Foremost Net Income vs Income Tax Expense Analysis

The correlation between Foremost Lithium's Net Income and Income Tax Expense is -0.03. Overlapping area represents the amount of variation of Net Income that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Foremost Lithium Resource, assuming nothing else is changed. The correlation between historical values of Foremost Lithium's Net Income 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 Net Income of Foremost Lithium Resource 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 Net Income i.e., Foremost Lithium's Net Income and Income Tax Expense go up and down completely randomly.