| NEWP Stock | | | USD 1.57 0.02 1.26% |
New Pacific financial indicator trend analysis is infinitely more than just investigating New Pacific Metals recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether New Pacific Metals is a good investment. Please check the relationship between New Pacific Total Stockholder Equity and its Long Term Investments accounts. Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Pacific Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in housing.
Total Stockholder Equity vs Long Term Investments
Total Stockholder Equity vs Long Term Investments Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
New Pacific Metals Total Stockholder Equity account and
Long Term Investments. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between New Pacific's Total Stockholder Equity and Long Term Investments is -0.61. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Long Term Investments in the same time period over historical financial statements of New Pacific Metals, assuming nothing else is changed. The correlation between historical values of New Pacific's Total Stockholder Equity and Long Term Investments 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 New Pacific Metals are associated (or correlated) with its Long Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Long Term Investments has no effect on the direction of Total Stockholder Equity i.e., New Pacific's Total Stockholder Equity and Long Term Investments go up and down completely randomly.
Correlation Coefficient | -0.61 |
| Relationship Direction | Negative |
| Relationship Strength | Weak |
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.
Long Term Investments
Long Term Investments is an item on the asset side of New Pacific balance sheet that represents investments New Pacific Metals intends to hold for over a year. New Pacific Metals long term investments may include different instruments such as stocks, bonds, real estate and cash.
Most indicators from New Pacific's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into New Pacific Metals 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
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Pacific Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in housing.
As of 11/26/2024,
Issuance Of Capital Stock is likely to grow to about 26.6
M, while
Selling General Administrative is likely to drop slightly above 6.2
M.
New Pacific fundamental ratios Correlations
Click cells to compare fundamentals
New Pacific Account Relationship Matchups
High Positive Relationship
High Negative Relationship
New Pacific fundamental ratios Accounts
Pair Trading with New Pacific
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 New Pacific 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 New Pacific will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to New Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace New Pacific 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 New Pacific - 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 New Pacific Metals to buy it.
The correlation of New Pacific 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 New Pacific moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if New Pacific Metals 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 New Pacific 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.
Additional Tools for New Stock Analysis
When running New Pacific's price analysis, check to
measure New Pacific's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy New Pacific is operating at the current time. Most of New Pacific's value examination focuses on studying past and present price action to
predict the probability of New Pacific's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Pacific's price. Additionally, you may evaluate how the addition of New Pacific to your portfolios can decrease your overall portfolio volatility.