Orezone Income Quality from 2010 to 2024
| ORE Stock | 0.65 0.01 1.52% |
Income Quality | First Reported 2010-12-31 | Previous Quarter 1.61114806 | Current Value 1.69 | Quarterly Volatility 1.20986686 |
Check Orezone Gold financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Orezone Gold's main balance sheet or income statement drivers, such as Depreciation And Amortization of 31.1 M, Interest Expense of 15.6 M or Total Revenue of 285.1 M, as well as many indicators such as Price To Sales Ratio of 0.81, Dividend Yield of 0.0 or PTB Ratio of 1.47. Orezone financial statements analysis is a perfect complement when working with Orezone Gold Valuation or Volatility modules.
Orezone | Income Quality |
Pair Trading with Orezone Gold
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 Orezone Gold 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 Orezone Gold will appreciate offsetting losses from the drop in the long position's value.Moving against Orezone Stock
| 0.79 | WCN | Waste Connections | PairCorr |
| 0.73 | FFH | Fairfax Financial | PairCorr |
| 0.63 | FSV | FirstService Corp | PairCorr |
| 0.62 | CSU | Constellation Software | PairCorr |
| 0.52 | BYD | Boyd Group Services | PairCorr |
The ability to find closely correlated positions to Orezone Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orezone Gold 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 Orezone Gold - 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 Orezone Gold Corp to buy it.
The correlation of Orezone Gold 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 Orezone Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orezone Gold 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 Orezone Gold 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 Orezone Stock
Orezone Gold financial ratios help investors to determine whether Orezone Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Orezone with respect to the benefits of owning Orezone Gold security.