The Narragansett Electric Stock Beta
| NRGSPDelisted Stock | USD 55.00 0.00 0.00% |
The Narragansett Electric fundamentals help investors to digest information that contributes to Narragansett Electric's financial success or failures. It also enables traders to predict the movement of Narragansett Pink Sheet. The fundamental analysis module provides a way to measure Narragansett Electric's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Narragansett Electric pink sheet.
Narragansett |
The Narragansett Electric Company Beta Analysis
Narragansett Electric's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
CompetitionIn accordance with the recently published financial statements, The Narragansett Electric has a Beta of 0.0. This indicator is about the same for the Other average (which is currently at 0.0) sector and about the same as Other (which currently averages 0.0) industry. This indicator is about the same for all United States stocks average (which is currently at 0.0).
Narragansett Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Narragansett Electric's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the pink sheets which would be a good addition to a portfolio. Peer analysis of Narragansett Electric could also be used in its relative valuation, which is a method of valuing Narragansett Electric by comparing valuation metrics of similar companies.Narragansett Electric is currently under evaluation in beta category among its peers.
Narragansett Fundamentals
| Market Capitalization | 59.46 M | |||
| Annual Yield | 0.04 % | |||
| Last Dividend Paid | 0.56 |
About Narragansett Electric Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze The Narragansett Electric's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Narragansett Electric using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of The Narragansett Electric based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Narragansett Electric
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 Narragansett Electric 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 Narragansett Electric will appreciate offsetting losses from the drop in the long position's value.Moving together with Narragansett Pink Sheet
Moving against Narragansett Pink Sheet
| 0.94 | CVPBF | CP ALL Public | PairCorr |
| 0.86 | SCVPF | Siam Cement | PairCorr |
| 0.86 | OAK-PB | Oaktree Capital Group | PairCorr |
| 0.85 | HNHPF | Hon Hai Precision | PairCorr |
| 0.83 | NMPWP | Niagara Mohawk Power | PairCorr |
The ability to find closely correlated positions to Narragansett Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Narragansett Electric 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 Narragansett Electric - 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 The Narragansett Electric to buy it.
The correlation of Narragansett Electric 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 Narragansett Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if The Narragansett Electric 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 Narragansett Electric 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state. You can also try the Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Consideration for investing in Narragansett Pink Sheet
If you are still planning to invest in The Narragansett Electric check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Narragansett Electric's history and understand the potential risks before investing.
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