NovaGold Retained Earnings vs Current Deferred Revenue Analysis

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NovaGold Resources financial indicator trend analysis is infinitely more than just investigating NovaGold Resources recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NovaGold Resources is a good investment. Please check the relationship between NovaGold Resources Retained Earnings and its Current Deferred Revenue accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaGold Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.

Retained Earnings vs Current Deferred Revenue

Retained Earnings vs Current Deferred Revenue Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NovaGold Resources Retained Earnings account and Current Deferred Revenue. At this time, the significance of the direction appears to have strong contrarian relationship.

The correlation between NovaGold Resources' Retained Earnings and Current Deferred Revenue is -0.62. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Current Deferred Revenue in the same time period over historical financial statements of NovaGold Resources, assuming nothing else is changed. The correlation between historical values of NovaGold Resources' Retained Earnings and Current Deferred Revenue is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of NovaGold Resources are associated (or correlated) with its Current Deferred Revenue. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Current Deferred Revenue has no effect on the direction of Retained Earnings i.e., NovaGold Resources' Retained Earnings and Current Deferred Revenue go up and down completely randomly.

Correlation Coefficient

-0.62

Relationship Direction	Negative
Relationship Strength	Weak

View All Relationships

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.

Current Deferred Revenue

Revenue that has been collected but not yet earned, typically from prepaid service contracts or subscriptions. This amount is considered a liability until the service is provided or the subscription period ends.

Most indicators from NovaGold Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NovaGold Resources 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 NovaGold Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.At this time, NovaGold Resources' Selling General Administrative is very stable compared to the past year. As of the 27th of November 2024, Sales General And Administrative To Revenue is likely to grow to 209.39, while Tax Provision is likely to drop about 33.3 K.

NovaGold Resources fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Net Receivables	Inventory	Other Assets	Short Term Investments
Total Assets		0.23	0.58	0.57	0.98	0.64	-0.49	-0.61	-0.14	-0.27	0.58	0.96	-0.25	0.66	0.32	0.02	0.64	0.53	0.42	0.64	0.59	0.6	-0.14	-0.29	0.14	0.52
Short Long Term Debt Total	0.23		0.12	0.06	0.15	-0.04	0.51	0.23	-0.64	0.08	0.04	0.13	0.45	0.44	0.7	0.54	-0.2	0.1	0.52	-0.04	0.4	0.57	-0.06	0.22	0.26	0.71
Other Current Liab	0.58	0.12		0.99	0.5	-0.14	-0.43	-0.77	0.03	-0.32	0.93	0.47	-0.13	0.65	0.0	-0.2	0.09	0.99	0.54	-0.14	0.58	0.23	-0.14	-0.43	-0.14	0.33
Total Current Liabilities	0.57	0.06	0.99		0.5	-0.14	-0.5	-0.8	0.09	-0.34	0.92	0.46	-0.14	0.62	-0.05	-0.26	0.1	0.99	0.5	-0.14	0.56	0.17	-0.09	-0.45	-0.15	0.29
Total Stockholder Equity	0.98	0.15	0.5	0.5		0.72	-0.58	-0.65	0.01	-0.19	0.47	0.98	-0.26	0.55	0.2	-0.12	0.67	0.45	0.24	0.72	0.48	0.64	-0.15	-0.39	0.16	0.43
Property Plant And Equipment Net	0.64	-0.04	-0.14	-0.14	0.72		-0.34	-0.11	0.09	0.04	-0.17	0.79	-0.5	-0.01	0.12	0.01	0.66	-0.2	-0.11	1.0	-0.09	0.43	-0.22	-0.09	0.28	0.06
Current Deferred Revenue	-0.49	0.51	-0.43	-0.5	-0.58	-0.34		0.76	-0.62	0.33	-0.4	-0.53	0.36	-0.21	0.45	0.58	-0.67	-0.42	0.19	-0.34	-0.14	-0.18	0.16	0.58	0.2	0.02
Net Debt	-0.61	0.23	-0.77	-0.8	-0.65	-0.11	0.76		-0.39	0.18	-0.75	-0.57	0.22	-0.46	0.25	0.53	-0.33	-0.77	-0.08	-0.11	-0.42	-0.24	0.05	0.77	0.13	-0.06
Retained Earnings	-0.14	-0.64	0.03	0.09	0.01	0.09	-0.62	-0.39		0.18	-0.15	0.04	-0.33	-0.52	-0.91	-0.88	0.05	0.07	-0.74	0.09	-0.57	-0.03	-0.2	-0.55	-0.12	-0.56
Accounts Payable	-0.27	0.08	-0.32	-0.34	-0.19	0.04	0.33	0.18	0.18		-0.41	-0.16	-0.05	-0.43	-0.16	-0.15	-0.41	-0.29	-0.39	0.04	-0.41	0.03	0.05	0.0	-0.02	-0.31
Cash	0.58	0.04	0.93	0.92	0.47	-0.17	-0.4	-0.75	-0.15	-0.41		0.4	-0.09	0.78	0.15	-0.04	0.18	0.91	0.65	-0.17	0.75	0.07	0.0	-0.35	-0.22	0.36
Non Current Assets Total	0.96	0.13	0.47	0.46	0.98	0.79	-0.53	-0.57	0.04	-0.16	0.4		-0.36	0.44	0.16	-0.11	0.62	0.41	0.22	0.79	0.33	0.61	-0.26	-0.36	0.24	0.35
Non Currrent Assets Other	-0.25	0.45	-0.13	-0.14	-0.26	-0.5	0.36	0.22	-0.33	-0.05	-0.09	-0.36		0.23	0.25	0.17	-0.27	-0.11	0.04	-0.5	0.21	0.17	-0.02	0.13	0.15	0.45
Cash And Short Term Investments	0.66	0.44	0.65	0.62	0.55	-0.01	-0.21	-0.46	-0.52	-0.43	0.78	0.44	0.23		0.59	0.36	0.39	0.6	0.77	-0.01	0.94	0.37	-0.05	-0.13	-0.16	0.82
Common Stock Shares Outstanding	0.32	0.7	0.0	-0.05	0.2	0.12	0.45	0.25	-0.91	-0.16	0.15	0.16	0.25	0.59		0.91	0.1	-0.05	0.76	0.12	0.62	0.17	0.15	0.43	0.16	0.61
Non Current Liabilities Total	0.02	0.54	-0.2	-0.26	-0.12	0.01	0.58	0.53	-0.88	-0.15	-0.04	-0.11	0.17	0.36	0.91		0.0	-0.25	0.7	0.01	0.39	-0.09	0.12	0.64	0.08	0.42
Other Current Assets	0.64	-0.2	0.09	0.1	0.67	0.66	-0.67	-0.33	0.05	-0.41	0.18	0.62	-0.27	0.39	0.1	0.0		0.02	0.06	0.66	0.34	0.38	-0.1	-0.09	-0.08	0.33
Other Stockholder Equity	0.53	0.1	0.99	0.99	0.45	-0.2	-0.42	-0.77	0.07	-0.29	0.91	0.41	-0.11	0.6	-0.05	-0.25	0.02		0.5	-0.2	0.55	0.19	-0.08	-0.44	-0.14	0.27
Total Liab	0.42	0.52	0.54	0.5	0.24	-0.11	0.19	-0.08	-0.74	-0.39	0.65	0.22	0.04	0.77	0.76	0.7	0.06	0.5		-0.11	0.75	0.03	0.03	0.29	-0.05	0.59
Property Plant And Equipment Gross	0.64	-0.04	-0.14	-0.14	0.72	1.0	-0.34	-0.11	0.09	0.04	-0.17	0.79	-0.5	-0.01	0.12	0.01	0.66	-0.2	-0.11		-0.09	0.43	-0.22	-0.09	0.28	0.06
Total Current Assets	0.59	0.4	0.58	0.56	0.48	-0.09	-0.14	-0.42	-0.57	-0.41	0.75	0.33	0.21	0.94	0.62	0.39	0.34	0.55	0.75	-0.09		0.27	0.28	0.01	-0.2	0.72
Short Term Debt	0.6	0.57	0.23	0.17	0.64	0.43	-0.18	-0.24	-0.03	0.03	0.07	0.61	0.17	0.37	0.17	-0.09	0.38	0.19	0.03	0.43	0.27		-0.26	-0.24	0.24	0.64
Net Receivables	-0.14	-0.06	-0.14	-0.09	-0.15	-0.22	0.16	0.05	-0.2	0.05	0.0	-0.26	-0.02	-0.05	0.15	0.12	-0.1	-0.08	0.03	-0.22	0.28	-0.26		0.37	-0.11	-0.19
Inventory	-0.29	0.22	-0.43	-0.45	-0.39	-0.09	0.58	0.77	-0.55	0.0	-0.35	-0.36	0.13	-0.13	0.43	0.64	-0.09	-0.44	0.29	-0.09	0.01	-0.24	0.37		-0.05	0.1
Other Assets	0.14	0.26	-0.14	-0.15	0.16	0.28	0.2	0.13	-0.12	-0.02	-0.22	0.24	0.15	-0.16	0.16	0.08	-0.08	-0.14	-0.05	0.28	-0.2	0.24	-0.11	-0.05		-0.04
Short Term Investments	0.52	0.71	0.33	0.29	0.43	0.06	0.02	-0.06	-0.56	-0.31	0.36	0.35	0.45	0.82	0.61	0.42	0.33	0.27	0.59	0.06	0.72	0.64	-0.19	0.1	-0.04

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NovaGold Resources Account Relationship Matchups

NovaGold Resources fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	224.4M	198.9M	159.2M	133.3M	153.3M	145.6M
Short Long Term Debt Total	110.4M	116.1M	124.6M	137.5M	158.2M	82.5M
Other Current Liab	182K	3.5M	3.7M	3.0M	3.5M	3.3M
Total Current Liabilities	3.5M	4.4M	4.6M	3.9M	4.5M	4.3M
Total Stockholder Equity	110.7M	78.3M	29.9M	(8.2M)	(9.5M)	(9.0M)
Property Plant And Equipment Net	634K	423K	958K	898K	808.2K	767.8K
Net Debt	49.5M	25.0M	60.7M	91.8M	105.6M	110.8M
Retained Earnings	(1.9B)	(2.0B)	(2.0B)	(2.1B)	(1.9B)	(1.8B)
Accounts Payable	900K	682K	769K	703K	632.7K	601.1K
Cash	60.9M	91.1M	63.9M	45.7M	52.6M	56.7M
Non Current Assets Total	28.1M	29.4M	6.7M	6.1M	7.0M	6.6M
Non Currrent Assets Other	89.5M	92.7M	23.4M	23.6M	27.1M	21.0M
Cash And Short Term Investments	121.9M	169.1M	125.9M	125.7M	144.6M	94.2M
Common Stock Shares Outstanding	329.3M	331.5M	333.2M	334.1M	384.2M	200.8M
Liabilities And Stockholders Equity	224.4M	198.9M	159.2M	133.3M	153.3M	145.6M
Non Current Liabilities Total	110.2M	116.2M	124.7M	137.6M	158.2M	88.1M
Other Current Assets	74.5K	327.0	1.3M	1.5K	1.7K	1.6K
Other Stockholder Equity	81.2M	82.2M	82.9M	88.6M	101.9M	96.8M
Total Liab	113.7M	120.6M	129.3M	141.5M	162.7M	107.2M
Property Plant And Equipment Gross	634K	423K	958K	898K	808.2K	767.8K
Total Current Assets	196.4M	169.5M	152.5M	127.2M	146.3M	102.2M
Accumulated Other Comprehensive Income	(23.9M)	(23.3M)	(24.4M)	(24.5M)	(22.0M)	(20.9M)
Short Term Debt	207K	224K	142K	192K	220.8K	209.8K
Net Receivables	73.2M	302K	25.4M	345K	396.8K	376.9K
Short Term Investments	61M	78M	62M	80M	92M	74.9M
Common Stock	2.0B	2.0B	2.0B	2.0B	2.3B	1.8B
Long Term Debt	109.8M	115.7M	123.7M	136.7M	157.3M	110.3M
Long Term Investments	4.0M	5.4M	5.7M	5.2M	4.7M	4.4M
Other Liab	80K	751K	280K	200K	180K	171K
Net Tangible Assets	138.0M	110.7M	78.3M	29.9M	26.9M	25.6M
Property Plant Equipment	42K	634K	423K	958K	862.2K	819.1K
Long Term Debt Total	103.8M	109.8M	115.7M	123.7M	142.2M	110.6M
Capital Surpluse	82.3M	81.2M	82.2M	82.9M	95.3M	91.2M
Cash And Equivalents	67.5M	60.9M	91.1M	63.9M	73.5M	57.0M

Pair Trading with NovaGold Resources

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 NovaGold Resources 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 NovaGold Resources will appreciate offsetting losses from the drop in the long position's value.

Moving against NovaGold Stock

0.65	FDY	Faraday Copper Corp	Pair Corr
0.62	IE	Ivanhoe Energy	Pair Corr
0.55	NVDA	NVIDIA CDR	Pair Corr
0.53	META	Meta Platforms CDR	Pair Corr
0.51	WMT	Walmart Inc CDR	Pair Corr

The ability to find closely correlated positions to NovaGold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NovaGold Resources 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 NovaGold Resources - 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 NovaGold Resources to buy it.

The correlation of NovaGold Resources 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 NovaGold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NovaGold Resources 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 NovaGold Resources 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 Correlation Correlation Matching

When determining whether NovaGold Resources is a strong investment it is important to analyze NovaGold Resources' competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact NovaGold Resources' future performance. For an informed investment choice regarding NovaGold Stock, refer to the following important reports:

How To Invest In NovaGold

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Is NovaGold Stock a good investment?

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What is NovaGold Resources' Net Worth?

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Largest Metals & Mining Companies

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Largest Materials Companies

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Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaGold Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in NovaGold Stock, please use our How to Invest in NovaGold Resources guide.

You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.

Please note, there is a significant difference between NovaGold Resources' value and its price as these two are different measures arrived at by different means. Investors typically determine if NovaGold Resources is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NovaGold Resources' 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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

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NovaGold Retained Earnings vs Current Deferred Revenue Analysis

Retained Earnings vs Current Deferred Revenue

Retained Earnings vs Current Deferred Revenue Correlation Analysis

Correlation Coefficient

Retained Earnings

Current Deferred Revenue

NovaGold Resources fundamental ratios Correlations

NovaGold Resources Account Relationship Matchups

High Positive Relationship

High Negative Relationship

NovaGold Resources fundamental ratios Accounts

Pair Trading with NovaGold Resources

Moving against NovaGold Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Property Plant And Equipment Gross	+ 1.0	Property Plant And Equipment Net
Total Current Liabilities	+ 0.99	Other Current Liab
Other Stockholder Equity	+ 0.99	Other Current Liab
Other Stockholder Equity	+ 0.99	Total Current Liabilities
Total Stockholder Equity	+ 0.98	Total Assets
Non Current Assets Total	+ 0.98	Total Stockholder Equity

Common Stock Shares Outstanding	- 0.91	Retained Earnings
Non Current Liabilities Total	- 0.88	Retained Earnings
Net Debt	- 0.8	Total Current Liabilities
Other Stockholder Equity	- 0.77	Net Debt
Net Debt	- 0.77	Other Current Liab
Cash	- 0.75	Net Debt