Eldorado Price Book Value Ratio from 2010 to 2024
| ELD Stock | CAD 23.18 0.09 0.39% |
Price Book Value Ratio | First Reported 2010-12-31 | Previous Quarter 0.71685331 | Current Value 0.68 | Quarterly Volatility 0.67451772 |
Check Eldorado Gold financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Eldorado Gold's main balance sheet or income statement drivers, such as Depreciation And Amortization of 277.5 M, Interest Expense of 32 M or Selling General Administrative of 40.4 M, as well as many indicators such as Price To Sales Ratio of 2.38, Dividend Yield of 0.0054 or PTB Ratio of 0.68. Eldorado financial statements analysis is a perfect complement when working with Eldorado Gold Valuation or Volatility modules.
Eldorado | Price Book Value Ratio |
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 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 the analysis of Eldorado Gold Correlation against competitors. You can also try the Volatility Analysis module to get historical volatility and risk analysis based on latest market data.