Algonquin Z Score

AQNA
 Stock
  

USD 25.30  0.42  1.69%   

Altman Z Score is one of the simplest fundamental models to determine how likely your company is to fail. The module uses available fundamental data of a given equity to approximate the Altman Z score. Altman Z Score is determined by evaluating five fundamental price points available from the company's current public disclosure documents. Please continue to Algonquin Power Performance and Algonquin Power Valuation analysis.
  

Algonquin Z Score Analysis

Algonquin Power's Z-Score is a simple linear, multi-factor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
Z Score 
 = 
Sum Of  
 
5 Factors 
More About Z Score | All Equity Analysis
First Factor
 = 
1.2 * (
Working Capital
/
Total Assets )
Second Factor
 = 
1.4 * (
Retained Earnings
/
Total Assets )
Thrid Factor
 = 
3.3 * (
EBITAD
/
Total Assets )
Fouth Factor
 = 
0.6 * (
Market Value of Equity
/
Total Liabilities )
Fifth Factor
 = 
0.99 * (
Revenue
/
Total Assets )
To calculate Z-Score one would need to know current working capital of the company, its total assets, and liabilities, amount of latest retained earnings as well as earnings before interest and tax. Z-Score can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with Z-Scores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a so-called 'grey area' with scores of less than 1, indicating the high probability of distress. Z Score is used widely by financial auditors, accountants, money managers, loan processers, wealth advisers, as well as day traders. In the last 25 years, many financial models that utilize z score has been proved to be successful as a predictor of corporate bankruptcy.
In accordance with the company's disclosures, Algonquin Power Utilities has a Z Score of 0.0. This indicator is about the same for the average (which is currently at 0.0) sector and about the same as Z Score (which currently averages 0.0) industry. This indicator is about the same for all United States stocks average (which is currently at 0.0).

Did you try this?

Run Transaction History Now

   

Transaction History

View history of all your transactions and understand their impact on performance
All  Next Launch Module

Algonquin Fundamentals

About Algonquin Power Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Algonquin Power Utilities's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Algonquin Power using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Algonquin Power Utilities based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Algonquin Power 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?

Run Commodity Channel Index Now

   

Commodity Channel Index

Use Commodity Channel Index to analyze current equity momentum
All  Next Launch Module

Pair Trading with Algonquin Power

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 Algonquin Power 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 Algonquin Power will appreciate offsetting losses from the drop in the long position's value.

Moving together with Algonquin Power

The ability to find closely correlated positions to Algonquin Power could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algonquin Power 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 Algonquin Power - 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 Algonquin Power Utilities to buy it.
The correlation of Algonquin Power is a statistical measure of how it moves in relation to other equities. 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 Algonquin Power moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algonquin Power Utilities 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 Algonquin Power 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.
Pair CorrelationCorrelation Matching
Please continue to Algonquin Power Performance and Algonquin Power Valuation analysis. You can also try Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.

Complementary Tools for analysis

When running Algonquin Power Utilities price analysis, check to measure Algonquin Power'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 Algonquin Power is operating at the current time. Most of Algonquin Power's value examination focuses on studying past and present price action to predict the probability of Algonquin Power's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Algonquin Power's price. Additionally, you may evaluate how the addition of Algonquin Power to your portfolios can decrease your overall portfolio volatility.
Transaction History
View history of all your transactions and understand their impact on performance
Go
Equity Valuation
Check real value of public entities based on technical and fundamental data
Go
Commodity Channel Index
Use Commodity Channel Index to analyze current equity momentum
Go
Options Analysis
Analyze and evaluate options and option chains as a potential hedge for your portfolios
Go
Technical Analysis
Check basic technical indicators and analysis based on most latest market data
Go
Correlation Analysis
Reduce portfolio risk simply by holding instruments which are not perfectly correlated
Go
Is Algonquin Power's 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 Algonquin Power. If investors know Algonquin 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 Algonquin Power listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Algonquin Power Utilities is measured differently than its book value, which is the value of Algonquin that is recorded on the company's balance sheet. Investors also form their own opinion of Algonquin Power's value that differs from its market value or its book value, called intrinsic value, which is Algonquin Power's 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 Algonquin Power's market value can be influenced by many factors that don't directly affect Algonquin Power's 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 Algonquin Power's value and its price as these two are different measures arrived at by different means. Investors typically determine Algonquin Power value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Algonquin Power's 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.