Foxx Income Tax Expense vs Reconciled Depreciation Analysis

The correlation between Foxx Development's Income Tax Expense and Reconciled Depreciation is 0.9. Overlapping area represents the amount of variation of Income Tax Expense that can explain the historical movement of Reconciled Depreciation in the same time period over historical financial statements of Foxx Development Holdings, assuming nothing else is changed. The correlation between historical values of Foxx Development's Income Tax Expense and Reconciled 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 Income Tax Expense of Foxx Development Holdings are associated (or correlated) with its Reconciled Depreciation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Reconciled Depreciation has no effect on the direction of Income Tax Expense i.e., Foxx Development's Income Tax Expense and Reconciled Depreciation go up and down completely randomly.