ESP Stock | | | USD 28.94 0.71 2.39% |
Espey Mfg financial indicator trend analysis is much more than just examining Espey Mfg Electronics latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Espey Mfg Electronics is a good investment. Please check the relationship between Espey Mfg Total Revenue and its Interest Income accounts. Check out
Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Espey Mfg Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in state.
Total Revenue vs Interest Income
Total Revenue vs Interest Income Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Espey Mfg Electronics Total Revenue account and
Interest Income. At this time, the significance of the direction appears to have very week relationship.
The correlation between Espey Mfg's Total Revenue and Interest Income is 0.26. Overlapping area represents the amount of variation of Total Revenue that can explain the historical movement of Interest Income in the same time period over historical financial statements of Espey Mfg Electronics, assuming nothing else is changed. The correlation between historical values of Espey Mfg's Total Revenue and Interest Income 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 Revenue of Espey Mfg Electronics are associated (or correlated) with its Interest Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Interest Income has no effect on the direction of Total Revenue i.e., Espey Mfg's Total Revenue and Interest Income go up and down completely randomly.
Correlation Coefficient | 0.26 |
Relationship Direction | Positive |
Relationship Strength | Very Weak |
Total Revenue
Total revenue comprises all receipts Espey Mfg Electronics generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.
Interest Income
Income earned from the investment of cash or from lending money to others, including interest from bank accounts, bonds, or other interest-bearing investments.
Most indicators from Espey Mfg's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Espey Mfg Electronics 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 Espey Mfg Electronics. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in state.
At this time, Espey Mfg's
Tax Provision is relatively stable compared to the past year. As of 11/22/2024,
Enterprise Value Over EBITDA is likely to grow to 11.30, while
Selling General Administrative is likely to drop slightly above 3.1
M.
| 2021 | 2022 | 2023 | 2024 (projected) |
Gross Profit | 5.5M | 8.1M | 10.7M | 5.6M | Total Revenue | 32.1M | 35.6M | 38.7M | 24.8M |
Espey Mfg fundamental ratios Correlations
Click cells to compare fundamentals
Espey Mfg Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Espey Mfg fundamental ratios Accounts
Pair Trading with Espey Mfg
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 Espey Mfg 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 Espey Mfg will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Espey Mfg could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Espey Mfg 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 Espey Mfg - 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 Espey Mfg Electronics to buy it.
The correlation of Espey Mfg 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 Espey Mfg moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Espey Mfg Electronics 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 Espey Mfg 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 MatchingAdditional Tools for Espey Stock Analysis
When running Espey Mfg's price analysis, check to
measure Espey Mfg'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 Espey Mfg is operating at the current time. Most of Espey Mfg's value examination focuses on studying past and present price action to
predict the probability of Espey Mfg's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Espey Mfg's price. Additionally, you may evaluate how the addition of Espey Mfg to your portfolios can decrease your overall portfolio volatility.