Eldorado Gold Corp Stock Market Value
| EGO Stock | USD 15.88 0.18 1.15% |
| Symbol | Eldorado |
Eldorado Gold Corp Price To Book Ratio
Is Metals & Mining space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Eldorado Gold. If investors know Eldorado will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Eldorado Gold listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 55.667 | Earnings Share 1.43 | Revenue Per Share 5.868 | Quarterly Revenue Growth 0.355 | Return On Assets 0.0386 |
The market value of Eldorado Gold Corp is measured differently than its book value, which is the value of Eldorado that is recorded on the company's balance sheet. Investors also form their own opinion of Eldorado Gold's value that differs from its market value or its book value, called intrinsic value, which is Eldorado Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Eldorado Gold's market value can be influenced by many factors that don't directly affect Eldorado Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eldorado Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eldorado Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eldorado Gold'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.
Eldorado 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 Eldorado 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 Eldorado Gold.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Eldorado Gold on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Eldorado Gold Corp or generate 0.0% return on investment in Eldorado Gold over 60 days. Eldorado Gold is related to or competes with Franco Nevada, Osisko Gold, Sandstorm Gold, Royal Gold, Fortuna Silver, Alamos Gold, and Gold Fields. Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of ... More
Eldorado 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 Eldorado 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 Eldorado Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 12.12 | |||
| Value At Risk | (5.22) | |||
| Potential Upside | 3.39 |
Eldorado Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eldorado Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eldorado Gold's standard deviation. In reality, there are many statistical measures that can use Eldorado Gold historical prices to predict the future Eldorado Gold's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.53) | |||
| Treynor Ratio | (0.55) |
Eldorado Gold Corp Backtested Returns
Eldorado Gold Corp secures Sharpe Ratio (or Efficiency) of -0.0383, which denotes the company had a -0.0383% return per unit of standard deviation over the last 3 months. Eldorado Gold Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eldorado Gold's Mean Deviation of 1.92, standard deviation of 2.54, and Coefficient Of Variation of (1,875) to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.26, which means not very significant fluctuations relative to the market. As returns on the market increase, Eldorado Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding Eldorado Gold is expected to be smaller as well. At this point, Eldorado Gold Corp has a negative expected return of -0.0985%. Please make sure to confirm Eldorado Gold's value at risk, and the relationship between the jensen alpha and accumulation distribution , to decide if Eldorado Gold Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.21 |
Weak reverse predictability
Eldorado Gold Corp has weak reverse predictability. Overlapping area represents the amount of predictability between Eldorado Gold time series from 29th of September 2024 to 29th of October 2024 and 29th of October 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 Eldorado Gold Corp price movement. The serial correlation of -0.21 indicates that over 21.0% of current Eldorado Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.21 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 0.59 |
Eldorado Gold Corp lagged returns against current returns
Autocorrelation, which is Eldorado 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 Eldorado Gold's stock expected returns. We can calculate the autocorrelation of Eldorado Gold returns to help us make a trade decision. For example, suppose you find that Eldorado 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 |
Eldorado 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 Eldorado Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eldorado Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eldorado Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Eldorado Gold Lagged Returns
When evaluating Eldorado Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eldorado Gold stock have on its future price. Eldorado 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, Eldorado Gold autocorrelation shows the relationship between Eldorado Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Eldorado Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with Eldorado 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 Eldorado 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 Eldorado Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Eldorado Stock
Moving against Eldorado Stock
The ability to find closely correlated positions to Eldorado 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 Eldorado 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 Eldorado 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 Eldorado Gold Corp to buy it.
The correlation of Eldorado 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 Eldorado Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eldorado 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 Eldorado 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.Check out Eldorado Gold Correlation, Eldorado Gold Volatility and Eldorado Gold Alpha and Beta module to complement your research on Eldorado Gold. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Eldorado 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.