ELEF.TO vs. EQX.TO

Last updated Jun 4, 2026

ELEF.TO (Silver Elephant Mining Corp.) and EQX.TO (Equinox Gold Corp.) are both stocks. Both are in the Basic Materials sector — ELEF.TO in Other Industrial Metals & Mining, EQX.TO in Gold. Over the past 10 years, ELEF.TO returned -17.59%/yr vs 29.27%/yr for EQX.TO. At a 0.14 correlation, their price movements are largely independent.

Performance

ELEF.TO vs. EQX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Silver Elephant Mining Corp. (ELEF.TO) and Equinox Gold Corp. (EQX.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELEF.TO achieves a -60.61% return, which is significantly lower than EQX.TO's -18.95% return. Over the past 10 years, ELEF.TO has underperformed EQX.TO with an annualized return of -17.59%, while EQX.TO has yielded a comparatively higher 29.27% annualized return.

ELEF.TO

• 1D: -7.14%
• 1M: -27.78%
• YTD: -60.61%
• 6M: -59.38%
• 1Y: -35.00%
• 3Y*: -29.44%
• 5Y*: -38.01%
• 10Y*: -17.59%

EQX.TO

• 1D: -6.70%
• 1M: -17.36%
• YTD: -18.95%
• 6M: -18.70%
• 1Y: 65.09%
• 3Y*: 34.19%
• 5Y*: 7.68%
• 10Y*: 29.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ELEF.TO vs. EQX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ELEF.TO Silver Elephant Mining Corp.	-60.61%	73.68%	-45.71%	-11.39%	-67.54%	-44.91%	25.65%	44.45%	-38.22%	-12.60%
EQX.TO Equinox Gold Corp.	-18.95%	166.44%	12.42%	45.37%	-48.25%	-35.00%	31.83%	95.88%	-8.93%	-38.46%

Correlation

The correlation between ELEF.TO and EQX.TO is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jul 25, 2013	0.14

The correlation between ELEF.TO and EQX.TO shifts across timeframes, from 0.14 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ELEF.TO : CA$6.91M EQX.TO : CA$12.88B
EPS ELEF.TO : CA$0.39 EQX.TO : CA$0.94
PE Ratio ELEF.TO : 0.33 EQX.TO : 16.53
PB Ratio ELEF.TO : 0.42 EQX.TO : 2.10
Total Revenue (TTM) ELEF.TO : CA$0.00 EQX.TO : CA$2.84B
Gross Profit (TTM) ELEF.TO : -CA$123.25K EQX.TO : CA$1.21B
EBITDA (TTM) ELEF.TO : CA$23.22M EQX.TO : CA$1.38B

Return for Risk

ELEF.TO vs. EQX.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ELEF.TO

ELEF.TO Risk / Return Rank: 27
ELEF.TO Sharpe Ratio Rank: 27
ELEF.TO Sortino Ratio Rank: 33
ELEF.TO Omega Ratio Rank: 32
ELEF.TO Calmar Ratio Rank: 23
ELEF.TO Martin Ratio Rank: 21

EQX.TO

EQX.TO Risk / Return Rank: 71
EQX.TO Sharpe Ratio Rank: 74
EQX.TO Sortino Ratio Rank: 69
EQX.TO Omega Ratio Rank: 68
EQX.TO Calmar Ratio Rank: 71
EQX.TO Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ELEF.TO vs. EQX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Silver Elephant Mining Corp. (ELEF.TO) and Equinox Gold Corp. (EQX.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ELEF.TO	EQX.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	1.11	-1.46
Sortino ratio: Return per unit of downside risk	0.09	1.70	-1.61
Omega ratio: Gain probability vs. loss probability	1.01	1.22	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.53	1.68	-2.20
Martin ratio: Return relative to average drawdown	-1.00	4.32	-5.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ELEF.TO vs. EQX.TO - Sharpe Ratio Comparison

The current ELEF.TO Sharpe Ratio is -0.35, which is lower than the EQX.TO Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of ELEF.TO and EQX.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ELEF.TO	EQX.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.35	1.11	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	0.14	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.16	0.16	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.07	-0.22

Drawdowns

ELEF.TO vs. EQX.TO - Drawdown Comparison

The maximum ELEF.TO drawdown since its inception was -99.83%, which is greater than EQX.TO's maximum drawdown of -86.00%. Use the drawdown chart below to compare losses from any high point for ELEF.TO and EQX.TO.

Drawdown Indicators

	ELEF.TO	EQX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.83%	-86.00%	-13.83%
Max Drawdown (1Y) Largest decline over 1 year	-66.67%	-38.98%	-27.69%
Max Drawdown (3Y) Largest decline over 3 years	-81.94%	-38.98%	-42.96%
Max Drawdown (5Y) Largest decline over 5 years	-95.41%	-69.34%	-26.07%
Max Drawdown (10Y) Largest decline over 10 years	-95.99%	-80.51%	-15.48%
Current Drawdown Current decline from peak	-99.83%	-38.98%	-60.85%
Average Drawdown Average peak-to-trough decline	-81.80%	-44.47%	-37.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.01%	15.11%	+19.90%

Volatility

ELEF.TO vs. EQX.TO - Volatility Comparison

Silver Elephant Mining Corp. (ELEF.TO) has a higher volatility of 25.31% compared to Equinox Gold Corp. (EQX.TO) at 20.99%. This indicates that ELEF.TO's price experiences larger fluctuations and is considered to be riskier than EQX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ELEF.TO	EQX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.31%	20.99%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	57.69%	46.39%	+11.30%
Volatility (1Y) Calculated over the trailing 1-year period	101.62%	58.85%	+42.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	108.10%	55.86%	+52.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	110.13%	190.52%	-80.39%

Dividends

ELEF.TO vs. EQX.TO - Dividend Comparison

ELEF.TO has not paid dividends to shareholders, while EQX.TO's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM
ELEF.TO Silver Elephant Mining Corp.	0.00%
EQX.TO Equinox Gold Corp.	0.26%

Financials

Frequently Asked Questions

Can I hold both ELEF.TO and EQX.TO in my portfolio?

ELEF.TO and EQX.TO have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.