Steppe Gold Stock Market Value
| STGO Stock | CAD 0.62 0.02 3.13% |
| Symbol | Steppe |
Steppe Gold Price To Book Ratio
Steppe 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 Steppe 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 Steppe Gold.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Steppe Gold on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Steppe Gold or generate 0.0% return on investment in Steppe Gold over 30 days. Steppe Gold is related to or competes with First Majestic, Ivanhoe Energy, Orezone Gold, and Faraday Copper. Steppe Gold Ltd. explores for and develops precious metals in Mongolia and Canada More
Steppe 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 Steppe 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 Steppe Gold upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.73 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 16.31 | |||
| Value At Risk | (6.25) | |||
| Potential Upside | 7.35 |
Steppe Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Steppe Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Steppe Gold's standard deviation. In reality, there are many statistical measures that can use Steppe Gold historical prices to predict the future Steppe Gold's volatility.| Risk Adjusted Performance | 0.0216 | |||
| Jensen Alpha | 0.0858 | |||
| Total Risk Alpha | (0.53) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.23) |
Steppe Gold Backtested Returns
As of now, Steppe Stock is abnormally volatile. Steppe Gold owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0116, which indicates the firm had a 0.0116% return per unit of risk over the last 3 months. We have found thirty technical indicators for Steppe Gold, which you can use to evaluate the volatility of the company. Please validate Steppe Gold's Risk Adjusted Performance of 0.0216, semi deviation of 2.89, and Coefficient Of Variation of 5575.62 to confirm if the risk estimate we provide is consistent with the expected return of 0.0441%. The entity has a beta of -0.25, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Steppe Gold are expected to decrease at a much lower rate. During the bear market, Steppe Gold is likely to outperform the market. Steppe Gold right now has a risk of 3.79%. Please validate Steppe Gold standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Steppe Gold will be following its existing price patterns.
Auto-correlation | 0.54 |
Modest predictability
Steppe Gold has modest predictability. Overlapping area represents the amount of predictability between Steppe Gold time series from 29th of October 2024 to 13th of November 2024 and 13th of November 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 Steppe Gold price movement. The serial correlation of 0.54 indicates that about 54.0% of current Steppe Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Steppe Gold lagged returns against current returns
Autocorrelation, which is Steppe 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 Steppe Gold's stock expected returns. We can calculate the autocorrelation of Steppe Gold returns to help us make a trade decision. For example, suppose you find that Steppe 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 |
Steppe 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 Steppe Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Steppe Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Steppe Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Steppe Gold Lagged Returns
When evaluating Steppe Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Steppe Gold stock have on its future price. Steppe 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, Steppe Gold autocorrelation shows the relationship between Steppe Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Steppe Gold.
Regressed Prices |
| Timeline |
Pair Trading with Steppe 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 Steppe 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 Steppe Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Steppe Stock
| 0.76 | AG | First Majestic Silver | PairCorr |
| 0.64 | IE | Ivanhoe Energy | PairCorr |
| 0.69 | ORE | Orezone Gold Corp | PairCorr |
Moving against Steppe Stock
The ability to find closely correlated positions to Steppe 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 Steppe 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 Steppe 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 Steppe Gold to buy it.
The correlation of Steppe 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 Steppe Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Steppe 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 Steppe 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.Other Information on Investing in Steppe Stock
Steppe Gold financial ratios help investors to determine whether Steppe Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Steppe with respect to the benefits of owning Steppe Gold security.