Canadian Net Receivables vs Cash And Short Term Investments Analysis

CTC-A Stock

CAD 154.37 1.43 0.94%

Canadian Tire financial indicator trend analysis is way more than just evaluating Canadian Tire prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian Tire is a good investment. Please check the relationship between Canadian Tire Net Receivables and its Cash And Short Term Investments accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Tire. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Net Receivables vs Cash And Short Term Investments

Net Receivables vs Cash And Short Term Investments Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian Tire Net Receivables account and Cash And Short Term Investments. At this time, the significance of the direction appears to have significant contrarian relationship.

The correlation between Canadian Tire's Net Receivables and Cash And Short Term Investments is -0.25. Overlapping area represents the amount of variation of Net Receivables that can explain the historical movement of Cash And Short Term Investments in the same time period over historical financial statements of Canadian Tire, assuming nothing else is changed. The correlation between historical values of Canadian Tire's Net Receivables and Cash And Short Term Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Receivables of Canadian Tire are associated (or correlated) with its Cash And Short Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Cash And Short Term Investments has no effect on the direction of Net Receivables i.e., Canadian Tire's Net Receivables and Cash And Short Term Investments go up and down completely randomly.

Correlation Coefficient

-0.25

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

Net Receivables

Cash And Short Term Investments

Short Term Investments is an account in the current assets section of Canadian Tire balance sheet. This account contains Canadian Tire investments that will expire within one year. These investments include stocks and bonds that can be liquidated by Canadian Tire 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.

Most indicators from Canadian Tire's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian Tire 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 Canadian Tire. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

At this time, Canadian Tire's Tax Provision is comparatively stable compared to the past year. Enterprise Value is likely to gain to about 15.5 B in 2024, whereas Selling General Administrative is likely to drop slightly above 2.2 B in 2024.

	2021	2022	2023	2024 (projected)
Interest Expense	90.3M	87.6M	361.3M	379.4M
Depreciation And Amortization	701.5M	743.5M	802.2M	842.3M

Interest Expense Depreciation And Amortization

Canadian Tire fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Intangible Assets	Good Will	Current Deferred Revenue	Short Term Investments
Total Assets		0.75	0.69	0.96	0.79	0.96	0.69	0.85	0.95	0.38	0.83	0.81	0.42	-0.1	-0.82	0.8	0.82	0.59	-0.55	0.84	0.99	0.66	0.85	0.95	0.78	0.44
Short Long Term Debt Total	0.75		0.33	0.72	0.42	0.82	0.99	0.5	0.75	0.09	0.98	0.83	0.23	0.32	-0.95	0.97	0.94	0.83	-0.55	0.98	0.68	0.9	0.97	0.85	0.94	0.35
Other Current Liab	0.69	0.33		0.75	0.71	0.56	0.24	0.73	0.66	0.56	0.45	0.53	0.57	-0.15	-0.35	0.41	0.45	0.18	-0.51	0.49	0.74	0.23	0.49	0.6	0.45	0.53
Total Current Liabilities	0.96	0.72	0.75		0.8	0.91	0.68	0.86	0.95	0.31	0.79	0.81	0.35	-0.12	-0.75	0.73	0.81	0.53	-0.61	0.8	0.96	0.71	0.82	0.91	0.75	0.38
Total Stockholder Equity	0.79	0.42	0.71	0.8		0.69	0.37	0.99	0.81	0.32	0.55	0.65	0.32	-0.05	-0.45	0.47	0.59	0.42	-0.38	0.56	0.86	0.46	0.52	0.58	0.58	0.25
Property Plant And Equipment Net	0.96	0.82	0.56	0.91	0.69		0.78	0.77	0.92	0.28	0.87	0.73	0.34	0.07	-0.9	0.85	0.86	0.67	-0.41	0.86	0.92	0.7	0.87	0.94	0.86	0.4
Net Debt	0.69	0.99	0.24	0.68	0.37	0.78		0.44	0.71	-0.07	0.95	0.81	0.08	0.38	-0.92	0.93	0.92	0.81	-0.53	0.94	0.62	0.92	0.93	0.8	0.91	0.23
Retained Earnings	0.85	0.5	0.73	0.86	0.99	0.77	0.44		0.86	0.34	0.61	0.68	0.35	-0.05	-0.54	0.54	0.64	0.46	-0.4	0.62	0.91	0.5	0.59	0.67	0.64	0.31
Accounts Payable	0.95	0.75	0.66	0.95	0.81	0.92	0.71	0.86		0.31	0.85	0.82	0.37	-0.07	-0.79	0.79	0.87	0.65	-0.53	0.85	0.95	0.71	0.85	0.89	0.82	0.4
Cash	0.38	0.09	0.56	0.31	0.32	0.28	-0.07	0.34	0.31		0.19	0.18	0.97	-0.37	-0.17	0.25	0.13	0.16	-0.12	0.23	0.43	-0.11	0.24	0.32	0.18	0.74
Non Current Assets Total	0.83	0.98	0.45	0.79	0.55	0.87	0.95	0.61	0.85	0.19		0.87	0.33	0.26	-0.96	0.98	0.97	0.83	-0.54	1.0	0.78	0.86	0.99	0.88	0.97	0.42
Non Currrent Assets Other	0.81	0.83	0.53	0.81	0.65	0.73	0.81	0.68	0.82	0.18	0.87		0.26	-0.02	-0.79	0.84	0.85	0.66	-0.81	0.88	0.81	0.82	0.87	0.81	0.76	0.27
Cash And Short Term Investments	0.42	0.23	0.57	0.35	0.32	0.34	0.08	0.35	0.37	0.97	0.33	0.26		-0.25	-0.28	0.38	0.25	0.27	-0.15	0.36	0.46	0.0	0.37	0.4	0.33	0.88
Net Receivables	-0.1	0.32	-0.15	-0.12	-0.05	0.07	0.38	-0.05	-0.07	-0.37	0.26	-0.02	-0.25		-0.24	0.27	0.24	0.43	0.18	0.24	-0.15	0.25	0.16	-0.07	0.4	-0.13
Common Stock Shares Outstanding	-0.82	-0.95	-0.35	-0.75	-0.45	-0.9	-0.92	-0.54	-0.79	-0.17	-0.96	-0.79	-0.28	-0.24		-0.96	-0.92	-0.79	0.45	-0.95	-0.75	-0.8	-0.94	-0.87	-0.91	-0.35
Non Current Liabilities Total	0.8	0.97	0.41	0.73	0.47	0.85	0.93	0.54	0.79	0.25	0.98	0.84	0.38	0.27	-0.96		0.93	0.84	-0.52	0.98	0.74	0.8	0.98	0.87	0.95	0.46
Inventory	0.82	0.94	0.45	0.81	0.59	0.86	0.92	0.64	0.87	0.13	0.97	0.85	0.25	0.24	-0.92	0.93		0.86	-0.57	0.97	0.78	0.88	0.94	0.84	0.94	0.32
Other Current Assets	0.59	0.83	0.18	0.53	0.42	0.67	0.81	0.46	0.65	0.16	0.83	0.66	0.27	0.43	-0.79	0.84	0.86		-0.43	0.83	0.56	0.73	0.77	0.62	0.82	0.27
Other Stockholder Equity	-0.55	-0.55	-0.51	-0.61	-0.38	-0.41	-0.53	-0.4	-0.53	-0.12	-0.54	-0.81	-0.15	0.18	0.45	-0.52	-0.57	-0.43		-0.58	-0.57	-0.58	-0.6	-0.6	-0.37	-0.14
Total Liab	0.84	0.98	0.49	0.8	0.56	0.86	0.94	0.62	0.85	0.23	1.0	0.88	0.36	0.24	-0.95	0.98	0.97	0.83	-0.58		0.79	0.86	0.99	0.88	0.96	0.44
Total Current Assets	0.99	0.68	0.74	0.96	0.86	0.92	0.62	0.91	0.95	0.43	0.78	0.81	0.46	-0.15	-0.75	0.74	0.78	0.56	-0.57	0.79		0.61	0.79	0.9	0.73	0.44
Short Term Debt	0.66	0.9	0.23	0.71	0.46	0.7	0.92	0.5	0.71	-0.11	0.86	0.82	0.0	0.25	-0.8	0.8	0.88	0.73	-0.58	0.86	0.61		0.84	0.72	0.81	0.1
Intangible Assets	0.85	0.97	0.49	0.82	0.52	0.87	0.93	0.59	0.85	0.24	0.99	0.87	0.37	0.16	-0.94	0.98	0.94	0.77	-0.6	0.99	0.79	0.84		0.93	0.93	0.48
Good Will	0.95	0.85	0.6	0.91	0.58	0.94	0.8	0.67	0.89	0.32	0.88	0.81	0.4	-0.07	-0.87	0.87	0.84	0.62	-0.6	0.88	0.9	0.72	0.93		0.81	0.51
Current Deferred Revenue	0.78	0.94	0.45	0.75	0.58	0.86	0.91	0.64	0.82	0.18	0.97	0.76	0.33	0.4	-0.91	0.95	0.94	0.82	-0.37	0.96	0.73	0.81	0.93	0.81		0.43
Short Term Investments	0.44	0.35	0.53	0.38	0.25	0.4	0.23	0.31	0.4	0.74	0.42	0.27	0.88	-0.13	-0.35	0.46	0.32	0.27	-0.14	0.44	0.44	0.1	0.48	0.51	0.43

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Canadian Tire Account Relationship Matchups

Canadian Tire fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	19.5B	20.4B	21.8B	22.1B	22.0B	11.3B
Short Long Term Debt Total	7.8B	7.2B	7.1B	7.7B	8.8B	9.3B
Other Current Liab	1.2B	1.7B	2.4B	1.7B	1.4B	881.4M
Total Current Liabilities	5.8B	5.2B	6.8B	7.1B	6.4B	3.4B
Total Stockholder Equity	4.2B	4.5B	5.1B	5.6B	5.5B	3.7B
Property Plant And Equipment Net	5.9B	6.0B	6.3B	6.9B	7.2B	3.8B
Net Debt	7.6B	5.9B	5.4B	7.4B	8.5B	9.0B
Retained Earnings	3.7B	4.1B	4.7B	5.1B	5.1B	3.1B
Accounts Payable	2.1B	2.0B	2.4B	2.7B	2.2B	1.6B
Cash	187.3M	1.3B	1.7B	313.8M	311.2M	295.6M
Non Current Assets Total	10.0B	9.8B	10.2B	10.6B	10.7B	11.2B
Non Currrent Assets Other	1.2B	1.0B	1.1B	1.1B	1.1B	1.1B
Cash And Short Term Investments	389M	1.9B	2.3B	490.1M	488.4M	778.0M
Net Receivables	766.4M	714.4M	715.7M	884.6M	7.8B	8.2B
Common Stock Shares Outstanding	61.9M	61.1M	61.3M	59.3M	56.5M	61.6M
Liabilities And Stockholders Equity	19.5B	20.4B	21.8B	22.1B	22.0B	11.3B
Non Current Liabilities Total	8.3B	9.3B	8.5B	7.9B	9.1B	9.6B
Inventory	2.2B	2.3B	2.5B	3.2B	2.7B	2.8B
Other Current Assets	168.1M	342.6M	326.3M	405.7M	512.1M	537.7M
Total Liab	14.0B	14.5B	15.3B	15.1B	15.5B	16.3B
Total Current Assets	9.6B	10.5B	11.6B	11.5B	11.3B	6.0B
Accumulated Other Comprehensive Income	(129.9M)	(237.7M)	(169.2M)	(42.4M)	(181.8M)	(172.7M)
Short Term Debt	2.2B	1.2B	1.6B	2.5B	2.4B	2.5B
Intangible Assets	1.5B	1.5B	1.5B	1.5B	1.4B	1.5B
Good Will	891.1M	889.5M	876.8M	863.2M	844.8M	447.0M
Current Deferred Revenue	222.8M	246.8M	291.2M	316.4M	342.4M	359.5M
Short Term Investments	201.7M	643M	606.2M	176.3M	177.2M	259.7M
Common Stock	588M	597M	593.6M	587.8M	598.7M	503.9M
Other Liab	1.0B	1.0B	1.0B	932.8M	1.1B	1.0B
Net Tangible Assets	1.8B	2.1B	2.8B	3.3B	2.9B	2.4B
Other Assets	1.5B	1.3B	1.3B	1.2B	1.4B	1.2B
Long Term Debt	3.7B	4.1B	3.6B	3.2B	4.4B	3.2B
Long Term Investments	138.9M	146.2M	175.1M	62.6M	108.2M	115.5M
Short Long Term Debt	1.9B	822.5M	1.3B	2.1B	2.0B	1.3B
Property Plant Equipment	5.9B	6.0B	6.3B	6.9B	8.0B	5.4B
Non Current Liabilities Other	2.3B	2.9B	2.6B	2.3B	2.3B	2.6B
Net Invested Capital	9.8B	9.4B	9.9B	10.9B	12.0B	11.2B
Net Working Capital	3.8B	5.3B	4.9B	4.4B	4.9B	5.0B
Capital Stock	588M	597M	593.6M	587.8M	598.7M	652.0M

Pair Trading with Canadian Tire

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 Canadian Tire 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 Canadian Tire will appreciate offsetting losses from the drop in the long position's value.

Moving against Canadian Stock

0.52	ONEX	Onex Corp	Pair Corr
0.49	SU	Suncor Energy	Pair Corr
0.47	X	TMX Group Limited	Pair Corr
0.41	ENB	Enbridge	Pair Corr

The ability to find closely correlated positions to Canadian Tire could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Tire 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 Canadian Tire - 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 Canadian Tire to buy it.

The correlation of Canadian Tire 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 Canadian Tire moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Tire 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 Canadian Tire 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 Correlation Correlation Matching

Additional Tools for Canadian Stock Analysis

When running Canadian Tire's price analysis, check to measure Canadian Tire'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 Canadian Tire is operating at the current time. Most of Canadian Tire's value examination focuses on studying past and present price action to predict the probability of Canadian Tire's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Tire's price. Additionally, you may evaluate how the addition of Canadian Tire to your portfolios can decrease your overall portfolio volatility.

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