Advantage Inventory vs Retained Earnings Analysis

AAV Stock  CAD 9.37  0.23  2.40%   
Advantage Oil financial indicator trend analysis is way more than just evaluating Advantage Oil Gas prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Advantage Oil Gas is a good investment. Please check the relationship between Advantage Oil Inventory and its Retained Earnings accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Advantage Oil Gas. 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.

Inventory vs Retained Earnings

Inventory vs Retained Earnings Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Advantage Oil Gas Inventory account and Retained Earnings. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Advantage Oil's Inventory and Retained Earnings is 0.91. Overlapping area represents the amount of variation of Inventory that can explain the historical movement of Retained Earnings in the same time period over historical financial statements of Advantage Oil Gas, assuming nothing else is changed. The correlation between historical values of Advantage Oil's Inventory and Retained Earnings is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Inventory of Advantage Oil Gas are associated (or correlated) with its Retained Earnings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Retained Earnings has no effect on the direction of Inventory i.e., Advantage Oil's Inventory and Retained Earnings go up and down completely randomly.

Correlation Coefficient

0.91
Relationship DirectionPositive 
Relationship StrengthVery Strong

Inventory

Retained Earnings

The cumulative amount of net income that a company retains for reinvestment in its operations, rather than distributing it to shareholders as dividends.
Most indicators from Advantage Oil's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Advantage Oil Gas 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Advantage Oil Gas. 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, Advantage Oil's Enterprise Value Over EBITDA is very stable compared to the past year. As of the 23rd of November 2024, Enterprise Value Multiple is likely to grow to 5.83, while Selling General Administrative is likely to drop about 29.6 M.
 2021 2022 2023 2024 (projected)
Interest Expense20.1M19.8M30.6M42.3M
Depreciation And Amortization107.9M135.3M150.3M96.9M

Advantage Oil fundamental ratios Correlations

0.10.740.730.59-0.08-0.520.770.730.550.230.720.75-0.470.20.70.240.85-0.020.75-0.180.70.610.77-0.52-0.43
0.1-0.16-0.06-0.220.240.65-0.1-0.160.280.09-0.09-0.15-0.040.6-0.240.180.170.07-0.080.42-0.130.14-0.040.210.17
0.74-0.160.980.06-0.7-0.830.860.97-0.140.250.980.98-0.84-0.380.920.260.9-0.440.98-0.130.980.80.96-0.93-0.87
0.73-0.060.980.01-0.71-0.770.860.96-0.150.210.980.97-0.88-0.360.890.220.92-0.410.98-0.10.970.850.98-0.92-0.85
0.59-0.220.060.010.47-0.230.290.120.760.170.040.120.230.310.21-0.150.140.410.09-0.480.06-0.060.070.130.26
-0.080.24-0.7-0.710.470.68-0.58-0.730.76-0.08-0.74-0.710.840.73-0.70.03-0.50.51-0.720.1-0.76-0.6-0.650.870.78
-0.520.65-0.83-0.77-0.230.68-0.77-0.850.23-0.16-0.81-0.850.640.59-0.88-0.02-0.60.28-0.80.43-0.83-0.51-0.750.830.7
0.77-0.10.860.860.29-0.58-0.770.930.060.20.90.92-0.86-0.170.910.150.890.00.91-0.370.890.680.88-0.83-0.58
0.73-0.160.970.960.12-0.73-0.850.93-0.140.250.991.0-0.88-0.380.970.150.9-0.340.98-0.250.990.760.95-0.95-0.81
0.550.28-0.14-0.150.760.760.230.06-0.140.06-0.16-0.120.340.79-0.130.220.140.55-0.13-0.09-0.19-0.17-0.050.370.42
0.230.090.250.210.17-0.08-0.160.20.250.060.220.24-0.14-0.080.3-0.050.2-0.190.22-0.30.250.090.2-0.24-0.2
0.72-0.090.980.980.04-0.74-0.810.90.99-0.160.220.99-0.89-0.370.920.20.91-0.390.98-0.130.990.790.97-0.95-0.86
0.75-0.150.980.970.12-0.71-0.850.921.0-0.120.240.99-0.87-0.360.970.180.91-0.350.99-0.230.990.760.96-0.94-0.82
-0.47-0.04-0.84-0.880.230.840.64-0.86-0.880.34-0.14-0.89-0.870.35-0.81-0.25-0.830.24-0.870.11-0.88-0.73-0.860.910.73
0.20.6-0.38-0.360.310.730.59-0.17-0.380.79-0.08-0.37-0.360.35-0.390.30.020.64-0.350.09-0.42-0.24-0.290.510.57
0.7-0.240.920.890.21-0.7-0.880.910.97-0.130.30.920.97-0.81-0.390.070.83-0.30.94-0.410.960.680.88-0.91-0.71
0.240.180.260.22-0.150.03-0.020.150.150.22-0.050.20.18-0.250.30.070.35-0.060.130.340.160.030.25-0.17-0.24
0.850.170.90.920.14-0.5-0.60.890.90.140.20.910.91-0.830.020.830.35-0.140.92-0.120.880.790.93-0.81-0.67
-0.020.07-0.44-0.410.410.510.280.0-0.340.55-0.19-0.39-0.350.240.64-0.3-0.06-0.14-0.36-0.36-0.43-0.36-0.320.420.7
0.75-0.080.980.980.09-0.72-0.80.910.98-0.130.220.980.99-0.87-0.350.940.130.92-0.36-0.180.980.860.96-0.93-0.82
-0.180.42-0.13-0.1-0.480.10.43-0.37-0.25-0.09-0.3-0.13-0.230.110.09-0.410.34-0.12-0.36-0.18-0.20.07-0.110.17-0.16
0.7-0.130.980.970.06-0.76-0.830.890.99-0.190.250.990.99-0.88-0.420.960.160.88-0.430.98-0.20.770.95-0.95-0.84
0.610.140.80.85-0.06-0.6-0.510.680.76-0.170.090.790.76-0.73-0.240.680.030.79-0.360.860.070.770.78-0.72-0.69
0.77-0.040.960.980.07-0.65-0.750.880.95-0.050.20.970.96-0.86-0.290.880.250.93-0.320.96-0.110.950.78-0.9-0.82
-0.520.21-0.93-0.920.130.870.83-0.83-0.950.37-0.24-0.95-0.940.910.51-0.91-0.17-0.810.42-0.930.17-0.95-0.72-0.90.89
-0.430.17-0.87-0.850.260.780.7-0.58-0.810.42-0.2-0.86-0.820.730.57-0.71-0.24-0.670.7-0.82-0.16-0.84-0.69-0.820.89
Click cells to compare fundamentals

Advantage Oil Account Relationship Matchups

Advantage Oil fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets1.8B1.5B2.0B2.2B2.3B1.4B
Short Long Term Debt Total298.2M249.4M169.2M194.6M354.0M268.3M
Other Current Liab64.4M56.8M95.4M107.8M20.5M19.5M
Total Current Liabilities64.6M57.0M95.4M107.8M96.4M91.6M
Total Stockholder Equity1.3B1.0B1.5B1.6B1.6B992.2M
Property Plant And Equipment Net1.8B1.5B1.9B1.9B2.1B1.2B
Net Debt285.1M246.1M142.1M144.0M334.7M243.2M
Retained Earnings(1.2B)(1.4B)(1.0B)(684.6M)(583.0M)(612.1M)
Cash13.1M3.3M25.2M48.9M19.3M32.1M
Non Current Assets Total1.8B1.5B1.9B2.0B2.2B1.4B
Non Currrent Assets Other1.8B4.1M57.7M94.0M4.0M3.8M
Cash And Short Term Investments13.1M3.3M25.2M48.9M19.3M32.5M
Net Receivables29.3M28.5M54.8M92.8M53.4M50.7M
Common Stock Shares Outstanding190.9M186.7M187.8M198.6M171.8M104.5M
Liabilities And Stockholders Equity1.8B1.5B2.0B2.2B2.3B1.4B
Non Current Liabilities Total437.7M436.5M439.5M544.5M646.2M434.3M
Other Stockholder Equity117.1M114.3M110.3M142.8M187.0M362.7M
Total Liab502.4M493.5M534.9M652.3M742.6M609.4M
Property Plant And Equipment Gross1.8B1.5B3.0B3.2B3.5B3.7B
Total Current Assets45.9M40.7M83.8M178.7M120.5M114.4M
Short Term Debt266K256K4.1M4.7M5.3M5.1M
Other Current Assets3.5M8.9M3.8M37.0M47.8M38.5M
Accounts Payable51.9M38.1M76.6M78.3M70.6M67.1M
Common Stock Total Equity2.3B2.3B2.3B2.4B2.7B2.4B
Common Stock2.3B2.4B2.4B2.1B2.0B2.4B
Other Liab139.8M187.4M180.5M259.4M298.3M151.4M
Net Tangible Assets1.3B1.0B1.5B1.6B1.8B1.4B
Other Assets0.028.9M57.7M94.0M108.1M113.5M
Long Term Debt295.6M247.1M167.3M192.9M259.1M185.1M
Property Plant Equipment1.8B1.5B1.9B1.9B2.2B1.8B
Long Term Debt Total297.9M249.1M169.2M194.6M223.8M242.6M

Pair Trading with Advantage Oil

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 Advantage Oil 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 Advantage Oil will appreciate offsetting losses from the drop in the long position's value.

Moving against Advantage Stock

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  0.4FFH Fairfax FinancialPairCorr
  0.38ENB-PFV Enbridge Pref 5PairCorr
  0.35FFH-PC Fairfax Fin HldPairCorr
  0.32ENS-PA E Split CorpPairCorr
The ability to find closely correlated positions to Advantage Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Advantage Oil 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 Advantage Oil - 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 Advantage Oil Gas to buy it.
The correlation of Advantage Oil 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 Advantage Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Advantage Oil Gas 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 Advantage Oil 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 Advantage Stock

Balance Sheet is a snapshot of the financial position of Advantage Oil Gas at a specified time, usually calculated after every quarter, six months, or one year. Advantage Oil Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Advantage Oil 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 Advantage currently owns. An asset can also be divided into two categories, current and non-current.