EcoSynthetix Non Currrent Assets Other vs Common Stock Shares Outstanding Analysis
| ECO Stock | CAD 4.00 0.06 1.52% |
EcoSynthetix financial indicator trend analysis is much more than just examining EcoSynthetix latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether EcoSynthetix is a good investment. Please check the relationship between EcoSynthetix Non Currrent Assets Other and its Common Stock Shares Outstanding accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EcoSynthetix. 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.
Non Currrent Assets Other vs Common Stock Shares Outstanding
Non Currrent Assets Other vs Common Stock Shares Outstanding Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of EcoSynthetix Non Currrent Assets Other account and Common Stock Shares Outstanding. At this time, the significance of the direction appears to have weak relationship.
The correlation between EcoSynthetix's Non Currrent Assets Other and Common Stock Shares Outstanding is 0.36. Overlapping area represents the amount of variation of Non Currrent Assets Other that can explain the historical movement of Common Stock Shares Outstanding in the same time period over historical financial statements of EcoSynthetix, assuming nothing else is changed. The correlation between historical values of EcoSynthetix's Non Currrent Assets Other and Common Stock Shares Outstanding 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 Currrent Assets Other of EcoSynthetix are associated (or correlated) with its Common Stock Shares Outstanding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock Shares Outstanding has no effect on the direction of Non Currrent Assets Other i.e., EcoSynthetix's Non Currrent Assets Other and Common Stock Shares Outstanding go up and down completely randomly.
Correlation Coefficient | 0.36 |
| Relationship Direction | Positive |
| Relationship Strength | Very Weak |
Non Currrent Assets Other
Assets that are not physical or tangible, expected to provide value for more than one year, and not easily converted into cash, such as long-term investments or patents.Common Stock Shares Outstanding
The total number of shares of a company's common stock that are currently owned by all its shareholders.Most indicators from EcoSynthetix's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into EcoSynthetix 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in EcoSynthetix. 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, EcoSynthetix's Selling General Administrative is very stable compared to the past year. As of the 29th of November 2024, Enterprise Value is likely to grow to about 163.4 M, while Enterprise Value Over EBITDA is likely to drop (50.45).
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 4.0M | 4.2M | 2.8M | 2.8M | Total Revenue | 18.2M | 19.0M | 12.7M | 14.2M |
EcoSynthetix fundamental ratios Correlations
Click cells to compare fundamentals
EcoSynthetix Account Relationship Matchups
High Positive Relationship
High Negative Relationship
EcoSynthetix fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 54.7M | 51.7M | 51.0M | 48.2M | 42.8M | 56.6M | |
| Other Current Liab | 623.8K | 380.1K | 1.1M | 1.1M | 449.6K | 427.1K | |
| Total Current Liabilities | 1.4M | 1.2M | 2.4M | 2.6M | 1.6M | 2.4M | |
| Total Stockholder Equity | 52.2M | 49.5M | 47.8M | 45.1M | 41.0M | 46.2M | |
| Property Plant And Equipment Net | 6.7M | 5.6M | 4.7M | 3.9M | 4.3M | 6.0M | |
| Net Debt | (6.6M) | (15.3M) | (41.2M) | (4.0M) | (4.3M) | (4.5M) | |
| Retained Earnings | (448.8M) | (451.2M) | (454.4M) | (456.7M) | (459.5M) | (482.5M) | |
| Cash | 8.0M | 16.6M | 42.2M | 4.8M | 4.9M | 4.7M | |
| Non Current Assets Total | 6.7M | 5.6M | 4.7M | 14.0M | 4.3M | 7.5M | |
| Cash And Short Term Investments | 43.7M | 42.0M | 42.2M | 25.9M | 33.3M | 43.6M | |
| Net Receivables | 1.9M | 1.9M | 1.9M | 2.9M | 1.1M | 2.1M | |
| Common Stock Shares Outstanding | 58.3M | 57.2M | 57.4M | 58.9M | 58.9M | 56.5M | |
| Liabilities And Stockholders Equity | 54.7M | 51.7M | 51.0M | 48.2M | 42.8M | 56.6M | |
| Non Current Liabilities Total | 1.2M | 1.1M | 820.0K | 543.6K | 258.3K | 245.4K | |
| Inventory | 2.3M | 2.1M | 2.1M | 5.3M | 3.6M | 3.3M | |
| Other Current Assets | 76.0K | 69.6K | 91.9K | 85.1K | 532.5K | 559.1K | |
| Other Stockholder Equity | 10.4M | 10.4M | 9.9M | 10.1M | 10.3M | 9.7M | |
| Total Liab | 2.5M | 2.3M | 3.2M | 3.1M | 1.9M | 1.8M | |
| Property Plant And Equipment Gross | 6.7M | 5.6M | 18.9M | 18.8M | 18.8M | 11.7M | |
| Total Current Assets | 48.0M | 46.1M | 46.3M | 34.2M | 38.6M | 49.1M | |
| Accounts Payable | 536.0K | 560.3K | 959.6K | 1.3M | 831.5K | 1.1M | |
| Non Currrent Assets Other | (6.7M) | (5.6M) | (4.7M) | (14.0M) | (12.6M) | (12.0M) | |
| Common Stock Total Equity | 493.6M | 491.6M | 490.6M | 490.3M | 441.2M | 393.7M | |
| Common Stock | 490.6M | 490.3M | 492.3M | 491.7M | 490.3M | 393.6M | |
| Capital Surpluse | 10.4M | 10.4M | 9.9M | 10.1M | 11.6M | 10.6M | |
| Property Plant Equipment | 6.7M | 5.6M | 4.7M | 3.9M | 3.5M | 5.1M | |
| Net Tangible Assets | 52.2M | 49.5M | 47.8M | 45.1M | 40.5M | 42.4M | |
| Long Term Debt Total | 1.2M | 1.1M | 820.1K | 543.6K | 625.2K | 567.7K | |
| Short Term Debt | 200.8K | 238.7K | 255.9K | 275.8K | 326.1K | 309.8K | |
| Short Term Investments | 35.7M | 25.3M | 0.0 | 21.1M | 28.4M | 19.6M | |
| Net Invested Capital | 52.2M | 49.5M | 47.8M | 45.1M | 41.0M | 39.8M | |
| Net Working Capital | 46.6M | 44.9M | 43.9M | 31.6M | 37.0M | 34.7M | |
| Capital Stock | 490.6M | 490.3M | 492.3M | 491.7M | 490.3M | 392.9M |
Pair Trading with EcoSynthetix
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 EcoSynthetix 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 EcoSynthetix will appreciate offsetting losses from the drop in the long position's value.Moving against EcoSynthetix Stock
| 0.49 | JPM | JPMorgan Chase | PairCorr |
| 0.43 | BRK | Berkshire Hathaway CDR | PairCorr |
| 0.41 | BOFA | Bank of America | PairCorr |
The ability to find closely correlated positions to EcoSynthetix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EcoSynthetix 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 EcoSynthetix - 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 EcoSynthetix to buy it.
The correlation of EcoSynthetix 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 EcoSynthetix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EcoSynthetix 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 EcoSynthetix 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 EcoSynthetix Stock
Balance Sheet is a snapshot of the financial position of EcoSynthetix at a specified time, usually calculated after every quarter, six months, or one year. EcoSynthetix Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of EcoSynthetix 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 EcoSynthetix currently owns. An asset can also be divided into two categories, current and non-current.