Cardiol Free Cash Flow Per Share vs Interest Coverage Analysis
CRDL Stock | CAD 1.89 0.04 2.07% |
Cardiol Therapeutics financial indicator trend analysis is way more than just evaluating Cardiol Therapeutics prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Cardiol Therapeutics is a good investment. Please check the relationship between Cardiol Therapeutics Free Cash Flow Per Share and its Interest Coverage accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardiol Therapeutics Class. 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 Per Share vs Interest Coverage
Free Cash Flow Per Share vs Interest Coverage Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Cardiol Therapeutics Free Cash Flow Per Share account and Interest Coverage. At this time, the significance of the direction appears to have weak relationship.
The correlation between Cardiol Therapeutics' Free Cash Flow Per Share and Interest Coverage is 0.31. Overlapping area represents the amount of variation of Free Cash Flow Per Share that can explain the historical movement of Interest Coverage in the same time period over historical financial statements of Cardiol Therapeutics Class, assuming nothing else is changed. The correlation between historical values of Cardiol Therapeutics' Free Cash Flow Per Share and Interest Coverage 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 Per Share of Cardiol Therapeutics Class are associated (or correlated) with its Interest Coverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Interest Coverage has no effect on the direction of Free Cash Flow Per Share i.e., Cardiol Therapeutics' Free Cash Flow Per Share and Interest Coverage go up and down completely randomly.
Correlation Coefficient | 0.31 |
Relationship Direction | Positive |
Relationship Strength | Very Weak |
Free Cash Flow Per Share
The amount of cash a company generates after accounting for capital expenditures, divided by the number of outstanding shares. It represents the cash available for dividends, share buybacks, or debt repayment per share.Interest Coverage
Most indicators from Cardiol Therapeutics' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Cardiol Therapeutics 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 Cardiol Therapeutics Class. 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 drop to about 14.6 M. In addition to that, Issuance Of Capital Stock is likely to drop to about 39.4 M
2021 | 2022 | 2023 | 2024 (projected) | Depreciation And Amortization | 220.4K | 219.9K | 248.4K | 190.7K | Interest Income | 6.9M | 1.2M | 2.2M | 2.9M |
Cardiol Therapeutics fundamental ratios Correlations
Click cells to compare fundamentals
Cardiol Therapeutics Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Cardiol Therapeutics fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 15.5M | 15.9M | 87.9M | 62.0M | 36.7M | 38.6M | |
Short Long Term Debt Total | 190.8K | 156.6K | 117.6K | 72.9K | 174.3K | 133.9K | |
Other Current Liab | 640.1K | 2.5M | 11.5M | 9.8M | 8.3M | 5.1M | |
Total Current Liabilities | 690.5K | 2.5M | 11.6M | 9.8M | 8.3M | 5.5M | |
Total Stockholder Equity | 14.7M | 13.3M | 76.2M | 52.2M | 28.2M | 33.0M | |
Net Tangible Assets | 14.1M | 12.8M | 75.9M | 51.9M | 59.7M | 32.7M | |
Property Plant And Equipment Net | 584.0K | 479.6K | 356.5K | 295.7K | 337.1K | 329.6K | |
Net Debt | (6.8M) | (13.9M) | (83.8M) | (59.4M) | (34.7M) | (36.4M) | |
Retained Earnings | (31.2M) | (51.9M) | (83.5M) | (114.4M) | (142.6M) | (135.4M) | |
Accounts Payable | 561.3K | 1.8K | 4.2M | 8.3M | 7.6M | 8.0M | |
Cash | 7.0M | 14.0M | 83.9M | 59.5M | 34.9M | 34.3M | |
Non Current Assets Total | 1.1M | 943.2K | 735.7K | 590.5K | 547.4K | 610.6K | |
Cash And Short Term Investments | 7.0M | 14.0M | 83.9M | 59.5M | 34.9M | 34.3M | |
Net Receivables | 927.9K | 219.9K | 407.1K | 480.2K | 279.9K | 452.2K | |
Common Stock Shares Outstanding | 25.8M | 29.9M | 43.2M | 62.5M | 64.5M | 41.5M | |
Long Term Debt Total | 140.3K | 104.7K | 72.9K | 22.4K | 20.2K | 19.2K | |
Liabilities And Stockholders Equity | 15.5M | 15.9M | 87.9M | 62.0M | 36.7M | 38.6M | |
Non Current Liabilities Total | 140.3K | 104.7K | 72.9K | 22.4K | 158.5K | 109.5K | |
Other Current Assets | 5.4M | 686.9K | 2.8M | 1.5M | 941.4K | 1.9M | |
Other Stockholder Equity | 6.5M | 8.8M | 12.7M | 15.6M | 18.8M | 10.3M | |
Total Liab | 830.8K | 2.6M | 11.6M | 9.8M | 8.5M | 5.7M | |
Net Invested Capital | 14.7M | 13.3M | 76.2M | 52.2M | 60.0M | 33.4M | |
Property Plant And Equipment Gross | 584.0K | 479.6K | 713.9K | 788.6K | 906.9K | 478.6K | |
Total Current Assets | 14.4M | 14.9M | 87.1M | 61.4M | 36.2M | 37.8M | |
Accumulated Other Comprehensive Income | (76.3K) | 4.5M | 4.2M | 3.5M | 4.0M | 2.4M | |
Cash And Equivalents | 7.0M | 14.0M | 83.9M | 59.5M | 68.4M | 71.8M | |
Net Working Capital | 13.7M | 12.4M | 75.6M | 51.6M | 59.4M | 32.5M | |
Short Term Debt | 50.5K | 51.9K | 44.7K | 50.4K | 15.8K | 15.0K | |
Intangible Assets | 548.1K | 463.7K | 379.2K | 294.8K | 210.4K | 371.0K | |
Common Stock | 39.4M | 51.9M | 142.9M | 147.5M | 148.5M | 89.8M | |
Property Plant Equipment | 584.0K | 479.6K | 356.5K | 295.7K | 340.1K | 322.7K | |
Capital Surpluse | 4.8M | 8.8M | 12.7M | 15.6M | 17.9M | 9.5M | |
Capital Stock | 39.4M | 51.9M | 142.9M | 147.5M | 169.7M | 92.1M |
Pair Trading with Cardiol Therapeutics
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 Cardiol Therapeutics 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 Cardiol Therapeutics will appreciate offsetting losses from the drop in the long position's value.Moving together with Cardiol Stock
Moving against Cardiol Stock
The ability to find closely correlated positions to Cardiol Therapeutics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cardiol Therapeutics 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 Cardiol Therapeutics - 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 Cardiol Therapeutics Class to buy it.
The correlation of Cardiol Therapeutics 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 Cardiol Therapeutics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cardiol Therapeutics 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 Cardiol Therapeutics 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.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardiol Therapeutics Class. 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. You can also try the Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.