| CJ Stock | | | CAD 6.42 0.06 0.94% |
Cardinal Energy financial indicator trend analysis is way more than just evaluating Cardinal Energy prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Cardinal Energy is a good investment. Please check the relationship between Cardinal Energy Total Current Liabilities and its Gross Profit Margin accounts. Check out
Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardinal Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
Total Current Liabilities vs Gross Profit Margin
Total Current Liabilities vs Gross Profit Margin Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Cardinal Energy Total Current Liabilities account and
Gross Profit Margin. At this time, the significance of the direction appears to have weak relationship.
The correlation between Cardinal Energy's Total Current Liabilities and Gross Profit Margin is 0.39. Overlapping area represents the amount of variation of Total Current Liabilities that can explain the historical movement of Gross Profit Margin in the same time period over historical financial statements of Cardinal Energy, assuming nothing else is changed. The correlation between historical values of Cardinal Energy's Total Current Liabilities and Gross Profit Margin is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Total Current Liabilities of Cardinal Energy are associated (or correlated) with its Gross Profit Margin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Gross Profit Margin has no effect on the direction of Total Current Liabilities i.e., Cardinal Energy's Total Current Liabilities and Gross Profit Margin go up and down completely randomly.
Correlation Coefficient | 0.39 |
| Relationship Direction | Positive |
| Relationship Strength | Very Weak |
Total Current Liabilities
Total Current Liabilities is an item on Cardinal Energy balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Cardinal Energy are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.
Gross Profit Margin
Most indicators from Cardinal Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Cardinal Energy 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 Cardinal Energy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
At this time, Cardinal Energy's
Tax Provision is very stable compared to the past year. As of the 11th of December 2024,
Enterprise Value Over EBITDA is likely to grow to 4.31, while
Selling General Administrative is likely to drop about 22.9
M.
Cardinal Energy fundamental ratios Correlations
Click cells to compare fundamentals
Cardinal Energy Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Cardinal Energy fundamental ratios Accounts
Pair Trading with Cardinal Energy
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 Cardinal Energy 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 Cardinal Energy will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Cardinal Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cardinal Energy 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 Cardinal Energy - 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 Cardinal Energy to buy it.
The correlation of Cardinal Energy 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 Cardinal Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cardinal Energy 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 Cardinal Energy 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 Cardinal Stock
Balance Sheet is a snapshot of the
financial position of Cardinal Energy at a specified time, usually calculated after every quarter, six months, or one year. Cardinal Energy Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Cardinal Energy 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 Cardinal currently owns. An asset can also be divided into two categories, current and non-current.