Endurance Gold Corp Stock Market Value
| EDG Stock | CAD 0.15 0.02 11.76% |
| Symbol | Endurance |
Endurance Gold Corp Price To Book Ratio
Endurance 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 Endurance 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 Endurance Gold.
| 04/01/2024 |
| 05/01/2024 |
If you would invest 0.00 in Endurance Gold on April 1, 2024 and sell it all today you would earn a total of 0.00 from holding Endurance Gold Corp or generate 0.0% return on investment in Endurance Gold over 30 days. Endurance Gold is related to or competes with Dynasty Gold, and Carlin Gold. Endurance Gold Corporation explores for and develops mineral properties in North America More
Endurance 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 Endurance 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 Endurance Gold Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 29.67 | |||
| Value At Risk | (11.76) | |||
| Potential Upside | 8.33 |
Endurance Gold Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Endurance Gold's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Endurance Gold's standard deviation. In reality, there are many statistical measures that can use Endurance Gold historical prices to predict the future Endurance Gold's volatility.| Risk Adjusted Performance | 0.0076 | |||
| Jensen Alpha | 0.1215 | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | 0.0076 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Endurance Gold's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Endurance Gold Corp Backtested Returns
Endurance Gold Corp secures Sharpe Ratio (or Efficiency) of -0.003, which denotes the company had a -0.003% return per unit of standard deviation over the last 3 months. Endurance Gold Corp exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Endurance Gold's Coefficient Of Variation of (49,028), standard deviation of 5.95, and Mean Deviation of 3.42 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -2.91, which means a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Endurance Gold are expected to decrease by larger amounts. On the other hand, during market turmoil, Endurance Gold is expected to outperform it. Endurance Gold Corp has an expected return of -0.0182%. Please make sure to confirm Endurance Gold Corp standard deviation, potential upside, day typical price, as well as the relationship between the jensen alpha and daily balance of power , to decide if Endurance Gold Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.62 |
Very good reverse predictability
Endurance Gold Corp has very good reverse predictability. Overlapping area represents the amount of predictability between Endurance Gold time series from 1st of April 2024 to 16th of April 2024 and 16th of April 2024 to 1st of May 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 Endurance Gold Corp price movement. The serial correlation of -0.62 indicates that roughly 62.0% of current Endurance Gold price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.62 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Endurance Gold Corp lagged returns against current returns
Autocorrelation, which is Endurance 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 Endurance Gold's stock expected returns. We can calculate the autocorrelation of Endurance Gold returns to help us make a trade decision. For example, suppose you find that Endurance 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 |
Endurance 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 Endurance Gold stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Endurance Gold stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Endurance Gold stock over time.
Current vs Lagged Prices |
| Timeline |
Endurance Gold Lagged Returns
When evaluating Endurance Gold's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Endurance Gold stock have on its future price. Endurance 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, Endurance Gold autocorrelation shows the relationship between Endurance Gold stock current value and its past values and can show if there is a momentum factor associated with investing in Endurance Gold Corp.
Regressed Prices |
| Timeline |
Pair Trading with Endurance 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 Endurance 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 Endurance Gold will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Endurance 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 Endurance 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 Endurance 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 Endurance Gold Corp to buy it.
The correlation of Endurance 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 Endurance Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Endurance 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 Endurance 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 Endurance Gold Correlation, Endurance Gold Volatility and Endurance Gold Alpha and Beta module to complement your research on Endurance Gold. You can also try the Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Complementary Tools for Endurance Stock analysis
When running Endurance Gold's price analysis, check to measure Endurance 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 Endurance Gold is operating at the current time. Most of Endurance Gold's value examination focuses on studying past and present price action to predict the probability of Endurance 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 Endurance Gold's price. Additionally, you may evaluate how the addition of Endurance Gold to your portfolios can decrease your overall portfolio volatility.
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Endurance 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.