North End Period Cash Flow from 2010 to 2024
| NOA Stock | CAD 28.00 0.64 2.34% |
End Period Cash Flow | First Reported 2006-06-30 | Previous Quarter 68.3 M | Current Value 77.7 M | Quarterly Volatility 28.4 M |
Check North American financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among North American's main balance sheet or income statement drivers, such as Interest Expense of 28 M, Total Revenue of 605 M or Gross Profit of 90.1 M, as well as many indicators such as Price To Sales Ratio of 0.83, Dividend Yield of 0.0151 or PTB Ratio of 1.96. North financial statements analysis is a perfect complement when working with North American Valuation or Volatility modules.
North | End Period Cash Flow |
Pair Trading with North American
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 North American 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 North American will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to North American could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace North American 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 North American - 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 North American Construction to buy it.
The correlation of North American 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 North American moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if North American Const 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 North American 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 the analysis of North American Correlation against competitors. You can also try the Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.