| BLDP Stock | | | CAD 1.83 0.04 2.23% |
Ballard Power financial indicator trend analysis is way more than just evaluating Ballard Power Systems prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Ballard Power Systems is a good investment. Please check the relationship between Ballard Power Net Debt and its Other Assets accounts. Check out
Trending Equities to better understand how to build diversified portfolios, which includes a position in Ballard Power Systems. 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 Debt vs Other Assets
Net Debt vs Other Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Ballard Power Systems Net Debt account and
Other Assets. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Ballard Power's Net Debt and Other Assets is -0.35. Overlapping area represents the amount of variation of Net Debt that can explain the historical movement of Other Assets in the same time period over historical financial statements of Ballard Power Systems, assuming nothing else is changed. The correlation between historical values of Ballard Power's Net Debt and Other Assets 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 Debt of Ballard Power Systems are associated (or correlated) with its Other Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Assets has no effect on the direction of Net Debt i.e., Ballard Power's Net Debt and Other Assets go up and down completely randomly.
Correlation Coefficient | -0.35 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Net Debt
The total debt of a company minus its cash and cash equivalents. It represents the actual debt burden on the company after accounting for the liquid assets it holds.
Other Assets
Most indicators from Ballard Power's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Ballard Power Systems 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 Ballard Power Systems. 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, Ballard Power's
Discontinued Operations is very stable compared to the past year. As of the 23rd of November 2024,
Tax Provision is likely to grow to about 165.9
K, while
Selling General Administrative is likely to drop about 17.8
M.
Ballard Power fundamental ratios Correlations
Click cells to compare fundamentals
Ballard Power Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Ballard Power fundamental ratios Accounts
Pair Trading with Ballard 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 Ballard 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 Ballard Power will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Ballard 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 Ballard 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 Ballard 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 Ballard Power Systems to buy it.
The correlation of Ballard 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 Ballard Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ballard Power Systems 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 Ballard 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.
When determining whether Ballard Power Systems is a good investment, qualitative aspects like company
management, corporate governance, and ethical practices play a significant role. A
comparison with peer companies also provides context and helps to understand if Ballard Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Ballard Power Systems Stock.
Highlighted below are key reports to facilitate an investment decision about Ballard Power Systems Stock: Check out
Trending Equities to better understand how to build diversified portfolios, which includes a position in Ballard Power Systems. 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
Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Please note, there is a significant difference between Ballard Power's value and its price as these two are different measures arrived at by different means. Investors typically determine if Ballard Power is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Ballard Power's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.