Northern Net Income From Continuing Ops from 2010 to 2024
| NDM Stock | CAD 0.76 0.06 8.57% |
Net Loss | First Reported 2016-12-31 | Previous Quarter -3.7 M | Current Value -4.6 M | Quarterly Volatility 10 M |
Check Northern Dynasty financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Northern Dynasty's main balance sheet or income statement drivers, such as Depreciation And Amortization of 13.7 K, Interest Expense of 77 K or Selling General Administrative of 16.5 M, as well as many indicators such as Price To Sales Ratio of 0.0, Dividend Yield of 0.0 or PTB Ratio of 1.75. Northern financial statements analysis is a perfect complement when working with Northern Dynasty Valuation or Volatility modules.
Northern | Net Income From Continuing Ops |
Pair Trading with Northern Dynasty
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 Northern Dynasty 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 Northern Dynasty will appreciate offsetting losses from the drop in the long position's value.Moving together with Northern Stock
Moving against Northern Stock
| 0.91 | HPQ | HPQ Silicon Resources | PairCorr |
| 0.59 | ORE | Orezone Gold Corp | PairCorr |
| 0.56 | INFM | Infinico Metals Corp | PairCorr |
| 0.44 | NG | NovaGold Resources | PairCorr |
The ability to find closely correlated positions to Northern Dynasty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Dynasty 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 Northern Dynasty - 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 Northern Dynasty Minerals to buy it.
The correlation of Northern Dynasty 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 Northern Dynasty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Dynasty Minerals 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 Northern Dynasty 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 the analysis of Northern Dynasty Correlation against competitors. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.