Nobel29 Free Cash Flow Yield vs Cash Per Share Analysis
| NBLC Stock | CAD 0.04 0.01 33.33% |
Nobel29 Resources financial indicator trend analysis is infinitely more than just investigating Nobel29 Resources Corp recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Nobel29 Resources Corp is a good investment. Please check the relationship between Nobel29 Resources Free Cash Flow Yield and its Cash Per Share accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nobel29 Resources 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 main economic indicators.
Free Cash Flow Yield vs Cash Per Share
Free Cash Flow Yield vs Cash Per Share Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Nobel29 Resources Corp Free Cash Flow Yield account and Cash Per Share. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Nobel29 Resources' Free Cash Flow Yield and Cash Per Share is -0.32. Overlapping area represents the amount of variation of Free Cash Flow Yield that can explain the historical movement of Cash Per Share in the same time period over historical financial statements of Nobel29 Resources Corp, assuming nothing else is changed. The correlation between historical values of Nobel29 Resources' Free Cash Flow Yield and Cash Per Share is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Free Cash Flow Yield of Nobel29 Resources Corp are associated (or correlated) with its Cash Per Share. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash Per Share has no effect on the direction of Free Cash Flow Yield i.e., Nobel29 Resources' Free Cash Flow Yield and Cash Per Share go up and down completely randomly.
Correlation Coefficient | -0.32 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Free Cash Flow Yield
A financial solvency ratio that compares the free cash flow per share a company is expected to earn against its market value per share, calculated as free cash flow per share divided by market price per share.Cash Per Share
Most indicators from Nobel29 Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Nobel29 Resources Corp current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nobel29 Resources 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 main economic indicators. Selling General Administrative is likely to climb to about 1.9 M in 2024, whereas Enterprise Value Over EBITDA is likely to drop (1.47) in 2024.
Nobel29 Resources fundamental ratios Correlations
Click cells to compare fundamentals
Nobel29 Resources Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Nobel29 Resources fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 22.9K | 4.3M | 1.2M | 447.4K | 514.6K | 488.8K | |
| Total Current Liabilities | 234.0K | 173.9K | 817.6K | 949.1K | 1.1M | 1.1M | |
| Total Stockholder Equity | (57.9K) | 3.7M | 334.4K | (501.7K) | (451.5K) | (429.0K) | |
| Retained Earnings | (1.3M) | (10.5M) | (19.5M) | (19.6M) | (17.7M) | (16.8M) | |
| Cash | 8.2K | 4.1M | 841.1K | 415.0K | 477.3K | 453.4K | |
| Total Liab | 80.8K | 657.8K | 817.6K | 949.1K | 1.1M | 566.0K | |
| Net Invested Capital | (57.9K) | 3.7M | 334.4K | (501.7K) | (451.5K) | (429.0K) | |
| Total Current Assets | 1.1M | 7.8M | 1.2M | 447.4K | 514.6K | 488.8K | |
| Net Working Capital | (57.9K) | 3.7M | 334.4K | (501.7K) | (451.5K) | (429.0K) |
Pair Trading with Nobel29 Resources
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 Nobel29 Resources 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 Nobel29 Resources will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Nobel29 Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nobel29 Resources 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 Nobel29 Resources - 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 Nobel29 Resources Corp to buy it.
The correlation of Nobel29 Resources 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 Nobel29 Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nobel29 Resources 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 Nobel29 Resources 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 Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nobel29 Resources 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 main economic indicators. You can also try the Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
Complementary Tools for Nobel29 Stock analysis
When running Nobel29 Resources' price analysis, check to measure Nobel29 Resources' 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 Nobel29 Resources is operating at the current time. Most of Nobel29 Resources' value examination focuses on studying past and present price action to predict the probability of Nobel29 Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nobel29 Resources' price. Additionally, you may evaluate how the addition of Nobel29 Resources to your portfolios can decrease your overall portfolio volatility.
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