Canagold Total Stockholder Equity vs Non Currrent Assets Other Analysis

CCM Stock  CAD 0.30  0.02  7.14%   
Canagold Resources financial indicator trend analysis is way more than just evaluating Canagold Resources prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canagold Resources is a good investment. Please check the relationship between Canagold Resources Total Stockholder Equity and its Non Currrent Assets Other accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canagold 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.

Total Stockholder Equity vs Non Currrent Assets Other

Total Stockholder Equity vs Non Currrent Assets Other Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canagold Resources Total Stockholder Equity account and Non Currrent Assets Other. At this time, the significance of the direction appears to have no relationship.
The correlation between Canagold Resources' Total Stockholder Equity and Non Currrent Assets Other is 0.05. Overlapping area represents the amount of variation of Total Stockholder Equity that can explain the historical movement of Non Currrent Assets Other in the same time period over historical financial statements of Canagold Resources, assuming nothing else is changed. The correlation between historical values of Canagold Resources' Total Stockholder Equity and Non Currrent Assets Other 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 Stockholder Equity of Canagold Resources are associated (or correlated) with its Non Currrent Assets Other. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Non Currrent Assets Other has no effect on the direction of Total Stockholder Equity i.e., Canagold Resources' Total Stockholder Equity and Non Currrent Assets Other go up and down completely randomly.

Correlation Coefficient

0.05
Relationship DirectionPositive 
Relationship StrengthInsignificant

Total Stockholder Equity

The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.

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.
Most indicators from Canagold Resources' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canagold 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Canagold 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.
At this time, Canagold Resources' Selling General Administrative is very stable compared to the past year. As of the 4th of December 2024, Discontinued Operations is likely to grow to about 5.8 M, though Tax Provision is likely to grow to (30.4 K).

Canagold Resources fundamental ratios Correlations

-0.240.071.00.92-0.480.030.430.50.920.020.60.750.590.480.60.31-0.240.520.920.670.110.340.510.790.02
-0.240.69-0.3-0.090.4-0.73-0.54-0.37-0.09-0.08-0.430.050.03-0.39-0.01-0.32-0.170.27-0.09-0.44-0.77-0.18-0.460.210.13
0.070.69-0.010.330.57-0.37-0.12-0.550.33-0.38-0.520.370.10.060.27-0.290.070.620.33-0.46-0.57-0.020.170.260.4
1.0-0.3-0.010.89-0.540.080.430.550.890.050.660.70.570.490.550.32-0.240.450.890.710.170.320.480.76-0.02
0.92-0.090.330.89-0.11-0.080.480.131.0-0.050.250.80.620.420.680.18-0.140.691.00.35-0.10.410.550.790.3
-0.480.40.57-0.54-0.11-0.2-0.05-1.0-0.11-0.18-0.98-0.15-0.17-0.29-0.05-0.420.330.18-0.11-0.95-0.470.01-0.04-0.280.65
0.03-0.73-0.370.08-0.08-0.2-0.040.22-0.07-0.030.26-0.4-0.610.14-0.44-0.240.45-0.51-0.080.140.86-0.470.43-0.56-0.1
0.43-0.54-0.120.430.48-0.05-0.040.010.48-0.10.10.630.720.650.730.72-0.040.550.480.30.080.890.530.40.13
0.5-0.37-0.550.550.13-1.00.220.010.130.170.990.140.130.250.020.38-0.32-0.190.130.940.47-0.060.050.29-0.65
0.92-0.090.330.891.0-0.11-0.070.480.13-0.050.250.80.620.420.680.18-0.140.691.00.35-0.10.410.550.790.3
0.02-0.08-0.380.05-0.05-0.18-0.03-0.10.17-0.050.18-0.10.05-0.11-0.07-0.14-0.25-0.2-0.050.150.3-0.04-0.20.040.14
0.6-0.43-0.520.660.25-0.980.260.10.990.250.180.210.190.350.080.38-0.31-0.140.250.960.49-0.010.120.35-0.58
0.750.050.370.70.8-0.15-0.40.630.140.8-0.10.210.860.470.950.49-0.250.920.80.42-0.270.680.520.840.14
0.590.030.10.570.62-0.17-0.610.720.130.620.050.190.860.430.880.68-0.460.760.630.41-0.380.880.160.850.07
0.48-0.390.060.490.42-0.290.140.650.250.42-0.110.350.470.430.390.44-0.170.360.420.470.230.470.40.330.02
0.6-0.010.270.550.68-0.05-0.440.730.020.68-0.070.080.950.880.390.57-0.240.920.680.3-0.290.810.540.760.18
0.31-0.32-0.290.320.18-0.42-0.240.720.380.18-0.140.380.490.680.440.57-0.230.340.180.540.070.780.180.41-0.54
-0.24-0.170.07-0.24-0.140.330.45-0.04-0.32-0.14-0.25-0.31-0.25-0.46-0.17-0.24-0.23-0.19-0.14-0.350.2-0.220.25-0.540.13
0.520.270.620.450.690.18-0.510.55-0.190.69-0.2-0.140.920.760.360.920.34-0.190.690.07-0.460.650.50.730.31
0.92-0.090.330.891.0-0.11-0.080.480.131.0-0.050.250.80.630.420.680.18-0.140.690.35-0.10.410.550.790.3
0.67-0.44-0.460.710.35-0.950.140.30.940.350.150.960.420.410.470.30.54-0.350.070.350.410.220.20.47-0.52
0.11-0.77-0.570.17-0.1-0.470.860.080.47-0.10.30.49-0.27-0.380.23-0.290.070.2-0.46-0.10.41-0.280.37-0.41-0.36
0.34-0.18-0.020.320.410.01-0.470.89-0.060.41-0.04-0.010.680.880.470.810.78-0.220.650.410.22-0.280.240.570.1
0.51-0.460.170.480.55-0.040.430.530.050.55-0.20.120.520.160.40.540.180.250.50.550.20.370.240.170.15
0.790.210.260.760.79-0.28-0.560.40.290.790.040.350.840.850.330.760.41-0.540.730.790.47-0.410.570.170.07
0.020.130.4-0.020.30.65-0.10.13-0.650.30.14-0.580.140.070.020.18-0.540.130.310.3-0.52-0.360.10.150.07
Click cells to compare fundamentals

Canagold Resources Account Relationship Matchups

Canagold Resources fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets18.3M23.6M27.6M32.6M33.2M20.0M
Other Current Liab194.9K358.7K1.2M1.4M62.058.9
Total Current Liabilities231K390K1.2M1.4M714K591.8K
Total Stockholder Equity17.9M23.1M26.3M29.5M30.7M19.2M
Property Plant And Equipment Net16.2M15.9M23.8M26.8M28.0M17.4M
Net Debt(1.8M)(6.1M)(2.0M)(3.6M)(2.6M)(2.5M)
Retained Earnings(47.6M)(49.3M)(51.1M)(52.8M)(55.5M)(58.3M)
Accounts Payable149.0324.0929.01.3K652K684.6K
Cash1.9M6.1M2.0M3.8M2.8M1.7M
Non Current Assets Total16.2M15.9M23.8M26.8M28.0M17.5M
Non Currrent Assets Other14.6M14.3M0.01.5M1.8M2.1M
Cash And Short Term Investments2.0M7.4M3.3M4.7M4.3M2.3M
Net Receivables76K297K450K1.1M924K970.2K
Common Stock Shares Outstanding49.4M56.5M78.5M89.4M145.9M153.2M
Short Term Investments104K1.3M1.3M855K1.5M1.6M
Liabilities And Stockholders Equity18.3M23.6M27.6M32.6M33.2M20.0M
Other Current Assets76.0297.0450.01.1K924K970.2K
Other Stockholder Equity709K821K1.7M815K656K623.2K
Total Liab393K526K1.3M3.1M2.5M2.6M
Property Plant And Equipment Gross16.2M15.9M24.1M26.9M28.1M17.4M
Total Current Assets2.1M7.7M3.8M5.8M5.3M5.5M
Short Term Debt36K31K21K62K55.8K53.0K
Accumulated Other Comprehensive Income(2.5M)(2.0M)(2.0M)(4.0M)(3.2M)(3.0M)
Common Stock67.3M73.6M77.8M85.5M88.8M74.9M
Inventory(76.0)(297.0)(450.0)(1.1K)(924.0)(970.2)
Net Tangible Assets17.9M23.1M26.3M29.5M33.9M20.5M
Property Plant Equipment16.2M15.9M23.8M26.8M30.8M17.3M
Common Stock Total Equity66.3M66.3M67.3M73.6M84.6M73.4M
Other Liab123K116K107K1.5M1.7M1.8M
Net Invested Capital17.9M23.1M26.3M29.5M30.7M25.8M
Net Working Capital1.9M7.3M2.6M4.4M4.6M4.5M
Capital Stock67.3M73.6M77.8M85.5M88.8M84.2M

Pair Trading with Canagold 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 Canagold 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 Canagold Resources will appreciate offsetting losses from the drop in the long position's value.

Moving against Canagold Stock

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The ability to find closely correlated positions to Canagold 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 Canagold 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 Canagold 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 Canagold Resources to buy it.
The correlation of Canagold 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 Canagold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canagold 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 Canagold 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 Canagold Stock

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