Ovoca Financial Statements From 2010 to 2024
| OVXA Stock | EUR 0.01 0 16.67% |
Check Ovoca Gold financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Ovoca Gold's main balance sheet or income statement drivers, such as , as well as many indicators such as . Ovoca financial statements analysis is a perfect complement when working with Ovoca Gold Valuation or Volatility modules.
Ovoca |
Ovoca Gold PLC Company Return On Equity Analysis
Ovoca Gold's Return on Equity or ROE tells company stockholders how effectually their money is being utilized or reinvested. It is a useful ratio when analyzing company profitability or the management effectiveness given the capital invested by the shareholders. ROE shows how efficiently a company utilizes investments to generate income.
Current Ovoca Gold Return On Equity | -0.63 |
Most of Ovoca Gold's fundamental indicators, such as Return On Equity, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Ovoca Gold PLC is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
For most industries, Return on Equity between 10% and 30% are considered desirable to provide dividends to owners and have funds for the future growth of the company. Investors should be very careful using ROE as the only efficiency indicator because ROE can be high if a company is heavily leveraged.
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Based on the latest financial disclosure, Ovoca Gold PLC has a Return On Equity of -0.6265. This is 97.39% lower than that of the Healthcare sector and 98.28% lower than that of the Biotechnology industry. The return on equity for all Ireland stocks is 102.1% higher than that of the company.
Ovoca Gold PLC Fundamental Drivers Relationships
Comparative valuation techniques use various fundamental indicators to help in determining Ovoca Gold's current stock value. Our valuation model uses many indicators to compare Ovoca Gold value to that of its competitors to determine the firm's financial worth. You can analyze the relationship between different fundamental ratios across Ovoca Gold competition to find correlations between indicators driving Ovoca Gold's intrinsic value. More Info.Ovoca Gold PLC is considered to be number one stock in return on equity category among its peers. It also is considered to be number one stock in return on asset category among its peers . The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Ovoca Gold's earnings, one of the primary drivers of an investment's value.About Ovoca Gold Financial Statements
Ovoca Gold shareholders use historical fundamental indicators, such as revenue or net income, to determine how well the company is positioned to perform in the future. Although Ovoca Gold investors may analyze each financial statement separately, they are all interrelated. The changes in Ovoca Gold's assets and liabilities, for example, are also reflected in the revenues and expenses on on Ovoca Gold's income statement. Understanding these patterns can help investors time the market effectively. Please read more on our fundamental analysis page.
Pair Trading with Ovoca 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 Ovoca 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 Ovoca Gold will appreciate offsetting losses from the drop in the long position's value.Moving against Ovoca Stock
The ability to find closely correlated positions to Ovoca 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 Ovoca 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 Ovoca 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 Ovoca Gold PLC to buy it.
The correlation of Ovoca 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 Ovoca Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ovoca Gold PLC 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 Ovoca 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.Additional Tools for Ovoca Stock Analysis
When running Ovoca Gold's price analysis, check to measure Ovoca Gold'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 Ovoca Gold is operating at the current time. Most of Ovoca Gold's value examination focuses on studying past and present price action to predict the probability of Ovoca Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ovoca Gold's price. Additionally, you may evaluate how the addition of Ovoca Gold to your portfolios can decrease your overall portfolio volatility.