Artesian Income Tax Expense vs Total Operating Expenses Analysis

The correlation between Artesian Resources' Income Tax Expense and Total Operating Expenses is -0.26. Overlapping area represents the amount of variation of Income Tax Expense that can explain the historical movement of Total Operating Expenses in the same time period over historical financial statements of Artesian Resources, assuming nothing else is changed. The correlation between historical values of Artesian Resources' Income Tax Expense and Total Operating Expenses 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 Tax Expense of Artesian Resources are associated (or correlated) with its Total Operating Expenses. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Operating Expenses has no effect on the direction of Income Tax Expense i.e., Artesian Resources' Income Tax Expense and Total Operating Expenses go up and down completely randomly.