Major Drilling's market value is the price at which a share of Major Drilling trades on a public exchange. It measures the collective expectations of Major Drilling Group investors about its performance. Major Drilling is trading at 6.14 as of the 2nd of May 2025. This is a 2.54 percent decrease since the beginning of the trading day. The stock's lowest day price was 6.14. With this module, you can estimate the performance of a buy and hold strategy of Major Drilling Group and determine expected loss or profit from investing in Major Drilling over a given investment horizon. Check out Major Drilling Correlation, Major Drilling Volatility and Major Drilling Alpha and Beta module to complement your research on Major Drilling.
Please note, there is a significant difference between Major Drilling's value and its price as these two are different measures arrived at by different means. Investors typically determine if Major Drilling is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Major Drilling's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Major Drilling '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 Major Drilling's pink sheet 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 Major Drilling.
0.00
02/01/2025
No Change 0.00
0.0
In 3 months and 1 day
05/02/2025
0.00
If you would invest 0.00 in Major Drilling on February 1, 2025 and sell it all today you would earn a total of 0.00 from holding Major Drilling Group or generate 0.0% return on investment in Major Drilling over 90 days. Major Drilling is related to or competes with Geodrill, and Macmahon Holdings. Major Drilling Group International Inc. provides contract drilling services for mining and mineral exploration companies More
Major Drilling 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 Major Drilling's pink sheet 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 Major Drilling Group upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Major Drilling's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Major Drilling's standard deviation. In reality, there are many statistical measures that can use Major Drilling historical prices to predict the future Major Drilling's volatility.
Major Drilling appears to be moderately volatile, given 3 months investment horizon. Major Drilling Group has Sharpe Ratio of 0.0636, which conveys that the firm had a 0.0636 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Major Drilling, which you can use to evaluate the volatility of the firm. Please exercise Major Drilling's Risk Adjusted Performance of 0.0806, mean deviation of 2.34, and Downside Deviation of 4.44 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Major Drilling holds a performance score of 5. The company secures a Beta (Market Risk) of 0.0395, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Major Drilling's returns are expected to increase less than the market. However, during the bear market, the loss of holding Major Drilling is expected to be smaller as well. Please check Major Drilling's jensen alpha, potential upside, daily balance of power, as well as the relationship between the treynor ratio and expected short fall , to make a quick decision on whether Major Drilling's current price movements will revert.
Auto-correlation
-0.63
Very good reverse predictability
Major Drilling Group has very good reverse predictability. Overlapping area represents the amount of predictability between Major Drilling time series from 1st of February 2025 to 18th of March 2025 and 18th of March 2025 to 2nd of May 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Major Drilling Group price movement. The serial correlation of -0.63 indicates that roughly 63.0% of current Major Drilling price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.63
Spearman Rank Test
-0.49
Residual Average
0.0
Price Variance
0.19
Major Drilling Group lagged returns against current returns
Autocorrelation, which is Major Drilling pink sheet'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 Major Drilling's pink sheet expected returns. We can calculate the autocorrelation of Major Drilling returns to help us make a trade decision. For example, suppose you find that Major Drilling has exhibited high autocorrelation historically, and you observe that the pink sheet 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
Major Drilling 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 Major Drilling pink sheet is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Major Drilling pink sheet is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Major Drilling pink sheet over time.
Current vs Lagged Prices
Timeline
Major Drilling Lagged Returns
When evaluating Major Drilling's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Major Drilling pink sheet have on its future price. Major Drilling 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, Major Drilling autocorrelation shows the relationship between Major Drilling pink sheet current value and its past values and can show if there is a momentum factor associated with investing in Major Drilling Group.
Other Information on Investing in Major Pink Sheet
Major Drilling financial ratios help investors to determine whether Major Pink Sheet 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 Major with respect to the benefits of owning Major Drilling security.