North American Correlations
| NOA Stock | USD 22.15 0.08 0.36% |
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 Construction 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.
Very weak diversification
The correlation between North American Construction and NYA is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding North American Construction and NYA in the same portfolio, assuming nothing else is changed.
North |
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.
Moving against North Stock
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| 0.56 | HAL | Halliburton Financial Report 17th of July 2024 | PairCorr |
| 0.53 | FTK | Flotek Industries | PairCorr |
| 0.51 | FTI | TechnipFMC PLC | PairCorr |
| 0.5 | NR | Newpark Resources Financial Report 7th of May 2024 | PairCorr |
| 0.48 | BKR | Baker Hughes Financial Report 17th of July 2024 | PairCorr |
| 0.46 | CHX | ChampionX | PairCorr |
| 0.62 | NGS | Natural Gas Services Financial Report 20th of May 2024 | PairCorr |
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| 0.54 | TTI | Tetra Technologies Financial Report 6th of May 2024 | PairCorr |
Related Correlations Analysis
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Our tools can tell you how much better you can do entering a position in North American without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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North American Corporate Directors
North American corporate directors refer to members of a North American board of directors. The board of directors generally takes responsibility for the North American's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of North American's board members must vote for the resolution. The North American board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| John Pollesel | Independent Director | Profile | |
| CPA CMA | Director Technology | Profile | |
| Bryan Pinney | Lead Independent Director | Profile | |
| Kristina Williams | Independent Director | Profile |
Already Invested in North American Construction?
The danger of trading North American Construction is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of North American is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than North American. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile North American Const is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether North American Const offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of North American's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of North American Construction Stock. Outlined below are crucial reports that will aid in making a well-informed decision on North American Construction Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in North American Construction. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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When running North American's price analysis, check to measure North American's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy North American is operating at the current time. Most of North American's value examination focuses on studying past and present price action to predict the probability of North American's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move North American's price. Additionally, you may evaluate how the addition of North American to your portfolios can decrease your overall portfolio volatility.
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Is North American's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of North American. If investors know North will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about North American listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.35) | Dividend Share 0.4 | Earnings Share 1.53 | Revenue Per Share 36.031 | Quarterly Revenue Growth 0.398 |
The market value of North American Const is measured differently than its book value, which is the value of North that is recorded on the company's balance sheet. Investors also form their own opinion of North American's value that differs from its market value or its book value, called intrinsic value, which is North American's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because North American's market value can be influenced by many factors that don't directly affect North American's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between North American's value and its price as these two are different measures arrived at by different means. Investors typically determine if North American is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, North American'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.