ELGIRUBCO | | | 122.57 2.87 2.29% |
Elgi Rubber financial indicator trend analysis is much more than just examining Elgi Rubber latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elgi Rubber is a good investment. Please check the relationship between Elgi Rubber Change To Inventory and its Depreciation accounts. Check out
Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elgi Rubber. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in metropolitan statistical area.
Change To Inventory vs Depreciation
Change To Inventory vs Depreciation Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Elgi Rubber Change To Inventory account and
Depreciation. At this time, the significance of the direction appears to have fragmental relationship.
The correlation between Elgi Rubber's Change To Inventory and Depreciation is 0.5. Overlapping area represents the amount of variation of Change To Inventory that can explain the historical movement of Depreciation in the same time period over historical financial statements of Elgi Rubber, assuming nothing else is changed. The correlation between historical values of Elgi Rubber's Change To Inventory and Depreciation is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Change To Inventory of Elgi Rubber are associated (or correlated) with its Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Depreciation has no effect on the direction of Change To Inventory i.e., Elgi Rubber's Change To Inventory and Depreciation go up and down completely randomly.
Correlation Coefficient | 0.5 |
Relationship Direction | Positive |
Relationship Strength | Weak |
Change To Inventory
The increase or decrease in the amount of inventory a company has over a certain period.
Depreciation
Depreciation indicates how much of Elgi Rubber value has been used up. For tax purposes Elgi Rubber can deduct the cost of the tangible assets it purchases as business expenses. However, Elgi Rubber must depreciate these assets in accordance with IRS rules about how and when the deduction may be taken, and how long it will last. The systematic allocation of the cost of a tangible asset over its useful life.
Most indicators from Elgi Rubber's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elgi Rubber 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 Elgi Rubber. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in metropolitan statistical area.
The current year's
Selling General Administrative is expected to grow to about 155
M, whereas
Tax Provision is forecasted to decline to about 15.6
M.
Elgi Rubber fundamental ratios Correlations
Click cells to compare fundamentals
Elgi Rubber Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Elgi Rubber fundamental ratios Accounts
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Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
Other Information on Investing in Elgi Stock
Balance Sheet is a snapshot of the
financial position of Elgi Rubber at a specified time, usually calculated after every quarter, six months, or one year. Elgi Rubber Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Elgi Rubber 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 Elgi currently owns. An asset can also be divided into two categories, current and non-current.