Nevada Other Current Assets vs Net Working Capital Analysis
NKG Stock | CAD 0.31 0.01 3.13% |
Nevada King financial indicator trend analysis is infinitely more than just investigating Nevada King Gold recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Nevada King Gold is a good investment. Please check the relationship between Nevada King Other Current Assets and its Net Working Capital accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nevada King Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Other Current Assets vs Net Working Capital
Other Current Assets vs Net Working Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Nevada King Gold Other Current Assets account and Net Working Capital. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Nevada King's Other Current Assets and Net Working Capital is -0.18. Overlapping area represents the amount of variation of Other Current Assets that can explain the historical movement of Net Working Capital in the same time period over historical financial statements of Nevada King Gold, assuming nothing else is changed. The correlation between historical values of Nevada King's Other Current Assets and Net Working Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Current Assets of Nevada King Gold are associated (or correlated) with its Net Working Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Working Capital has no effect on the direction of Other Current Assets i.e., Nevada King's Other Current Assets and Net Working Capital go up and down completely randomly.
Correlation Coefficient | -0.18 |
Relationship Direction | Negative |
Relationship Strength | Insignificant |
Other Current Assets
Assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, which are not included under standard current asset categories.Net Working Capital
Most indicators from Nevada King's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Nevada King Gold 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 Nevada King Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. At this time, Nevada King's Sales General And Administrative To Revenue is fairly stable compared to the past year. Enterprise Value is likely to climb to about 124.8 M in 2024, whereas Selling General Administrative is likely to drop slightly above 4.4 M in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Interest Income | 14.4K | 423.1K | 405.4K | 425.7K | Net Interest Income | 14.4K | 423.1K | 405.4K | 425.7K |
Nevada King fundamental ratios Correlations
Click cells to compare fundamentals
Nevada King Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Nevada King fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Current Liabilities | 124.9K | 156.4K | 255.6K | 1.3M | 755.3K | 625.2K | |
Net Tangible Assets | 7.4M | 9.3M | 28.4M | 74.5M | 85.7M | 89.9M | |
Retained Earnings | (30.6M) | (32.6M) | (42.4M) | (100.1M) | (127.1M) | (120.7M) | |
Accounts Payable | 124.9K | 156.4K | 249.8K | 1.3M | 1.5M | 1.5M | |
Common Stock | 33.3M | 37.4M | 40.9M | 114.8M | 132.1M | 138.7M | |
Property Plant Equipment | 3.1M | 7.6M | 8.1M | 59.9M | 68.8M | 72.3M | |
Total Assets | 9.4M | 28.6M | 74.7M | 37.7M | 36.2M | 30.7M | |
Total Stockholder Equity | 9.3M | 28.4M | 74.5M | 36.4M | 35.5M | 30.2M | |
Cash | 1.7M | 987.7K | 13.2M | 7.9M | 5.4M | 5.0M | |
Non Current Assets Total | 7.6M | 9.4M | 61.5M | 29.5M | 30.6M | 22.3M | |
Common Stock Shares Outstanding | 91.1M | 99.1M | 243.6M | 278.6M | 343.5M | 182.1M | |
Total Liab | 124.9K | 156.4K | 255.6K | 1.3M | 755.3K | 491.4K | |
Net Invested Capital | 9.3M | 28.4M | 74.5M | 36.4M | 35.5M | 30.2M | |
Total Current Assets | 1.7M | 19.2M | 13.2M | 8.2M | 5.6M | 8.3M | |
Net Working Capital | 1.6M | 19.0M | 13.0M | 6.9M | 4.9M | 7.9M | |
Net Receivables | 12.0K | 70.4K | 16.2K | 44.7K | 35.7K | 36.2K | |
Capital Stock | 37.4M | 40.9M | 114.8M | 130.5M | 156.4M | 94.1M |
Pair Trading with Nevada King
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 Nevada King 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 Nevada King will appreciate offsetting losses from the drop in the long position's value.Moving against Nevada Stock
0.83 | RY-PH | Royal Bank | PairCorr |
0.8 | RY-PS | Royal Bank | PairCorr |
0.8 | RY-PN | Royal Bank | PairCorr |
0.76 | RY-PJ | Royal Bank | PairCorr |
0.71 | FDY | Faraday Copper Corp | PairCorr |
The ability to find closely correlated positions to Nevada King could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nevada King 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 Nevada King - 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 Nevada King Gold to buy it.
The correlation of Nevada King 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 Nevada King moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Nevada King Gold 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 Nevada King 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.Additional Tools for Nevada Stock Analysis
When running Nevada King's price analysis, check to measure Nevada King'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 Nevada King is operating at the current time. Most of Nevada King's value examination focuses on studying past and present price action to predict the probability of Nevada King's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Nevada King's price. Additionally, you may evaluate how the addition of Nevada King to your portfolios can decrease your overall portfolio volatility.