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 DirectionNegative 
Relationship StrengthInsignificant

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 Profit331.9M390.3M444.2M247.1M
Total Revenue1.6B2.0B2.2B1.4B

Wajax fundamental ratios Correlations

0.710.960.78-0.240.80.7-0.220.770.390.910.890.66-0.620.8-0.42-0.610.950.680.680.430.780.980.740.730.84
0.710.60.96-0.090.571.0-0.080.950.290.540.70.82-0.630.9-0.19-0.620.60.470.890.440.840.680.390.510.56
0.960.60.7-0.360.880.59-0.350.720.260.940.810.66-0.660.76-0.37-0.650.960.770.680.370.80.960.770.830.85
0.780.960.7-0.10.630.94-0.090.970.220.680.720.86-0.760.93-0.27-0.750.720.480.90.440.890.750.60.560.73
-0.24-0.09-0.36-0.1-0.47-0.11.0-0.190.53-0.38-0.3-0.210.16-0.260.240.14-0.36-0.38-0.28-0.14-0.23-0.32-0.27-0.38-0.08
0.80.570.880.63-0.470.56-0.450.660.240.780.80.51-0.50.71-0.36-0.470.830.920.640.530.740.820.650.960.65
0.71.00.590.94-0.10.56-0.090.950.30.520.690.81-0.610.9-0.18-0.60.580.470.890.440.840.670.380.50.54
-0.22-0.08-0.35-0.091.0-0.45-0.09-0.180.54-0.37-0.29-0.20.14-0.250.240.13-0.34-0.36-0.26-0.14-0.22-0.31-0.26-0.36-0.07
0.770.950.720.97-0.190.660.95-0.180.220.710.680.92-0.80.96-0.24-0.790.720.50.960.350.950.750.610.580.73
0.390.290.260.220.530.240.30.540.220.180.340.060.020.21-0.010.030.250.230.120.090.20.320.080.220.24
0.910.540.940.68-0.380.780.52-0.370.710.180.730.7-0.740.75-0.45-0.730.970.590.650.260.780.920.910.680.91
0.890.70.810.72-0.30.80.69-0.290.680.340.730.46-0.320.76-0.62-0.320.790.710.520.690.670.830.610.750.6
0.660.820.660.86-0.210.510.81-0.20.920.060.70.46-0.890.89-0.17-0.90.660.30.930.060.930.660.620.40.74
-0.62-0.63-0.66-0.760.16-0.5-0.610.14-0.80.02-0.74-0.32-0.89-0.710.030.99-0.71-0.32-0.84-0.03-0.8-0.66-0.71-0.4-0.84
0.80.90.760.93-0.260.710.9-0.250.960.210.750.760.89-0.71-0.44-0.710.740.50.880.370.970.750.680.610.72
-0.42-0.19-0.37-0.270.24-0.36-0.180.24-0.24-0.01-0.45-0.62-0.170.03-0.440.1-0.37-0.17-0.03-0.41-0.35-0.3-0.61-0.28-0.31
-0.61-0.62-0.65-0.750.14-0.47-0.60.13-0.790.03-0.73-0.32-0.90.99-0.710.1-0.69-0.28-0.82-0.03-0.8-0.64-0.71-0.37-0.83
0.950.60.960.72-0.360.830.58-0.340.720.250.970.790.66-0.710.74-0.37-0.690.680.670.330.750.970.810.740.87
0.680.470.770.48-0.380.920.47-0.360.50.230.590.710.3-0.320.5-0.17-0.280.680.510.650.540.730.40.980.5
0.680.890.680.9-0.280.640.89-0.260.960.120.650.520.93-0.840.88-0.03-0.820.670.510.230.90.710.50.560.68
0.430.440.370.44-0.140.530.44-0.140.350.090.260.690.06-0.030.37-0.41-0.030.330.650.230.270.420.280.610.24
0.780.840.80.89-0.230.740.84-0.220.950.20.780.670.93-0.80.97-0.35-0.80.750.540.90.270.750.710.650.79
0.980.680.960.75-0.320.820.67-0.310.750.320.920.830.66-0.660.75-0.3-0.640.970.730.710.420.750.710.760.84
0.740.390.770.6-0.270.650.38-0.260.610.080.910.610.62-0.710.68-0.61-0.710.810.40.50.280.710.710.530.87
0.730.510.830.56-0.380.960.5-0.360.580.220.680.750.4-0.40.61-0.28-0.370.740.980.560.610.650.760.530.59
0.840.560.850.73-0.080.650.54-0.070.730.240.910.60.74-0.840.72-0.31-0.830.870.50.680.240.790.840.870.59
Click cells to compare fundamentals

Wajax Account Relationship Matchups

Wajax fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets1.0B981.4M1.1B1.2B1.5B766.5M
Short Long Term Debt Total406.8M379.3M321.6M303.0M500.9M525.9M
Total Stockholder Equity316.8M325.6M389.9M449.8M496.2M285.7M
Net Debt403.6M372.6M311.6M461.5M500.9M525.9M
Other Assets1.8M6.9M8.3M5.1M1.00.95
Common Stock Shares Outstanding20.4M20.5M22.0M22.2M22.3M19.9M
Liabilities And Stockholders Equity1.0B981.4M1.1B1.2B1.5B766.5M
Non Current Liabilities Total404.8M376.9M323.0M286.0M493.7M518.4M
Other Stockholder Equity7.2M7.7M8.4M9.0M7.6M7.2M
Total Liab728.3M655.7M690.9M800.1M977.1M1.0B
Other Current Liab124.7M114.0M143.6M94.1M149.3M90.4M
Total Current Liabilities323.4M278.9M367.9M514.1M483.4M284.2M
Property Plant And Equipment Net236.3M230.0M219.8M206.2M223.2M118.4M
Retained Earnings131.0M143.3M176.2M228.1M278.1M292.0M
Cash3.2M6.6M10.0M(158.4M)(142.6M)(135.5M)
Non Current Assets Total317.6M327.6M399.5M389.8M429.7M451.2M
Non Currrent Assets Other(315.8M)(320.7M)(391.2M)(376.9M)16.3M17.1M
Cash And Short Term Investments3.2M6.6M10.0M(158.4M)(142.6M)(135.5M)
Net Receivables265.3M238.3M265.0M369.1M384.5M211.8M
Common Stock Total Equity175.9M180.4M181.1M181.3M208.5M150.8M
Inventory414.9M357.4M388.7M462.2M639.6M671.6M
Other Current Assets44.1M51.4M17.7M28.8M19.5M19.2M
Property Plant And Equipment Gross236.3M230.0M423.5M446.6M491.6M516.1M
Total Current Assets727.5M653.8M681.4M860.1M1.0B557.9M
Short Term Debt20.7M23.9M30.5M67.9M35.8M21.5M
Common Stock181.1M181.3M206.7M207.6M210.0M164.6M
Accounts Payable169.8M132.0M173.2M308.2M270.8M177.1M
Good Will50.7M56.1M98.8M103.3M115.9M70.2M
Accumulated Other Comprehensive Income(2.4M)(6.6M)(1.4M)5.1M570K598.5K
Intangible Assets28.8M34.6M72.5M67.4M74.3M78.1M
Current Deferred Revenue8.3M7.9M20.6M20.6M22.8M15.2M
Other Liab18.7M21.5M32.0M19.6M22.5M18.2M
Net Tangible Assets237.2M234.9M218.5M279.1M320.9M245.7M
Long Term Debt279.7M226.2M153.4M139.4M324.1M213.5M
Property Plant Equipment236.3M230.0M219.8M206.2M237.2M170.9M
Long Term Debt Total386.1M355.4M291.0M266.5M306.4M269.7M
Capital Surpluse7.2M7.7M8.4M9.0M10.3M8.7M
Capital Lease Obligations127.1M153.0M168.1M158.4M175.4M112.0M

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

  0.83ELF-PH E L FinancialPairCorr

Moving against Wajax Stock

  0.76ELF E L FinancialPairCorr
  0.73FFH-PM Fairfax FinancialPairCorr
  0.66FFH Fairfax FinancialPairCorr
  0.66FFH-PD Fairfax FinancialPairCorr
  0.6TPX-B Molson Coors CanadaPairCorr
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.
Pair CorrelationCorrelation Matching

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.