Avicanna Free Cash Flow Yield vs Capex To Depreciation Analysis

AVCN Stock  CAD 0.37  0.03  7.50%   
Avicanna financial indicator trend analysis is way more than just evaluating Avicanna prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Avicanna is a good investment. Please check the relationship between Avicanna Free Cash Flow Yield and its Capex To Depreciation accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Avicanna. 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.

Free Cash Flow Yield vs Capex To Depreciation

Free Cash Flow Yield vs Capex To Depreciation Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Avicanna Free Cash Flow Yield account and Capex To Depreciation. At this time, the significance of the direction appears to have weak relationship.
The correlation between Avicanna's Free Cash Flow Yield and Capex To Depreciation is 0.33. Overlapping area represents the amount of variation of Free Cash Flow Yield that can explain the historical movement of Capex To Depreciation in the same time period over historical financial statements of Avicanna, assuming nothing else is changed. The correlation between historical values of Avicanna's Free Cash Flow Yield and Capex To 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 Free Cash Flow Yield of Avicanna are associated (or correlated) with its Capex To Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Capex To Depreciation has no effect on the direction of Free Cash Flow Yield i.e., Avicanna's Free Cash Flow Yield and Capex To Depreciation go up and down completely randomly.

Correlation Coefficient

0.33
Relationship DirectionPositive 
Relationship StrengthVery Weak

Free Cash Flow Yield

A financial solvency ratio that compares the free cash flow per share a company is expected to earn against its market value per share, calculated as free cash flow per share divided by market price per share.

Capex To Depreciation

The ratio of a company's capital expenditures to its depreciation expenses, indicating how much the company is investing in physical assets relative to the aging of existing assets.
Most indicators from Avicanna's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Avicanna 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 Avicanna. 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, Enterprise Value is likely to grow to about 59.2 M, while Selling General Administrative is likely to drop about 11 M.
 2021 2022 2023 2024 (projected)
Cost Of Revenue437.1K2.9M10.2M10.7M
Reconciled Depreciation894.0K887.3K777.3K755.1K

Avicanna fundamental ratios Correlations

0.610.620.770.740.870.760.56-0.620.770.350.980.090.640.40.610.860.470.590.680.830.720.70.480.750.98
0.610.770.920.020.290.90.89-0.910.830.620.48-0.550.170.570.830.870.750.830.60.90.410.920.950.930.65
0.620.770.730.230.310.740.77-0.690.670.310.54-0.480.410.130.720.730.550.710.310.770.530.710.60.750.57
0.770.920.730.170.460.960.83-0.920.970.550.64-0.480.270.570.860.950.740.880.740.990.470.980.860.980.81
0.740.020.230.170.90.150.020.050.190.00.840.650.750.05-0.020.29-0.16-0.060.280.270.640.07-0.120.170.67
0.870.290.310.460.90.430.19-0.190.450.310.920.40.80.410.160.520.020.140.480.560.650.340.150.40.84
0.760.90.740.960.150.430.82-0.940.940.490.65-0.540.340.490.920.970.830.930.620.960.420.940.790.940.79
0.560.890.770.830.020.190.82-0.830.790.190.44-0.540.150.170.790.790.680.810.50.810.160.830.830.870.58
-0.62-0.91-0.69-0.920.05-0.19-0.94-0.83-0.91-0.5-0.470.58-0.03-0.46-0.97-0.93-0.93-0.98-0.65-0.88-0.39-0.95-0.89-0.95-0.66
0.770.830.670.970.190.450.940.79-0.910.430.65-0.450.270.450.880.940.770.90.710.950.440.970.770.970.8
0.350.620.310.550.00.310.490.19-0.50.430.27-0.230.110.920.370.490.40.360.410.530.60.540.620.490.39
0.980.480.540.640.840.920.650.44-0.470.650.270.230.710.330.480.760.340.460.60.720.720.560.330.630.96
0.09-0.55-0.48-0.480.650.4-0.54-0.540.58-0.45-0.230.230.14-0.15-0.58-0.36-0.55-0.620.0-0.450.25-0.52-0.49-0.440.05
0.640.170.410.270.750.80.340.15-0.030.270.110.710.140.110.080.32-0.080.05-0.040.420.440.15-0.090.210.55
0.40.570.130.570.050.410.490.17-0.460.450.920.33-0.150.110.290.480.310.310.590.550.440.530.590.470.48
0.610.830.720.86-0.020.160.920.79-0.970.880.370.48-0.580.080.290.920.960.990.540.830.380.90.770.90.63
0.860.870.730.950.290.520.970.79-0.930.940.490.76-0.360.320.480.920.830.910.720.950.570.930.780.960.88
0.470.750.550.74-0.160.020.830.68-0.930.770.40.34-0.55-0.080.310.960.830.940.460.690.320.810.750.810.5
0.590.830.710.88-0.060.140.930.81-0.980.90.360.46-0.620.050.310.990.910.940.580.840.330.910.780.910.63
0.680.60.310.740.280.480.620.5-0.650.710.410.60.0-0.040.590.540.720.460.580.690.420.720.660.70.78
0.830.90.770.990.270.560.960.81-0.880.950.530.72-0.450.420.550.830.950.690.840.690.50.950.790.950.85
0.720.410.530.470.640.650.420.16-0.390.440.60.720.250.440.440.380.570.320.330.420.50.450.340.50.66
0.70.920.710.980.070.340.940.83-0.950.970.540.56-0.520.150.530.90.930.810.910.720.950.450.880.990.73
0.480.950.60.86-0.120.150.790.83-0.890.770.620.33-0.49-0.090.590.770.780.750.780.660.790.340.880.890.54
0.750.930.750.980.170.40.940.87-0.950.970.490.63-0.440.210.470.90.960.810.910.70.950.50.990.890.78
0.980.650.570.810.670.840.790.58-0.660.80.390.960.050.550.480.630.880.50.630.780.850.660.730.540.78
Click cells to compare fundamentals

Avicanna Account Relationship Matchups

Avicanna fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets45.2M30.2M22.3M17.6M22.0M23.0M
Short Long Term Debt Total1.3M1.9M1.7M3.2M1.8M1.6M
Other Current Liab3.3M145.2K3.7M3.8M1.4M1.9M
Total Current Liabilities8.7M12.8M12.2M11.4M12.0M8.3M
Total Stockholder Equity22.4M6.0M1.1M(383.6K)(112.5K)(106.9K)
Net Tangible Assets4.4M8.1M5.5M847.0K974.0K925.3K
Net Debt829.2K671.2K1.6M2.0M1.3M723.3K
Retained Earnings(30.8M)(62.0M)(77.4M)(90.8M)(98.7M)(93.8M)
Accounts Payable5.2M6.6M7.3M4.8M8.9M4.8M
Cash441.8K1.3M31.0K1.2M477.2K652.9K
Non Current Assets Total41.2M23.4M14.9M10.6M13.5M18.1M
Non Currrent Assets Other3.8M526.3K(14.9M)(10.6M)(9.5M)(9.0M)
Cash And Short Term Investments441.8K2.5M31.0K1.2M477.2K826.1K
Net Receivables1.2M1.0M2.3M2.1M3.0M3.1M
Common Stock Shares Outstanding20.5M29.4M41.3M59.2M84.7M88.9M
Long Term Debt Total1.0M161.1K415.8K401.4K461.6K320.4K
Liabilities And Stockholders Equity45.2M30.2M22.3M17.6M22.0M23.0M
Non Current Liabilities Total6.6M3.4M3.2M2.8M2.0M2.5M
Inventory1.6M1.9M4.1M3.2M4.5M4.8M
Other Current Assets117.4K1.3M901.3K481.0K470.7K577.8K
Total Liab15.3M16.2M15.4M14.2M14.0M10.8M
Total Current Assets4.0M6.8M7.4M7.1M8.5M5.0M
Short Term Debt225.0K1.8M1.2M2.8M1.7M1.1M
Intangible Assets11.1M497.5K299.2K167.6K1.2M1.1M
Common Stock46.0M57.5M66.2M74.9M81.0M48.1M
Property Plant Equipment23.2M21.8M14.5M10.4M11.9M13.6M
Property Plant And Equipment Net23.2M21.8M14.5M10.4M12.0M15.5M
Other Stockholder Equity8.3M12.7M16.5M18.5M21.3M11.6M
Net Invested Capital23.1M7.6M2.7M2.5M1.4M1.4M
Property Plant And Equipment Gross23.2M23.4M16.3M11.9M14.3M16.6M
Accumulated Other Comprehensive Income(1.1M)(2.1M)(4.2M)(3.0M)17.6M18.5M
Net Working Capital(4.8M)(6.1M)(4.8M)(4.3M)(3.5M)(3.7M)
Other Liab5.5M3.3M2.8M2.4M2.1M2.7M
Capital Stock46.0M57.5M66.2M74.9M81.0M63.6M

Pair Trading with Avicanna

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

Moving against Avicanna Stock

  0.44ERC Eros Resources CorpPairCorr
The ability to find closely correlated positions to Avicanna could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Avicanna 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 Avicanna - 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 Avicanna to buy it.
The correlation of Avicanna 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 Avicanna moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Avicanna 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 Avicanna 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 Avicanna Stock

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