Algonquin Power Utilities Preferred Stock Year To Date Return
| AQN-PD Preferred Stock | CAD 24.25 0.04 0.17% |
Algonquin Power Utilities fundamentals help investors to digest information that contributes to Algonquin Power's financial success or failures. It also enables traders to predict the movement of Algonquin Preferred Stock. The fundamental analysis module provides a way to measure Algonquin Power's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Algonquin Power preferred stock.
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Algonquin Power Utilities Company Year To Date Return Analysis
Algonquin Power's Year to Date Return (YTD) is the total return generated from holding a security from the beginning of the current fiscal year. In other words, YTD Return represents the capital appreciation of your investments from the start of the current fiscal year.
More About Year To Date Return | All Equity Analysis
YTD Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Year-To-Date typically refers to a period starting from the beginning of the current year and continuing up to the present day. Investors should becareful when comparing YTD ratios if not much of the year has occurred as research shows that YTD measures are more sensitive to early periods than late.
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In accordance with the company's disclosures, Algonquin Power Utilities has a Year To Date Return of 0.0%. This indicator is about the same for the Electric Utilities average (which is currently at 0.0) sector and about the same as Utilities (which currently averages 0.0) industry. This indicator is about the same for all Canada preferred stocks average (which is currently at 0.0).
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Algonquin Fundamentals
| Revenue | 2.7 B | ||||
| EBITDA | 379.6 M | ||||
| Net Income | 28.67 M | ||||
| Total Debt | 621.86 M | ||||
| Cash Flow From Operations | 628.03 M | ||||
| Total Asset | 18.37 B | ||||
| Retained Earnings | (1.28 B) | ||||
| Working Capital | (618.84 M) | ||||
| Annual Yield | 0.05 % | ||||
| Net Asset | 18.37 B |
About Algonquin Power Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Algonquin Power Utilities's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Algonquin Power using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Algonquin Power Utilities based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Pair Trading with Algonquin Power
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 Algonquin Power 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 Algonquin Power will appreciate offsetting losses from the drop in the long position's value.Moving against Algonquin Preferred Stock
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| 0.31 | JPM | JPMorgan Chase | PairCorr |
The ability to find closely correlated positions to Algonquin Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algonquin Power 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 Algonquin Power - 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 Algonquin Power Utilities to buy it.
The correlation of Algonquin Power 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 Algonquin Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algonquin Power Utilities 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 Algonquin Power 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.Other Information on Investing in Algonquin Preferred Stock
Algonquin Power financial ratios help investors to determine whether Algonquin Preferred Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Algonquin with respect to the benefits of owning Algonquin Power security.