Wescan Goldfields Stock Market Value
| WGF Stock | CAD 0.02 0.00 0.00% |
| Symbol | Wescan |
Wescan Goldfields '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 Wescan Goldfields' 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 Wescan Goldfields.
| 10/10/2023 |
| 12/03/2024 |
If you would invest 0.00 in Wescan Goldfields on October 10, 2023 and sell it all today you would earn a total of 0.00 from holding Wescan Goldfields or generate 0.0% return on investment in Wescan Goldfields over 420 days. Wescan Goldfields is related to or competes with Everyday People, Royal Bank, Canaf Investments, and Income Financial. Wescan Goldfields Inc. engages in the acquisition, exploration, and development of mineral properties in Canada More
Wescan Goldfields 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 Wescan Goldfields' 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 Wescan Goldfields upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 66.67 |
Wescan Goldfields Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wescan Goldfields' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wescan Goldfields' standard deviation. In reality, there are many statistical measures that can use Wescan Goldfields historical prices to predict the future Wescan Goldfields' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.50) | |||
| Total Risk Alpha | (1.38) | |||
| Treynor Ratio | (0.41) |
Wescan Goldfields Backtested Returns
Wescan Goldfields shows Sharpe Ratio of -0.0587, which attests that the company had a -0.0587% return per unit of risk over the last 3 months. Wescan Goldfields exposes sixteen different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wescan Goldfields' Mean Deviation of 1.74, market risk adjusted performance of (0.40), and Standard Deviation of 6.61 to validate the risk estimate we provide. The firm maintains a market beta of 0.95, which attests to possible diversification benefits within a given portfolio. Wescan Goldfields returns are very sensitive to returns on the market. As the market goes up or down, Wescan Goldfields is expected to follow. At this point, Wescan Goldfields has a negative expected return of -0.4%. Please make sure to check out Wescan Goldfields' variance, as well as the relationship between the skewness and day typical price , to decide if Wescan Goldfields performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.45 |
Average predictability
Wescan Goldfields has average predictability. Overlapping area represents the amount of predictability between Wescan Goldfields time series from 10th of October 2023 to 7th of May 2024 and 7th of May 2024 to 3rd 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 Wescan Goldfields price movement. The serial correlation of 0.45 indicates that just about 45.0% of current Wescan Goldfields price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.45 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Wescan Goldfields lagged returns against current returns
Autocorrelation, which is Wescan Goldfields 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 Wescan Goldfields' stock expected returns. We can calculate the autocorrelation of Wescan Goldfields returns to help us make a trade decision. For example, suppose you find that Wescan Goldfields 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 |
Wescan Goldfields 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 Wescan Goldfields stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wescan Goldfields stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wescan Goldfields stock over time.
Current vs Lagged Prices |
| Timeline |
Wescan Goldfields Lagged Returns
When evaluating Wescan Goldfields' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wescan Goldfields stock have on its future price. Wescan Goldfields 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, Wescan Goldfields autocorrelation shows the relationship between Wescan Goldfields stock current value and its past values and can show if there is a momentum factor associated with investing in Wescan Goldfields.
Regressed Prices |
| Timeline |
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Additional Tools for Wescan Stock Analysis
When running Wescan Goldfields' price analysis, check to measure Wescan Goldfields' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Wescan Goldfields is operating at the current time. Most of Wescan Goldfields' value examination focuses on studying past and present price action to predict the probability of Wescan Goldfields' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wescan Goldfields' price. Additionally, you may evaluate how the addition of Wescan Goldfields to your portfolios can decrease your overall portfolio volatility.