NovaGold Resources Ownership
| NG Stock | CAD 5.07 0.02 0.40% |
Shares in Circulation | First Issued 1997-03-31 | Previous Quarter 334.4 M | Current Value 334.4 M | Avarage Shares Outstanding 190.5 M | Quarterly Volatility 133 M |
Please note, institutional investors have a lot of resources and new technology at their disposal. They can put in a lot of research and financial analysis when reviewing investment options. There are many different types of institutional investors, including banks, hedge funds, insurance companies, and pension plans. One of the main advantages they have over retail investors is the fees paid for trades. As they are buying in large quantities, they can manage their cost more effectively.
NovaGold |
NovaGold Stock Ownership Analysis
About 26.0% of the company outstanding shares are owned by corporate insiders. The company recorded a loss per share of 0.2. NovaGold Resources last dividend was issued on the 28th of June 1999. The entity had 1:10 split on the 17th of December 1997. NovaGold Resources Inc. primarily explores for and develops gold mineral properties in the United States. NovaGold Resources Inc. was founded in 1984 and is based in Vancouver, Canada. NOVAGOLD RES operates under Gold classification in Canada and is traded on Toronto Stock Exchange. It employs 12 people. To find out more about NovaGold Resources contact Gregory Lang at 604 669 6227 or learn more at https://www.novagold.com.NovaGold Resources Outstanding Bonds
NovaGold Resources issues bonds to finance its operations. Corporate bonds make up one of the largest components of the U.S. bond market, which is considered the world's largest securities market. NovaGold Resources uses the proceeds from bond sales for a wide variety of purposes, including financing ongoing mergers and acquisitions, buying new equipment, investing in research and development, buying back their own stock, paying dividends to shareholders, and even refinancing existing debt. Most NovaGold bonds can be classified according to their maturity, which is the date when NovaGold Resources has to pay back the principal to investors. Maturities can be short-term, medium-term, or long-term (more than ten years). Longer-term bonds usually offer higher interest rates but may entail additional risks.
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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 | PairCorr |
| 0.63 | IE | Ivanhoe Energy | PairCorr |
| 0.54 | WMT | Walmart Inc CDR | PairCorr |
| 0.53 | NVDA | NVIDIA CDR | PairCorr |
| 0.53 | META | Meta Platforms CDR | PairCorr |
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.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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.