Torex Gold Resources Stock Market Value
| TXG Stock | CAD 31.07 0.10 0.32% |
| Symbol | Torex |
Torex Gold Resources Price To Book Ratio
Torex 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 Torex 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 Torex Gold.
| 12/04/2022 |
| 11/23/2024 |
If you would invest 0.00 in Torex Gold on December 4, 2022 and sell it all today you would earn a total of 0.00 from holding Torex Gold Resources or generate 0.0% return on investment in Torex Gold over 720 days. Torex Gold is related to or competes with OceanaGold, Wesdome Gold, Centerra Gold, Alamos Gold, and Endeavour Mining. Torex Gold Resources Inc. engages in the exploration, development, and operation of mineral properties in Mexico More
Torex 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 Torex 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 Torex Gold Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.35 | |||
| Information Ratio | 0.0589 | |||
| Maximum Drawdown | 14.24 | |||
| Value At Risk | (3.78) | |||
| Potential Upside | 4.83 |
Torex Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Torex Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Torex Gold's standard deviation. In reality, there are many statistical measures that can use Torex Gold historical prices to predict the future Torex Gold's volatility.| Risk Adjusted Performance | 0.0903 | |||
| Jensen Alpha | 0.3188 | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | 0.0662 | |||
| Treynor Ratio | (0.78) |
Torex Gold Resources Backtested Returns
Torex Gold appears to be not too volatile, given 3 months investment horizon. Torex Gold Resources owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.1, which indicates the firm had a 0.1% return per unit of risk over the last 3 months. We have found thirty technical indicators for Torex Gold Resources, which you can use to evaluate the volatility of the company. Please review Torex Gold's Risk Adjusted Performance of 0.0903, coefficient of variation of 921.54, and Semi Deviation of 2.13 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Torex Gold holds a performance score of 8. The entity has a beta of -0.35, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Torex Gold are expected to decrease at a much lower rate. During the bear market, Torex Gold is likely to outperform the market. Please check Torex Gold's expected short fall, and the relationship between the value at risk and daily balance of power , to make a quick decision on whether Torex Gold's existing price patterns will revert.
Auto-correlation | -0.42 |
Modest reverse predictability
Torex Gold Resources has modest reverse predictability. Overlapping area represents the amount of predictability between Torex Gold time series from 4th of December 2022 to 29th of November 2023 and 29th of November 2023 to 23rd 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 Torex Gold Resources price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Torex Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.42 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 26.26 |
Torex Gold Resources lagged returns against current returns
Autocorrelation, which is Torex 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 Torex Gold's stock expected returns. We can calculate the autocorrelation of Torex Gold returns to help us make a trade decision. For example, suppose you find that Torex 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 |
Torex 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 Torex Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Torex Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Torex Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Torex Gold Lagged Returns
When evaluating Torex Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Torex Gold stock have on its future price. Torex 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, Torex Gold autocorrelation shows the relationship between Torex Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Torex Gold Resources.
Regressed Prices |
| Timeline |
Pair Trading with Torex 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 Torex 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 Torex Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Torex Stock
| 0.86 | AG | First Majestic Silver | PairCorr |
| 0.86 | IE | Ivanhoe Energy | PairCorr |
| 0.85 | FDY | Faraday Copper Corp | PairCorr |
Moving against Torex Stock
The ability to find closely correlated positions to Torex 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 Torex 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 Torex 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 Torex Gold Resources to buy it.
The correlation of Torex 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 Torex Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Torex Gold Resources 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 Torex 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 Torex Stock
Torex Gold financial ratios help investors to determine whether Torex 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 Torex with respect to the benefits of owning Torex Gold security.