Orezone Gold Corp Stock Market Value
| ORE Stock | 0.64 0.02 3.03% |
| Symbol | Orezone |
Orezone Gold Corp Price To Book Ratio
Orezone 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 Orezone 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 Orezone Gold.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Orezone Gold on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Orezone Gold Corp or generate 0.0% return on investment in Orezone Gold over 30 days. Orezone Gold is related to or competes with I 80, Perseus Mining, K92 Mining, and GoGold Resources. Orezone Gold Corporationration engages in the investigation, acquisition, exploration, and development of gold projects in Burkina Faso, West Africa. More
Orezone 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 Orezone 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 Orezone Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 18.09 | |||
| Value At Risk | (6.49) | |||
| Potential Upside | 6.06 |
Orezone Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Orezone Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Orezone Gold's standard deviation. In reality, there are many statistical measures that can use Orezone Gold historical prices to predict the future Orezone Gold's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.12) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (2.27) |
Orezone Gold Corp Backtested Returns
Orezone Gold Corp maintains Sharpe Ratio (i.e., Efficiency) of -0.0468, which implies the firm had a -0.0468% return per unit of risk over the last 3 months. Orezone Gold Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Orezone Gold's Variance of 14.67, coefficient of variation of (3,606), and Risk Adjusted Performance of (0.01) to confirm the risk estimate we provide. The company holds a Beta of 0.0513, which implies not very significant fluctuations relative to the market. As returns on the market increase, Orezone Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Orezone Gold is expected to be smaller as well. At this point, Orezone Gold Corp has a negative expected return of -0.18%. Please make sure to check Orezone Gold's treynor ratio and the relationship between the skewness and price action indicator , to decide if Orezone Gold Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.12 |
Insignificant reverse predictability
Orezone Gold Corp has insignificant reverse predictability. Overlapping area represents the amount of predictability between Orezone Gold time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Orezone Gold Corp price movement. The serial correlation of -0.12 indicates that less than 12.0% of current Orezone Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.12 | |
| Spearman Rank Test | 0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Orezone Gold Corp lagged returns against current returns
Autocorrelation, which is Orezone 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 Orezone Gold's stock expected returns. We can calculate the autocorrelation of Orezone Gold returns to help us make a trade decision. For example, suppose you find that Orezone 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 |
Orezone 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 Orezone Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Orezone Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Orezone Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Orezone Gold Lagged Returns
When evaluating Orezone Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Orezone Gold stock have on its future price. Orezone 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, Orezone Gold autocorrelation shows the relationship between Orezone Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Orezone Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with Orezone 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 Orezone 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 Orezone Gold will appreciate offsetting losses from the drop in the long position's value.Moving against Orezone Stock
| 0.66 | JPM | JPMorgan Chase | PairCorr |
| 0.62 | BOFA | Bank of America | PairCorr |
| 0.6 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.6 | GS | GOLDMAN SACHS CDR | PairCorr |
| 0.45 | WMT | Walmart Inc CDR | PairCorr |
The ability to find closely correlated positions to Orezone 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 Orezone 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 Orezone 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 Orezone Gold Corp to buy it.
The correlation of Orezone 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 Orezone Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orezone Gold Corp 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 Orezone 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 Orezone Stock
Orezone Gold financial ratios help investors to determine whether Orezone 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 Orezone with respect to the benefits of owning Orezone Gold security.