Equinox Gold Corp Stock Market Value
| EQX Stock | CAD 8.00 0.34 4.44% |
| Symbol | Equinox |
Equinox Gold Corp Price To Book Ratio
Equinox 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 Equinox 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 Equinox Gold.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Equinox Gold on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding Equinox Gold Corp or generate 0.0% return on investment in Equinox Gold over 180 days. Equinox Gold is related to or competes with Sandstorm Gold, Pan American, SSR Mining, SilverCrest Metals, and Fortuna Silver. Equinox Gold Corp. engages in the acquisition, exploration, and development of mineral deposits More
Equinox 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 Equinox 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 Equinox Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.13 | |||
| Information Ratio | (0.0004) | |||
| Maximum Drawdown | 17.53 | |||
| Value At Risk | (4.93) | |||
| Potential Upside | 5.21 |
Equinox Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Equinox Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Equinox Gold's standard deviation. In reality, there are many statistical measures that can use Equinox Gold historical prices to predict the future Equinox Gold's volatility.| Risk Adjusted Performance | 0.0321 | |||
| Jensen Alpha | 0.128 | |||
| Total Risk Alpha | (0.34) | |||
| Sortino Ratio | (0.0004) | |||
| Treynor Ratio | (0.33) |
Equinox Gold Corp Backtested Returns
As of now, Equinox Stock is slightly risky. Equinox Gold Corp secures Sharpe Ratio (or Efficiency) of 0.0177, which denotes the company had a 0.0177% return per unit of risk over the last 3 months. We have found thirty technical indicators for Equinox Gold Corp, which you can use to evaluate the volatility of the firm. Please confirm Equinox Gold's Downside Deviation of 3.13, coefficient of variation of 3139.0, and Mean Deviation of 2.52 to check if the risk estimate we provide is consistent with the expected return of 0.0599%. Equinox Gold has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.3, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Equinox Gold are expected to decrease at a much lower rate. During the bear market, Equinox Gold is likely to outperform the market. Equinox Gold Corp right now shows a risk of 3.39%. Please confirm Equinox Gold Corp expected short fall, and the relationship between the value at risk and daily balance of power , to decide if Equinox Gold Corp will be following its price patterns.
Auto-correlation | 0.02 |
Virtually no predictability
Equinox Gold Corp has virtually no predictability. Overlapping area represents the amount of predictability between Equinox Gold time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd 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 Equinox Gold Corp price movement. The serial correlation of 0.02 indicates that only 2.0% of current Equinox Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Equinox Gold Corp lagged returns against current returns
Autocorrelation, which is Equinox 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 Equinox Gold's stock expected returns. We can calculate the autocorrelation of Equinox Gold returns to help us make a trade decision. For example, suppose you find that Equinox 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 |
Equinox 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 Equinox Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Equinox Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Equinox Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Equinox Gold Lagged Returns
When evaluating Equinox Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Equinox Gold stock have on its future price. Equinox 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, Equinox Gold autocorrelation shows the relationship between Equinox Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Equinox Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with Equinox 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 Equinox 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 Equinox Gold will appreciate offsetting losses from the drop in the long position's value.Moving against Equinox Stock
The ability to find closely correlated positions to Equinox 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 Equinox 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 Equinox 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 Equinox Gold Corp to buy it.
The correlation of Equinox 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 Equinox Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Equinox 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 Equinox 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 Equinox Gold Correlation, Equinox Gold Volatility and Equinox Gold Alpha and Beta module to complement your research on Equinox Gold. You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Equinox 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.