The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Newport Exploration Common Stock account and
Net Receivables. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Newport Exploration's Common Stock and Net Receivables is -0.13. Overlapping area represents the amount of variation of Common Stock that can explain the historical movement of Net Receivables in the same time period over historical financial statements of Newport Exploration, assuming nothing else is changed. The correlation between historical values of Newport Exploration's Common Stock and Net Receivables is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Common Stock of Newport Exploration are associated (or correlated) with its Net Receivables. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Receivables has no effect on the direction of Common Stock i.e., Newport Exploration's Common Stock and Net Receivables go up and down completely randomly.
Correlation Coefficient | -0.13 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Most indicators from Newport Exploration's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Newport Exploration 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 Newport Exploration. 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, Newport Exploration's
Selling General Administrative is fairly stable compared to the past year.
Enterprise Value Over EBITDA is likely to climb to 4.68 in 2024, whereas
Tax Provision is likely to drop slightly above 870.3
K in 2024.
When running Newport Exploration's price analysis, check to
measure Newport Exploration'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 Newport Exploration is operating at the current time. Most of Newport Exploration's value examination focuses on studying past and present price action to
predict the probability of Newport Exploration's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Newport Exploration's price. Additionally, you may evaluate how the addition of Newport Exploration to your portfolios can decrease your overall portfolio volatility.