Algonquin Net Income vs Net Interest Income Analysis
| AQN Stock | CAD 6.88 0.03 0.44% |
Algonquin Power financial indicator trend analysis is way more than just evaluating Algonquin Power Utilities prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Algonquin Power Utilities is a good investment. Please check the relationship between Algonquin Power Net Income and its Net Interest Income accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algonquin Power Utilities. 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.
Net Income vs Net Interest Income
Net Income vs Net Interest Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Algonquin Power Utilities Net Income account and Net Interest Income. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Algonquin Power's Net Income and Net Interest Income is -0.2. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Net Interest Income in the same time period over historical financial statements of Algonquin Power Utilities, assuming nothing else is changed. The correlation between historical values of Algonquin Power's Net Income and Net Interest Income is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Income of Algonquin Power Utilities are associated (or correlated) with its Net Interest Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Interest Income has no effect on the direction of Net Income i.e., Algonquin Power's Net Income and Net Interest Income go up and down completely randomly.
Correlation Coefficient | -0.2 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Net Income
Net income is one of the most important fundamental items in finance. It plays a large role in Algonquin Power Utilities financial statement analysis. It represents the amount of money remaining after all of Algonquin Power Utilities operating expenses, interest, taxes and preferred stock dividends have been deducted from a company total revenue.Net Interest Income
The difference between the revenue generated from a bank's interest-bearing assets and the expenses associated with paying its interest-bearing liabilities.Most indicators from Algonquin Power's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Algonquin Power Utilities 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Algonquin Power Utilities. 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, Algonquin Power's Selling General Administrative is very stable compared to the past year. As of the 29th of November 2024, Sales General And Administrative To Revenue is likely to grow to 0.04, while Discontinued Operations is likely to drop (1.2 M).
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 1.6B | 1.9B | 1.1B | 1.1B | Total Revenue | 2.3B | 2.8B | 2.7B | 2.8B |
Algonquin Power fundamental ratios Correlations
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Algonquin Power Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Algonquin Power fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 10.9B | 13.2B | 16.8B | 17.6B | 18.4B | 19.3B | |
| Short Long Term Debt Total | 3.9B | 4.5B | 6.2B | 7.5B | 8.5B | 8.9B | |
| Other Current Liab | 496.7M | 592.6M | 823.0M | 925.1M | 852.9M | 895.6M | |
| Total Current Liabilities | 872.1M | 955.2M | 1.4B | 1.5B | 1.7B | 1.8B | |
| Total Stockholder Equity | 3.9B | 5.2B | 5.9B | 5.2B | 5.0B | 5.3B | |
| Property Plant And Equipment Net | 7.2B | 8.2B | 11.0B | 11.9B | 12.5B | 13.1B | |
| Net Debt | 3.9B | 4.4B | 6.1B | 7.5B | 8.5B | 8.9B | |
| Retained Earnings | (367.1M) | 45.8M | (288.4M) | (997.9M) | (1.3B) | (1.2B) | |
| Cash | 62.5M | 101.6M | 125.2M | 57.6M | 56.1M | 38.7M | |
| Non Current Assets Total | 10.4B | 12.5B | 15.8B | 16.5B | 17.3B | 18.2B | |
| Non Currrent Assets Other | 640.6M | 912.8M | 1.2B | 1.3B | 1.6B | 1.7B | |
| Cash And Short Term Investments | 62.5M | 101.6M | 125.2M | 57.6M | 56.1M | 39.3M | |
| Net Receivables | 259.1M | 324.8M | 403.4M | 528.1M | 524.2M | 550.4M | |
| Common Stock Total Equity | 3.0B | 3.6B | 4.0B | 4.9B | 5.7B | 6.0B | |
| Common Stock Shares Outstanding | 466.0M | 499.9M | 564.4M | 628.9M | 690.8M | 725.3M | |
| Liabilities And Stockholders Equity | 10.9B | 13.2B | 16.8B | 17.6B | 18.4B | 19.3B | |
| Non Current Liabilities Total | 5.3B | 6.3B | 7.7B | 8.9B | 9.7B | 10.2B | |
| Inventory | 91.1M | 134.6M | 177.8M | 224.9M | 227.1M | 238.5M | |
| Other Current Assets | 100.5M | 134.1M | 232.4M | 283.9M | 258.9M | 271.8M | |
| Other Stockholder Equity | 50.6M | 60.7M | 2.0M | 9.4M | 7.3M | 6.9M | |
| Total Liab | 6.2B | 7.2B | 9.1B | 10.5B | 11.4B | 12.0B | |
| Property Plant And Equipment Gross | 7.2B | 8.2B | 12.6B | 14.0B | 14.9B | 15.6B | |
| Total Current Assets | 513.2M | 695.0M | 938.7M | 1.1B | 1.1B | 1.1B | |
| Common Stock | 4.0B | 4.9B | 6.0B | 6.2B | 6.2B | 6.5B | |
| Current Deferred Revenue | 381.9M | 462.3M | 543.3M | 629.8M | 724.3M | 760.5M | |
| Accounts Payable | 150.3M | 192.2M | 185.3M | 186.1M | 210.4M | 220.9M | |
| Other Assets | 671.2M | 931.8M | 1.2B | 1.4B | 1.6B | 1.6B | |
| Accumulated Other Comprehensive Income | (9.8M) | (22.5M) | (71.7M) | (160.1M) | (102.3M) | (97.2M) | |
| Short Term Debt | 225.0M | 170.4M | 356.4M | 423.3M | 621.9M | 652.9M | |
| Intangible Assets | 47.6M | 114.9M | 105.1M | 96.7M | 93.9M | 76.0M | |
| Good Will | 1.0B | 1.2B | 1.2B | 1.3B | 1.3B | 721.7M | |
| Other Liab | 1.6B | 1.8B | 1.8B | 1.8B | 2.0B | 1.4B | |
| Net Tangible Assets | 2.6B | 3.7B | 4.4B | 3.6B | 4.2B | 2.5B | |
| Long Term Debt | 3.7B | 4.4B | 5.9B | 7.1B | 7.9B | 4.2B | |
| Deferred Long Term Liab | 509.7M | 782.4M | 1.0B | 1.1B | 1.2B | 1.3B | |
| Long Term Investments | 1.4B | 2.1B | 2.3B | 1.8B | 1.6B | 1.1B | |
| Short Long Term Debt | 225.0M | 139.9M | 356.4M | 423.3M | 621.9M | 652.9M | |
| Property Plant Equipment | 7.2B | 8.2B | 11.0B | 1.2B | 1.4B | 1.3B | |
| Long Term Debt Total | 3.7B | 4.4B | 5.9B | 7.1B | 8.2B | 4.4B |
Pair Trading with Algonquin Power
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 Algonquin Power 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 Algonquin Power will appreciate offsetting losses from the drop in the long position's value.Moving against Algonquin Stock
| 0.71 | FFH | Fairfax Financial | PairCorr |
| 0.69 | FFH-PD | Fairfax Financial | PairCorr |
| 0.62 | TPX-B | Molson Coors Canada | PairCorr |
| 0.59 | FFH-PM | Fairfax Financial | PairCorr |
| 0.56 | ELF | E L Financial | PairCorr |
The ability to find closely correlated positions to Algonquin Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algonquin Power 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 Algonquin Power - 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 Algonquin Power Utilities to buy it.
The correlation of Algonquin Power 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 Algonquin Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algonquin Power Utilities 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 Algonquin Power 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Algonquin Power Utilities. 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. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.