Phoenix Total Other Income Expense Net vs Income Before Tax Analysis

The correlation between Phoenix Global's Total Other Income Expense Net and Income Before Tax is -0.28. Overlapping area represents the amount of variation of Total Other Income Expense Net that can explain the historical movement of Income Before Tax in the same time period over historical financial statements of Phoenix Global Mining, assuming nothing else is changed. The correlation between historical values of Phoenix Global's Total Other Income Expense Net and Income Before Tax 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 Other Income Expense Net of Phoenix Global Mining are associated (or correlated) with its Income Before Tax. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Before Tax has no effect on the direction of Total Other Income Expense Net i.e., Phoenix Global's Total Other Income Expense Net and Income Before Tax go up and down completely randomly.