Hut Average Payables vs Pb Ratio Analysis

HUT Stock  CAD 38.00  2.78  7.89%   
Hut 8 financial indicator trend analysis is much more than just examining Hut 8 Mining latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Hut 8 Mining is a good investment. Please check the relationship between Hut 8 Average Payables and its Pb Ratio accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hut 8 Mining. 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.

Average Payables vs Pb Ratio

Average Payables vs Pb Ratio Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Hut 8 Mining Average Payables account and Pb Ratio. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Hut 8's Average Payables and Pb Ratio is -0.5. Overlapping area represents the amount of variation of Average Payables that can explain the historical movement of Pb Ratio in the same time period over historical financial statements of Hut 8 Mining, assuming nothing else is changed. The correlation between historical values of Hut 8's Average Payables and Pb Ratio is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Average Payables of Hut 8 Mining are associated (or correlated) with its Pb Ratio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Pb Ratio has no effect on the direction of Average Payables i.e., Hut 8's Average Payables and Pb Ratio go up and down completely randomly.

Correlation Coefficient

-0.5
Relationship DirectionNegative 
Relationship StrengthVery Weak

Average Payables

The average amount owed to suppliers and creditors over a specific period, reflecting the company's payment cycle and credit terms with suppliers.

Pb Ratio

Most indicators from Hut 8's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Hut 8 Mining 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hut 8 Mining. 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, Hut 8's Selling General Administrative is very stable compared to the past year. As of the 4th of December 2024, Sales General And Administrative To Revenue is likely to grow to 1.20, though Tax Provision is likely to grow to (1 M).

Hut 8 fundamental ratios Correlations

0.990.670.610.940.890.730.710.570.30.730.91-0.530.890.970.870.720.620.370.470.790.860.950.90.90.86
0.990.60.670.890.830.780.680.650.40.660.86-0.590.850.930.90.660.680.470.570.710.80.920.850.860.91
0.670.6-0.160.880.920.00.58-0.2-0.310.980.91-0.170.90.810.290.79-0.14-0.3-0.280.950.930.70.910.910.24
0.610.67-0.160.330.210.980.340.920.65-0.070.25-0.430.240.440.850.160.980.730.870.060.170.540.230.250.88
0.940.890.880.330.990.480.690.25-0.010.910.99-0.330.970.990.670.830.340.040.140.950.980.950.980.990.64
0.890.830.920.210.990.380.660.12-0.120.940.99-0.260.960.970.580.840.23-0.070.020.980.990.920.981.00.54
0.730.780.00.980.480.380.440.90.590.10.41-0.450.390.590.880.30.970.680.830.230.340.680.390.410.92
0.710.680.580.340.690.660.440.30.280.620.73-0.560.810.720.60.750.270.220.230.590.630.610.650.650.52
0.570.65-0.20.920.250.120.90.30.85-0.120.2-0.660.190.350.820.040.920.930.99-0.060.080.390.190.170.89
0.30.4-0.310.65-0.01-0.120.590.280.85-0.25-0.03-0.860.030.070.62-0.140.630.970.91-0.31-0.170.04-0.07-0.080.66
0.730.660.98-0.070.910.940.10.62-0.12-0.250.93-0.20.940.840.360.79-0.07-0.24-0.210.970.960.760.930.940.32
0.910.860.910.250.990.990.410.730.2-0.030.93-0.350.980.970.620.840.260.020.090.950.980.90.990.990.59
-0.53-0.59-0.17-0.43-0.33-0.26-0.45-0.56-0.66-0.86-0.2-0.35-0.43-0.37-0.67-0.2-0.42-0.8-0.7-0.09-0.21-0.26-0.3-0.28-0.66
0.890.850.90.240.970.960.390.810.190.030.940.98-0.430.950.620.820.220.040.090.920.950.860.950.960.57
0.970.930.810.440.990.970.590.720.350.070.840.97-0.370.950.750.830.460.130.250.910.950.970.960.970.72
0.870.90.290.850.670.580.880.60.820.620.360.62-0.670.620.750.510.830.670.770.420.540.760.590.610.98
0.720.660.790.160.830.840.30.750.04-0.140.790.84-0.20.820.830.510.16-0.13-0.050.830.840.780.790.820.41
0.620.68-0.140.980.340.230.970.270.920.63-0.070.26-0.420.220.460.830.160.720.870.070.190.560.250.260.87
0.370.47-0.30.730.04-0.070.680.220.930.97-0.240.02-0.80.040.130.67-0.130.720.97-0.26-0.120.120.01-0.030.74
0.470.57-0.280.870.140.020.830.230.990.91-0.210.09-0.70.090.250.77-0.050.870.97-0.17-0.030.280.080.060.83
0.790.710.950.060.950.980.230.59-0.06-0.310.970.95-0.090.920.910.420.830.07-0.26-0.170.990.860.950.970.38
0.860.80.930.170.980.990.340.630.08-0.170.960.98-0.210.950.950.540.840.19-0.12-0.030.990.910.981.00.51
0.950.920.70.540.950.920.680.610.390.040.760.9-0.260.860.970.760.780.560.120.280.860.910.890.930.74
0.90.850.910.230.980.980.390.650.19-0.070.930.99-0.30.950.960.590.790.250.010.080.950.980.890.980.58
0.90.860.910.250.991.00.410.650.17-0.080.940.99-0.280.960.970.610.820.26-0.030.060.971.00.930.980.58
0.860.910.240.880.640.540.920.520.890.660.320.59-0.660.570.720.980.410.870.740.830.380.510.740.580.58
Click cells to compare fundamentals

Hut 8 Account Relationship Matchups

Hut 8 fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets71.2M145.2M720.7M412.9M976.9M1.0B
Total Stockholder Equity42.7M115.6M566.0M357.4M643.0M675.2M
Net Debt23.1M22.9M(99.4M)16.9M227.9M239.3M
Cash2.9M2.8M140.1M30.5M40.8M20.9M
Non Current Assets Total56.5M39.9M252.6M167.3M895.6M940.4M
Non Currrent Assets Other21.5M6.0M45.7M27.2M512.6M538.2M
Cash And Short Term Investments2.9M2.8M140.1M30.5M47.4M49.7M
Common Stock Shares Outstanding18.1M18.8M26.8M37.6M55.3M58.0M
Liabilities And Stockholders Equity71.2M145.2M720.7M412.9M976.9M1.0B
Total Current Assets14.7M105.3M468.1M245.6M81.3M79.9M
Common Stock170.6M178.2M636.6M767.6M1.2M1.1M
Other Current Liab1.9M164.2K(12.3M)6.9M38.0M39.9M
Total Current Liabilities8.7M29.6M26.1M30.1M148.4M155.8M
Retained Earnings(134.6M)(115.5M)(188.3M)(431.1M)(132.2M)(138.8M)
Total Liab28.5M29.6M154.7M55.5M333.9M350.6M
Accumulated Other Comprehensive Income1.4M45.7M103.5M2.1M14.2M17.1M
Property Plant And Equipment Net34.4M33.3M206.9M125.0M174.9M102.7M
Accounts Payable563.9K3.7M7.1M6.0M19.7M20.7M
Other Assets5.8M1.0156.5M27.2M31.3M34.9M
Other Current Assets10.5M75.5M323.9M203.6M29.5M28.0M
Other Stockholder Equity5.3M(17.5M)(84.4M)(79.8M)759.8M797.8M
Short Long Term Debt Total26.0M25.8M40.7M47.4M268.8M282.2M
Non Current Liabilities Total19.8M307K128.7M31.4M185.5M194.7M
Short Term Debt6.2M25.8M16.5M16.2M87.2M91.5M

Pair Trading with Hut 8

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 Hut 8 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 Hut 8 will appreciate offsetting losses from the drop in the long position's value.

Moving together with Hut Stock

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The ability to find closely correlated positions to Hut 8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hut 8 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 Hut 8 - 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 Hut 8 Mining to buy it.
The correlation of Hut 8 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 Hut 8 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hut 8 Mining 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 Hut 8 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 Hut Stock

Balance Sheet is a snapshot of the financial position of Hut 8 Mining at a specified time, usually calculated after every quarter, six months, or one year. Hut 8 Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Hut 8 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 Hut currently owns. An asset can also be divided into two categories, current and non-current.