Erdene Price To Sales Ratio vs Invested Capital Analysis
| ERD Stock | CAD 0.59 0.01 1.67% |
Erdene Resource financial indicator trend analysis is much more than just examining Erdene Resource Deve latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Erdene Resource Deve is a good investment. Please check the relationship between Erdene Resource Price To Sales Ratio and its Invested Capital accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erdene Resource Development. 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.
Price To Sales Ratio vs Invested Capital
Price To Sales Ratio vs Invested Capital Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Erdene Resource Deve Price To Sales Ratio account and Invested Capital. At this time, the significance of the direction appears to have weak contrarian relationship.
The correlation between Erdene Resource's Price To Sales Ratio and Invested Capital is -0.17. Overlapping area represents the amount of variation of Price To Sales Ratio that can explain the historical movement of Invested Capital in the same time period over historical financial statements of Erdene Resource Development, assuming nothing else is changed. The correlation between historical values of Erdene Resource's Price To Sales Ratio and Invested Capital is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Price To Sales Ratio of Erdene Resource Development are associated (or correlated) with its Invested Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Invested Capital has no effect on the direction of Price To Sales Ratio i.e., Erdene Resource's Price To Sales Ratio and Invested Capital go up and down completely randomly.
Correlation Coefficient | -0.17 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
Price To Sales Ratio
Price to Sales Ratio is figured by comparing Erdene Resource Deve stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Erdene Resource sales, a figure that is much harder to manipulate than other Erdene Resource Development multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company's stock price to its revenues, calculated by dividing the company's market cap by its total sales or revenue over a 12-month period.Invested Capital
Invested capital represents the total cash investment that shareholders and debt holders have contributed to Erdene Resource Development. There are two different methods for calculating Erdene Resource Deve invested capital: operating approach and financing approach. Understanding Erdene Resource invested capital allows investors to calculate measures of performance such as return on invested capital or return on capital employed.Most indicators from Erdene Resource's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Erdene Resource Deve 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Erdene Resource Development. 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. As of the 28th of November 2024, Enterprise Value is likely to grow to about 74.1 M, while Selling General Administrative is likely to drop about 2.2 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Cost Of Revenue | 37.4K | 38.1K | 37.0K | 35.1K | Depreciation And Amortization | 82.5K | 136.6K | 37.0K | 35.1K |
Erdene Resource fundamental ratios Correlations
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Erdene Resource Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Erdene Resource fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 27.0M | 42.8M | 46.5M | 52.5M | 59.1M | 30.0M | |
| Total Stockholder Equity | 20.0M | 42.1M | 45.7M | 51.6M | 58.9M | 61.8M | |
| Retained Earnings | (104.4M) | (117.5M) | (123.0M) | (129.0M) | (128.5M) | (122.1M) | |
| Common Stock Shares Outstanding | 178.5M | 216.5M | 276.1M | 306.2M | 346.0M | 363.3M | |
| Liabilities And Stockholders Equity | 27.0M | 42.8M | 46.5M | 52.5M | 59.1M | 30.0M | |
| Total Liab | 7.0M | 695.9K | 812.3K | 909.0K | 186.2K | 176.8K | |
| Common Stock | 109.5M | 136.6M | 145.2M | 157.9M | 158.1M | 91.1M | |
| Total Current Liabilities | 617.7K | 610.2K | 726.0K | 886.1K | 186.2K | 176.8K | |
| Property Plant And Equipment Net | 21.7M | 29.7M | 38.4M | 43.7M | 2.0M | 1.9M | |
| Net Debt | 1.3M | (12.7M) | (6.9M) | (7.3M) | (4.3M) | (4.5M) | |
| Cash | 5.1M | 12.8M | 7.1M | 7.4M | 4.3M | 4.2M | |
| Non Current Assets Total | 21.7M | 29.7M | 38.4M | 43.7M | 53.3M | 55.9M | |
| Non Currrent Assets Other | (21.58) | (24.69) | (49.22) | (126.4) | 2.0M | 2.1M | |
| Cash And Short Term Investments | 5.1M | 12.8M | 7.1M | 7.4M | 4.3M | 4.3M | |
| Net Receivables | 70.4K | 89.3K | 23.8K | 76.6K | 6.7K | 6.4K | |
| Other Current Assets | 69.0K | 212.5K | 1.0M | 1.4M | 1.5M | 1.5M | |
| Other Stockholder Equity | 16.8M | 25.9M | 26.6M | 28.7M | 30.1M | 20.0M | |
| Property Plant And Equipment Gross | 21.7M | 29.7M | 38.7M | 43.9M | 2.1M | 2.0M | |
| Total Current Assets | 5.2M | 13.1M | 8.1M | 8.9M | 5.8M | 4.7M | |
| Accounts Payable | 592.0K | 582.4K | 660.5K | 826.4K | 163.2K | 155.1K | |
| Accumulated Other Comprehensive Income | (2.0M) | (3.0M) | (3.0M) | (6.0M) | (849.6K) | (892.1K) | |
| Short Term Debt | 25.7K | 27.9K | 65.6K | 59.7K | 22.9K | 21.8K | |
| Intangible Assets | 21.58 | 24.69 | 49.22 | 126.4 | 18.5K | 17.5K | |
| Net Tangible Assets | 20.0M | 42.1M | 45.7M | 51.5M | 59.2M | 62.2M | |
| Property Plant Equipment | 21.7M | 29.7M | 38.4M | 43.5M | 50.1M | 52.6M | |
| Capital Surpluse | 16.1M | 16.8M | 25.9M | 26.6M | 30.6M | 19.4M | |
| Net Invested Capital | 26.2M | 42.1M | 45.7M | 51.6M | 58.9M | 40.4M | |
| Net Working Capital | 4.6M | 12.5M | 7.4M | 8.0M | 5.6M | 6.8M | |
| Capital Stock | 109.5M | 136.6M | 145.2M | 157.9M | 158.1M | 148.7M |
Pair Trading with Erdene Resource
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 Erdene Resource 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 Erdene Resource will appreciate offsetting losses from the drop in the long position's value.Moving together with Erdene Stock
| 0.74 | AG | First Majestic Silver | PairCorr |
| 0.73 | IE | Ivanhoe Energy | PairCorr |
| 0.82 | FDY | Faraday Copper Corp | PairCorr |
Moving against Erdene Stock
The ability to find closely correlated positions to Erdene Resource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Erdene Resource 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 Erdene Resource - 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 Erdene Resource Development to buy it.
The correlation of Erdene Resource 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 Erdene Resource moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Erdene Resource Deve 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 Erdene Resource 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.Other Information on Investing in Erdene Stock
Balance Sheet is a snapshot of the financial position of Erdene Resource Deve at a specified time, usually calculated after every quarter, six months, or one year. Erdene Resource Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Erdene Resource 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 Erdene currently owns. An asset can also be divided into two categories, current and non-current.