SIR Total Current Liabilities vs Asset Turnover Analysis
| SRV-UN Stock | CAD 12.54 0.09 0.72% |
SIR Royalty financial indicator trend analysis is much more than just breaking down SIR Royalty Income prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether SIR Royalty Income is a good investment. Please check the relationship between SIR Royalty Total Current Liabilities and its Asset Turnover accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SIR Royalty Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.
Total Current Liabilities vs Asset Turnover
Total Current Liabilities vs Asset Turnover Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of SIR Royalty Income Total Current Liabilities account and Asset Turnover. At this time, the significance of the direction appears to have very week relationship.
The correlation between SIR Royalty's Total Current Liabilities and Asset Turnover is 0.25. Overlapping area represents the amount of variation of Total Current Liabilities that can explain the historical movement of Asset Turnover in the same time period over historical financial statements of SIR Royalty Income, assuming nothing else is changed. The correlation between historical values of SIR Royalty's Total Current Liabilities and Asset Turnover 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 Current Liabilities of SIR Royalty Income are associated (or correlated) with its Asset Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Asset Turnover has no effect on the direction of Total Current Liabilities i.e., SIR Royalty's Total Current Liabilities and Asset Turnover go up and down completely randomly.
Correlation Coefficient | 0.25 |
| Relationship Direction | Positive |
| Relationship Strength | Very Weak |
Total Current Liabilities
Total Current Liabilities is an item on SIR Royalty balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of SIR Royalty Income are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.Asset Turnover
The ratio of net sales to average total assets, indicating how efficiently a company uses its assets to generate sales.Most indicators from SIR Royalty's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into SIR Royalty Income 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 World Market Map to better understand how to build diversified portfolios, which includes a position in SIR Royalty Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment. At present, SIR Royalty's Sales General And Administrative To Revenue is projected to slightly decrease based on the last few years of reporting. The current year's Enterprise Value is expected to grow to about 142.1 M, whereas Selling General Administrative is forecasted to decline to about 491.2 K.
| 2023 | 2024 (projected) | Research Development | 0.77 | 0.69 | Interest Income | 16.4M | 17.2M |
SIR Royalty fundamental ratios Correlations
Click cells to compare fundamentals
SIR Royalty Account Relationship Matchups
High Positive Relationship
High Negative Relationship
SIR Royalty fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Assets | 94.3M | 48.5M | 49.5M | 83.2M | 91.0M | 77.4M | |
| Other Current Liab | 3.4M | (111.9K) | (1.2M) | (2.2M) | 3.2M | 3.4M | |
| Total Current Liabilities | 3.5M | 111.9K | 131.5K | 190.2K | 3.4M | 3.5M | |
| Total Stockholder Equity | 88.9M | 42.7M | 42.6M | 76.3M | 85.5M | 71.4M | |
| Net Debt | (101.9K) | (92.3K) | (1.4M) | (2.2M) | (412.2K) | (432.8K) | |
| Accounts Payable | 121.9K | 111.9K | 131.5K | 190.2K | 152.4K | 144.2K | |
| Cash | 136.9K | 138.6K | 1.4M | 2.3M | 412.2K | 603.9K | |
| Non Currrent Assets Other | (55.3M) | (48.5M) | (49.5M) | (83.2M) | 36M | 37.8M | |
| Cash And Short Term Investments | 136.9K | 138.6K | 1.4M | 2.3M | 412.2K | 603.9K | |
| Net Receivables | 3.7M | 3.1M | 26.2M | 29.9M | 3.1M | 2.9M | |
| Liabilities And Stockholders Equity | 94.3M | 48.5M | 49.5M | 83.2M | 91.0M | 77.4M | |
| Other Current Assets | 461.2K | 1.6M | 1.5M | 313.5K | 468.2K | 491.6K | |
| Other Stockholder Equity | 7.3M | (42.7M) | (42.6M) | (76.3M) | 10.7M | 11.2M | |
| Total Liab | 5.4M | 111.9K | 131.5K | 6.9M | 5.5M | 4.0M | |
| Total Current Assets | 4.3M | 26.5M | 27.6M | 32.2M | 4.0M | 7.0M | |
| Retained Earnings | (7.3M) | (53.5M) | (53.6M) | (19.9M) | (10.7M) | (11.2M) | |
| Non Current Liabilities Total | 1.9M | 5.8M | 6.9M | 190.2K | 2.1M | 2.5M | |
| Other Liab | 1.9M | 1.9M | 2.0M | 2.0M | 2.3M | 2.0M | |
| Net Tangible Assets | 86.5M | 88.9M | 42.7M | 42.6M | 38.3M | 59.5M | |
| Other Assets | 39M | 108.1K | 42.3K | 63.5K | 57.1K | 54.3K | |
| Short Long Term Debt Total | 35.0K | 46.4K | 42.3K | 63.5K | 42.5K | 44.9K |
Pair Trading with SIR Royalty
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 SIR Royalty 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 SIR Royalty will appreciate offsetting losses from the drop in the long position's value.Moving against SIR Stock
The ability to find closely correlated positions to SIR Royalty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SIR Royalty 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 SIR Royalty - 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 SIR Royalty Income to buy it.
The correlation of SIR Royalty 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 SIR Royalty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SIR Royalty Income 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 SIR Royalty 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 SIR Stock
Balance Sheet is a snapshot of the financial position of SIR Royalty Income at a specified time, usually calculated after every quarter, six months, or one year. SIR Royalty Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of SIR Royalty 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 SIR currently owns. An asset can also be divided into two categories, current and non-current.