Wajax Cash And Short Term Investments vs Common Stock Analysis
WJX Stock | CAD 23.54 0.09 0.38% |
Wajax financial indicator trend analysis is more than just analyzing Wajax current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Wajax is a good investment. Please check the relationship between Wajax Cash And Short Term Investments and its Common Stock accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wajax. 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.
Cash And Short Term Investments vs Common Stock
Cash And Short Term Investments vs Common Stock Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Wajax Cash And Short Term Investments account and Common Stock. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Wajax's Cash And Short Term Investments and Common Stock is -0.37. Overlapping area represents the amount of variation of Cash And Short Term Investments that can explain the historical movement of Common Stock in the same time period over historical financial statements of Wajax, assuming nothing else is changed. The correlation between historical values of Wajax's Cash And Short Term Investments and Common Stock is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash And Short Term Investments of Wajax are associated (or correlated) with its Common Stock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock has no effect on the direction of Cash And Short Term Investments i.e., Wajax's Cash And Short Term Investments and Common Stock go up and down completely randomly.
Correlation Coefficient | -0.37 |
Relationship Direction | Negative |
Relationship Strength | Insignificant |
Cash And Short Term Investments
Short Term Investments is an account in the current assets section of Wajax balance sheet. This account contains Wajax investments that will expire within one year. These investments include stocks and bonds that can be liquidated by Wajax fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.Common Stock
Most indicators from Wajax's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Wajax 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 Wajax. 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 4th of December 2024, Enterprise Value is likely to grow to about 1.2 B, while Selling General Administrative is likely to drop about 227 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 331.9M | 390.3M | 444.2M | 247.1M | Total Revenue | 1.6B | 2.0B | 2.2B | 1.4B |
Wajax fundamental ratios Correlations
Click cells to compare fundamentals
Wajax Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Wajax fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 1.0B | 981.4M | 1.1B | 1.2B | 1.5B | 766.5M | |
Short Long Term Debt Total | 406.8M | 379.3M | 321.6M | 303.0M | 500.9M | 525.9M | |
Total Stockholder Equity | 316.8M | 325.6M | 389.9M | 449.8M | 496.2M | 285.7M | |
Net Debt | 403.6M | 372.6M | 311.6M | 461.5M | 500.9M | 525.9M | |
Other Assets | 1.8M | 6.9M | 8.3M | 5.1M | 1.0 | 0.95 | |
Common Stock Shares Outstanding | 20.4M | 20.5M | 22.0M | 22.2M | 22.3M | 19.9M | |
Liabilities And Stockholders Equity | 1.0B | 981.4M | 1.1B | 1.2B | 1.5B | 766.5M | |
Non Current Liabilities Total | 404.8M | 376.9M | 323.0M | 286.0M | 493.7M | 518.4M | |
Other Stockholder Equity | 7.2M | 7.7M | 8.4M | 9.0M | 7.6M | 7.2M | |
Total Liab | 728.3M | 655.7M | 690.9M | 800.1M | 977.1M | 1.0B | |
Other Current Liab | 124.7M | 114.0M | 143.6M | 94.1M | 149.3M | 90.4M | |
Total Current Liabilities | 323.4M | 278.9M | 367.9M | 514.1M | 483.4M | 284.2M | |
Property Plant And Equipment Net | 236.3M | 230.0M | 219.8M | 206.2M | 223.2M | 118.4M | |
Retained Earnings | 131.0M | 143.3M | 176.2M | 228.1M | 278.1M | 292.0M | |
Cash | 3.2M | 6.6M | 10.0M | (158.4M) | (142.6M) | (135.5M) | |
Non Current Assets Total | 317.6M | 327.6M | 399.5M | 389.8M | 429.7M | 451.2M | |
Non Currrent Assets Other | (315.8M) | (320.7M) | (391.2M) | (376.9M) | 16.3M | 17.1M | |
Cash And Short Term Investments | 3.2M | 6.6M | 10.0M | (158.4M) | (142.6M) | (135.5M) | |
Net Receivables | 265.3M | 238.3M | 265.0M | 369.1M | 384.5M | 211.8M | |
Common Stock Total Equity | 175.9M | 180.4M | 181.1M | 181.3M | 208.5M | 150.8M | |
Inventory | 414.9M | 357.4M | 388.7M | 462.2M | 639.6M | 671.6M | |
Other Current Assets | 44.1M | 51.4M | 17.7M | 28.8M | 19.5M | 19.2M | |
Property Plant And Equipment Gross | 236.3M | 230.0M | 423.5M | 446.6M | 491.6M | 516.1M | |
Total Current Assets | 727.5M | 653.8M | 681.4M | 860.1M | 1.0B | 557.9M | |
Short Term Debt | 20.7M | 23.9M | 30.5M | 67.9M | 35.8M | 21.5M | |
Common Stock | 181.1M | 181.3M | 206.7M | 207.6M | 210.0M | 164.6M | |
Accounts Payable | 169.8M | 132.0M | 173.2M | 308.2M | 270.8M | 177.1M | |
Good Will | 50.7M | 56.1M | 98.8M | 103.3M | 115.9M | 70.2M | |
Accumulated Other Comprehensive Income | (2.4M) | (6.6M) | (1.4M) | 5.1M | 570K | 598.5K | |
Intangible Assets | 28.8M | 34.6M | 72.5M | 67.4M | 74.3M | 78.1M | |
Current Deferred Revenue | 8.3M | 7.9M | 20.6M | 20.6M | 22.8M | 15.2M | |
Other Liab | 18.7M | 21.5M | 32.0M | 19.6M | 22.5M | 18.2M | |
Net Tangible Assets | 237.2M | 234.9M | 218.5M | 279.1M | 320.9M | 245.7M | |
Long Term Debt | 279.7M | 226.2M | 153.4M | 139.4M | 324.1M | 213.5M | |
Property Plant Equipment | 236.3M | 230.0M | 219.8M | 206.2M | 237.2M | 170.9M | |
Long Term Debt Total | 386.1M | 355.4M | 291.0M | 266.5M | 306.4M | 269.7M | |
Capital Surpluse | 7.2M | 7.7M | 8.4M | 9.0M | 10.3M | 8.7M | |
Capital Lease Obligations | 127.1M | 153.0M | 168.1M | 158.4M | 175.4M | 112.0M |
Pair Trading with Wajax
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 Wajax 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 Wajax will appreciate offsetting losses from the drop in the long position's value.Moving together with Wajax Stock
Moving against Wajax Stock
0.76 | ELF | E L Financial | PairCorr |
0.73 | FFH-PM | Fairfax Financial | PairCorr |
0.66 | FFH | Fairfax Financial | PairCorr |
0.66 | FFH-PD | Fairfax Financial | PairCorr |
0.6 | TPX-B | Molson Coors Canada | PairCorr |
The ability to find closely correlated positions to Wajax could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wajax 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 Wajax - 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 Wajax to buy it.
The correlation of Wajax 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 Wajax moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wajax 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 Wajax 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 Wajax Stock
Balance Sheet is a snapshot of the financial position of Wajax at a specified time, usually calculated after every quarter, six months, or one year. Wajax Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Wajax 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 Wajax currently owns. An asset can also be divided into two categories, current and non-current.