Algoma Property Plant And Equipment Gross vs Common Stock Total Equity Analysis
| ALC Stock | CAD 14.94 0.19 1.29% |
Algoma Central financial indicator trend analysis is way more than just evaluating Algoma Central prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Algoma Central is a good investment. Please check the relationship between Algoma Central Property Plant And Equipment Gross and its Common Stock Total Equity accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Central. 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.
Property Plant And Equipment Gross vs Common Stock Total Equity
Property Plant And Equipment Gross vs Common Stock Total Equity Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Algoma Central Property Plant And Equipment Gross account and Common Stock Total Equity. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Algoma Central's Property Plant And Equipment Gross and Common Stock Total Equity is -0.46. Overlapping area represents the amount of variation of Property Plant And Equipment Gross that can explain the historical movement of Common Stock Total Equity in the same time period over historical financial statements of Algoma Central, assuming nothing else is changed. The correlation between historical values of Algoma Central's Property Plant And Equipment Gross and Common Stock Total Equity is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Property Plant And Equipment Gross of Algoma Central are associated (or correlated) with its Common Stock Total Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock Total Equity has no effect on the direction of Property Plant And Equipment Gross i.e., Algoma Central's Property Plant And Equipment Gross and Common Stock Total Equity go up and down completely randomly.
Correlation Coefficient | -0.46 |
| Relationship Direction | Negative |
| Relationship Strength | Very Weak |
Property Plant And Equipment Gross
Common Stock Total Equity
The total value of common stock equity held by shareholders, representing their ownership interest in the company.Most indicators from Algoma Central's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Algoma Central 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Central. 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. At this time, Algoma Central's Discontinued Operations is very stable compared to the past year. As of the 13th of December 2024, Enterprise Value is likely to grow to about 966.2 M, while Selling General Administrative is likely to drop about 26.9 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 531.0M | 612.5M | 116.1M | 110.3M | Total Revenue | 598.9M | 677.9M | 721.2M | 499.6M |
Algoma Central fundamental ratios Correlations
Click cells to compare fundamentals
Algoma Central Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Algoma Central fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 1.1B | 1.2B | 1.2B | 1.4B | 1.3B | 829.0M | |
| Other Current Liab | 19.1M | 103.7M | 9.5M | 121.6M | 3.3M | 3.1M | |
| Total Current Liabilities | 156.8M | 179.3M | 84.5M | 150.8M | 147.2M | 103.8M | |
| Total Stockholder Equity | 660.4M | 560.6M | 640.3M | 726.0M | 778.3M | 484.0M | |
| Property Plant And Equipment Net | 840.0M | 841.9M | 819.6M | 859.9M | 891.7M | 560.2M | |
| Net Debt | 316.4M | 287.2M | 283.3M | 260.8M | 344.5M | 361.8M | |
| Retained Earnings | 674.8M | 582.0M | 660.2M | 719.5M | 769.4M | 469.1M | |
| Accounts Payable | 60.7M | 70.9M | 77.2M | 79.2M | 70.3M | 56.5M | |
| Cash | 18.9M | 103.9M | 108.9M | 142.0M | 32.8M | 31.2M | |
| Non Current Assets Total | 1.0B | 1.0B | 1.0B | 1.1B | 1.2B | 650.0M | |
| Non Currrent Assets Other | 6.6M | 24.1M | 20.5M | 38.6M | 22.2M | 30.0M | |
| Cash And Short Term Investments | 18.9M | 103.9M | 108.9M | 142.0M | 32.8M | 31.2M | |
| Net Receivables | 75.6M | 69.7M | 60.6M | 69.1M | 100.4M | 72.5M | |
| Common Stock Shares Outstanding | 38.2M | 42.0M | 42.9M | 42.9M | 43.1M | 44.7M | |
| Liabilities And Stockholders Equity | 1.1B | 1.2B | 1.2B | 1.4B | 1.3B | 829.0M | |
| Non Current Liabilities Total | 330.1M | 483.2M | 475.3M | 488.8M | 418.7M | 239.7M | |
| Inventory | 10.6M | 8.9M | 12.5M | 19.1M | 15.8M | 9.9M | |
| Other Current Assets | 9.4M | 6.3M | 8.6M | 20.2M | 12.4M | 16.5M | |
| Other Stockholder Equity | 1.2M | 1.0M | 985K | 582.0K | 523.8K | 497.6K | |
| Total Liab | 487.0M | 662.5M | 559.8M | 639.7M | 565.8M | 343.4M | |
| Property Plant And Equipment Gross | 840.0M | 841.9M | 1.3B | 1.4B | 1.4B | 1.5B | |
| Total Current Assets | 114.4M | 188.8M | 190.6M | 250.3M | 161.4M | 179.1M | |
| Accumulated Other Comprehensive Income | (26.0M) | (32.8M) | (31.3M) | (8.1M) | (20.2M) | (21.3M) | |
| Short Long Term Debt Total | 335.2M | 391.2M | 392.2M | 402.8M | 377.4M | 191.6M | |
| Short Term Debt | 80.1M | 337K | 282K | 5.3M | 60.8M | 36.6M | |
| Current Deferred Revenue | 1.7M | 907K | 1.1M | 1.7M | 1.5M | 1.4M | |
| Common Stock Total Equity | 19.0M | 17.1M | 9.3M | 9.1M | 10.5M | 14.7M | |
| Common Stock | 8.2M | 8.1M | 8.1M | 11.7M | 29.2M | 30.6M | |
| Other Liab | 75.0M | 92.3M | 83.4M | 91.4M | 105.1M | 84.6M | |
| Net Tangible Assets | 649.2M | 552.7M | 632.4M | 718.1M | 825.8M | 690.8M | |
| Other Assets | 38.9M | 38.7M | 26.9M | 29.4M | 1.0 | 0.95 | |
| Long Term Debt | 254.8M | 390.5M | 391.5M | 397.2M | 316.4M | 318.1M | |
| Long Term Investments | 142.8M | 145.8M | 155.1M | 209.0M | 260.9M | 274.0M | |
| Short Long Term Debt | 80.1M | 143K | 150K | 5.2M | 60.7M | 64.6M | |
| Property Plant Equipment | 840.0M | 841.9M | 819.6M | 851.0M | 978.7M | 789.3M | |
| Long Term Debt Total | 255.1M | 390.8M | 391.9M | 397.5M | 457.1M | 332.7M | |
| Capital Surpluse | 1.2M | 1.0M | 985K | 582K | 523.8K | 497.6K | |
| Net Invested Capital | 995.3M | 951.2M | 1.0B | 1.1B | 1.2B | 1.1B | |
| Net Working Capital | (42.4M) | 9.5M | 106.1M | 99.5M | 14.2M | 13.5M |
Pair Trading with Algoma Central
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 Algoma Central 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 Algoma Central will appreciate offsetting losses from the drop in the long position's value.Moving against Algoma Stock
The ability to find closely correlated positions to Algoma Central could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algoma Central 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 Algoma Central - 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 Algoma Central to buy it.
The correlation of Algoma Central 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 Algoma Central moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Central 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 Algoma Central 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.Other Information on Investing in Algoma Stock
Balance Sheet is a snapshot of the financial position of Algoma Central at a specified time, usually calculated after every quarter, six months, or one year. Algoma Central Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Algoma Central and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Algoma currently owns. An asset can also be divided into two categories, current and non-current.