Zincx Resources Corp Stock Market Value
| ZNX Stock | CAD 0.08 0.01 11.11% |
| Symbol | ZincX |
ZincX 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 ZincX 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 ZincX Resources.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in ZincX Resources on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding ZincX Resources Corp or generate 0.0% return on investment in ZincX Resources over 30 days. ZincX Resources is related to or competes with Kiplin Metals, Pure Energy, and Noram Lithium. ZincX Resources Corp. explores for and evaluates mineral resource properties in Canada More
ZincX 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 ZincX 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 ZincX Resources Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 23.61 | |||
| Value At Risk | (10.00) | |||
| Potential Upside | 11.11 |
ZincX Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ZincX Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ZincX Resources' standard deviation. In reality, there are many statistical measures that can use ZincX Resources historical prices to predict the future ZincX Resources' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.80) | |||
| Treynor Ratio | 0.2127 |
ZincX Resources Corp Backtested Returns
ZincX Resources Corp shows Sharpe Ratio of -0.0322, which attests that the company had a -0.0322% return per unit of risk over the last 3 months. ZincX Resources Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out ZincX Resources' Mean Deviation of 1.6, market risk adjusted performance of 0.2227, and Standard Deviation of 4.17 to validate the risk estimate we provide. The firm maintains a market beta of -0.48, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning ZincX Resources are expected to decrease at a much lower rate. During the bear market, ZincX Resources is likely to outperform the market. At this point, ZincX Resources Corp has a negative expected return of -0.12%. Please make sure to check out ZincX Resources' treynor ratio, daily balance of power, as well as the relationship between the Daily Balance Of Power and period momentum indicator , to decide if ZincX Resources Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.00 |
No correlation between past and present
ZincX Resources Corp has no correlation between past and present. Overlapping area represents the amount of predictability between ZincX Resources time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 ZincX Resources Corp price movement. The serial correlation of 0.0 indicates that just 0.0% of current ZincX Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
ZincX Resources Corp lagged returns against current returns
Autocorrelation, which is ZincX 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 ZincX Resources' stock expected returns. We can calculate the autocorrelation of ZincX Resources returns to help us make a trade decision. For example, suppose you find that ZincX 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 |
ZincX 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 ZincX Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ZincX Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ZincX Resources stock over time.
Current vs Lagged Prices |
| Timeline |
ZincX Resources Lagged Returns
When evaluating ZincX Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ZincX Resources stock have on its future price. ZincX 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, ZincX Resources autocorrelation shows the relationship between ZincX Resources stock current value and its past values and can show if there is a momentum factor associated with investing in ZincX Resources Corp.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for ZincX Stock Analysis
When running ZincX Resources' price analysis, check to measure ZincX Resources' 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 ZincX Resources is operating at the current time. Most of ZincX Resources' value examination focuses on studying past and present price action to predict the probability of ZincX Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ZincX Resources' price. Additionally, you may evaluate how the addition of ZincX Resources to your portfolios can decrease your overall portfolio volatility.