Sherritt Net Borrowings from 2010 to 2024
| S Stock | CAD 0.17 0.01 5.56% |
Net Borrowings | First Reported 2016-12-31 | Previous Quarter -600 K | Current Value -44.8 M | Quarterly Volatility 36.5 M |
Check Sherritt International financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Sherritt International's main balance sheet or income statement drivers, such as Depreciation And Amortization of 13.9 M, Interest Expense of 33.7 M or Selling General Administrative of 20.6 M, as well as many indicators such as Price To Sales Ratio of 0.95, Dividend Yield of 0.0402 or PTB Ratio of 0.18. Sherritt financial statements analysis is a perfect complement when working with Sherritt International Valuation or Volatility modules.
Sherritt | Net Borrowings |
Pair Trading with Sherritt International
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 Sherritt International 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 Sherritt International will appreciate offsetting losses from the drop in the long position's value.Moving against Sherritt Stock
| 0.78 | BNS | Bank of Nova Scotia Earnings Call This Week | PairCorr |
| 0.77 | WMT | Walmart Inc CDR | PairCorr |
| 0.71 | BOFA | Bank of America | PairCorr |
| 0.66 | AMZN | Amazon CDR | PairCorr |
| 0.66 | JPM | JPMorgan Chase | PairCorr |
The ability to find closely correlated positions to Sherritt International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sherritt International 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 Sherritt International - 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 Sherritt International to buy it.
The correlation of Sherritt International 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 Sherritt International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sherritt International 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 Sherritt International 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 Sherritt Stock
Sherritt International financial ratios help investors to determine whether Sherritt 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 Sherritt with respect to the benefits of owning Sherritt International security.