Canopy Book Value Per Share vs Average Inventory Analysis

WEED Stock  CAD 4.25  0.09  2.16%   
Canopy Growth financial indicator trend analysis is way more than just evaluating Canopy Growth Corp prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canopy Growth Corp is a good investment. Please check the relationship between Canopy Growth Book Value Per Share and its Average Inventory accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Canopy Growth 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.

Book Value Per Share vs Average Inventory

Book Value Per Share vs Average Inventory Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canopy Growth Corp Book Value Per Share account and Average Inventory. At this time, the significance of the direction appears to have significant contrarian relationship.
Book Value Per ShareAverage InventoryDiversified AwayBook Value Per ShareAverage InventoryDiversified Away100%
The correlation between Canopy Growth's Book Value Per Share and Average Inventory is -0.23. Overlapping area represents the amount of variation of Book Value Per Share that can explain the historical movement of Average Inventory in the same time period over historical financial statements of Canopy Growth Corp, assuming nothing else is changed. The correlation between historical values of Canopy Growth's Book Value Per Share and Average Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Book Value Per Share of Canopy Growth Corp are associated (or correlated) with its Average Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Average Inventory has no effect on the direction of Book Value Per Share i.e., Canopy Growth's Book Value Per Share and Average Inventory go up and down completely randomly.

Correlation Coefficient

-0.23
Relationship DirectionNegative 
Relationship StrengthInsignificant

Book Value Per Share

The ratio of equity available to common shareholders divided by the number of outstanding shares. This measure represents the value per share of a company according to its financial statements.

Average Inventory

The average amount of inventory a company holds over a certain period, which is used to calculate inventory turnover and efficiency in managing stock levels.
Most indicators from Canopy Growth's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canopy Growth 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 Current Watchlist to better understand how to build diversified portfolios, which includes a position in Canopy Growth 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.
As of the 6th of January 2025, Tax Provision is likely to grow to about 14.9 M, while Selling General Administrative is likely to drop about 5.5 M.

Canopy Growth fundamental ratios Correlations

0.790.640.98-0.42-0.410.950.940.730.910.530.760.860.960.930.560.780.760.70.910.920.160.960.890.810.95
0.790.780.690.03-0.660.680.650.490.550.70.850.870.680.650.820.850.810.840.920.880.440.770.530.740.85
0.640.780.55-0.09-0.740.660.570.270.460.950.810.720.620.590.570.510.830.670.620.560.850.680.450.610.78
0.980.690.55-0.58-0.260.970.960.690.930.470.640.730.970.980.490.650.650.570.870.880.070.960.970.680.89
-0.420.03-0.09-0.58-0.39-0.6-0.58-0.06-0.58-0.170.070.02-0.56-0.660.230.160.040.3-0.24-0.170.16-0.53-0.730.13-0.22
-0.41-0.66-0.74-0.26-0.39-0.29-0.23-0.27-0.15-0.65-0.9-0.69-0.29-0.25-0.59-0.56-0.9-0.7-0.44-0.44-0.64-0.39-0.08-0.68-0.66
0.950.680.660.97-0.6-0.290.990.650.950.570.630.720.990.980.50.620.660.590.820.810.240.940.960.660.88
0.940.650.570.96-0.58-0.230.990.70.980.470.580.710.990.950.520.650.620.60.810.820.160.910.960.670.85
0.730.490.270.69-0.06-0.270.650.70.720.070.480.70.690.60.50.760.540.710.620.74-0.080.60.610.810.7
0.910.550.460.93-0.58-0.150.950.980.720.340.50.680.970.910.430.640.540.550.730.760.040.850.930.660.79
0.530.70.950.47-0.17-0.650.570.470.070.340.710.540.510.540.480.320.710.490.540.450.850.650.40.40.65
0.760.850.810.640.07-0.90.630.580.480.50.710.880.640.620.690.750.990.80.760.750.510.730.470.830.91
0.860.870.720.730.02-0.690.720.710.70.680.540.880.760.650.620.930.870.870.810.850.350.770.550.950.92
0.960.680.620.97-0.56-0.290.990.990.690.970.510.640.760.960.50.680.670.610.830.830.180.940.950.710.88
0.930.650.590.98-0.66-0.250.980.950.60.910.540.620.650.960.480.550.640.490.830.810.150.950.980.580.85
0.560.820.570.490.23-0.590.50.520.50.430.480.690.620.50.480.730.680.850.760.750.350.520.380.590.65
0.780.850.510.650.16-0.560.620.650.760.640.320.750.930.680.550.730.730.910.820.880.140.650.480.910.8
0.760.810.830.650.04-0.90.660.620.540.540.710.990.870.670.640.680.730.810.720.730.540.730.490.850.92
0.70.840.670.570.3-0.70.590.60.710.550.490.80.870.610.490.850.910.810.740.80.430.580.410.90.81
0.910.920.620.87-0.24-0.440.820.810.620.730.540.760.810.830.830.760.820.720.740.980.160.880.760.710.87
0.920.880.560.88-0.17-0.440.810.820.740.760.450.750.850.830.810.750.880.730.80.980.10.860.750.80.89
0.160.440.850.070.16-0.640.240.16-0.080.040.850.510.350.180.150.350.140.540.430.160.10.240.020.270.37
0.960.770.680.96-0.53-0.390.940.910.60.850.650.730.770.940.950.520.650.730.580.880.860.240.90.670.91
0.890.530.450.97-0.73-0.080.960.960.610.930.40.470.550.950.980.380.480.490.410.760.750.020.90.510.76
0.810.740.610.680.13-0.680.660.670.810.660.40.830.950.710.580.590.910.850.90.710.80.270.670.510.89
0.950.850.780.89-0.22-0.660.880.850.70.790.650.910.920.880.850.650.80.920.810.870.890.370.910.760.89
Click cells to compare fundamentals

Canopy Growth Account Relationship Matchups

Canopy Growth fundamental ratios Accounts

202020212022202320242025 (projected)
Total Assets6.9B6.8B5.6B2.4B1.3B24.7M
Other Current Liab207.2M139.3M181.0M76.4M87.9M79.9M
Total Current Liabilities420.6M284.3M212.9M803.8M234.7M2.6M
Total Stockholder Equity4.9B3.5B3.6B758.4M500.4M20.6M
Net Debt428.3M725.0M629.9M497.7M572.4M601.0M
Retained Earnings(4.3B)(6.1B)(6.4B)(9.7B)(10.3B)(10.4M)
Cash1.3B1.2B776.0M677.0M170.3M5.5M
Cash And Short Term Investments2.3B1.4B782.6M205.8M236.7M224.9M
Common Stock Shares Outstanding371.7M391.3M46.4M74.8M86.0M122.0M
Short Term Investments1.1B595.7M105.6M33.2M38.1M36.2M
Liabilities And Stockholders Equity6.8B5.6B2.4B1.3B1.5B2.5B
Other Current Assets92.9M19.1M19.1M139.9M38.6M737.5K
Other Stockholder Equity2.6B2.4B2.5B2.5B2.6B1.7M
Total Liab1.7B3.2B2.0B1.7B799.8M4.1M
Total Current Assets2.6B2.8B1.7B1.1B371.2M9.8M
Accounts Payable123.4M67.3M64.3M31.8M28.7M2.3M
Non Current Liabilities Total2.9B1.8B875.2M565.1M649.9M790.9M
Common Stock6.4B7.2B7.5B7.9B8.2B28.3M
Short Long Term Debt Total1.6B1.5B1.3B668.0M768.2M673.0M
Property Plant And Equipment Net1.1B942.8M499.5M320.1M368.1M592.1M
Non Current Assets Total4.0B3.9B1.4B929.2M1.1B2.0B
Accumulated Other Comprehensive Income(34.2M)(42.3M)(13.9M)(16.1M)(14.4M)(13.7M)
Short Term Debt56.7M9.8M9.3M585.3M119.1M1.8M
Intangible Assets476.4M308.2M252.7M188.7M104.1M54.6K
Net Tangible Assets4.7B2.5B1.3B1.5B24.9M23.6M
Long Term Debt449.0M1.6B1.5B750.0M493.3M1.5M
Net Receivables90.2M92.4M96.4M68.5M51.8M502.3K
Inventory391.1M368.0M204.4M148.9M77.3M3.0M
Short Long Term Debt16.4M9.8M9.3M556.9M103.9M1.8M
Property Plant Equipment1.5B1.1B942.8M499.5M18.0M17.1M
Other Liab239.1M690.2M1.3B178.8M205.7M343.6M
Current Deferred Revenue37.6M41.1M100.8M76.0M87.4M91.8M
Property Plant And Equipment Gross1.3B1.2B499.5M418.3M481.0M712.0M
Non Currrent Assets Other5.0M15.3M141K325.5M374.4M393.1M
Other Assets102.5M479.5M19.8M1.01.151.09
Good Will1.9B1.9B85.6M43.2M49.7M47.2M
Long Term Debt Total500.7M1.6B1.5B789.6M908.1M831.0M
Long Term Investments708.3M341.7M568.3M136.2M156.7M148.8M
Non Current Liabilities Other613.1M135.9M124.9M16.2M18.6M17.7M

Pair Trading with Canopy Growth

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 Canopy Growth 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 Canopy Growth will appreciate offsetting losses from the drop in the long position's value.

Moving against Canopy Stock

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The ability to find closely correlated positions to Canopy Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canopy Growth 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 Canopy Growth - 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 Canopy Growth Corp to buy it.
The correlation of Canopy Growth 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 Canopy Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canopy Growth 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 Canopy Growth 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
When determining whether Canopy Growth Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Canopy Growth's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Canopy Growth Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Canopy Growth Corp Stock:
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Canopy Growth 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.
You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Please note, there is a significant difference between Canopy Growth's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canopy Growth is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canopy Growth's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.