| ITP Stock | | | USD 0.23 0.01 4.17% |
IT Tech financial indicator trend analysis is infinitely more than just investigating IT Tech Packaging recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether IT Tech Packaging is a good investment. Please check the relationship between IT Tech Total Assets and its Common Stock Total Equity accounts. Check out
Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in IT Tech Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
Total Assets vs Common Stock Total Equity
Total Assets vs Common Stock Total Equity Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
IT Tech Packaging Total Assets account and
Common Stock Total Equity. At this time, the significance of the direction appears to have strong relationship.
The correlation between IT Tech's Total Assets and Common Stock Total Equity is 0.61. Overlapping area represents the amount of variation of Total Assets that can explain the historical movement of Common Stock Total Equity in the same time period over historical financial statements of IT Tech Packaging, assuming nothing else is changed. The correlation between historical values of IT Tech's Total Assets and Common Stock Total Equity 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 Assets of IT Tech Packaging are associated (or correlated) with its Common Stock Total Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock Total Equity has no effect on the direction of Total Assets i.e., IT Tech's Total Assets and Common Stock Total Equity go up and down completely randomly.
Correlation Coefficient | 0.61 |
| Relationship Direction | Positive |
| Relationship Strength | Significant |
Total Assets
Total assets refers to the total amount of IT Tech assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in IT Tech Packaging books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.
Common Stock Total Equity
The total value of common stock equity held by shareholders, representing their ownership interest in the company.
Most indicators from IT Tech's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into IT Tech Packaging 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 IT Tech Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
At this time, IT Tech's
Tax Provision is relatively stable compared to the past year. As of 12/12/2024,
Sales General And Administrative To Revenue is likely to grow to 0.09, while
Selling General Administrative is likely to drop slightly above 6.7
M.
IT Tech fundamental ratios Correlations
Click cells to compare fundamentals
IT Tech Account Relationship Matchups
High Positive Relationship
High Negative Relationship
IT Tech fundamental ratios Accounts
Pair Trading with IT Tech
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 IT Tech 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 IT Tech will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to IT Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IT Tech 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 IT Tech - 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 IT Tech Packaging to buy it.
The correlation of IT Tech 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 IT Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if IT Tech Packaging 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 IT Tech 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.
Additional Tools for ITP Stock Analysis
When running IT Tech's price analysis, check to
measure IT Tech's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy IT Tech is operating at the current time. Most of IT Tech's value examination focuses on studying past and present price action to
predict the probability of IT Tech's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move IT Tech's price. Additionally, you may evaluate how the addition of IT Tech to your portfolios can decrease your overall portfolio volatility.