Phenixfin Property Plant And Equipment Net vs Common Stock Total Equity Analysis

The correlation between Phenixfin's Property Plant And Equipment Net and Common Stock Total Equity is 0.36. Overlapping area represents the amount of variation of Property Plant And Equipment Net that can explain the historical movement of Common Stock Total Equity in the same time period over historical financial statements of Phenixfin, assuming nothing else is changed. The correlation between historical values of Phenixfin's Property Plant And Equipment Net and Common Stock Total Equity is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Property Plant And Equipment Net of Phenixfin are associated (or correlated) with its Common Stock Total Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock Total Equity has no effect on the direction of Property Plant And Equipment Net i.e., Phenixfin's Property Plant And Equipment Net and Common Stock Total Equity go up and down completely randomly.