Ero Copper Corp Stock Market Value
| ERO Stock | CAD 21.79 0.41 1.85% |
| Symbol | Ero |
Ero Copper Corp Price To Book Ratio
Ero Copper '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 Ero Copper'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 Ero Copper.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Ero Copper on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Ero Copper Corp or generate 0.0% return on investment in Ero Copper over 30 days. Ero Copper is related to or competes with SSR Mining, MAG Silver, Torex Gold, Pan American, and Interfor Corp. Ero Copper Corp., a base metals mining company, focuses on the production and sale of copper in Brazil More
Ero Copper 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 Ero Copper'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 Ero Copper Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 14.95 | |||
| Value At Risk | (4.35) | |||
| Potential Upside | 4.79 |
Ero Copper Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ero Copper's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ero Copper's standard deviation. In reality, there are many statistical measures that can use Ero Copper historical prices to predict the future Ero Copper's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.21) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | 0.3889 |
Ero Copper Corp Backtested Returns
Ero Copper Corp secures Sharpe Ratio (or Efficiency) of -0.15, which denotes the company had a -0.15% return per unit of risk over the last 3 months. Ero Copper Corp exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Ero Copper's Variance of 8.31, mean deviation of 2.25, and Standard Deviation of 2.88 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.73, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Ero Copper are expected to decrease at a much lower rate. During the bear market, Ero Copper is likely to outperform the market. At this point, Ero Copper Corp has a negative expected return of -0.44%. Please make sure to confirm Ero Copper's maximum drawdown, as well as the relationship between the accumulation distribution and day typical price , to decide if Ero Copper Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.50 |
Modest predictability
Ero Copper Corp has modest predictability. Overlapping area represents the amount of predictability between Ero Copper time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Ero Copper Corp price movement. The serial correlation of 0.5 indicates that about 50.0% of current Ero Copper price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 0.98 |
Ero Copper Corp lagged returns against current returns
Autocorrelation, which is Ero Copper 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 Ero Copper's stock expected returns. We can calculate the autocorrelation of Ero Copper returns to help us make a trade decision. For example, suppose you find that Ero Copper 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 |
Ero Copper 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 Ero Copper stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ero Copper stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ero Copper stock over time.
Current vs Lagged Prices |
| Timeline |
Ero Copper Lagged Returns
When evaluating Ero Copper's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ero Copper stock have on its future price. Ero Copper 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, Ero Copper autocorrelation shows the relationship between Ero Copper stock current value and its past values and can show if there is a momentum factor associated with investing in Ero Copper Corp.
Regressed Prices |
| Timeline |
Pair Trading with Ero Copper
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 Ero Copper 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 Ero Copper will appreciate offsetting losses from the drop in the long position's value.Moving together with Ero Stock
Moving against Ero Stock
| 0.67 | TSLA | Tesla Inc CDR | PairCorr |
| 0.6 | AMZN | Amazon CDR | PairCorr |
| 0.6 | WMT | Walmart Inc CDR | PairCorr |
| 0.51 | NVDA | NVIDIA CDR | PairCorr |
| 0.48 | GOOG | Alphabet CDR | PairCorr |
The ability to find closely correlated positions to Ero Copper could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ero Copper 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 Ero Copper - 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 Ero Copper Corp to buy it.
The correlation of Ero Copper 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 Ero Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ero Copper 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 Ero Copper 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 Ero Copper Correlation, Ero Copper Volatility and Ero Copper Alpha and Beta module to complement your research on Ero Copper. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Ero Copper 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.