North Historical Financial Ratios

Pair Trading with North West

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

Moving against North Stock

  0.81ENB-PFC Enbridge Pref 11PairCorr
  0.76BEP-PM Brookfield RenewablePairCorr
  0.7TD Toronto Dominion BankPairCorr
  0.66CRRX CareRx Corp Earnings Call This WeekPairCorr
  0.6ATX ATEX ResourcesPairCorr
The ability to find closely correlated positions to North West 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 West 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 West - 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 West to buy it.
The correlation of North West 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 West moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if North West 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 West 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 CorrelationCorrelation Matching

Other Information on Investing in North Stock

North WestFinancial ratios are relationships based on a company's financial information. They can serve as useful tools to evaluate North West investment potential. Financial ratio analysis can also be defined as the process of presenting financial ratios, which are mathematical indicators calculated by comparing key financial information appearing on North financial statements. Financial ratios are useful tools that help investors analyze and compare relationships between different pieces of financial information across North West history.