Northern Technologies Correlations
| NTIC Stock | USD 17.31 0.08 0.46% |
The correlation of Northern Technologies 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 Northern Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Technologies 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.
Good diversification
The correlation between Northern Technologies and NYA is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Technologies and NYA in the same portfolio, assuming nothing else is changed.
Northern |
The ability to find closely correlated positions to Northern Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Technologies 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 Northern Technologies - 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 Northern Technologies to buy it.
Moving against Northern Stock
| 0.6 | WDFC | WD 40 Company Financial Report 8th of July 2024 | PairCorr |
| 0.65 | PPG | PPG Industries Financial Report 18th of July 2024 | PairCorr |
| 0.51 | SCL | Stepan Company Earnings Call This Week | PairCorr |
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Risk-Adjusted Indicators
There is a big difference between Northern Stock performing well and Northern Technologies Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Northern Technologies' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| IOSP | 0.99 | (0.08) | (0.03) | 0.03 | 1.22 | 1.75 | 7.22 | |||
| FUL | 0.97 | (0.07) | 0.00 | 0.86 | 0.00 | 1.60 | 6.19 | |||
| KWR | 1.14 | (0.04) | 0.00 | 0.19 | 0.00 | 2.10 | 6.68 | |||
| MTX | 1.02 | 0.13 | 0.03 | (0.67) | 1.21 | 2.51 | 6.49 | |||
| ODC | 1.64 | 0.08 | (0.01) | (0.15) | 1.97 | 3.23 | 12.13 | |||
| SXT | 1.37 | 0.23 | 0.06 | (0.37) | 1.63 | 2.96 | 8.21 | |||
| ECVT | 1.54 | 0.14 | 0.03 | (1.19) | 1.86 | 2.64 | 10.51 | |||
| ESI | 1.03 | 0.07 | (0.02) | (0.19) | 1.18 | 2.36 | 5.07 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Northern Technologies without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Northern Technologies Corporate Directors
Northern Technologies corporate directors refer to members of a Northern Technologies board of directors. The board of directors generally takes responsibility for the Northern Technologies' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Northern Technologies' board members must vote for the resolution. The Northern Technologies board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Sunggyu Lee | Independent Director | Profile | |
| Ramani Narayan | Director | Profile | |
| Konstantin Falkenhausen | Independent Director | Profile | |
| Vineet Dalal | VP and Director of Global Market Devel. - Natur-Tec | Profile |
Already Invested in Northern Technologies?
The danger of trading Northern Technologies is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Northern Technologies is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Northern Technologies. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Northern Technologies is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Northern Technologies offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Northern Technologies' financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Northern Technologies Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Northern Technologies Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northern Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. For information on how to trade Northern Stock refer to our How to Trade Northern Stock guide.You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Northern Stock analysis
When running Northern Technologies' price analysis, check to measure Northern Technologies' 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 Northern Technologies is operating at the current time. Most of Northern Technologies' value examination focuses on studying past and present price action to predict the probability of Northern Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Northern Technologies' price. Additionally, you may evaluate how the addition of Northern Technologies to your portfolios can decrease your overall portfolio volatility.
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Is Northern Technologies' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Northern Technologies. If investors know Northern will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Northern Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 3.25 | Dividend Share 0.28 | Earnings Share 0.51 | Revenue Per Share 8.802 | Quarterly Revenue Growth 0.141 |
The market value of Northern Technologies is measured differently than its book value, which is the value of Northern that is recorded on the company's balance sheet. Investors also form their own opinion of Northern Technologies' value that differs from its market value or its book value, called intrinsic value, which is Northern Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Northern Technologies' market value can be influenced by many factors that don't directly affect Northern Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Northern Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Northern Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Northern Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.