Sumitomo Metal Mining Stock Market Value
| SMMYY Stock | USD 6.08 0.03 0.50% |
| Symbol | Sumitomo |
Sumitomo Metal '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 Sumitomo Metal's pink sheet 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 Sumitomo Metal.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Sumitomo Metal on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Sumitomo Metal Mining or generate 0.0% return on investment in Sumitomo Metal over 720 days. Sumitomo Metal is related to or competes with Ameriwest Lithium, and Osisko Metals. Sumitomo Metal Mining Co., Ltd., together with its subsidiaries, engages in mining, smelting, and refining non-ferrous m... More
Sumitomo Metal 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 Sumitomo Metal's pink sheet 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 Sumitomo Metal Mining upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 13.5 | |||
| Value At Risk | (4.16) | |||
| Potential Upside | 3.42 |
Sumitomo Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sumitomo Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sumitomo Metal's standard deviation. In reality, there are many statistical measures that can use Sumitomo Metal historical prices to predict the future Sumitomo Metal's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | (0.33) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Sumitomo Metal's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Sumitomo Metal Mining Backtested Returns
Sumitomo Metal Mining owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0713, which indicates the firm had a -0.0713% return per unit of risk over the last 3 months. Sumitomo Metal Mining exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sumitomo Metal's Risk Adjusted Performance of (0.06), coefficient of variation of (1,091), and Variance of 5.48 to confirm the risk estimate we provide. The entity has a beta of 0.68, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sumitomo Metal's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sumitomo Metal is expected to be smaller as well. At this point, Sumitomo Metal Mining has a negative expected return of -0.17%. Please make sure to validate Sumitomo Metal's kurtosis, and the relationship between the value at risk and rate of daily change , to decide if Sumitomo Metal Mining performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
Sumitomo Metal Mining has weak predictability. Overlapping area represents the amount of predictability between Sumitomo Metal time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 Sumitomo Metal Mining price movement. The serial correlation of 0.2 indicates that over 20.0% of current Sumitomo Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.44 |
Sumitomo Metal Mining lagged returns against current returns
Autocorrelation, which is Sumitomo Metal pink sheet'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 Sumitomo Metal's pink sheet expected returns. We can calculate the autocorrelation of Sumitomo Metal returns to help us make a trade decision. For example, suppose you find that Sumitomo Metal has exhibited high autocorrelation historically, and you observe that the pink sheet 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 |
Sumitomo Metal 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 Sumitomo Metal pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sumitomo Metal pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sumitomo Metal pink sheet over time.
Current vs Lagged Prices |
| Timeline |
Sumitomo Metal Lagged Returns
When evaluating Sumitomo Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sumitomo Metal pink sheet have on its future price. Sumitomo Metal 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, Sumitomo Metal autocorrelation shows the relationship between Sumitomo Metal pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Sumitomo Metal Mining.
Regressed Prices |
| Timeline |
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Additional Tools for Sumitomo Pink Sheet Analysis
When running Sumitomo Metal's price analysis, check to measure Sumitomo Metal'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 Sumitomo Metal is operating at the current time. Most of Sumitomo Metal's value examination focuses on studying past and present price action to predict the probability of Sumitomo Metal's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Sumitomo Metal's price. Additionally, you may evaluate how the addition of Sumitomo Metal to your portfolios can decrease your overall portfolio volatility.