Eloro Resources Stock Market Value
| ELO Stock | 2.64 0.07 2.72% |
| Symbol | Eloro |
Eloro Resources Price To Book Ratio
Eloro 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 Eloro 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 Eloro Resources.
| 01/12/2023 |
| 12/27/2025 |
If you would invest 0.00 in Eloro Resources on January 12, 2023 and sell it all today you would earn a total of 0.00 from holding Eloro Resources or generate 0.0% return on investment in Eloro Resources over 1080 days. Eloro Resources is related to or competes with Orosur Mining, Aris Gold, Soma Gold, Minaurum Gold, Galane Gold, Orogen Royalties, and Argonaut Exploration. Eloro Resources is entity of Canada. It is traded as Stock on TO exchange. More
Eloro 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 Eloro 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 Eloro Resources upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.56 | |||
| Information Ratio | 0.2098 | |||
| Maximum Drawdown | 36.15 | |||
| Value At Risk | (8.02) | |||
| Potential Upside | 13.29 |
Eloro Resources Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eloro Resources' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eloro Resources' standard deviation. In reality, there are many statistical measures that can use Eloro Resources historical prices to predict the future Eloro Resources' volatility.| Risk Adjusted Performance | 0.1653 | |||
| Jensen Alpha | 1.33 | |||
| Total Risk Alpha | 0.7795 | |||
| Sortino Ratio | 0.2966 | |||
| Treynor Ratio | 1.02 |
Eloro Resources Backtested Returns
Eloro Resources appears to be dangerous, given 3 months investment horizon. Eloro 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 Eloro Resources' technical indicators, you can evaluate if the expected return of 0.98% is justified by implied risk. Please utilize Eloro Resources' Downside Deviation of 4.56, coefficient of variation of 449.88, and Mean Deviation of 4.56 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Eloro Resources holds a performance score of 13. The firm shows a Beta (market volatility) of 1.39, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Eloro Resources will likely underperform. Please check Eloro Resources' sortino ratio, skewness, price action indicator, as well as the relationship between the potential upside and rate of daily change , to make a quick decision on whether Eloro Resources' price patterns will revert.
Auto-correlation | 0.03 |
Virtually no predictability
Eloro Resources has virtually no predictability. Overlapping area represents the amount of predictability between Eloro Resources time series from 12th of January 2023 to 5th of July 2024 and 5th of July 2024 to 27th of December 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 Eloro Resources price movement. The serial correlation of 0.03 indicates that only 3.0% of current Eloro Resources price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.03 | |
| Spearman Rank Test | 0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Eloro Resources lagged returns against current returns
Autocorrelation, which is Eloro 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 Eloro Resources' stock expected returns. We can calculate the autocorrelation of Eloro Resources returns to help us make a trade decision. For example, suppose you find that Eloro 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 |
Eloro 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 Eloro Resources stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eloro Resources stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eloro Resources stock over time.
Current vs Lagged Prices |
| Timeline |
Eloro Resources Lagged Returns
When evaluating Eloro Resources' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eloro Resources stock have on its future price. Eloro 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, Eloro Resources autocorrelation shows the relationship between Eloro Resources stock current value and its past values and can show if there is a momentum factor associated with investing in Eloro Resources.
Regressed Prices |
| Timeline |
Pair Trading with Eloro 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 Eloro 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 Eloro Resources will appreciate offsetting losses from the drop in the long position's value.Moving together with Eloro Stock
| 0.91 | AG | First Majestic Silver | PairCorr |
| 0.91 | ORE | Orezone Gold Corp | PairCorr |
| 0.67 | FDY | Faraday Copper Corp | PairCorr |
Moving against Eloro Stock
The ability to find closely correlated positions to Eloro 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 Eloro 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 Eloro 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 Eloro Resources to buy it.
The correlation of Eloro 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 Eloro Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eloro 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 Eloro 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 Eloro Stock
Eloro Resources financial ratios help investors to determine whether Eloro 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 Eloro with respect to the benefits of owning Eloro Resources security.