Algoma Total Stockholder Equity vs Retained Earnings Analysis
| ASTL Stock | 15.11 0.38 2.45% |
Algoma Steel financial indicator trend analysis is way more than just evaluating Algoma Steel Group prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Algoma Steel Group is a good investment. Please check the relationship between Algoma Steel Total Stockholder Equity and its Retained Earnings accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. 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.
Total Stockholder Equity vs Retained Earnings
Total Stockholder Equity vs Retained Earnings Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Algoma Steel Group Total Stockholder Equity account and Retained Earnings. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Algoma Steel's Total Stockholder Equity and Retained Earnings is 0.92. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Retained Earnings in the same time period over historical financial statements of Algoma Steel Group, assuming nothing else is changed. The correlation between historical values of Algoma Steel's Total Stockholder Equity and Retained Earnings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Stockholder Equity of Algoma Steel Group are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Total Stockholder Equity i.e., Algoma Steel's Total Stockholder Equity and Retained Earnings go up and down completely randomly.
Correlation Coefficient | 0.92 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Total Stockholder Equity
The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.Retained Earnings
The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.Most indicators from Algoma Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Algoma Steel Group 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 Algoma Steel Group. 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, Algoma Steel's Tax Provision is very stable compared to the past year. As of the 27th of November 2024, Enterprise Value is likely to grow to about 3.4 B, while Selling General Administrative is likely to drop about 93.3 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Total Operating Expenses | 103M | 99.3M | 114.7M | 109.0M | Cost Of Revenue | 2.3B | 2.4B | 2.5B | 2.3B |
Algoma Steel fundamental ratios Correlations
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Algoma Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Algoma Steel
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 Algoma Steel 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 Algoma Steel will appreciate offsetting losses from the drop in the long position's value.Moving against Algoma Stock
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| 0.55 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to Algoma Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algoma Steel 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 Algoma Steel - 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 Algoma Steel Group to buy it.
The correlation of Algoma Steel 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 Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group 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 Algoma Steel 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 Algoma Steel Group. 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.