NGEx Capital Expenditures vs Depreciation Analysis
| NGEX Stock | 13.32 0.23 1.76% |
NGEx Minerals financial indicator trend analysis is infinitely more than just investigating NGEx Minerals recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NGEx Minerals is a good investment. Please check the relationship between NGEx Minerals Capital Expenditures and its Depreciation accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NGEx Minerals. 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.
Capital Expenditures vs Depreciation
Capital Expenditures vs Depreciation Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NGEx Minerals Capital Expenditures account and Depreciation. At this time, the significance of the direction appears to have almost identical trend.
The correlation between NGEx Minerals' Capital Expenditures and Depreciation is 0.91. Overlapping area represents the amount of variation of Capital Expenditures that can explain the historical movement of Depreciation in the same time period over historical financial statements of NGEx Minerals, assuming nothing else is changed. The correlation between historical values of NGEx Minerals' Capital Expenditures and Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Capital Expenditures of NGEx Minerals are associated (or correlated) with its Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Depreciation has no effect on the direction of Capital Expenditures i.e., NGEx Minerals' Capital Expenditures and Depreciation go up and down completely randomly.
Correlation Coefficient | 0.91 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Capital Expenditures
Capital Expenditures are funds used by NGEx Minerals to acquire physical assets such as property, industrial buildings or equipment. This type of outlay is used by management to increase the scope of NGEx Minerals operations. These expenditures can include everything from repairing an office equipment, building a brand new facility, or writing new software.Depreciation
Depreciation indicates how much of NGEx Minerals value has been used up. For tax purposes NGEx Minerals can deduct the cost of the tangible assets it purchases as business expenses. However, NGEx Minerals must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.Most indicators from NGEx Minerals' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NGEx Minerals 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 NGEx Minerals. 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, NGEx Minerals' Selling General Administrative is very stable compared to the past year. As of the 20th of December 2024, Issuance Of Capital Stock is likely to grow to about 89.9 M, while Enterprise Value Over EBITDA is likely to drop (29.22).
NGEx Minerals fundamental ratios Correlations
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NGEx Minerals Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with NGEx Minerals
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 NGEx Minerals 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 NGEx Minerals will appreciate offsetting losses from the drop in the long position's value.Moving against NGEx Stock
The ability to find closely correlated positions to NGEx Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NGEx Minerals 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 NGEx Minerals - 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 NGEx Minerals to buy it.
The correlation of NGEx Minerals 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 NGEx Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NGEx Minerals 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 NGEx Minerals 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 NGEx Stock
Balance Sheet is a snapshot of the financial position of NGEx Minerals at a specified time, usually calculated after every quarter, six months, or one year. NGEx Minerals Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of NGEx Minerals and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which NGEx currently owns. An asset can also be divided into two categories, current and non-current.