GT Stock | | | USD 10.07 0.04 0.40% |
Goodyear Tire financial indicator trend analysis is much more than just examining Goodyear Tire Rubber latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Goodyear Tire Rubber is a good investment. Please check the relationship between Goodyear Tire Total Current Liabilities and its Inventory accounts. Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goodyear Tire 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 estimate.
Total Current Liabilities vs Inventory
Total Current Liabilities vs Inventory Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Goodyear Tire Rubber Total Current Liabilities account and
Inventory. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Goodyear Tire's Total Current Liabilities and Inventory is 0.89. Overlapping area represents the amount of variation of Total Current Liabilities that can explain the historical movement of Inventory in the same time period over historical financial statements of Goodyear Tire Rubber, assuming nothing else is changed. The correlation between historical values of Goodyear Tire's Total Current Liabilities and Inventory 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 Goodyear Tire Rubber are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Total Current Liabilities i.e., Goodyear Tire's Total Current Liabilities and Inventory go up and down completely randomly.
Correlation Coefficient | 0.89 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Total Current Liabilities
Total Current Liabilities is an item on Goodyear Tire balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Goodyear Tire Rubber 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.
Inventory
Most indicators from Goodyear Tire's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Goodyear Tire 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
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Goodyear Tire 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 estimate.
Issuance Of Capital Stock is likely to gain to about 10.9
M in 2024, whereas
Selling General Administrative is likely to drop slightly above 2.7
B in 2024.
Goodyear Tire fundamental ratios Correlations
Click cells to compare fundamentals
Goodyear Tire Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Goodyear Tire fundamental ratios Accounts
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Additional Tools for Goodyear Stock Analysis
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