NovaGold Non Operating Income Net Other vs Income Tax Expense Analysis

The correlation between NovaGold Resources' Non Operating Income Net Other and Income Tax Expense is -0.19. Overlapping area represents the amount of variation of Non Operating Income Net Other that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of NovaGold Resources, assuming nothing else is changed. The correlation between historical values of NovaGold Resources' Non Operating Income Net Other and Income Tax Expense is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Non Operating Income Net Other of NovaGold Resources are associated (or correlated) with its Income Tax Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Tax Expense has no effect on the direction of Non Operating Income Net Other i.e., NovaGold Resources' Non Operating Income Net Other and Income Tax Expense go up and down completely randomly.