AVALON Total Other Income Expense Net vs Income Tax Expense Analysis

The correlation between AVALON TECHNOLOGIES's Total Other Income Expense Net and Income Tax Expense is 0.78. Overlapping area represents the amount of variation of Total Other Income Expense Net that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of AVALON TECHNOLOGIES LTD, assuming nothing else is changed. The correlation between historical values of AVALON TECHNOLOGIES's Total Other Income Expense Net and Income Tax Expense 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 Other Income Expense Net of AVALON TECHNOLOGIES LTD are associated (or correlated) with its Income Tax Expense. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Income Tax Expense has no effect on the direction of Total Other Income Expense Net i.e., AVALON TECHNOLOGIES's Total Other Income Expense Net and Income Tax Expense go up and down completely randomly.