Equinox Gold Correlations
| EQX Stock | CAD 8.10 0.04 0.50% |
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.
Modest diversification
The correlation between Equinox Gold Corp and NYA is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equinox Gold Corp and NYA in the same portfolio, assuming nothing else is changed.
Equinox |
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.
Moving together with Equinox Stock
| 0.79 | RY-PS | Royal Bank | PairCorr |
| 0.83 | RY | Royal Bank | PairCorr |
| 0.9 | RY-PM | Royal Bank | PairCorr |
| 0.87 | TD-PFL | Toronto Dominion Bank | PairCorr |
| 0.86 | TD-PFM | Toronto Dominion Bank | PairCorr |
| 0.76 | BNS | Bank of Nova Scotia | PairCorr |
| 0.9 | TD-PFD | Toronto Dominion Bank | PairCorr |
Related Correlations Analysis
| 0.88 | -0.16 | 0.96 | 0.92 | SSL | ||
| 0.88 | -0.18 | 0.88 | 0.97 | PAAS | ||
| -0.16 | -0.18 | -0.24 | -0.19 | SSRM | ||
| 0.96 | 0.88 | -0.24 | 0.93 | SIL | ||
| 0.92 | 0.97 | -0.19 | 0.93 | FVI | ||
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Equinox Stock performing well and Equinox Gold Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Equinox Gold's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SSL | 1.80 | 0.13 | 0.07 | 0.13 | 2.19 | 3.56 | 11.78 | |||
| PAAS | 2.15 | 0.31 | 0.15 | 0.21 | 2.13 | 4.81 | 9.53 | |||
| SSRM | 2.91 | (0.85) | 0.00 | (0.15) | 0.00 | 4.98 | 57.62 | |||
| SIL | 2.06 | 0.20 | 0.09 | 0.17 | 2.27 | 5.81 | 13.51 | |||
| FVI | 2.46 | 0.30 | 0.12 | 0.22 | 2.63 | 5.31 | 15.83 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Equinox Gold without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Equinox Gold Corporate Executives
Elected by the shareholders, the Equinox Gold's board of directors comprises two types of representatives: Equinox Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Equinox. The board's role is to monitor Equinox Gold's management team and ensure that shareholders' interests are well served. Equinox Gold's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Equinox Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Peter Hardie | Chief Financial Officer | Profile | |
| James Currie | Chief Operating Officer | Profile | |
| Adriaan Roux | Chief Operating Officer | Profile |
Already Invested in Equinox Gold Corp?
The danger of trading Equinox Gold Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Equinox Gold is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Equinox Gold. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Equinox Gold Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Equinox Gold Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Equinox Gold's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Equinox Gold Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Equinox Gold Corp Stock: Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Equinox Gold Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Complementary Tools for Equinox Stock analysis
When running Equinox Gold's price analysis, check to measure Equinox Gold's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Equinox Gold is operating at the current time. Most of Equinox Gold's value examination focuses on studying past and present price action to predict the probability of Equinox Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Equinox Gold's price. Additionally, you may evaluate how the addition of Equinox Gold to your portfolios can decrease your overall portfolio volatility.
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