Orvana Retained Earnings vs Other Assets Analysis
ORV Stock | CAD 0.27 0.01 3.57% |
Orvana Minerals financial indicator trend analysis is much more than just breaking down Orvana Minerals Corp prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Orvana Minerals Corp is a good investment. Please check the relationship between Orvana Minerals Retained Earnings and its Other Assets accounts. Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Orvana Minerals Corp. 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.
Retained Earnings vs Other Assets
Retained Earnings vs Other Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Orvana Minerals Corp Retained Earnings account and Other Assets. At this time, the significance of the direction appears to have strong contrarian relationship.
The correlation between Orvana Minerals' Retained Earnings and Other Assets is -0.58. Overlapping area represents the amount of variation of Retained Earnings that can explain the historical movement of Other Assets in the same time period over historical financial statements of Orvana Minerals Corp, assuming nothing else is changed. The correlation between historical values of Orvana Minerals' Retained Earnings and Other Assets is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Retained Earnings of Orvana Minerals Corp are associated (or correlated) with its Other Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Assets has no effect on the direction of Retained Earnings i.e., Orvana Minerals' Retained Earnings and Other Assets go up and down completely randomly.
Correlation Coefficient | -0.58 |
Relationship Direction | Negative |
Relationship Strength | Very Weak |
Retained Earnings
The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.Other Assets
Most indicators from Orvana Minerals' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Orvana Minerals Corp 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 Orvana Minerals Corp. 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, Orvana Minerals' Selling General Administrative is very stable compared to the past year. As of the 15th of December 2024, Sales General And Administrative To Revenue is likely to grow to 8.27, while Discontinued Operations is likely to drop (837.3 K).
Orvana Minerals fundamental ratios Correlations
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Orvana Minerals Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Orvana Minerals fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 150.9M | 144.9M | 128.8M | 123.2M | 141.7M | 128.1M | |
Short Long Term Debt Total | 22.0M | 14.7M | 20.2M | 16.1M | 18.6M | 21.2M | |
Total Current Liabilities | 48.1M | 45.6M | 41.1M | 38.4M | 44.2M | 27.5M | |
Total Stockholder Equity | 71.0M | 69.9M | 54.2M | 56.6M | 65.0M | 75.3M | |
Property Plant And Equipment Net | 73.4M | 70.9M | 63.8M | 59.1M | 67.9M | 76.8M | |
Net Debt | 6.5M | 3.4M | 13.7M | 7.8M | 9.0M | 9.4M | |
Retained Earnings | (49.1M) | (50.2M) | (62.0M) | (59.2M) | (68.1M) | (64.7M) | |
Accounts Payable | 27.0M | 25.9M | 16.5M | 12.3M | 14.2M | 13.1M | |
Cash | 15.6M | 11.3M | 6.5M | 8.3M | 9.6M | 18.2M | |
Non Current Assets Total | 114.0M | 109.4M | 100.1M | 97.1M | 111.7M | 90.4M | |
Non Currrent Assets Other | 25.8M | 25.8M | 23.7M | 38.0M | 43.7M | 45.9M | |
Cash And Short Term Investments | 15.6M | 11.3M | 6.5M | 8.3M | 9.6M | 18.2M | |
Net Receivables | 1.2M | 231K | 1.3M | 1.0M | 1.2M | 1.1M | |
Liabilities And Stockholders Equity | 150.9M | 144.9M | 128.8M | 123.2M | 141.7M | 128.1M | |
Non Current Liabilities Total | 31.9M | 29.5M | 33.5M | 28.3M | 32.5M | 28.4M | |
Other Current Assets | 8.0M | 8.7M | 8.4M | 4.1M | 4.8M | 9.4M | |
Other Stockholder Equity | 191.9M | 3.8M | 3.9M | 5.8M | 3.5M | 3.3M | |
Total Liab | 80.0M | 75.1M | 74.6M | 66.7M | 76.7M | 52.8M | |
Property Plant And Equipment Gross | 73.4M | 305.9M | 314.5M | 328.1M | 377.4M | 396.2M | |
Total Current Assets | 36.9M | 35.5M | 28.7M | 26.2M | 30.1M | 37.7M | |
Other Assets | 30.2M | 40.7M | 38.5M | 25.2M | 28.9M | 21.6M | |
Other Current Liab | 6.6M | 7.2M | 13.7M | 15.3M | 17.6M | 18.5M | |
Short Term Debt | 14.5M | 12.5M | 10.9M | 9.6M | 11.1M | 10.2M | |
Inventory | 12.1M | 15.2M | 12.4M | 12.7M | 14.6M | 11.8M | |
Other Liab | 27.2M | 24.4M | 27.3M | 24.2M | 21.8M | 22.4M | |
Net Tangible Assets | 72.5M | 71.0M | 69.9M | 54.2M | 48.8M | 69.3M | |
Short Long Term Debt | 13.5M | 11.0M | 10.7M | 8.6M | 9.9M | 11.9M | |
Property Plant Equipment | 84.1M | 73.4M | 70.9M | 63.8M | 57.4M | 73.7M | |
Long Term Debt | 5.7M | 2.2M | 9.3M | 6.2M | 7.2M | 6.2M | |
Long Term Debt Total | 7.6M | 7.5M | 2.2M | 9.3M | 10.7M | 11.3M | |
Capital Lease Obligations | 2.9M | 1.5M | 294K | 1.3M | 1.2M | 1.1M | |
Non Current Liabilities Other | 845K | 666K | 298K | 746K | 671.4K | 1.1M | |
Cash And Equivalents | 12.4M | 15.6M | 11.3M | 6.5M | 5.9M | 11.4M | |
Net Invested Capital | 90.1M | 83.0M | 74.1M | 71.4M | 64.3M | 70.2M | |
Net Working Capital | (11.2M) | (10.1M) | (12.4M) | (12.3M) | (11.0M) | (11.6M) |
Pair Trading with Orvana Minerals
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 Orvana Minerals 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 Orvana Minerals will appreciate offsetting losses from the drop in the long position's value.Moving together with Orvana Stock
Moving against Orvana Stock
0.84 | ENB | Enbridge | PairCorr |
0.83 | BNS | Bank of Nova Scotia | PairCorr |
0.71 | MFC | Manulife Financial Corp | PairCorr |
0.71 | CM | Canadian Imperial Bank | PairCorr |
0.56 | TRP | TC Energy Corp | PairCorr |
The ability to find closely correlated positions to Orvana Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orvana Minerals 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 Orvana Minerals - 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 Orvana Minerals Corp to buy it.
The correlation of Orvana Minerals 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 Orvana Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orvana Minerals Corp 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 Orvana Minerals 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.Other Information on Investing in Orvana Stock
Balance Sheet is a snapshot of the financial position of Orvana Minerals Corp at a specified time, usually calculated after every quarter, six months, or one year. Orvana Minerals Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Orvana Minerals 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 Orvana currently owns. An asset can also be divided into two categories, current and non-current.