| NFG Stock | | | CAD 2.53 0.15 6.30% |
New Found financial indicator trend analysis is infinitely more than just investigating New Found Gold recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether New Found Gold is a good investment. Please check the relationship between New Found Cash and its Net Invested Capital accounts. Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in New Found Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
Cash vs Net Invested Capital
Cash vs Net Invested Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
New Found Gold Cash account and
Net Invested Capital. At this time, the significance of the direction appears to have totally related.
The correlation between New Found's Cash and Net Invested Capital is 0.99. Overlapping area represents the amount of variation of Cash that can explain the historical movement of Net Invested Capital in the same time period over historical financial statements of New Found Gold, assuming nothing else is changed. The correlation between historical values of New Found's Cash and Net Invested Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash of New Found Gold are associated (or correlated) with its Net Invested Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Net Invested Capital has no effect on the direction of Cash i.e., New Found's Cash and Net Invested Capital go up and down completely randomly.
Correlation Coefficient | 0.99 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Cash
Cash refers to the most liquid asset of New Found Gold, which is listed under current asset account on New Found Gold balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from New Found customers. The amounts must be unrestricted with restricted cash listed in a different New Found account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.
Net Invested Capital
The total amount of capital invested in a company, including both equity and debt, minus any cash or cash equivalents.
Most indicators from New Found's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into New Found Gold 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 New Found Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
Selling General Administrative is likely to climb to about 10.5
M in 2024, whereas
Issuance Of Capital Stock is likely to drop slightly above 66
M in 2024.
New Found fundamental ratios Correlations
Click cells to compare fundamentals
New Found Account Relationship Matchups
High Positive Relationship
High Negative Relationship
New Found fundamental ratios Accounts
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Additional Tools for New Stock Analysis
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measure New Found'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 New Found is operating at the current time. Most of New Found's value examination focuses on studying past and present price action to
predict the probability of New Found's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move New Found's price. Additionally, you may evaluate how the addition of New Found to your portfolios can decrease your overall portfolio volatility.