Canopy Income Quality vs Roic Analysis

WEED Stock

CAD 4.02 0.03 0.74%

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 Income Quality and its Roic 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.

Income Quality vs Roic

Income Quality vs Roic Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canopy Growth Corp Income Quality account and Roic. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Canopy Growth's Income Quality and Roic is -0.06. Overlapping area represents the amount of variation of Income Quality that can explain the historical movement of Roic 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 Income Quality and Roic is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Income Quality of Canopy Growth Corp are associated (or correlated) with its Roic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Roic has no effect on the direction of Income Quality i.e., Canopy Growth's Income Quality and Roic go up and down completely randomly.

Correlation Coefficient

-0.06

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

Income Quality

An assessment of the sustainability of a company's earnings over time, considering factors like revenue source diversification and cost structure.

Roic

Return on Invested Capital, a profitability ratio that measures the return that an investment generates for those who have provided capital, such as debt holders and equity holders.

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.

At this time, Canopy Growth's Tax Provision is very stable compared to the past year. As of the 29th of December 2024, Sales General And Administrative To Revenue is likely to grow to 5.23, while Selling General Administrative is likely to drop about 5.8 M.

Canopy Growth fundamental ratios Correlations

	Total Assets	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Net Debt	Retained Earnings	Cash	Cash And Short Term Investments	Common Stock Shares Outstanding	Short Term Investments	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Accounts Payable	Common Stock Total Equity	Non Current Liabilities Total	Common Stock	Short Long Term Debt Total	Property Plant And Equipment Net	Non Current Assets Total	Short Term Debt	Intangible Assets	Net Tangible Assets	Long Term Debt	Net Receivables
Total Assets		0.82	0.63	0.97	-0.4	-0.4	0.95	0.94	0.74	0.91	0.51	0.75	0.86	0.96	0.93	0.64	0.8	0.75	0.74	0.92	0.96	0.15	0.96	0.89	0.8	0.95
Other Current Liab	0.82		0.8	0.71	0.02	-0.68	0.7	0.66	0.5	0.56	0.72	0.88	0.89	0.7	0.67	0.83	0.85	0.84	0.84	0.92	0.89	0.44	0.8	0.54	0.76	0.88
Total Current Liabilities	0.63	0.8		0.53	-0.04	-0.74	0.65	0.57	0.26	0.45	0.95	0.81	0.71	0.6	0.58	0.66	0.52	0.82	0.71	0.62	0.6	0.85	0.67	0.44	0.6	0.77
Total Stockholder Equity	0.97	0.71	0.53		-0.56	-0.24	0.97	0.96	0.69	0.93	0.46	0.63	0.72	0.97	0.98	0.56	0.66	0.64	0.6	0.88	0.91	0.06	0.96	0.97	0.67	0.88
Net Debt	-0.4	0.02	-0.04	-0.56		-0.46	-0.58	-0.57	-0.05	-0.57	-0.13	0.13	0.08	-0.55	-0.65	0.17	0.17	0.11	0.28	-0.24	-0.21	0.19	-0.5	-0.73	0.18	-0.17
Retained Earnings	-0.4	-0.68	-0.74	-0.24	-0.46		-0.27	-0.22	-0.26	-0.13	-0.64	-0.9	-0.68	-0.27	-0.23	-0.71	-0.57	-0.9	-0.74	-0.44	-0.47	-0.64	-0.37	-0.05	-0.67	-0.65
Cash	0.95	0.7	0.65	0.97	-0.58	-0.27		0.99	0.65	0.95	0.56	0.62	0.72	0.99	0.97	0.57	0.63	0.65	0.62	0.82	0.85	0.23	0.94	0.96	0.65	0.87
Cash And Short Term Investments	0.94	0.66	0.57	0.96	-0.57	-0.22	0.99		0.69	0.98	0.46	0.58	0.71	1.0	0.96	0.56	0.66	0.61	0.62	0.81	0.84	0.15	0.91	0.96	0.67	0.85
Common Stock Shares Outstanding	0.74	0.5	0.26	0.69	-0.05	-0.26	0.65	0.69		0.72	0.06	0.48	0.7	0.7	0.6	0.53	0.77	0.54	0.73	0.62	0.74	-0.09	0.6	0.61	0.81	0.71
Short Term Investments	0.91	0.56	0.45	0.93	-0.57	-0.13	0.95	0.98	0.72		0.32	0.49	0.67	0.97	0.9	0.48	0.65	0.53	0.58	0.74	0.79	0.03	0.85	0.93	0.66	0.79
Other Current Assets	0.51	0.72	0.95	0.46	-0.13	-0.64	0.56	0.46	0.06	0.32		0.7	0.53	0.5	0.52	0.56	0.33	0.7	0.52	0.54	0.48	0.85	0.64	0.38	0.38	0.64
Other Stockholder Equity	0.75	0.88	0.81	0.63	0.13	-0.9	0.62	0.58	0.48	0.49	0.7		0.87	0.63	0.6	0.81	0.77	0.99	0.85	0.77	0.79	0.5	0.72	0.45	0.83	0.91
Total Liab	0.86	0.89	0.71	0.72	0.08	-0.68	0.72	0.71	0.7	0.67	0.53	0.87		0.75	0.64	0.71	0.95	0.86	0.91	0.81	0.89	0.33	0.76	0.54	0.95	0.91
Total Current Assets	0.96	0.7	0.6	0.97	-0.55	-0.27	0.99	1.0	0.7	0.97	0.5	0.63	0.75		0.96	0.57	0.69	0.66	0.65	0.83	0.87	0.17	0.94	0.95	0.7	0.88
Accounts Payable	0.93	0.67	0.58	0.98	-0.65	-0.23	0.97	0.96	0.6	0.9	0.52	0.6	0.64	0.96		0.55	0.55	0.62	0.52	0.84	0.84	0.14	0.94	0.98	0.57	0.85
Common Stock Total Equity	0.64	0.83	0.66	0.56	0.17	-0.71	0.57	0.56	0.53	0.48	0.56	0.81	0.71	0.57	0.55		0.75	0.82	0.85	0.79	0.72	0.4	0.61	0.43	0.68	0.76
Non Current Liabilities Total	0.8	0.85	0.52	0.66	0.17	-0.57	0.63	0.66	0.77	0.65	0.33	0.77	0.95	0.69	0.55	0.75		0.75	0.91	0.82	0.87	0.14	0.67	0.48	0.92	0.82
Common Stock	0.75	0.84	0.82	0.64	0.11	-0.9	0.65	0.61	0.54	0.53	0.7	0.99	0.86	0.66	0.62	0.82	0.75		0.86	0.73	0.77	0.54	0.72	0.48	0.84	0.91
Short Long Term Debt Total	0.74	0.84	0.71	0.6	0.28	-0.74	0.62	0.62	0.73	0.58	0.52	0.85	0.91	0.65	0.52	0.85	0.91	0.86		0.75	0.8	0.44	0.62	0.43	0.94	0.85
Property Plant And Equipment Net	0.92	0.92	0.62	0.88	-0.24	-0.44	0.82	0.81	0.62	0.74	0.54	0.77	0.81	0.83	0.84	0.79	0.82	0.73	0.75		0.97	0.15	0.89	0.76	0.72	0.89
Non Current Assets Total	0.96	0.89	0.6	0.91	-0.21	-0.47	0.85	0.84	0.74	0.79	0.48	0.79	0.89	0.87	0.84	0.72	0.87	0.77	0.8	0.97		0.11	0.91	0.78	0.83	0.94
Short Term Debt	0.15	0.44	0.85	0.06	0.19	-0.64	0.23	0.15	-0.09	0.03	0.85	0.5	0.33	0.17	0.14	0.4	0.14	0.54	0.44	0.15	0.11		0.22	0.0	0.26	0.36
Intangible Assets	0.96	0.8	0.67	0.96	-0.5	-0.37	0.94	0.91	0.6	0.85	0.64	0.72	0.76	0.94	0.94	0.61	0.67	0.72	0.62	0.89	0.91	0.22		0.89	0.66	0.9
Net Tangible Assets	0.89	0.54	0.44	0.97	-0.73	-0.05	0.96	0.96	0.61	0.93	0.38	0.45	0.54	0.95	0.98	0.43	0.48	0.48	0.43	0.76	0.78	0.0	0.89		0.5	0.76
Long Term Debt	0.8	0.76	0.6	0.67	0.18	-0.67	0.65	0.67	0.81	0.66	0.38	0.83	0.95	0.7	0.57	0.68	0.92	0.84	0.94	0.72	0.83	0.26	0.66	0.5		0.88
Net Receivables	0.95	0.88	0.77	0.88	-0.17	-0.65	0.87	0.85	0.71	0.79	0.64	0.91	0.91	0.88	0.85	0.76	0.82	0.91	0.85	0.89	0.94	0.36	0.9	0.76	0.88

Click cells to compare fundamentals

Canopy Growth Account Relationship Matchups

Canopy Growth fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	8.7B	6.9B	6.8B	5.6B	2.4B	1.3B
Other Current Liab	240.4M	207.2M	139.3M	181.0M	76.4M	79.9M
Total Current Liabilities	411.7M	420.6M	284.3M	212.9M	803.8M	234.7M
Total Stockholder Equity	7.0B	4.9B	3.5B	3.6B	758.4M	500.4M
Net Debt	(677.4M)	428.3M	725.0M	629.9M	497.7M	522.6M
Retained Earnings	(777.1M)	(4.3B)	(6.1B)	(6.4B)	(9.7B)	(10.3B)
Cash	2.5B	1.3B	1.2B	776.0M	677.0M	170.3M
Cash And Short Term Investments	2.0B	2.3B	1.4B	782.6M	205.8M	195.5M
Common Stock Shares Outstanding	34.8M	371.7M	391.3M	46.4M	74.8M	122.0M
Short Term Investments	673.3M	1.1B	595.7M	105.6M	33.2M	31.5M
Liabilities And Stockholders Equity	6.9B	6.8B	5.6B	2.4B	1.3B	2.5B
Other Current Assets	64.4M	92.9M	19.1M	19.1M	139.9M	38.6M
Other Stockholder Equity	1.6B	2.6B	2.4B	2.5B	2.5B	2.6B
Total Liab	1.5B	1.7B	3.2B	2.0B	1.7B	799.8M
Total Current Assets	5.1B	2.6B	2.8B	1.7B	1.1B	371.2M
Accounts Payable	188.9M	123.4M	67.3M	64.3M	31.8M	28.7M
Non Current Liabilities Total	1.3B	2.9B	1.8B	875.2M	565.1M	790.9M
Common Stock	6.0B	6.4B	7.2B	7.5B	7.9B	8.2B
Short Long Term Debt Total	625.8M	1.6B	1.5B	1.3B	668.0M	673.0M
Property Plant And Equipment Net	1.5B	1.1B	942.8M	499.5M	320.1M	592.1M
Non Current Assets Total	4.3B	4.0B	3.9B	1.4B	929.2M	882.7M
Accumulated Other Comprehensive Income	220.9M	(34.2M)	(42.3M)	(13.9M)	(16.1M)	(15.2M)
Short Term Debt	103.7M	56.7M	9.8M	9.3M	585.3M	119.1M
Intangible Assets	519.6M	476.4M	308.2M	252.7M	188.7M	104.1M
Net Tangible Assets	4.7B	2.5B	1.3B	1.5B	24.9M	23.6M
Long Term Debt	842.3M	449.0M	1.6B	1.5B	750.0M	493.3M
Net Receivables	107.0M	90.2M	92.4M	96.4M	68.5M	51.8M
Inventory	262.1M	391.1M	368.0M	204.4M	148.9M	77.3M
Short Long Term Debt	103.7M	16.4M	9.8M	9.3M	556.9M	103.9M
Property Plant Equipment	1.1B	1.5B	1.1B	942.8M	499.5M	14.8M
Other Liab	239.1M	690.2M	1.3B	178.8M	205.7M	343.6M
Current Deferred Revenue	37.6M	41.1M	100.8M	76.0M	87.4M	91.8M
Property Plant And Equipment Gross	1.5B	1.3B	1.2B	499.5M	418.3M	712.0M
Non Currrent Assets Other	18.7M	5.0M	15.3M	141K	325.5M	341.8M
Other Assets	22.6M	102.5M	479.5M	19.8M	1.0	0.95
Good Will	2.0B	1.9B	1.9B	85.6M	43.2M	41.1M
Long Term Debt Total	500.7M	1.6B	1.5B	789.6M	908.1M	831.0M
Long Term Investments	315.1M	708.3M	341.7M	568.3M	136.2M	129.4M
Non Current Liabilities Other	440.7M	613.1M	135.9M	124.9M	16.2M	15.4M

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

0.81	ERE-UN	European Residential Real	Pair Corr
0.77	SEC	Senvest Capital	Pair Corr
0.72	LB	Laurentian Bank	Pair Corr
0.72	VLE	Valeura Energy	Pair Corr
0.71	FFH-PH	Fairfax Financial	Pair Corr

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 Correlation Correlation 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:

How To Invest In Canopy

Details

Is Canopy Stock a good investment?

Details

What is Canopy Growth's Net Worth?

Details

Largest Pharmaceuticals Companies

View

Largest Pharmaceuticals, Biotechnology & Life Sciences Companies

View

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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Canopy Income Quality vs Roic Analysis

Income Quality vs Roic

Income Quality vs Roic Correlation Analysis

Correlation Coefficient

Income Quality

Roic

Canopy Growth fundamental ratios Correlations

Canopy Growth Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Canopy Growth fundamental ratios Accounts

Pair Trading with Canopy Growth

Moving against Canopy Stock

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Total Current Assets	+ 1.0	Cash And Short Term Investments
Cash And Short Term Investments	+ 0.99	Cash
Total Current Assets	+ 0.99	Cash
Common Stock	+ 0.99	Other Stockholder Equity
Accounts Payable	+ 0.98	Total Stockholder Equity
Short Term Investments	+ 0.98	Cash And Short Term Investments

Common Stock	- 0.9	Retained Earnings
Other Stockholder Equity	- 0.9	Retained Earnings
Short Long Term Debt Total	- 0.74	Retained Earnings
Retained Earnings	- 0.74	Total Current Liabilities
Net Tangible Assets	- 0.73	Net Debt
Common Stock Total Equity	- 0.71	Retained Earnings