NewJersey Short Term Debt vs Capital Surpluse Analysis

NJR Stock  USD 46.51  0.48  1.04%   
NewJersey Resources financial indicator trend analysis is infinitely more than just investigating NewJersey Resources recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NewJersey Resources is a good investment. Please check the relationship between NewJersey Resources Short Term Debt and its Capital Surpluse accounts. Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NewJersey Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.
To learn how to invest in NewJersey Stock, please use our How to Invest in NewJersey Resources guide.

Short Term Debt vs Capital Surpluse

Short Term Debt vs Capital Surpluse Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of NewJersey Resources Short Term Debt account and Capital Surpluse. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between NewJersey Resources' Short Term Debt and Capital Surpluse is 0.51. Overlapping area represents the amount of variation of Short Term Debt that can explain the historical movement of Capital Surpluse in the same time period over historical financial statements of NewJersey Resources, assuming nothing else is changed. The correlation between historical values of NewJersey Resources' Short Term Debt and Capital Surpluse is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Short Term Debt of NewJersey Resources are associated (or correlated) with its Capital Surpluse. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Capital Surpluse has no effect on the direction of Short Term Debt i.e., NewJersey Resources' Short Term Debt and Capital Surpluse go up and down completely randomly.

Correlation Coefficient

0.51
Relationship DirectionPositive 
Relationship StrengthWeak

Short Term Debt

Capital Surpluse

Most indicators from NewJersey Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NewJersey Resources 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 NewJersey Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in inflation.
To learn how to invest in NewJersey Stock, please use our How to Invest in NewJersey Resources guide.At this time, NewJersey Resources' Tax Provision is relatively stable compared to the past year. As of 12/23/2024, Issuance Of Capital Stock is likely to grow to about 60.2 M, while Selling General Administrative is likely to drop slightly above 38.1 M.
 2021 2022 2023 2024 (projected)
Gross Profit595.2M610.5M696.5M389.5M
Total Revenue2.9B2.0B1.8B1.9B

NewJersey Resources fundamental ratios Correlations

0.740.590.690.720.720.680.590.660.150.690.010.150.610.050.690.650.570.580.740.620.770.480.04-0.060.82
0.740.980.790.580.991.00.980.230.071.00.550.070.270.580.990.350.870.951.00.980.380.630.260.380.93
0.590.980.760.530.950.991.00.110.080.980.630.080.170.640.980.240.920.980.980.990.230.620.320.520.84
0.690.790.760.660.730.780.760.510.110.770.150.110.540.320.770.380.710.740.810.750.490.530.150.140.69
0.720.580.530.660.50.550.540.77-0.220.530.15-0.220.8-0.090.480.760.560.490.620.530.740.86-0.090.210.52
0.720.990.950.730.50.980.950.190.060.990.580.060.210.610.980.290.810.930.980.970.350.550.280.330.96
0.681.00.990.780.550.980.990.180.051.00.590.050.220.620.990.290.890.960.990.990.310.610.30.430.91
0.590.981.00.760.540.950.990.110.050.980.640.050.170.640.980.250.920.980.980.990.230.630.320.520.84
0.660.230.110.510.770.190.180.11-0.070.17-0.35-0.070.91-0.30.140.630.170.090.250.110.820.38-0.08-0.240.3
0.150.070.080.11-0.220.060.050.05-0.070.06-0.311.0-0.070.10.14-0.140.210.130.070.00.06-0.310.2-0.260.02
0.691.00.980.770.530.991.00.980.170.060.590.060.20.631.00.280.880.960.990.990.310.60.30.420.92
0.010.550.630.150.150.580.590.64-0.35-0.310.59-0.31-0.270.660.56-0.110.470.570.540.64-0.180.460.330.670.47
0.150.070.080.11-0.220.060.050.05-0.071.00.06-0.31-0.070.10.14-0.140.210.130.070.00.06-0.310.2-0.260.02
0.610.270.170.540.80.210.220.170.91-0.070.2-0.27-0.07-0.320.170.740.190.150.30.170.870.57-0.28-0.230.3
0.050.580.640.32-0.090.610.620.64-0.30.10.630.660.1-0.320.64-0.510.580.570.560.63-0.350.050.770.370.5
0.690.990.980.770.480.980.990.980.140.141.00.560.140.170.640.250.890.960.990.980.280.540.330.410.91
0.650.350.240.380.760.290.290.250.63-0.140.28-0.11-0.140.74-0.510.250.230.270.370.270.840.68-0.60.010.38
0.570.870.920.710.560.810.890.920.170.210.880.470.210.190.580.890.230.90.890.90.190.580.420.570.67
0.580.950.980.740.490.930.960.980.090.130.960.570.130.150.570.960.270.90.960.970.230.60.220.480.81
0.741.00.980.810.620.980.990.980.250.070.990.540.070.30.560.990.370.890.960.980.390.650.250.40.91
0.620.980.990.750.530.970.990.990.110.00.990.640.00.170.630.980.270.90.970.980.250.640.280.490.87
0.770.380.230.490.740.350.310.230.820.060.31-0.180.060.87-0.350.280.840.190.230.390.250.53-0.38-0.240.49
0.480.630.620.530.860.550.610.630.38-0.310.60.46-0.310.570.050.540.680.580.60.650.640.53-0.230.360.5
0.040.260.320.15-0.090.280.30.32-0.080.20.30.330.2-0.280.770.33-0.60.420.220.250.28-0.38-0.230.280.2
-0.060.380.520.140.210.330.430.52-0.24-0.260.420.67-0.26-0.230.370.410.010.570.480.40.49-0.240.360.280.16
0.820.930.840.690.520.960.910.840.30.020.920.470.020.30.50.910.380.670.810.910.870.490.50.20.16
Click cells to compare fundamentals

NewJersey Resources Account Relationship Matchups

NewJersey Resources fundamental ratios Accounts

201920202021202220232024 (projected)
Common Stock Shares Outstanding95.1M96.6M96.5M97.6M99.3M85.4M
Total Assets5.3B5.7B6.3B6.5B7.0B7.3B
Short Long Term Debt Total2.5B2.8B3.1B3.3B3.5B3.7B
Other Current Liab133.5M200.6M167.4M158.2M97.0M161.3M
Total Current Liabilities533.7M1.1B1.1B806.6M887.8M644.9M
Total Stockholder Equity1.6B1.6B1.8B2.0B2.2B2.3B
Property Plant And Equipment Net3.9B4.4B4.8B5.2B5.6B5.9B
Net Debt2.4B2.8B3.1B3.3B3.5B3.7B
Accounts Payable238.2M393.1M392.5M203.9M226.7M159.5M
Cash117.0M4.7M1.1M954K1.0M966.2K
Non Current Assets Total4.7B5.1B5.5B6.0B6.4B6.7B
Non Currrent Assets Other85.7M49.9M490.2M666.7M706.3M741.6M
Cash And Short Term Investments117.0M4.7M1.1M954K1.0M966.2K
Net Receivables160.5M249.7M271.2M120.7M117.1M160.1M
Common Stock Total Equity226.6M240.2M240.6M241.6M277.9M291.8M
Liabilities And Stockholders Equity5.3B5.7B6.3B6.5B7.0B7.3B
Non Current Liabilities Total3.1B3.0B3.3B3.7B3.9B4.1B
Inventory187.9M213.2M294.0M226.5M237.6M235.6M
Other Current Assets157.0M166.6M189.8M156.0M198.9M145.2M
Other Stockholder Equity500.5M490.1M512.9M558.7M660.0M693.0M
Total Liab3.7B4.1B4.4B4.5B4.8B5.0B
Property Plant And Equipment Gross4.1B5.2B5.7B6.2B7.1B7.4B
Total Current Assets622.3M634.3M756.1M532.1M554.6M605.5M
Short Term Debt159.3M454.4M503.6M373.0M493.3M517.9M
Common Stock240.2M240.6M241.6M243.5M248.2M145.5M
Current Deferred Revenue25.9M32.6M68.8M61.4M60.2M44.2M
Retained Earnings947.5M934.6M1.1B1.2B1.3B1.4B
Accumulated Other Comprehensive Income(44.3M)(34.5M)(4.8M)10.8M(6.5M)(6.8M)
Other Liab836.9M736.5M716.3M824.1M947.7M542.6M
Other Assets609.5M575.4M571.8M695.0M799.3M465.4M
Long Term Debt2.2B2.2B2.5B2.8B3.2B3.3B
Treasury Stock(76.5M)(10.4M)8.5M(12.4M)(11.2M)(11.8M)
Property Plant Equipment4.1B4.4B4.8B5.2B6.0B6.3B
Net Tangible Assets4.1B3.8B1.8B2.0B2.3B2.3B
Long Term Debt Total1.5B2.3B2.2B2.5B2.9B3.0B
Deferred Long Term Liab207.3M180.0M500.7M584.8M672.6M706.2M
Long Term Investments208.4M114.5M106.6M104.1M93.7M140.9M
Non Current Liabilities Other724.6M697.8M9.1M13.3M11.9M11.3M

Pair Trading with NewJersey Resources

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

Moving together with NewJersey Stock

  0.87NI NiSourcePairCorr
  0.95SR Spire IncPairCorr
  0.82ATO Atmos EnergyPairCorr
  0.92BKH Black Hills Sell-off TrendPairCorr
  0.95CPK Chesapeake UtilitiesPairCorr

Moving against NewJersey Stock

  0.55CMS-PB Consumers EnergyPairCorr
  0.46DUKB Duke Energy CorpPairCorr
  0.36CMS-PC CMS EnergyPairCorr
The ability to find closely correlated positions to NewJersey Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NewJersey Resources 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 NewJersey Resources - 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 NewJersey Resources to buy it.
The correlation of NewJersey Resources 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 NewJersey Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NewJersey Resources 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 NewJersey Resources 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

Additional Tools for NewJersey Stock Analysis

When running NewJersey Resources' price analysis, check to measure NewJersey Resources' 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 NewJersey Resources is operating at the current time. Most of NewJersey Resources' value examination focuses on studying past and present price action to predict the probability of NewJersey Resources' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NewJersey Resources' price. Additionally, you may evaluate how the addition of NewJersey Resources to your portfolios can decrease your overall portfolio volatility.