Xtra Gold Resources Corp Stock Market Value
| XTG Stock | CAD 1.81 0.02 1.12% |
| Symbol | Xtra |
Xtra Gold Resources Price To Book Ratio
Xtra 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 Xtra 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 Xtra Gold.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Xtra Gold on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Xtra Gold Resources Corp or generate 0.0% return on investment in Xtra Gold over 720 days. Xtra Gold is related to or competes with Algoma Steel, Champion Iron, European Residential, Financial, Rubicon Organics, Linamar, and Amazon CDR. Xtra-Gold Resources Corp. engages in the exploration and development of gold properties in Ghana, West Africa More
Xtra 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 Xtra 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 Xtra Gold Resources Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.14 | |||
| Information Ratio | 0.1134 | |||
| Maximum Drawdown | 15.96 | |||
| Value At Risk | (4.46) | |||
| Potential Upside | 4.51 |
Xtra Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Xtra Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Xtra Gold's standard deviation. In reality, there are many statistical measures that can use Xtra Gold historical prices to predict the future Xtra Gold's volatility.| Risk Adjusted Performance | 0.1332 | |||
| Jensen Alpha | 0.3823 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | 0.0965 | |||
| Treynor Ratio | 1.13 |
Xtra Gold Resources Backtested Returns
Xtra Gold appears to be very risky, given 3 months investment horizon. Xtra Gold Resources shows Sharpe Ratio of 0.18, which attests that the company had a 0.18% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Xtra Gold Resources, which you can use to evaluate the volatility of the company. Please utilize Xtra Gold's Downside Deviation of 3.14, market risk adjusted performance of 1.14, and Mean Deviation of 1.91 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Xtra Gold holds a performance score of 14. The firm maintains a market beta of 0.38, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Xtra Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Xtra Gold is expected to be smaller as well. Please check Xtra Gold's skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Xtra Gold's historical returns will revert.
Auto-correlation | -0.21 |
Weak reverse predictability
Xtra Gold Resources Corp has weak reverse predictability. Overlapping area represents the amount of predictability between Xtra Gold time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 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 Xtra Gold Resources price movement. The serial correlation of -0.21 indicates that over 21.0% of current Xtra Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 0.05 |
Xtra Gold Resources lagged returns against current returns
Autocorrelation, which is Xtra 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 Xtra Gold's stock expected returns. We can calculate the autocorrelation of Xtra Gold returns to help us make a trade decision. For example, suppose you find that Xtra 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 |
Xtra 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 Xtra Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Xtra Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Xtra Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Xtra Gold Lagged Returns
When evaluating Xtra Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Xtra Gold stock have on its future price. Xtra 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, Xtra Gold autocorrelation shows the relationship between Xtra Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Xtra Gold Resources Corp.
Regressed Prices |
| Timeline |
Pair Trading with Xtra 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 Xtra 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 Xtra Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Xtra Stock
Moving against Xtra Stock
The ability to find closely correlated positions to Xtra 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 Xtra 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 Xtra 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 Xtra Gold Resources Corp to buy it.
The correlation of Xtra 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 Xtra Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xtra 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 Xtra 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 Xtra Stock
Xtra Gold financial ratios help investors to determine whether Xtra 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 Xtra with respect to the benefits of owning Xtra Gold security.