NextSource Return On Equity from 2010 to 2024
| NEXT Stock | CAD 0.51 0.01 1.92% |
Return On Equity | First Reported 2010-12-31 | Previous Quarter (0.17) | Current Value (0.18) | Quarterly Volatility 11.99777886 |
Check NextSource Materials financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among NextSource Materials' main balance sheet or income statement drivers, such as Depreciation And Amortization of 221.8 K, Interest Expense of 349.1 K or Selling General Administrative of 2.7 M, as well as many indicators such as Price To Sales Ratio of 0.0, Dividend Yield of 0.0 or PTB Ratio of 2.11. NextSource financial statements analysis is a perfect complement when working with NextSource Materials Valuation or Volatility modules.
NextSource | Return On Equity |
Pair Trading with NextSource Materials
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 NextSource Materials 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 NextSource Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with NextSource Stock
Moving against NextSource Stock
| 0.88 | RY | Royal Bank | PairCorr |
| 0.79 | BOFA | Bank of America | PairCorr |
| 0.77 | IE | Ivanhoe Energy | PairCorr |
| 0.77 | FDY | Faraday Copper Corp | PairCorr |
| 0.76 | RY-PJ | Royal Bank | PairCorr |
The ability to find closely correlated positions to NextSource Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NextSource Materials 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 NextSource Materials - 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 NextSource Materials to buy it.
The correlation of NextSource Materials 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 NextSource Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NextSource Materials 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 NextSource Materials 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.Other Information on Investing in NextSource Stock
NextSource Materials financial ratios help investors to determine whether NextSource Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in NextSource with respect to the benefits of owning NextSource Materials security.