| HNVR Stock | | | USD 23.74 1.73 6.79% |
Hanover Bancorp financial indicator trend analysis is much more than just examining Hanover Bancorp latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hanover Bancorp is a good investment. Please check the relationship between Hanover Bancorp Change In Working Capital and its Begin Period Cash Flow accounts. Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hanover Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in real.
To learn how to invest in Hanover Stock, please use our
How to Invest in Hanover Bancorp guide.
Change In Working Capital vs Begin Period Cash Flow
Change In Working Capital vs Begin Period Cash Flow Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Hanover Bancorp Change In Working Capital account and
Begin Period Cash Flow. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Hanover Bancorp's Change In Working Capital and Begin Period Cash Flow is -0.58. Overlapping area represents the amount of variation of Change In Working Capital that can explain the historical movement of Begin Period Cash Flow in the same time period over historical financial statements of Hanover Bancorp, assuming nothing else is changed. The correlation between historical values of Hanover Bancorp's Change In Working Capital and Begin Period Cash Flow is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change In Working Capital of Hanover Bancorp are associated (or correlated) with its Begin Period Cash Flow. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Begin Period Cash Flow has no effect on the direction of Change In Working Capital i.e., Hanover Bancorp's Change In Working Capital and Begin Period Cash Flow go up and down completely randomly.
Correlation Coefficient | -0.58 |
| Relationship Direction | Negative |
| Relationship Strength | Very Weak |
Change In Working Capital
The difference in the amount of working capital from one period to the next, indicating the change in a company's short-term assets and liabilities.
Begin Period Cash Flow
The amount of cash a company has at the beginning of a financial reporting period. It serves as the starting point for calculating the period's cash flow from operations, investing, and financing activities.
Most indicators from Hanover Bancorp's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hanover Bancorp 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
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hanover Bancorp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in real.
To learn how to invest in Hanover Stock, please use our
How to Invest in Hanover Bancorp guide.At this time, Hanover Bancorp's
Enterprise Value Over EBITDA is relatively stable compared to the past year. As of 12/22/2024,
Enterprise Value Multiple is likely to grow to 2.71, while
Selling General Administrative is likely to drop slightly above 16.5
M.
Hanover Bancorp fundamental ratios Correlations
Click cells to compare fundamentals
Hanover Bancorp Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Hanover Bancorp fundamental ratios Accounts
Pair Trading with Hanover Bancorp
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 Hanover Bancorp 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 Hanover Bancorp will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Hanover Bancorp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanover Bancorp 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 Hanover Bancorp - 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 Hanover Bancorp to buy it.
The correlation of Hanover Bancorp 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 Hanover Bancorp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanover Bancorp 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 Hanover Bancorp 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 Hanover Stock Analysis
When running Hanover Bancorp's price analysis, check to
measure Hanover Bancorp'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 Hanover Bancorp is operating at the current time. Most of Hanover Bancorp's value examination focuses on studying past and present price action to
predict the probability of Hanover Bancorp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hanover Bancorp's price. Additionally, you may evaluate how the addition of Hanover Bancorp to your portfolios can decrease your overall portfolio volatility.