Spearman Rank Test | -0.65 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Solitario Exploration lagged returns against current returns
Autocorrelation, which is Solitario Exploration 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 Solitario Exploration's stock expected returns. We can calculate the autocorrelation of Solitario Exploration returns to help us make a trade decision. For example, suppose you find that Solitario Exploration 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 |
Solitario Exploration 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 Solitario Exploration stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solitario Exploration stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solitario Exploration stock over time.
Current vs Lagged Prices |
| Timeline |
Solitario Exploration Lagged Returns
When evaluating Solitario Exploration's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solitario Exploration stock have on its future price. Solitario Exploration 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, Solitario Exploration autocorrelation shows the relationship between Solitario Exploration stock current value and its past values and can show if there is a momentum factor associated with investing in Solitario Exploration Royalty.
Regressed Prices |
| Timeline |
Pair Trading with Solitario Exploration
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 Solitario Exploration 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 Solitario Exploration will appreciate offsetting losses from the drop in the long position's value.Moving together with Solitario Stock
Moving against Solitario Stock
| 0.76 | RY | Royal Bank Earnings Call This Week | PairCorr |
| 0.75 | BOFA | Bank of America | PairCorr |
| 0.69 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.67 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.66 | RY-PJ | Royal Bank Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Solitario Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solitario Exploration 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 Solitario Exploration - 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 Solitario Exploration Royalty to buy it.
The correlation of Solitario Exploration 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 Solitario Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solitario Exploration 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 Solitario Exploration 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 Solitario Exploration Correlation, Solitario Exploration Volatility and Solitario Exploration Alpha and Beta module to complement your research on Solitario Exploration. You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Solitario Exploration 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.