Worksport Total Revenue vs Short Term Debt Analysis
WKSP Stock | USD 0.84 0.01 1.20% |
Worksport financial indicator trend analysis is more than just analyzing Worksport current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Worksport is a good investment. Please check the relationship between Worksport Total Revenue and its Short Term Debt accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state. To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.
Total Revenue vs Short Term Debt
Total Revenue vs Short Term Debt Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Worksport Total Revenue account and Short Term Debt. At this time, the significance of the direction appears to have strong relationship.
The correlation between Worksport's Total Revenue and Short Term Debt is 0.64. Overlapping area represents the amount of variation of Total Revenue that can explain the historical movement of Short Term Debt in the same time period over historical financial statements of Worksport, assuming nothing else is changed. The correlation between historical values of Worksport's Total Revenue and Short Term Debt 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 Revenue of Worksport are associated (or correlated) with its Short Term Debt. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Short Term Debt has no effect on the direction of Total Revenue i.e., Worksport's Total Revenue and Short Term Debt go up and down completely randomly.
Correlation Coefficient | 0.64 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Total Revenue
Total revenue comprises all receipts Worksport generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Short Term Debt
Most indicators from Worksport's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Worksport 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 Worksport. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state. To learn how to invest in Worksport Stock, please use our How to Invest in Worksport guide.At this time, Worksport's Selling General Administrative is relatively stable compared to the past year. As of 12/22/2024, Issuance Of Capital Stock is likely to grow to about 5.5 M, while Enterprise Value Over EBITDA is likely to drop (2.32).
2021 | 2022 | 2023 | 2024 (projected) | Depreciation And Amortization | 211.7K | 486.6K | 1.1M | 1.2M | Cost Of Revenue | 350.7K | 57.0K | 1.3M | 1.4M |
Worksport fundamental ratios Correlations
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Worksport Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Worksport fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 481.3K | 1.9M | 36.3M | 32.8M | 26.0M | 27.3M | |
Short Long Term Debt Total | 357.7K | 712.8K | 857.1K | 6.6M | 6.2M | 6.6M | |
Other Current Liab | 82.4K | 36.8K | 48.2K | 112.2K | 85.0K | 136.5K | |
Total Current Liabilities | 1.3M | 1.7M | 1.8M | 2.5M | 7.2M | 7.5M | |
Total Stockholder Equity | (882.6K) | 169.5K | 34.2M | 24.1M | 18.2M | 19.1M | |
Net Debt | 345.7K | (395.0K) | (27.7M) | (7.6M) | 3.6M | 3.8M | |
Retained Earnings | (10.8M) | (12.9M) | (20.8M) | (33.4M) | (48.3M) | (45.9M) | |
Accounts Payable | 969.3K | 971.7K | 1.1M | 2.0M | 1.5M | 1.5M | |
Cash | 12.0K | 1.1M | 28.6M | 14.2M | 3.4M | 3.5M | |
Cash And Short Term Investments | 12.0K | 1.1M | 28.6M | 14.2M | 3.4M | 3.7M | |
Common Stock Shares Outstanding | 1.8M | 2.7M | 11.5M | 17.1M | 17.7M | 18.6M | |
Liabilities And Stockholders Equity | 481.3K | 1.9M | 36.3M | 32.8M | 26.0M | 27.3M | |
Non Current Liabilities Total | 39.2K | 14.6K | 317.0K | 6.2M | 608.8K | 586.8K | |
Other Stockholder Equity | 9.9M | 13.0M | 55.0M | 57.5M | 64.7M | 67.9M | |
Total Liab | 1.4M | 1.7M | 2.1M | 8.6M | 7.8M | 8.2M | |
Total Current Assets | 253.7K | 1.7M | 34.0M | 18.3M | 9.1M | 4.8M | |
Short Term Debt | 318.5K | 698.2K | 540.1K | 433.4K | 5.6M | 5.9M | |
Common Stock | 4.2K | 7.6K | 1.7K | 1.7K | 2.0K | 2.7K | |
Common Stock Total Equity | 12.2K | 2.5K | 4.2K | 7.6K | 8.8K | 9.2K | |
Non Current Assets Total | 227.6K | 217.4K | 2.3M | 14.4M | 16.8M | 17.7M | |
Net Receivables | 67.8K | 290.6K | 247.4K | 330.6K | 629.0K | 660.4K | |
Inventory | 113.2K | 40.8K | 501.8K | 1.3M | 3.6M | 3.8M | |
Other Current Assets | 60.7K | 245.5K | 4.7M | 2.0M | 1.5M | 954.8K | |
Intangible Assets | 57.1K | 62.9K | 593.1K | 1.3M | 1.3M | 1.4M | |
Property Plant And Equipment Net | 154.8K | 130.0K | 1.6M | 13.1M | 15.4M | 16.2M | |
Property Plant And Equipment Gross | 154.8K | 130.0K | 1.7M | 13.7M | 17.1M | 17.9M | |
Net Tangible Assets | (939.7K) | 106.5K | 33.6M | 22.8M | 26.3M | 27.6M | |
Short Long Term Debt | 296.5K | 674.3K | 327.1K | 46.1K | 5.3M | 5.6M | |
Property Plant Equipment | 154.8K | 130.0K | 1.6M | 12.5M | 14.4M | 15.1M | |
Net Invested Capital | (586.0K) | 843.8K | 34.5M | 29.5M | 23.5M | 13.9M | |
Net Working Capital | (1.1M) | (33.3K) | 32.2M | 15.9M | 2.0M | 1.9M | |
Capital Stock | 4.2K | 7.6K | 1.7K | 1.7K | 2.0K | 4.0K |
Pair Trading with Worksport
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 Worksport 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 Worksport will appreciate offsetting losses from the drop in the long position's value.Moving against Worksport Stock
0.72 | HOG | Harley Davidson | PairCorr |
0.67 | FFIE | Faraday Future Intel | PairCorr |
0.67 | FOXF | Fox Factory Holding | PairCorr |
0.63 | HMC | Honda Motor | PairCorr |
0.58 | VLCN | Volcon Inc | PairCorr |
The ability to find closely correlated positions to Worksport could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worksport 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 Worksport - 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 Worksport to buy it.
The correlation of Worksport 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 Worksport moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worksport 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 Worksport 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.Additional Tools for Worksport Stock Analysis
When running Worksport's price analysis, check to measure Worksport's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Worksport is operating at the current time. Most of Worksport's value examination focuses on studying past and present price action to predict the probability of Worksport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worksport's price. Additionally, you may evaluate how the addition of Worksport to your portfolios can decrease your overall portfolio volatility.