Canacol Inventory vs Cash Analysis

CNE Stock  CAD 4.06  0.03  0.74%   
Canacol Energy financial indicator trend analysis is way more than just evaluating Canacol Energy prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canacol Energy is a good investment. Please check the relationship between Canacol Energy Inventory and its Cash accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canacol Energy. 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.

Inventory vs Cash

Inventory vs Cash Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canacol Energy Inventory account and Cash. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Canacol Energy's Inventory and Cash is -0.13. Overlapping area represents the amount of variation of Inventory that can explain the historical movement of Cash in the same time period over historical financial statements of Canacol Energy, assuming nothing else is changed. The correlation between historical values of Canacol Energy's Inventory and Cash is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Inventory of Canacol Energy are associated (or correlated) with its Cash. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash has no effect on the direction of Inventory i.e., Canacol Energy's Inventory and Cash go up and down completely randomly.

Correlation Coefficient

-0.13
Relationship DirectionNegative 
Relationship StrengthInsignificant

Inventory

Cash

Cash refers to the most liquid asset of Canacol Energy, which is listed under current asset account on Canacol Energy balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Canacol Energy customers. The amounts must be unrestricted with restricted cash listed in a different Canacol Energy account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.
Most indicators from Canacol Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canacol Energy 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 Canacol Energy. 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, Canacol Energy's Enterprise Value Over EBITDA is very stable compared to the past year. As of the 11th of December 2024, Enterprise Value Multiple is likely to grow to 4.66, while Selling General Administrative is likely to drop about 25.5 M.
 2021 2022 2023 2024 (projected)
Gross Profit216.6M239.6M275.6M289.4M
Total Revenue310.5M335.7M315.8M331.6M

Canacol Energy fundamental ratios Correlations

0.80.660.980.90.320.260.980.260.79-0.180.92-0.060.960.880.42-0.020.370.150.830.780.84-0.25-0.050.720.94
0.80.540.710.660.470.350.750.350.51-0.070.63-0.250.760.740.510.310.150.440.880.720.76-0.090.010.550.72
0.660.540.610.33-0.160.330.640.340.350.10.350.180.410.380.350.33-0.20.260.560.60.370.080.080.520.39
0.980.710.610.910.350.220.970.210.84-0.260.94-0.020.950.870.37-0.090.490.130.740.70.82-0.2-0.120.640.94
0.90.660.330.910.49-0.030.93-0.030.78-0.280.98-0.140.970.90.19-0.30.59-0.060.740.740.82-0.33-0.090.720.98
0.320.47-0.160.350.49-0.070.36-0.140.1-0.70.42-0.30.460.56-0.13-0.120.340.110.450.340.550.06-0.640.390.46
0.260.350.330.22-0.03-0.070.120.990.21-0.020.13-0.150.190.190.820.5-0.280.530.25-0.170.29-0.13-0.07-0.090.17
0.980.750.640.970.930.360.120.110.76-0.260.920.00.950.890.26-0.10.420.060.780.840.78-0.26-0.120.760.94
0.260.350.340.21-0.03-0.140.990.110.220.070.13-0.150.190.170.850.49-0.290.520.25-0.170.27-0.150.03-0.10.17
0.790.510.350.840.780.10.210.760.22-0.040.85-0.070.830.630.48-0.180.570.030.530.410.69-0.220.170.270.81
-0.18-0.070.1-0.26-0.28-0.7-0.02-0.260.07-0.04-0.290.03-0.26-0.350.330.19-0.220.11-0.03-0.13-0.240.110.95-0.28-0.28
0.920.630.350.940.980.420.130.920.130.85-0.29-0.10.980.90.31-0.270.59-0.020.710.650.83-0.38-0.110.650.99
-0.06-0.250.18-0.02-0.14-0.3-0.150.0-0.15-0.070.03-0.1-0.14-0.11-0.27-0.260.24-0.31-0.250.03-0.340.13-0.070.0-0.16
0.960.760.410.950.970.460.190.950.190.83-0.260.98-0.140.930.37-0.150.530.090.790.710.87-0.34-0.090.671.0
0.880.740.380.870.90.560.190.890.170.63-0.350.9-0.110.930.27-0.10.440.060.740.750.76-0.3-0.230.670.93
0.420.510.350.370.19-0.130.820.260.850.480.330.31-0.270.370.270.41-0.060.570.47-0.030.49-0.050.35-0.040.35
-0.020.310.33-0.09-0.3-0.120.5-0.10.49-0.180.19-0.27-0.26-0.15-0.10.41-0.420.850.110.02-0.020.170.1-0.21-0.2
0.370.15-0.20.490.590.34-0.280.42-0.290.57-0.220.590.240.530.44-0.06-0.42-0.110.120.180.34-0.01-0.030.10.53
0.150.440.260.13-0.060.110.530.060.520.030.11-0.02-0.310.090.060.570.85-0.110.290.00.290.10.04-0.110.04
0.830.880.560.740.740.450.250.780.250.53-0.030.71-0.250.790.740.470.110.120.290.740.9-0.050.030.740.78
0.780.720.60.70.740.34-0.170.84-0.170.41-0.130.650.030.710.75-0.030.020.180.00.740.54-0.19-0.050.810.7
0.840.760.370.820.820.550.290.780.270.69-0.240.83-0.340.870.760.49-0.020.340.290.90.54-0.11-0.130.640.87
-0.25-0.090.08-0.2-0.330.06-0.13-0.26-0.15-0.220.11-0.380.13-0.34-0.3-0.050.17-0.010.1-0.05-0.19-0.110.07-0.27-0.36
-0.050.010.08-0.12-0.09-0.64-0.07-0.120.030.170.95-0.11-0.07-0.09-0.230.350.1-0.030.040.03-0.05-0.130.07-0.24-0.11
0.720.550.520.640.720.39-0.090.76-0.10.27-0.280.650.00.670.67-0.04-0.210.1-0.110.740.810.64-0.27-0.240.69
0.940.720.390.940.980.460.170.940.170.81-0.280.99-0.161.00.930.35-0.20.530.040.780.70.87-0.36-0.110.69
Click cells to compare fundamentals

Canacol Energy Account Relationship Matchups

Canacol Energy fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets754.1M749.8M843.8M1.0B1.2B1.3B
Total Current Liabilities97.8M92.6M77.1M193.4M164.9M173.1M
Total Stockholder Equity242.7M207.4M185.1M291.9M351.7M369.3M
Property Plant And Equipment Net560.0M587.6M601.0M673.9M794.4M834.1M
Net Debt327.4M321.8M374.0M453.7M637.0M668.9M
Retained Earnings4.9M(27.8M)(41.9M)78.4M138.1M145.0M
Cash41.2M68.3M138.5M58.5M39.4M40.2M
Non Current Assets Total620.8M596.3M625.4M880.3M1.1B1.1B
Cash And Short Term Investments41.2M68.6M138.5M60.8M39.4M41.6M
Common Stock Shares Outstanding36.1M36.1M35.6M34.1M34.1M35.8M
Short Term Investments16.6M1.5M1.2M289K0.02.3M
Liabilities And Stockholders Equity754.1M749.8M843.8M1.0B1.2B1.3B
Non Current Liabilities Total413.5M449.8M581.6M529.5M716.9M752.7M
Other Stockholder Equity68.4M66.6M67.2M67.4M77.6M93.9M
Total Liab511.3M542.4M658.6M722.9M881.8M925.8M
Property Plant And Equipment Gross560.0M587.6M1.3B1.4B1.5B1.6B
Total Current Assets133.3M153.5M218.4M134.6M151.6M83.8M
Accumulated Other Comprehensive Income68.4M66.6M67.2M67.4M67.5M70.8M
Short Term Debt12.9M11.9M6.8M36.2M3.2M3.1M
Other Current Liab26.3M22.6M14.4M19.9M14.9M15.6M
Current Deferred Revenue6.0M12.7M5.2M11.2M6.6M4.4M
Accounts Payable52.6M45.2M52.4M62.3M107.9M113.3M
Other Assets60.2M6.3M14.1M197.2M226.8M238.2M
Net Receivables67.4M81.3M76.9M54.4M107.9M113.3M
Inventory8.0M328K360K300K390K370.5K
Other Current Assets22.5M3.3M2.5M19.1M4.0M3.8M
Non Currrent Assets Other3.3M2.9M9.3M21.0M270.1M283.6M
Short Long Term Debt Total368.7M390.1M512.6M512.2M676.4M710.3M
Common Stock169.5M168.6M159.8M146.1M131.5M125.0M
Common Stock Total Equity707.1M159.1M169.5M168.6M151.7M144.1M
Other Liab57.7M71.7M75.8M53.5M61.6M66.5M
Net Tangible Assets242.7M207.4M185.1M291.9M262.7M223.4M
Long Term Debt333.4M359.9M492.0M463.2M663M385.6M
Long Term Investments655K2.4M10.4M9.1M17.3M9.3M
Property Plant Equipment560.0M587.6M601.0M673.9M775.0M585.0M
Long Term Debt Total355.8M378.1M505.8M476.0M547.4M399.3M
Capital Lease Obligations27.1M22.9M18.1M15.7M13.4M18.7M
Non Current Liabilities Other16.8M16.9M4.1M4.9M6.4M9.6M

Pair Trading with Canacol Energy

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

Moving together with Canacol Stock

  0.73ENB-PFC Enbridge Pref 11PairCorr

Moving against Canacol Stock

  0.75CCL-A CCL IndustriesPairCorr
  0.43ARA Aclara ResourcesPairCorr
The ability to find closely correlated positions to Canacol Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canacol Energy 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 Canacol Energy - 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 Canacol Energy to buy it.
The correlation of Canacol Energy 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 Canacol Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canacol Energy 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 Canacol Energy 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 Canacol Stock

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