Sandstorm Gold Ltd Stock Market Value
| SSL Stock | CAD 8.15 0.03 0.37% |
| Symbol | Sandstorm |
Sandstorm Gold Price To Book Ratio
Sandstorm Gold '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 Sandstorm Gold'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 Sandstorm Gold.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Sandstorm Gold on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Sandstorm Gold Ltd or generate 0.0% return on investment in Sandstorm Gold over 30 days. Sandstorm Gold is related to or competes with Osisko Gold, Wheaton Precious, Seabridge Gold, MAG Silver, and SSR Mining. It focuses on acquiring gold and other metal purchase agreements and royalties from companies that have advanced stage d... More
Sandstorm Gold 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 Sandstorm Gold'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 Sandstorm Gold Ltd upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.4 | |||
| Information Ratio | 0.0011 | |||
| Maximum Drawdown | 15.34 | |||
| Value At Risk | (2.38) | |||
| Potential Upside | 3.1 |
Sandstorm Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sandstorm Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sandstorm Gold's standard deviation. In reality, there are many statistical measures that can use Sandstorm Gold historical prices to predict the future Sandstorm Gold's volatility.| Risk Adjusted Performance | 0.0514 | |||
| Jensen Alpha | 0.1456 | |||
| Total Risk Alpha | (0.24) | |||
| Sortino Ratio | 0.0011 | |||
| Treynor Ratio | (0.67) |
Sandstorm Gold Backtested Returns
As of now, Sandstorm Stock is somewhat reliable. Sandstorm Gold owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0575, which indicates the firm had a 0.0575% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Sandstorm Gold Ltd, which you can use to evaluate the volatility of the company. Please validate Sandstorm Gold's Semi Deviation of 2.22, coefficient of variation of 1713.02, and Risk Adjusted Performance of 0.0514 to confirm if the risk estimate we provide is consistent with the expected return of 0.13%. Sandstorm Gold has a performance score of 4 on a scale of 0 to 100. The entity has a beta of -0.18, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Sandstorm Gold are expected to decrease at a much lower rate. During the bear market, Sandstorm Gold is likely to outperform the market. Sandstorm Gold right now has a risk of 2.31%. Please validate Sandstorm Gold semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if Sandstorm Gold will be following its existing price patterns.
Auto-correlation | -0.39 |
Poor reverse predictability
Sandstorm Gold Ltd has poor reverse predictability. Overlapping area represents the amount of predictability between Sandstorm Gold time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Sandstorm Gold price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Sandstorm Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Sandstorm Gold lagged returns against current returns
Autocorrelation, which is Sandstorm Gold 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 Sandstorm Gold's stock expected returns. We can calculate the autocorrelation of Sandstorm Gold returns to help us make a trade decision. For example, suppose you find that Sandstorm Gold 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 |
Sandstorm Gold 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 Sandstorm Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sandstorm Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sandstorm Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Sandstorm Gold Lagged Returns
When evaluating Sandstorm Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sandstorm Gold stock have on its future price. Sandstorm Gold 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, Sandstorm Gold autocorrelation shows the relationship between Sandstorm Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Sandstorm Gold Ltd.
Regressed Prices |
| Timeline |
Pair Trading with Sandstorm Gold
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 Sandstorm Gold 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 Sandstorm Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Sandstorm Stock
Moving against Sandstorm Stock
The ability to find closely correlated positions to Sandstorm Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sandstorm Gold 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 Sandstorm Gold - 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 Sandstorm Gold Ltd to buy it.
The correlation of Sandstorm Gold 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 Sandstorm Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sandstorm Gold 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 Sandstorm Gold 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 Sandstorm Gold Correlation, Sandstorm Gold Volatility and Sandstorm Gold Alpha and Beta module to complement your research on Sandstorm Gold. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
Sandstorm Gold 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.