Obsidian Other Current Assets vs Other Current Liab Analysis
OBE Stock | CAD 7.66 0.06 0.78% |
Obsidian Energy financial indicator trend analysis is much more than just breaking down Obsidian Energy prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Obsidian Energy is a good investment. Please check the relationship between Obsidian Energy Other Current Assets and its Other Current Liab accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Obsidian 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. To learn how to invest in Obsidian Stock, please use our How to Invest in Obsidian Energy guide.
Other Current Assets vs Other Current Liab
Other Current Assets vs Other Current Liab Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Obsidian Energy Other Current Assets account and Other Current Liab. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Obsidian Energy's Other Current Assets and Other Current Liab is 0.91. Overlapping area represents the amount of variation of Other Current Assets that can explain the historical movement of Other Current Liab in the same time period over historical financial statements of Obsidian Energy, assuming nothing else is changed. The correlation between historical values of Obsidian Energy's Other Current Assets and Other Current Liab is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Current Assets of Obsidian Energy are associated (or correlated) with its Other Current Liab. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Current Liab has no effect on the direction of Other Current Assets i.e., Obsidian Energy's Other Current Assets and Other Current Liab go up and down completely randomly.
Correlation Coefficient | 0.91 |
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Other Current Assets
Assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, which are not included under standard current asset categories.Other Current Liab
Most indicators from Obsidian Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Obsidian 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 Your Equity Center to better understand how to build diversified portfolios, which includes a position in Obsidian 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. To learn how to invest in Obsidian Stock, please use our How to Invest in Obsidian Energy guide.At this time, Obsidian Energy's Tax Provision is very stable compared to the past year. As of the 11th of December 2024, Enterprise Value Over EBITDA is likely to grow to 4.18, while Selling General Administrative is likely to drop about 18.1 M.
Obsidian Energy fundamental ratios Correlations
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Obsidian Energy Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Obsidian Energy fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 1.9B | 964.1M | 1.4B | 2.2B | 2.3B | 2.1B | |
Short Long Term Debt Total | 575M | 462.2M | 399.7M | 231.3M | 228M | 216.6M | |
Other Current Liab | 30.2M | 16.9M | 27.6M | 34.1M | 32.6M | 31.0M | |
Total Current Liabilities | 603M | 547.6M | 530.5M | 222.9M | 230M | 441.3M | |
Total Stockholder Equity | 1.1B | 323.1M | 763.5M | 1.6B | 1.6B | 3.1B | |
Property Plant And Equipment Net | 1.7B | 905.2M | 1.3B | 1.9B | 1.9B | 1.8B | |
Net Debt | 574M | 454.1M | 392.4M | 230.5M | 227.5M | 216.1M | |
Retained Earnings | (1.2B) | (2.0B) | (1.6B) | (743.4M) | (635.4M) | (667.2M) | |
Accounts Payable | 111M | 74.1M | 107.8M | 185.6M | 193.5M | 170.7M | |
Non Current Assets Total | 1.7B | 905.2M | 1.3B | 2.1B | 2.2B | 2.0B | |
Net Receivables | 70.5M | 40.8M | 68.9M | 82.6M | 70M | 66.5M | |
Common Stock Shares Outstanding | 72.9M | 73.3M | 77.6M | 84.4M | 84.1M | 59.8M | |
Liabilities And Stockholders Equity | 1.9B | 964.1M | 1.4B | 2.2B | 2.3B | 2.1B | |
Non Current Liabilities Total | 209M | 93.4M | 135.2M | 401.7M | 376.6M | 357.8M | |
Other Current Assets | 98M | 10M | 10.9M | 27.6M | 24.1M | 22.9M | |
Total Liab | 812M | 641M | 665.7M | 624.6M | 606.6M | 576.3M | |
Property Plant And Equipment Gross | 1.7B | 905.2M | 10.6B | 11.0B | 11.3B | 7.4B | |
Total Current Assets | 169M | 58.9M | 87.1M | 100.3M | 94.6M | 89.9M | |
Other Stockholder Equity | 102M | 103.6M | 103.2M | 101.2M | 91.1M | 86.5M | |
Accumulated Other Comprehensive Income | 102M | 103.6M | 103.2M | 101.2M | 104.1M | 109.3M | |
Non Currrent Assets Other | (700K) | (905.2M) | (1.3B) | (300K) | 1M | 950K | |
Short Term Debt | 463M | 456.6M | 395.1M | 3.2M | 3.9M | 3.7M | |
Other Liab | 97M | 87.8M | 130.6M | 173.6M | 156.2M | 148.4M | |
Net Tangible Assets | 1.1B | 323.1M | 763.5M | 1.6B | 1.4B | 1.9B | |
Long Term Debt | 402M | 27M | 0.0 | 225.3M | 218M | 207.1M | |
Cash And Short Term Investments | 1M | 8.1M | 7.3M | 800K | 500K | 475K | |
Inventory | 85M | 800K | 1.8M | 6.2M | 1.0 | 0.95 | |
Short Long Term Debt | 434M | 451.8M | 391M | 2M | 1.8M | 1.7M | |
Property Plant Equipment | 1.7B | 905.2M | 1.3B | 1.9B | 1.7B | 3.0B | |
Cash | 1M | 8.1M | 7.3M | 800K | 500K | 475K | |
Long Term Debt Total | 112M | 5.6M | 4.6M | 228.1M | 205.3M | 324.0M | |
Net Invested Capital | 1.6B | 774.9M | 1.2B | 1.8B | 1.9B | 1.4B | |
Net Working Capital | (434M) | (488.7M) | (443.4M) | (122.6M) | (135.4M) | (142.2M) |
Pair Trading with Obsidian 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 Obsidian 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 Obsidian Energy will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Obsidian 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 Obsidian 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 Obsidian 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 Obsidian Energy to buy it.
The correlation of Obsidian 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 Obsidian Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Obsidian 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 Obsidian 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.Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Obsidian 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. To learn how to invest in Obsidian Stock, please use our How to Invest in Obsidian Energy guide.You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.