Wesdome Gold Mines Stock Market Value
| WDO Stock | CAD 10.42 0.12 1.17% |
| Symbol | Wesdome |
Wesdome Gold Mines Price To Book Ratio
Wesdome 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 Wesdome 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 Wesdome Gold.
| 04/02/2024 |
| 05/02/2024 |
If you would invest 0.00 in Wesdome Gold on April 2, 2024 and sell it all today you would earn a total of 0.00 from holding Wesdome Gold Mines or generate 0.0% return on investment in Wesdome Gold over 30 days. Wesdome Gold is related to or competes with OceanaGold, Torex Gold, Osisko Mining, Alamos Gold, and Dundee Precious. Wesdome Gold Mines Ltd. engages in the exploration, extraction, processing, and reclamation of gold in Canada More
Wesdome 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 Wesdome 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 Wesdome Gold Mines upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.7 | |||
| Information Ratio | 0.1529 | |||
| Maximum Drawdown | 15.24 | |||
| Value At Risk | (4.27) | |||
| Potential Upside | 4.78 |
Wesdome Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wesdome Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wesdome Gold's standard deviation. In reality, there are many statistical measures that can use Wesdome Gold historical prices to predict the future Wesdome Gold's volatility.| Risk Adjusted Performance | 0.1197 | |||
| Jensen Alpha | 0.393 | |||
| Total Risk Alpha | 0.2562 | |||
| Sortino Ratio | 0.1546 | |||
| Treynor Ratio | 0.314 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Wesdome Gold's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Wesdome Gold Mines Backtested Returns
Wesdome Gold appears to be somewhat reliable, given 3 months investment horizon. Wesdome Gold Mines shows Sharpe Ratio of 0.12, which attests that the company had a 0.12% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Wesdome Gold Mines, which you can use to evaluate the volatility of the company. Please utilize Wesdome Gold's Market Risk Adjusted Performance of 0.324, mean deviation of 2.04, and Downside Deviation of 2.7 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Wesdome Gold holds a performance score of 9. The firm maintains a market beta of 1.49, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Wesdome Gold will likely underperform. Please check Wesdome Gold's skewness, and the relationship between the potential upside and rate of daily change , to make a quick decision on whether Wesdome Gold's historical returns will revert.
Auto-correlation | -0.46 |
Modest reverse predictability
Wesdome Gold Mines has modest reverse predictability. Overlapping area represents the amount of predictability between Wesdome Gold time series from 2nd of April 2024 to 17th of April 2024 and 17th of April 2024 to 2nd of May 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 Wesdome Gold Mines price movement. The serial correlation of -0.46 indicates that about 46.0% of current Wesdome Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.46 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Wesdome Gold Mines lagged returns against current returns
Autocorrelation, which is Wesdome 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 Wesdome Gold's stock expected returns. We can calculate the autocorrelation of Wesdome Gold returns to help us make a trade decision. For example, suppose you find that Wesdome 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 |
Wesdome 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 Wesdome Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wesdome Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wesdome Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Wesdome Gold Lagged Returns
When evaluating Wesdome Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wesdome Gold stock have on its future price. Wesdome 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, Wesdome Gold autocorrelation shows the relationship between Wesdome Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Wesdome Gold Mines.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Wesdome Gold in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Wesdome Gold's short interest history, or implied volatility extrapolated from Wesdome Gold options trading.
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.| MSFT | Microsoft | |
| CRM | Salesforce | |
| GOOG | Alphabet Inc Class C |
Check out Wesdome Gold Correlation, Wesdome Gold Volatility and Wesdome Gold Alpha and Beta module to complement your research on Wesdome Gold. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
Complementary Tools for Wesdome Stock analysis
When running Wesdome Gold's price analysis, check to measure Wesdome Gold's 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 Wesdome Gold is operating at the current time. Most of Wesdome Gold's value examination focuses on studying past and present price action to predict the probability of Wesdome Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Wesdome Gold's price. Additionally, you may evaluate how the addition of Wesdome Gold to your portfolios can decrease your overall portfolio volatility.
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |
Wesdome Gold technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.