Entree Resources Stock Market Value
| ETG Stock | CAD 2.23 0.01 0.45% |
| Symbol | Entree |
Entree Resources Price To Book Ratio
Entree 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 Entree 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 Entree Resources.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Entree Resources on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Entree Resources or generate 0.0% return on investment in Entree Resources over 90 days. Entree Resources is related to or competes with Solitario Exploration, and Globex Mining. Entre Resources Ltd., an exploration stage company, engages in the exploration of mineral resource properties located in... More
Entree 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 Entree 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 Entree Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.0 | |||
| Information Ratio | 0.1517 | |||
| Maximum Drawdown | 21.71 | |||
| Value At Risk | (3.80) | |||
| Potential Upside | 6.76 |
Entree Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Entree Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Entree Resources' standard deviation. In reality, there are many statistical measures that can use Entree Resources historical prices to predict the future Entree Resources' volatility.| Risk Adjusted Performance | 0.1429 | |||
| Jensen Alpha | 0.6093 | |||
| Total Risk Alpha | 0.0905 | |||
| Sortino Ratio | 0.1797 | |||
| Treynor Ratio | 1.71 |
Entree Resources Backtested Returns
Entree Resources appears to be risky, given 3 months investment horizon. Entree Resources secures Sharpe Ratio (or Efficiency) of 0.17, which denotes the company had a 0.17% return per unit of risk over the last 3 months. By reviewing Entree Resources' technical indicators, you can evaluate if the expected return of 0.62% is justified by implied risk. Please utilize Entree Resources' Mean Deviation of 2.49, coefficient of variation of 535.33, and Downside Deviation of 3.0 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Entree Resources holds a performance score of 13. The firm shows a Beta (market volatility) of 0.38, which means possible diversification benefits within a given portfolio. As returns on the market increase, Entree Resources' returns are expected to increase less than the market. However, during the bear market, the loss of holding Entree Resources is expected to be smaller as well. Please check Entree Resources' expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to make a quick decision on whether Entree Resources' price patterns will revert.
Auto-correlation | 0.21 |
Weak predictability
Entree Resources has weak predictability. Overlapping area represents the amount of predictability between Entree Resources time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th of December 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 Entree Resources price movement. The serial correlation of 0.21 indicates that over 21.0% of current Entree Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Entree Resources lagged returns against current returns
Autocorrelation, which is Entree 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 Entree Resources' stock expected returns. We can calculate the autocorrelation of Entree Resources returns to help us make a trade decision. For example, suppose you find that Entree 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 |
Entree 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 Entree Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Entree Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Entree Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Entree Resources Lagged Returns
When evaluating Entree Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Entree Resources stock have on its future price. Entree 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, Entree Resources autocorrelation shows the relationship between Entree Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Entree Resources.
Regressed Prices |
| Timeline |
Pair Trading with Entree Resources
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 Entree Resources 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 Entree Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Entree Stock
| 0.59 | NG | NovaGold Resources | PairCorr |
| 0.41 | INFM | Infinico Metals Corp | PairCorr |
| 0.33 | HPQ | HPQ Silicon Resources | PairCorr |
The ability to find closely correlated positions to Entree Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Entree Resources 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 Entree Resources - 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 Entree Resources to buy it.
The correlation of Entree Resources 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 Entree Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Entree Resources 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 Entree Resources 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 Entree Stock
Entree Resources financial ratios help investors to determine whether Entree 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 Entree with respect to the benefits of owning Entree Resources security.