Excellon Change In Working Capital vs Depreciation Analysis

EXN Stock  CAD 0.1  0.01  5.00%   
Excellon Resources financial indicator trend analysis is much more than just examining Excellon Resources latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Excellon Resources is a good investment. Please check the relationship between Excellon Resources Change In Working Capital and its Depreciation accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Excellon Resources. 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.

Change In Working Capital vs Depreciation

Change In Working Capital vs Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Excellon Resources Change In Working Capital account and Depreciation. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Excellon Resources' Change In Working Capital and Depreciation is -0.12. Overlapping area represents the amount of variation of Change In Working Capital that can explain the historical movement of Depreciation in the same time period over historical financial statements of Excellon Resources, assuming nothing else is changed. The correlation between historical values of Excellon Resources' Change In Working Capital 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 In Working Capital of Excellon Resources 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 In Working Capital i.e., Excellon Resources' Change In Working Capital and Depreciation go up and down completely randomly.

Correlation Coefficient

-0.12
Relationship DirectionNegative 
Relationship StrengthInsignificant

Change In Working Capital

The difference in the amount of working capital from one period to the next, indicating the change in a company's short-term assets and liabilities.

Depreciation

Depreciation indicates how much of Excellon Resources value has been used up. For tax purposes Excellon Resources can deduct the cost of the tangible assets it purchases as business expenses. However, Excellon Resources 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 Excellon Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Excellon Resources 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 Excellon Resources. 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.
As of the 13th of December 2024, Selling General Administrative is likely to grow to about 5.6 M, though Tax Provision is likely to grow to (705.9 K).

Excellon Resources fundamental ratios Correlations

-0.32-0.21-0.390.88-0.620.37-0.030.570.71-0.290.260.520.22-0.210.930.850.97-0.240.660.480.69-0.35-0.460.760.4
-0.320.650.87-0.660.74-0.880.59-0.3-0.320.870.17-0.060.250.82-0.42-0.03-0.33-0.4-0.73-0.38-0.230.90.71-0.250.42
-0.210.650.89-0.60.42-0.740.19-0.1-0.160.580.190.30.30.91-0.18-0.11-0.27-0.29-0.53-0.4-0.390.620.280.020.17
-0.390.870.89-0.760.66-0.920.36-0.26-0.330.830.050.10.290.91-0.42-0.18-0.43-0.26-0.68-0.48-0.460.860.64-0.20.34
0.88-0.66-0.6-0.76-0.760.72-0.240.520.65-0.60.010.290.04-0.640.830.710.89-0.080.780.550.72-0.63-0.560.590.13
-0.620.740.420.66-0.76-0.70.43-0.85-0.860.690.0-0.16-0.380.55-0.8-0.35-0.54-0.07-0.72-0.19-0.50.70.6-0.320.1
0.37-0.88-0.74-0.920.72-0.7-0.350.260.34-0.96-0.13-0.13-0.26-0.840.410.210.430.060.570.480.56-0.86-0.620.23-0.48
-0.030.590.190.36-0.240.43-0.35-0.26-0.250.320.33-0.04-0.040.45-0.180.06-0.02-0.12-0.23-0.050.150.350.370.220.45
0.57-0.3-0.1-0.260.52-0.850.26-0.260.97-0.240.120.190.77-0.160.790.390.42-0.120.47-0.110.41-0.3-0.320.170.16
0.71-0.32-0.16-0.330.65-0.860.34-0.250.97-0.290.170.220.71-0.20.870.560.58-0.230.510.060.56-0.33-0.360.280.19
-0.290.870.580.83-0.60.69-0.960.32-0.24-0.290.040.080.290.7-0.37-0.07-0.34-0.13-0.56-0.44-0.450.90.68-0.270.56
0.260.170.190.050.010.0-0.130.330.120.170.040.29-0.050.420.320.090.190.080.180.180.05-0.13-0.420.380.17
0.52-0.060.30.10.29-0.16-0.13-0.040.190.220.080.290.00.250.50.350.50.090.3-0.09-0.13-0.15-0.490.670.18
0.220.250.30.290.04-0.38-0.26-0.040.770.710.29-0.050.00.250.380.30.09-0.39-0.09-0.430.220.310.22-0.10.32
-0.210.820.910.91-0.640.55-0.840.45-0.16-0.20.70.420.250.25-0.21-0.14-0.27-0.22-0.51-0.35-0.380.670.360.030.32
0.93-0.42-0.18-0.420.83-0.80.41-0.180.790.87-0.370.320.50.38-0.210.690.85-0.130.720.360.6-0.47-0.580.630.27
0.85-0.03-0.11-0.180.71-0.350.210.060.390.56-0.070.090.350.3-0.140.690.89-0.630.240.320.770.0-0.160.560.38
0.97-0.33-0.27-0.430.89-0.540.43-0.020.420.58-0.340.190.50.09-0.270.850.89-0.320.590.530.73-0.36-0.460.770.31
-0.24-0.4-0.29-0.26-0.08-0.070.06-0.12-0.12-0.23-0.130.080.09-0.39-0.22-0.13-0.63-0.320.5-0.02-0.59-0.42-0.240.01-0.01
0.66-0.73-0.53-0.680.78-0.720.57-0.230.470.51-0.560.180.3-0.09-0.510.720.240.590.50.510.29-0.74-0.590.570.21
0.48-0.38-0.4-0.480.55-0.190.48-0.05-0.110.06-0.440.18-0.09-0.43-0.350.360.320.53-0.020.510.53-0.41-0.260.350.09
0.69-0.23-0.39-0.460.72-0.50.560.150.410.56-0.450.05-0.130.22-0.380.60.770.73-0.590.290.53-0.26-0.160.360.13
-0.350.90.620.86-0.630.7-0.860.35-0.3-0.330.9-0.13-0.150.310.67-0.470.0-0.36-0.42-0.74-0.41-0.260.81-0.360.46
-0.460.710.280.64-0.560.6-0.620.37-0.32-0.360.68-0.42-0.490.220.36-0.58-0.16-0.46-0.24-0.59-0.26-0.160.81-0.510.39
0.76-0.250.02-0.20.59-0.320.230.220.170.28-0.270.380.67-0.10.030.630.560.770.010.570.350.36-0.36-0.510.31
0.40.420.170.340.130.1-0.480.450.160.190.560.170.180.320.320.270.380.31-0.010.210.090.130.460.390.31
Click cells to compare fundamentals

Excellon Resources Account Relationship Matchups

Excellon Resources fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets55.2M73.3M41.6M26.7M16.6M15.8M
Short Long Term Debt Total1.3M8.1M9.7M11.5M12.0M9.3M
Other Current Liab4.4M3.9M28.1M28.0M6.2M6.3M
Total Current Liabilities9.1M12.0M34.2M46.5M25.7M27.0M
Total Stockholder Equity42.2M50.4M(4.5M)(21.9M)(9.8M)(9.3M)
Net Debt(5.1M)(267K)5.6M10.0M11.3M11.9M
Retained Earnings(88.4M)(104.4M)(162.2M)(181.0M)(174.5M)(165.7M)
Accounts Payable2.7M4.3M4.0M4.6M4.5M3.2M
Cash6.3M8.4M4.1M1.5M691K656.5K
Cash And Short Term Investments6.7M10.7M4.5M1.5M744K706.8K
Common Stock Shares Outstanding20.7M28.9M32.7M34.9M42.9M45.0M
Liabilities And Stockholders Equity55.2M73.3M41.6M26.7M16.6M15.8M
Non Current Liabilities Total3.8M10.8M11.9M2.1M748K710.6K
Other Current Assets5.2M6.9M5.3M3.8M497K472.2K
Other Stockholder Equity28.7M34.0M34.6M34.8M33.7M32.4M
Total Liab13.0M22.8M46.0M48.6M26.5M16.8M
Total Current Assets16.8M21.8M12.2M5.9M1.2M1.2M
Accumulated Other Comprehensive Income(13.0M)(15.4M)(15.9M)(16.7M)(12.5M)(11.8M)
Property Plant And Equipment Net27.5M46.3M29.3M20.7M15.4M26.3M
Non Current Assets Total38.4M51.5M29.3M20.7M15.4M14.6M
Non Currrent Assets Other34.7M38.4M(29.3M)(20.7M)41K39.0K
Net Receivables2.3M1.8M326K690K180K171K
Short Term Investments348K2.4M454K5K53K50.4K
Property Plant And Equipment Gross27.5M46.3M96.0M100.6M115.7M121.4M
Short Term Debt489K405K212K11.5M12.0M12.6M
Inventory2.6M2.4M2.1M1.8M303K287.9K
Common Stock Total Equity103.6M106.8M114.8M136.2M156.6M96.9M
Common Stock114.8M136.2M139.0M141.1M143.4M113.5M
Other Liab2.2M3.1M3.1M2.4M2.2M3.1M
Net Tangible Assets40.2M42.2M50.4M(4.5M)(4.0M)(3.8M)
Intangible Assets2.7M20.5M20.3M20.5M23.6M12.1M
Property Plant Equipment27.5M46.3M29.3M229K206.1K195.8K
Long Term Debt Total788K7.7M9.5M47K54.1K51.3K
Capital Surpluse28.7M34.0M34.6M34.8M40.0M29.3M
Cash And Equivalents6.3M8.4M4.1M1.5M1.3M1.3M
Net Invested Capital42.2M57.7M4.8M(10.6M)2.1M2.0M

Pair Trading with Excellon Resources

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 Excellon Resources 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 Excellon Resources will appreciate offsetting losses from the drop in the long position's value.

Moving against Excellon Stock

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The ability to find closely correlated positions to Excellon Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Excellon Resources 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 Excellon Resources - 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 Excellon Resources to buy it.
The correlation of Excellon Resources 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 Excellon Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Excellon Resources 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 Excellon Resources 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

Other Information on Investing in Excellon Stock

Balance Sheet is a snapshot of the financial position of Excellon Resources at a specified time, usually calculated after every quarter, six months, or one year. Excellon Resources Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Excellon Resources 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 Excellon currently owns. An asset can also be divided into two categories, current and non-current.