NextSource Non Current Liabilities Total vs Total Current Assets Analysis

NEXT Stock  CAD 0.52  0.02  4.00%   
NextSource Materials financial indicator trend analysis is infinitely more than just investigating NextSource Materials recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NextSource Materials is a good investment. Please check the relationship between NextSource Materials Non Current Liabilities Total and its Total Current Assets accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NextSource Materials. 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.

Non Current Liabilities Total vs Total Current Assets

Non Current Liabilities Total vs Total Current Assets Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NextSource Materials Non Current Liabilities Total account and Total Current Assets. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between NextSource Materials' Non Current Liabilities Total and Total Current Assets is 0.45. Overlapping area represents the amount of variation of Non Current Liabilities Total that can explain the historical movement of Total Current Assets in the same time period over historical financial statements of NextSource Materials, assuming nothing else is changed. The correlation between historical values of NextSource Materials' Non Current Liabilities Total and Total Current 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 Non Current Liabilities Total of NextSource Materials are associated (or correlated) with its Total Current Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Assets has no effect on the direction of Non Current Liabilities Total i.e., NextSource Materials' Non Current Liabilities Total and Total Current Assets go up and down completely randomly.

Correlation Coefficient

0.45
Relationship DirectionPositive 
Relationship StrengthWeak

Non Current Liabilities Total

Total Current Assets

The total value of all assets that are expected to be converted into cash within one year or during the normal operating cycle.
Most indicators from NextSource Materials' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NextSource Materials 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 NextSource Materials. 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.
As of the 23rd of November 2024, Enterprise Value is likely to grow to about 121.5 M, while Selling General Administrative is likely to drop about 2.7 M.

NextSource Materials fundamental ratios Correlations

0.290.370.630.15-0.61-0.210.510.510.660.940.94-0.510.810.560.850.970.970.970.210.990.780.920.70.970.97
0.290.99-0.55-0.89-0.510.150.950.950.380.270.19-0.340.80.930.330.070.070.07-0.060.160.01-0.06-0.470.160.07
0.370.99-0.47-0.85-0.560.140.970.970.430.350.28-0.380.850.960.390.160.160.16-0.030.250.080.02-0.390.240.16
0.63-0.55-0.470.84-0.13-0.33-0.31-0.310.260.60.68-0.160.06-0.250.470.790.790.790.250.720.680.840.990.720.79
0.15-0.89-0.850.840.23-0.24-0.75-0.75-0.050.160.240.06-0.45-0.710.080.370.370.370.120.280.340.490.80.290.37
-0.61-0.51-0.56-0.130.23-0.07-0.61-0.61-0.71-0.76-0.680.29-0.7-0.62-0.71-0.52-0.52-0.520.46-0.52-0.37-0.44-0.21-0.63-0.52
-0.210.150.14-0.33-0.24-0.070.030.04-0.2-0.18-0.270.29-0.020.03-0.24-0.25-0.25-0.250.08-0.24-0.74-0.32-0.31-0.25-0.25
0.510.950.97-0.31-0.75-0.610.031.00.460.450.41-0.370.91.00.470.310.310.310.020.40.220.2-0.230.370.31
0.510.950.97-0.31-0.75-0.610.041.00.460.450.41-0.370.91.00.470.310.30.310.030.40.220.2-0.230.370.31
0.660.380.430.26-0.05-0.71-0.20.460.460.810.77-0.860.660.470.960.620.620.62-0.220.610.570.550.340.70.62
0.940.270.350.60.16-0.76-0.180.450.450.810.96-0.560.750.490.930.920.920.92-0.050.90.750.850.680.970.92
0.940.190.280.680.24-0.68-0.270.410.410.770.96-0.590.710.450.90.940.940.940.070.920.790.880.730.960.94
-0.51-0.34-0.38-0.160.060.290.29-0.37-0.37-0.86-0.56-0.59-0.53-0.38-0.8-0.47-0.47-0.47-0.12-0.48-0.49-0.4-0.22-0.51-0.47
0.810.80.850.06-0.45-0.7-0.020.90.90.660.750.71-0.530.920.740.650.650.650.090.720.480.540.150.70.65
0.560.930.96-0.25-0.71-0.620.031.01.00.470.490.45-0.380.920.50.360.360.360.060.450.260.25-0.180.420.36
0.850.330.390.470.08-0.71-0.240.470.470.960.930.9-0.80.740.50.820.820.82-0.080.810.710.760.550.870.82
0.970.070.160.790.37-0.52-0.250.310.310.620.920.94-0.470.650.360.821.01.00.220.990.810.970.840.981.0
0.970.070.160.790.37-0.52-0.250.310.30.620.920.94-0.470.650.360.821.01.00.220.990.810.970.840.981.0
0.970.070.160.790.37-0.52-0.250.310.310.620.920.94-0.470.650.360.821.01.00.220.990.810.970.840.981.0
0.21-0.06-0.030.250.120.460.080.020.03-0.22-0.050.07-0.120.090.06-0.080.220.220.220.260.020.170.190.080.23
0.990.160.250.720.28-0.52-0.240.40.40.610.90.92-0.480.720.450.810.990.990.990.260.780.960.780.970.99
0.780.010.080.680.34-0.37-0.740.220.220.570.750.79-0.490.480.260.710.810.810.810.020.780.810.710.820.81
0.92-0.060.020.840.49-0.44-0.320.20.20.550.850.88-0.40.540.250.760.970.970.970.170.960.810.890.940.97
0.7-0.47-0.390.990.8-0.21-0.31-0.23-0.230.340.680.73-0.220.15-0.180.550.840.840.840.190.780.710.890.790.84
0.970.160.240.720.29-0.63-0.250.370.370.70.970.96-0.510.70.420.870.980.980.980.080.970.820.940.790.98
0.970.070.160.790.37-0.52-0.250.310.310.620.920.94-0.470.650.360.821.01.01.00.230.990.810.970.840.98
Click cells to compare fundamentals

NextSource Materials Account Relationship Matchups

NextSource Materials fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets273.4K26.9M29.3M53.0M60.9M64.0M
Other Current Liab822.0K45.4M21.7M3.6M4.1M5.5M
Total Current Liabilities1.2M46.7M24.3M7.9M9.1M5.3M
Total Stockholder Equity(910.6K)(26.1M)(3.1M)25.2M22.7M23.8M
Net Debt(184.2K)(22.4M)(9.4M)4.6M4.1M4.4M
Retained Earnings(104.9M)(146.9M)(130.8M)(142.5M)(128.2M)(121.8M)
Accounts Payable323.9K383.4K817.3K3.0K3.5K3.3K
Cash222.3K22.4M9.8M6.9M7.9M4.4M
Cash And Short Term Investments222.3K22.4M9.8M6.9M7.9M4.4M
Common Stock Shares Outstanding52.7M66.7M99.2M117.3M134.9M141.6M
Liabilities And Stockholders Equity273.4K26.9M29.3M53.0M60.9M64.0M
Other Current Assets25.5K53.0K96.8K172.4K155.1K147.4K
Other Stockholder Equity120.7K255.3K331.5K(26.8K)(24.1K)(22.9K)
Total Liab1.2M53.1M32.4M27.8M31.9M33.5M
Total Current Assets255.3K22.6M10.5M8.0M9.2M5.3M
Accumulated Other Comprehensive Income120.7K255.3K331.5K(1.6M)(1.4M)(1.3M)
Common Stock103.9M120.5M127.4M169.2M194.6M204.3M
Non Current Assets Total18.1K4.3M18.8M45.0M51.7M54.3M
Net Receivables7.5K92.4K574.3K494.3K444.8K295.0K
Non Current Liabilities Total10.7K6.3M8.0M19.9M22.9M24.0M
Short Term Debt27.5K5.8K51.7K1.3M1.5M1.6M
Net Tangible Assets(910.6K)(26.1M)(3.1M)25.2M29.0M30.4M
Long Term Debt Total10.7K5.3K298.1K10.2M11.7M12.3M
Cash And Equivalents222.3K22.4M9.8M6.9M7.9M5.9M
Net Invested Capital(888.5K)(26.1M)(3.1M)25.2M29.0M30.4M
Net Working Capital(918.0K)(24.1M)(13.9M)120.1K108.0K113.4K
Capital Stock103.9M120.5M127.4M169.2M194.6M137.3M

Pair Trading with NextSource Materials

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 NextSource Materials 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 NextSource Materials will appreciate offsetting losses from the drop in the long position's value.

Moving together with NextSource Stock

  0.71INFM Infinico Metals CorpPairCorr

Moving against NextSource Stock

  0.89RY Royal BankPairCorr
  0.79FDY Faraday Copper CorpPairCorr
  0.78IE Ivanhoe EnergyPairCorr
  0.78BOFA Bank of AmericaPairCorr
  0.75RY-PJ Royal BankPairCorr
The ability to find closely correlated positions to NextSource Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NextSource Materials 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 NextSource Materials - 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 NextSource Materials to buy it.
The correlation of NextSource Materials 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 NextSource Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NextSource Materials 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 NextSource Materials 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in NextSource Stock

Balance Sheet is a snapshot of the financial position of NextSource Materials at a specified time, usually calculated after every quarter, six months, or one year. NextSource Materials Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of NextSource Materials and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which NextSource currently owns. An asset can also be divided into two categories, current and non-current.