Edison Cobalt Corp Stock Z Score
EDDYF Stock | USD 0.09 0.01 11.37% |
Edison |
Edison Cobalt Corp OTC Stock Z Score Analysis
Edison Cobalt's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
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To calculate a Z-Score, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. Z-Scores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize z-scores proved it to be successful as a predictor of corporate bankruptcy.
Competition |
According to the company's disclosures, Edison Cobalt Corp has a Z Score of 0.0. This is 100.0% lower than that of the Basic Materials sector and about the same as Other Industrial Metals & Mining (which currently averages 0.0) industry. The z score for all United States stocks is 100.0% higher than that of the company.
Edison Z Score Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Edison Cobalt's direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the otc stocks which would be a good addition to a portfolio. Peer analysis of Edison Cobalt could also be used in its relative valuation, which is a method of valuing Edison Cobalt by comparing valuation metrics of similar companies.Edison Cobalt is currently under evaluation in z score category among related companies.
Edison Fundamentals
Return On Equity | -0.14 | |||
Return On Asset | -0.0907 | |||
Current Valuation | 2.3 M | |||
Shares Outstanding | 115.18 M | |||
Shares Owned By Insiders | 1.00 % | |||
Price To Book | 0.63 X | |||
Gross Profit | (10.91 K) | |||
EBITDA | (1.53 M) | |||
Net Income | (1.45 M) | |||
Cash And Equivalents | 2.64 M | |||
Cash Per Share | 0.02 X | |||
Current Ratio | 17.06 X | |||
Book Value Per Share | 0.09 X | |||
Cash Flow From Operations | (1.09 M) | |||
Earnings Per Share | (0.01) X | |||
Beta | 0.67 | |||
Market Capitalization | 4.87 M | |||
Total Asset | 9.85 M | |||
Net Asset | 9.85 M |
About Edison Cobalt Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Edison Cobalt Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Edison Cobalt using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Edison Cobalt Corp based on its fundamental data. In general, a quantitative approach, as applied to this otc stock, 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 Edison Cobalt
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 Edison Cobalt 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 Edison Cobalt will appreciate offsetting losses from the drop in the long position's value.Moving against Edison OTC Stock
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0.5 | GLCNF | Glencore PLC | PairCorr |
0.5 | GLNCY | Glencore PLC ADR | PairCorr |
The ability to find closely correlated positions to Edison Cobalt could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Edison Cobalt 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 Edison Cobalt - 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 Edison Cobalt Corp to buy it.
The correlation of Edison Cobalt 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 Edison Cobalt moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Edison Cobalt Corp 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 Edison Cobalt 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.Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Edison Cobalt Corp. Also, note that the market value of any otc stock could be tightly coupled with the direction of predictive economic indicators such as signals in manufacturing. You can also try the My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Complementary Tools for Edison OTC Stock analysis
When running Edison Cobalt's price analysis, check to measure Edison Cobalt'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 Edison Cobalt is operating at the current time. Most of Edison Cobalt's value examination focuses on studying past and present price action to predict the probability of Edison Cobalt's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Edison Cobalt's price. Additionally, you may evaluate how the addition of Edison Cobalt to your portfolios can decrease your overall portfolio volatility.
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