Eldorado Gold Correlations
| ELD Stock | CAD 22.40 0.42 1.84% |
The current 90-days correlation between Eldorado Gold Corp and IAMGold is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eldorado Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eldorado Gold Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Eldorado Gold Correlation With Market
Average diversification
The correlation between Eldorado Gold Corp and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eldorado Gold Corp and DJI in the same portfolio, assuming nothing else is changed.
Eldorado |
The ability to find closely correlated positions to Eldorado 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 Eldorado 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 Eldorado 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 Eldorado Gold Corp to buy it.
Moving against Eldorado Stock
| 0.45 | JPM | JPMorgan Chase | PairCorr |
| 0.45 | META | Meta Platforms CDR | PairCorr |
| 0.43 | WMT | Walmart Inc CDR | PairCorr |
| 0.38 | ORE | Orezone Gold Corp Earnings Call Today | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Eldorado Stock performing well and Eldorado 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 Eldorado 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IMG | 2.32 | 0.29 | 0.09 | 0.30 | 3.25 | 4.87 | 16.87 | |||
| K | 1.96 | 0.41 | 0.15 | 0.63 | 2.49 | 4.84 | 13.51 | |||
| AGI | 1.48 | 0.53 | 0.26 | 0.81 | 1.43 | 3.79 | 8.00 | |||
| AEM | 1.38 | 0.42 | 0.25 | 0.54 | 1.47 | 3.16 | 10.26 | |||
| CG | 1.74 | 0.11 | 0.05 | 0.11 | 2.53 | 3.82 | 11.12 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Eldorado 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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Eldorado Gold Corporate Management
Elected by the shareholders, the Eldorado Gold's board of directors comprises two types of representatives: Eldorado Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eldorado. The board's role is to monitor Eldorado Gold's management team and ensure that shareholders' interests are well served. Eldorado 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, Eldorado Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Simon Hille | Executive Operations | Profile | |
| Louise McMahon | Director Affairs | Profile | |
| Nora Lozano | Safety Health | Profile | |
| Claire Chamberlain | Vice Exploration | Profile | |
| Per Frank | Senior Operations | Profile |