Stock Market Stories and Insights

Should you exit your Exxon (NYSE:XOM) and Novagold Resources (AMEX:NG) positions after an ascent?

  
It looks like Exxon will continue to recover much faster as its share price surged up 4.55% today to Novagold Resources's 5.1173%. As many rational traders are trying to avoid basic materials space, it makes sense to digest Novagold Resources a little further and understand how it stands against Exxon and other similar entities. We are going to discuss some of the competitive aspects of both Novagold and Exxon. more
By analyzing existing technical and fundamental indicators between Novagold Resources and Exxon, you can compare the effects of market volatilities on both companies' prices and check if they can diversify away market risk if combined in one of your portfolios. You can also utilize pair trading strategies for matching a long position in Exxon with a short position in Novagold Resources. Check out our pair correlation module for more information.

Let's begin by analyzing the assets.
The asset utilization indicator refers to the revenue earned for every dollar of assets a company currently reports. Novagold Resources has an asset utilization ratio of 0.15 percent. This indicates that the company is making $0.001467 for each dollar of assets. An increasing asset utilization means that Novagold Resources is more efficient with each dollar of assets it utilizes for everyday operations.
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