Taseko Mines Stock Market Value
| TKO Stock | CAD 2.93 0.01 0.34% |
| Symbol | Taseko |
Taseko Mines Price To Book Ratio
Taseko Mines '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 Taseko Mines' 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 Taseko Mines.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in Taseko Mines on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding Taseko Mines or generate 0.0% return on investment in Taseko Mines over 360 days. Taseko Mines is related to or competes with Capstone Mining, Western Copper, and Imperial Metals. Taseko Mines Limited, a mining company, acquires, develops, and operates mineral properties in Canada and the United Sta... More
Taseko Mines 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 Taseko Mines' 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 Taseko Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.8 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 21.46 | |||
| Value At Risk | (5.65) | |||
| Potential Upside | 4.48 |
Taseko Mines Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taseko Mines' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taseko Mines' standard deviation. In reality, there are many statistical measures that can use Taseko Mines historical prices to predict the future Taseko Mines' volatility.| Risk Adjusted Performance | 0.0143 | |||
| Jensen Alpha | 0.0874 | |||
| Total Risk Alpha | (0.48) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.03) |
Taseko Mines Backtested Returns
Taseko Mines owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.004, which indicates the firm had a -0.004% return per unit of risk over the last 3 months. Taseko Mines exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Taseko Mines' Semi Deviation of 3.68, risk adjusted performance of 0.0143, and Coefficient Of Variation of 12174.22 to confirm the risk estimate we provide. The entity has a beta of -0.66, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Taseko Mines are expected to decrease at a much lower rate. During the bear market, Taseko Mines is likely to outperform the market. At this point, Taseko Mines has a negative expected return of -0.0154%. Please make sure to validate Taseko Mines' skewness, and the relationship between the potential upside and rate of daily change , to decide if Taseko Mines performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.08 |
Very weak reverse predictability
Taseko Mines has very weak reverse predictability. Overlapping area represents the amount of predictability between Taseko Mines time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd 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 Taseko Mines price movement. The serial correlation of -0.08 indicates that barely 8.0% of current Taseko Mines price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.08 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Taseko Mines lagged returns against current returns
Autocorrelation, which is Taseko Mines 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 Taseko Mines' stock expected returns. We can calculate the autocorrelation of Taseko Mines returns to help us make a trade decision. For example, suppose you find that Taseko Mines 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 |
Taseko Mines 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 Taseko Mines stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taseko Mines stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taseko Mines stock over time.
Current vs Lagged Prices |
| Timeline |
Taseko Mines Lagged Returns
When evaluating Taseko Mines' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taseko Mines stock have on its future price. Taseko Mines 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, Taseko Mines autocorrelation shows the relationship between Taseko Mines stock current value and its past values and can show if there is a momentum factor associated with investing in Taseko Mines.
Regressed Prices |
| Timeline |
Pair Trading with Taseko Mines
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 Taseko Mines 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 Taseko Mines will appreciate offsetting losses from the drop in the long position's value.Moving together with Taseko Stock
The ability to find closely correlated positions to Taseko Mines could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taseko Mines 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 Taseko Mines - 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 Taseko Mines to buy it.
The correlation of Taseko Mines 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 Taseko Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taseko Mines 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 Taseko Mines 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 Taseko Mines Correlation, Taseko Mines Volatility and Taseko Mines Alpha and Beta module to complement your research on Taseko Mines. To learn how to invest in Taseko Stock, please use our How to Invest in Taseko Mines guide.You can also try the Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
Taseko Mines 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.