Touchstone Exploration Stock Market Value
| TXP Stock | CAD 0.53 0.02 3.64% |
| Symbol | Touchstone |
Touchstone Exploration '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 Touchstone Exploration'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 Touchstone Exploration.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Touchstone Exploration on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Touchstone Exploration or generate 0.0% return on investment in Touchstone Exploration over 30 days. Touchstone Exploration is related to or competes with Headwater Exploration, Gear Energy, Canacol Energy, InPlay Oil, and Gran Tierra. Touchstone Exploration Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and p... More
Touchstone Exploration 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 Touchstone Exploration'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 Touchstone Exploration upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 16.81 | |||
| Value At Risk | (5.08) | |||
| Potential Upside | 5.26 |
Touchstone Exploration Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Touchstone Exploration's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Touchstone Exploration's standard deviation. In reality, there are many statistical measures that can use Touchstone Exploration historical prices to predict the future Touchstone Exploration's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.63) | |||
| Treynor Ratio | (0.12) |
Touchstone Exploration Backtested Returns
Touchstone Exploration owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0173, which indicates the firm had a -0.0173% return per unit of risk over the last 3 months. Touchstone Exploration exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Touchstone Exploration's Variance of 11.29, risk adjusted performance of (0.01), and Coefficient Of Variation of (5,793) to confirm the risk estimate we provide. The entity has a beta of 0.57, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Touchstone Exploration's returns are expected to increase less than the market. However, during the bear market, the loss of holding Touchstone Exploration is expected to be smaller as well. At this point, Touchstone Exploration has a negative expected return of -0.058%. Please make sure to validate Touchstone Exploration's accumulation distribution, as well as the relationship between the day typical price and relative strength index , to decide if Touchstone Exploration performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.45 |
Modest reverse predictability
Touchstone Exploration has modest reverse predictability. Overlapping area represents the amount of predictability between Touchstone Exploration time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 to 2nd of December 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 Touchstone Exploration price movement. The serial correlation of -0.45 indicates that just about 45.0% of current Touchstone Exploration price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Touchstone Exploration lagged returns against current returns
Autocorrelation, which is Touchstone Exploration 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 Touchstone Exploration's stock expected returns. We can calculate the autocorrelation of Touchstone Exploration returns to help us make a trade decision. For example, suppose you find that Touchstone Exploration 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 |
Touchstone Exploration 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 Touchstone Exploration stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Touchstone Exploration stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Touchstone Exploration stock over time.
Current vs Lagged Prices |
| Timeline |
Touchstone Exploration Lagged Returns
When evaluating Touchstone Exploration's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Touchstone Exploration stock have on its future price. Touchstone Exploration 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, Touchstone Exploration autocorrelation shows the relationship between Touchstone Exploration stock current value and its past values and can show if there is a momentum factor associated with investing in Touchstone Exploration.
Regressed Prices |
| Timeline |
Pair Trading with Touchstone Exploration
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 Touchstone Exploration 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 Touchstone Exploration will appreciate offsetting losses from the drop in the long position's value.Moving against Touchstone Stock
| 0.63 | FFH-PK | Fairfax Financial | PairCorr |
| 0.62 | ENS-PA | E Split Corp | PairCorr |
| 0.61 | FFH-PI | Fairfax Financial | PairCorr |
| 0.6 | FFH-PG | Fairfax Fin Hld | PairCorr |
| 0.6 | FFH-PF | Fairfax Financial | PairCorr |
The ability to find closely correlated positions to Touchstone Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Touchstone Exploration 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 Touchstone Exploration - 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 Touchstone Exploration to buy it.
The correlation of Touchstone Exploration 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 Touchstone Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Touchstone Exploration 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 Touchstone Exploration 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 Touchstone Stock
Touchstone Exploration financial ratios help investors to determine whether Touchstone 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 Touchstone with respect to the benefits of owning Touchstone Exploration security.