Goldmoney Stock Market Value
| XAU Stock | CAD 8.18 0.02 0.25% |
| Symbol | GoldMoney |
GoldMoney Price To Book Ratio
GoldMoney '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 GoldMoney'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 GoldMoney.
| 02/29/2024 |
| 11/25/2024 |
If you would invest 0.00 in GoldMoney on February 29, 2024 and sell it all today you would earn a total of 0.00 from holding GoldMoney or generate 0.0% return on investment in GoldMoney over 270 days. GoldMoney is related to or competes with GoldMoney, Mene, Wesdome Gold, and GoldMining. Goldmoney Inc. operates as a precious metal focused investment company worldwide More
GoldMoney 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 GoldMoney'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 GoldMoney upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 13.86 | |||
| Value At Risk | (3.38) | |||
| Potential Upside | 3.12 |
GoldMoney Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for GoldMoney's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as GoldMoney's standard deviation. In reality, there are many statistical measures that can use GoldMoney historical prices to predict the future GoldMoney's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.15) |
GoldMoney Backtested Returns
GoldMoney holds Efficiency (Sharpe) Ratio of -0.11, which attests that the entity had a -0.11% return per unit of risk over the last 3 months. GoldMoney exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out GoldMoney's Market Risk Adjusted Performance of (0.14), standard deviation of 2.01, and Risk Adjusted Performance of (0.01) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.39, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, GoldMoney's returns are expected to increase less than the market. However, during the bear market, the loss of holding GoldMoney is expected to be smaller as well. At this point, GoldMoney has a negative expected return of -0.22%. Please make sure to check out GoldMoney's skewness, as well as the relationship between the rate of daily change and price action indicator , to decide if GoldMoney performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.36 |
Poor reverse predictability
GoldMoney has poor reverse predictability. Overlapping area represents the amount of predictability between GoldMoney time series from 29th of February 2024 to 13th of July 2024 and 13th of July 2024 to 25th 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 GoldMoney price movement. The serial correlation of -0.36 indicates that just about 36.0% of current GoldMoney price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.75 |
GoldMoney lagged returns against current returns
Autocorrelation, which is GoldMoney 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 GoldMoney's stock expected returns. We can calculate the autocorrelation of GoldMoney returns to help us make a trade decision. For example, suppose you find that GoldMoney 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 |
GoldMoney 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 GoldMoney stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if GoldMoney stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in GoldMoney stock over time.
Current vs Lagged Prices |
| Timeline |
GoldMoney Lagged Returns
When evaluating GoldMoney's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of GoldMoney stock have on its future price. GoldMoney 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, GoldMoney autocorrelation shows the relationship between GoldMoney stock current value and its past values and can show if there is a momentum factor associated with investing in GoldMoney.
Regressed Prices |
| Timeline |
Pair Trading with GoldMoney
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 GoldMoney 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 GoldMoney will appreciate offsetting losses from the drop in the long position's value.Moving against GoldMoney Stock
The ability to find closely correlated positions to GoldMoney could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoldMoney 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 GoldMoney - 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 GoldMoney to buy it.
The correlation of GoldMoney 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 GoldMoney moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoldMoney 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 GoldMoney 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 GoldMoney Stock
GoldMoney financial ratios help investors to determine whether GoldMoney 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 GoldMoney with respect to the benefits of owning GoldMoney security.