Algoma Change To Liabilities vs Investments Analysis

ASTL Stock

14.34 0.04 0.28%

Algoma Steel financial indicator trend analysis is way more than just evaluating Algoma Steel Group prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Algoma Steel Group is a good investment. Please check the relationship between Algoma Steel Change To Liabilities and its Investments accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. 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.

Change To Liabilities vs Investments

Change To Liabilities vs Investments Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Algoma Steel Group Change To Liabilities account and Investments. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Algoma Steel's Change To Liabilities and Investments is -0.05. Overlapping area represents the amount of variation of Change To Liabilities that can explain the historical movement of Investments in the same time period over historical financial statements of Algoma Steel Group, assuming nothing else is changed. The correlation between historical values of Algoma Steel's Change To Liabilities and Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change To Liabilities of Algoma Steel Group are associated (or correlated) with its Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Investments has no effect on the direction of Change To Liabilities i.e., Algoma Steel's Change To Liabilities and Investments go up and down completely randomly.

Correlation Coefficient

-0.05

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

Change To Liabilities

Investments

Securities or assets acquired for generating income or appreciating in value, not used in daily operations.

Most indicators from Algoma Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Algoma Steel Group 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. 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, Algoma Steel's Tax Provision is very stable compared to the past year. As of the 12th of December 2024, Enterprise Value is likely to grow to about 3.4 B, while Selling General Administrative is likely to drop about 93.3 M.

	2021	2022	2023	2024 (projected)
Total Operating Expenses	103M	99.3M	114.7M	109.0M
Cost Of Revenue	2.3B	2.4B	2.5B	2.3B

Total Operating Expenses Cost Of Revenue

Algoma Steel fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Other Liab	Net Tangible Assets	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Other Assets	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets
Total Assets		-0.81	0.51	-0.03	0.86	-0.39	0.85	0.38	-0.79	0.62	0.38	0.48	0.22	-0.47	-0.51	0.48	0.61	-0.59	-0.55	0.76	-0.05	-0.67	-0.58	0.75	-0.43	-0.28
Short Long Term Debt Total	-0.81		-0.19	0.19	-0.99	0.79	-0.98	0.05	0.93	-0.92	-0.06	-0.49	0.27	0.76	0.78	-0.49	-0.86	0.82	0.81	-0.84	0.07	0.65	0.93	-0.88	0.49	0.72
Other Current Liab	0.51	-0.19		0.52	0.28	-0.17	0.31	0.51	-0.16	0.14	0.1	0.04	0.42	-0.02	-0.07	0.04	-0.03	-0.11	-0.31	0.35	0.59	0.12	-0.04	0.16	0.29	-0.02
Total Current Liabilities	-0.03	0.19	0.52		-0.15	-0.04	-0.15	0.09	0.13	-0.3	-0.09	0.03	0.11	0.23	0.23	0.03	-0.21	0.11	-0.3	-0.22	0.22	0.0	0.22	-0.1	0.88	0.12
Total Stockholder Equity	0.86	-0.99	0.28	-0.15		-0.76	1.0	0.0	-0.93	0.92	0.08	0.52	-0.23	-0.76	-0.78	0.52	0.83	-0.76	-0.8	0.85	0.04	-0.62	-0.9	0.89	-0.45	-0.69
Other Liab	-0.39	0.79	-0.17	-0.04	-0.76		-0.77	0.48	0.78	-0.88	0.49	-0.49	0.66	0.86	0.87	-0.49	-0.79	0.66	0.92	-0.62	-0.23	0.33	0.92	-0.77	0.05	0.97
Net Tangible Assets	0.85	-0.98	0.31	-0.15	1.0	-0.77		0.02	-0.92	0.93	0.07	0.48	-0.23	-0.76	-0.78	0.48	0.81	-0.76	-0.8	0.85	0.08	-0.58	-0.9	0.87	-0.44	-0.7
Property Plant And Equipment Net	0.38	0.05	0.51	0.09	0.0	0.48	0.02		0.25	-0.24	0.86	-0.52	0.94	0.58	0.54	-0.52	-0.47	0.05	0.3	0.24	0.12	0.13	0.36	-0.32	-0.13	0.59
Net Debt	-0.79	0.93	-0.16	0.13	-0.93	0.78	-0.92	0.25		-0.86	0.14	-0.77	0.41	0.88	0.88	-0.77	-0.96	0.73	0.81	-0.69	0.14	0.77	0.9	-0.99	0.41	0.73
Retained Earnings	0.62	-0.92	0.14	-0.3	0.92	-0.88	0.93	-0.24	-0.86		-0.18	0.45	-0.46	-0.87	-0.89	0.45	0.82	-0.7	-0.79	0.83	0.18	-0.41	-0.97	0.83	-0.43	-0.89
Accounts Payable	0.38	-0.06	0.1	-0.09	0.08	0.49	0.07	0.86	0.14	-0.18		-0.44	0.81	0.51	0.49	-0.44	-0.33	-0.07	0.26	0.28	-0.27	-0.19	0.22	-0.23	-0.3	0.55
Cash	0.48	-0.49	0.04	0.03	0.52	-0.49	0.48	-0.52	-0.77	0.45	-0.44		-0.51	-0.78	-0.76	1.0	0.81	-0.31	-0.54	0.17	-0.22	-0.7	-0.53	0.84	-0.13	-0.5
Non Current Assets Total	0.22	0.27	0.42	0.11	-0.23	0.66	-0.23	0.94	0.41	-0.46	0.81	-0.51		0.7	0.65	-0.51	-0.59	0.2	0.46	0.07	-0.04	0.14	0.53	-0.45	-0.04	0.73
Non Currrent Assets Other	-0.47	0.76	-0.02	0.23	-0.76	0.86	-0.76	0.58	0.88	-0.87	0.51	-0.78	0.7		1.0	-0.78	-0.92	0.54	0.75	-0.54	-0.08	0.49	0.89	-0.91	0.3	0.9
Other Assets	-0.51	0.78	-0.07	0.23	-0.78	0.87	-0.78	0.54	0.88	-0.89	0.49	-0.76	0.65	1.0		-0.76	-0.91	0.56	0.77	-0.59	-0.1	0.48	0.9	-0.92	0.31	0.9
Cash And Short Term Investments	0.48	-0.49	0.04	0.03	0.52	-0.49	0.48	-0.52	-0.77	0.45	-0.44	1.0	-0.51	-0.78	-0.76		0.81	-0.31	-0.54	0.17	-0.22	-0.7	-0.53	0.84	-0.13	-0.5
Net Receivables	0.61	-0.86	-0.03	-0.21	0.83	-0.79	0.81	-0.47	-0.96	0.82	-0.33	0.81	-0.59	-0.92	-0.91	0.81		-0.69	-0.75	0.54	-0.22	-0.72	-0.88	0.96	-0.43	-0.77
Common Stock Shares Outstanding	-0.59	0.82	-0.11	0.11	-0.76	0.66	-0.76	0.05	0.73	-0.7	-0.07	-0.31	0.2	0.54	0.56	-0.31	-0.69		0.68	-0.68	0.23	0.57	0.76	-0.66	0.37	0.57
Non Current Liabilities Total	-0.55	0.81	-0.31	-0.3	-0.8	0.92	-0.8	0.3	0.81	-0.79	0.26	-0.54	0.46	0.75	0.77	-0.54	-0.75	0.68		-0.65	-0.12	0.54	0.86	-0.8	-0.1	0.83
Inventory	0.76	-0.84	0.35	-0.22	0.85	-0.62	0.85	0.24	-0.69	0.83	0.28	0.17	0.07	-0.54	-0.59	0.17	0.54	-0.68	-0.65		0.12	-0.4	-0.79	0.64	-0.42	-0.59
Other Current Assets	-0.05	0.07	0.59	0.22	0.04	-0.23	0.08	0.12	0.14	0.18	-0.27	-0.22	-0.04	-0.08	-0.1	-0.22	-0.22	0.23	-0.12	0.12		0.65	0.0	-0.11	0.36	-0.23
Other Stockholder Equity	-0.67	0.65	0.12	0.0	-0.62	0.33	-0.58	0.13	0.77	-0.41	-0.19	-0.7	0.14	0.49	0.48	-0.7	-0.72	0.57	0.54	-0.4	0.65		0.55	-0.75	0.32	0.28
Total Liab	-0.58	0.93	-0.04	0.22	-0.9	0.92	-0.9	0.36	0.9	-0.97	0.22	-0.53	0.53	0.89	0.9	-0.53	-0.88	0.76	0.86	-0.79	0.0	0.55		-0.87	0.36	0.92
Total Current Assets	0.75	-0.88	0.16	-0.1	0.89	-0.77	0.87	-0.32	-0.99	0.83	-0.23	0.84	-0.45	-0.91	-0.92	0.84	0.96	-0.66	-0.8	0.64	-0.11	-0.75	-0.87		-0.35	-0.74
Short Term Debt	-0.43	0.49	0.29	0.88	-0.45	0.05	-0.44	-0.13	0.41	-0.43	-0.3	-0.13	-0.04	0.3	0.31	-0.13	-0.43	0.37	-0.1	-0.42	0.36	0.32	0.36	-0.35		0.11
Intangible Assets	-0.28	0.72	-0.02	0.12	-0.69	0.97	-0.7	0.59	0.73	-0.89	0.55	-0.5	0.73	0.9	0.9	-0.5	-0.77	0.57	0.83	-0.59	-0.23	0.28	0.92	-0.74	0.11

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Algoma Steel Account Relationship Matchups

Pair Trading with Algoma Steel

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 Algoma Steel 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 Algoma Steel will appreciate offsetting losses from the drop in the long position's value.

Moving against Algoma Stock

0.68	ORE	Orezone Gold Corp	Pair Corr
0.33	INFM	Infinico Metals Corp	Pair Corr

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

The correlation of Algoma Steel 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 Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group 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 Algoma Steel 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 Algoma Steel Group is a strong investment it is important to analyze Algoma Steel's 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 Algoma Steel's future performance. For an informed investment choice regarding Algoma Stock, refer to the following important reports:

How To Invest In Algoma

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Is Algoma Stock a good investment?

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What is Algoma Steel's Net Worth?

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Largest Diversified Metals & Mining Companies

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Largest Materials Companies

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. 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.

You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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

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Algoma Change To Liabilities vs Investments Analysis

Change To Liabilities vs Investments

Change To Liabilities vs Investments Correlation Analysis

Correlation Coefficient

Change To Liabilities

Investments

Algoma Steel fundamental ratios Correlations

Algoma Steel Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Pair Trading with Algoma Steel

Moving against Algoma Stock

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COMPANY

Net Tangible Assets	+ 1.0	Total Stockholder Equity
Cash And Short Term Investments	+ 1.0	Cash
Other Assets	+ 1.0	Non Currrent Assets Other
Intangible Assets	+ 0.97	Other Liab
Total Current Assets	+ 0.96	Net Receivables
Non Current Assets Total	+ 0.94	Property Plant And Equipment Net

Total Current Assets	- 0.99	Net Debt
Total Stockholder Equity	- 0.99	Short Long Term Debt Total
Net Tangible Assets	- 0.98	Short Long Term Debt Total
Total Liab	- 0.97	Retained Earnings
Net Receivables	- 0.96	Net Debt
Net Debt	- 0.93	Total Stockholder Equity