Westgold Resources Limited Stock Market Value
| WGX Stock | 6.90 0.42 6.48% |
| Symbol | Westgold |
Westgold Resources Price To Book Ratio
Westgold Resources '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 Westgold Resources' 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 Westgold Resources.
| 12/23/2025 |
| 01/22/2026 |
If you would invest 0.00 in Westgold Resources on December 23, 2025 and sell it all today you would earn a total of 0.00 from holding Westgold Resources Limited or generate 0.0% return on investment in Westgold Resources over 30 days. Westgold Resources is related to or competes with Orla Mining, NovaGold Resources, K92 Mining, Torex Gold, Dundee Precious, NGEx Minerals, and Centerra Gold. Westgold Resources is entity of Canada. It is traded as Stock on TO exchange. More
Westgold Resources 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 Westgold Resources' 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 Westgold Resources Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.11 | |||
| Information Ratio | 0.1445 | |||
| Maximum Drawdown | 14.08 | |||
| Value At Risk | (4.82) | |||
| Potential Upside | 5.21 |
Westgold Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Westgold Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Westgold Resources' standard deviation. In reality, there are many statistical measures that can use Westgold Resources historical prices to predict the future Westgold Resources' volatility.| Risk Adjusted Performance | 0.1386 | |||
| Jensen Alpha | 0.465 | |||
| Total Risk Alpha | 0.1516 | |||
| Sortino Ratio | 0.1435 | |||
| Treynor Ratio | 0.6766 |
Westgold Resources Backtested Returns
Westgold Resources appears to be somewhat reliable, given 3 months investment horizon. Westgold Resources shows Sharpe Ratio of 0.24, which attests that the company had a 0.24 % return per unit of risk over the last 3 months. By examining Westgold Resources' technical indicators, you can evaluate if the expected return of 0.68% is justified by implied risk. Please utilize Westgold Resources' Market Risk Adjusted Performance of 0.6866, mean deviation of 2.39, and Downside Deviation of 3.11 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Westgold Resources holds a performance score of 19. The firm maintains a market beta of 0.8, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Westgold Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Westgold Resources is expected to be smaller as well. Please check Westgold Resources' skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Westgold Resources' historical returns will revert.
Auto-correlation | 0.36 |
Below average predictability
Westgold Resources Limited has below average predictability. Overlapping area represents the amount of predictability between Westgold Resources time series from 23rd of December 2025 to 7th of January 2026 and 7th of January 2026 to 22nd of January 2026. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Westgold Resources price movement. The serial correlation of 0.36 indicates that just about 36.0% of current Westgold Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.36 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Westgold Resources lagged returns against current returns
Autocorrelation, which is Westgold Resources 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 Westgold Resources' stock expected returns. We can calculate the autocorrelation of Westgold Resources returns to help us make a trade decision. For example, suppose you find that Westgold Resources 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 |
Westgold Resources 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 Westgold Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Westgold Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Westgold Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Westgold Resources Lagged Returns
When evaluating Westgold Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Westgold Resources stock have on its future price. Westgold Resources 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, Westgold Resources autocorrelation shows the relationship between Westgold Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Westgold Resources Limited.
Regressed Prices |
| Timeline |
Pair Trading with Westgold Resources
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 Westgold Resources 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 Westgold Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with Westgold Stock
| 0.85 | AEM | Agnico Eagle Mines | PairCorr |
| 0.95 | ABX | Barrick Gold Corp | PairCorr |
| 0.96 | WPM | Wheaton Precious Metals | PairCorr |
| 0.92 | FNV | Franco Nevada | PairCorr |
| 0.95 | K | Kinross Gold Corp | PairCorr |
Moving against Westgold Stock
The ability to find closely correlated positions to Westgold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Westgold Resources 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 Westgold Resources - 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 Westgold Resources Limited to buy it.
The correlation of Westgold Resources 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 Westgold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Westgold 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 Westgold Resources 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 Westgold Stock
Westgold Resources financial ratios help investors to determine whether Westgold 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 Westgold with respect to the benefits of owning Westgold Resources security.