Tenaz Net Receivables vs Non Current Assets Total Analysis

TNZ Stock   13.76  0.10  0.73%   
Tenaz Energy financial indicator trend analysis is much more than just breaking down Tenaz Energy Corp prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Tenaz Energy Corp is a good investment. Please check the relationship between Tenaz Energy Net Receivables and its Non Current Assets Total accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Tenaz Energy Corp. 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.

Net Receivables vs Non Current Assets Total

Net Receivables vs Non Current Assets Total Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Tenaz Energy Corp Net Receivables account and Non Current Assets Total. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Tenaz Energy's Net Receivables and Non Current Assets Total is 0.95. Overlapping area represents the amount of variation of Net Receivables that can explain the historical movement of Non Current Assets Total in the same time period over historical financial statements of Tenaz Energy Corp, assuming nothing else is changed. The correlation between historical values of Tenaz Energy's Net Receivables and Non Current Assets Total 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 Receivables of Tenaz Energy Corp are associated (or correlated) with its Non Current Assets Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Non Current Assets Total has no effect on the direction of Net Receivables i.e., Tenaz Energy's Net Receivables and Non Current Assets Total go up and down completely randomly.

Correlation Coefficient

0.95
Relationship DirectionPositive 
Relationship StrengthVery Strong

Net Receivables

Non Current Assets Total

The total value of a company's long-term assets, which are not expected to be converted into cash or used up within one year or the operating cycle, including property, plant, and equipment, and intangible assets.
Most indicators from Tenaz Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Tenaz Energy Corp 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 Tenaz Energy Corp. 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.
At this time, Tenaz Energy's Selling General Administrative is very stable compared to the past year. As of the 11th of December 2024, Enterprise Value Over EBITDA is likely to grow to 4.25, though Tax Provision is likely to grow to (5.3 M).
 2021 2022 2023 2024 (projected)
Gross Profit11.1M21.7M40.0M42.0M
Total Revenue17.8M34.1M64.9M68.1M

Tenaz Energy fundamental ratios Correlations

0.950.94-0.570.660.980.760.760.970.990.660.980.970.820.980.990.810.960.980.660.210.97-0.50.720.77-0.29
0.950.82-0.330.540.960.580.570.920.970.620.980.930.660.930.940.710.980.950.70.460.96-0.380.660.77-0.32
0.940.82-0.650.580.910.810.80.960.880.590.850.890.80.940.940.840.850.860.680.050.84-0.660.850.75-0.15
-0.57-0.33-0.65-0.7-0.55-0.96-0.96-0.47-0.5-0.51-0.49-0.65-0.89-0.46-0.49-0.51-0.35-0.57-0.250.55-0.490.24-0.35-0.36-0.19
0.660.540.58-0.70.650.730.730.490.630.470.670.690.80.580.620.430.540.730.13-0.270.66-0.060.120.2-0.21
0.980.960.91-0.550.650.750.750.940.980.70.970.970.80.950.960.80.950.960.730.240.95-0.40.70.79-0.17
0.760.580.81-0.960.730.751.00.680.710.620.70.830.940.660.690.640.590.750.44-0.320.69-0.350.520.540.09
0.760.570.8-0.960.730.751.00.670.710.620.70.830.940.660.690.630.580.750.43-0.320.69-0.330.510.530.1
0.970.920.96-0.470.490.940.680.670.940.590.920.90.730.990.980.850.940.910.690.250.91-0.650.840.82-0.31
0.990.970.88-0.50.630.980.710.710.940.670.990.960.80.960.970.820.960.980.660.260.99-0.420.670.8-0.32
0.660.620.59-0.510.470.70.620.620.590.670.670.680.670.610.630.610.580.680.430.030.670.040.380.58-0.1
0.980.980.85-0.490.670.970.70.70.920.990.670.970.790.940.960.750.970.990.610.290.99-0.380.620.74-0.34
0.970.930.89-0.650.690.970.830.830.90.960.680.970.850.90.930.730.920.970.670.190.95-0.380.660.74-0.15
0.820.660.8-0.890.80.80.940.940.730.80.670.790.850.750.780.720.670.850.38-0.320.8-0.310.460.58-0.12
0.980.930.94-0.460.580.950.660.660.990.960.610.940.90.751.00.850.950.930.640.240.94-0.590.770.78-0.37
0.990.940.94-0.490.620.960.690.690.980.970.630.960.930.781.00.840.950.960.630.220.96-0.560.750.77-0.37
0.810.710.84-0.510.430.80.640.630.850.820.610.750.730.720.850.840.70.760.56-0.080.75-0.550.730.81-0.28
0.960.980.85-0.350.540.950.590.580.940.960.580.970.920.670.950.950.70.940.690.440.95-0.450.70.76-0.32
0.980.950.86-0.570.730.960.750.750.910.980.680.990.970.850.930.960.760.940.550.190.99-0.370.580.72-0.35
0.660.70.68-0.250.130.730.440.430.690.660.430.610.670.380.640.630.560.690.550.40.57-0.340.790.80.33
0.210.460.050.55-0.270.24-0.32-0.320.250.260.030.290.19-0.320.240.22-0.080.440.190.40.27-0.070.230.24-0.19
0.970.960.84-0.490.660.950.690.690.910.990.670.990.950.80.940.960.750.950.990.570.27-0.380.60.74-0.4
-0.5-0.38-0.660.24-0.06-0.4-0.35-0.33-0.65-0.420.04-0.38-0.38-0.31-0.59-0.56-0.55-0.45-0.37-0.34-0.07-0.38-0.75-0.480.24
0.720.660.85-0.350.120.70.520.510.840.670.380.620.660.460.770.750.730.70.580.790.230.6-0.750.82-0.02
0.770.770.75-0.360.20.790.540.530.820.80.580.740.740.580.780.770.810.760.720.80.240.74-0.480.82-0.08
-0.29-0.32-0.15-0.19-0.21-0.170.090.1-0.31-0.32-0.1-0.34-0.15-0.12-0.37-0.37-0.28-0.32-0.350.33-0.19-0.40.24-0.02-0.08
Click cells to compare fundamentals

Tenaz Energy Account Relationship Matchups

Tenaz Energy fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets55.1M34.4M75.4M203.9M238.7M250.7M
Total Current Liabilities3.2M5.6M7.4M58.7M44.0M46.2M
Total Stockholder Equity44.9M22.9M65.3M71.4M96.4M101.2M
Net Debt100K4.4M(25.3M)19.8M(50.1M)(47.6M)
Retained Earnings250K(22.1M)(10.1M)(4.5M)21.1M22.2M
Accounts Payable2.3M1.2M6.8M14.4M15.7M16.5M
Common Stock Shares Outstanding11.5M11.4M14.9M28.9M29.1M30.5M
Liabilities And Stockholders Equity55.1M34.4M75.4M203.9M238.7M250.7M
Other Current Assets149K221K252K1.1M1.2M1.3M
Other Stockholder Equity4.4M7.2M7.7M8.9M14.1M14.8M
Total Liab10.2M11.5M10.1M132.5M142.4M149.5M
Total Current Assets2.1M1.3M27.5M72.3M92.5M97.1M
Other Current Liab447K1.6M7.4M520K28.3M29.7M
Property Plant And Equipment Net52.9M33.1M47.9M119.0M124.9M131.1M
Non Current Assets Total52.9M33.1M47.9M131.6M146.2M153.5M
Net Receivables1.8M1.1M1.8M10.3M8.0M8.4M
Non Current Liabilities Total7.0M5.9M2.7M73.8M98.4M103.3M
Short Long Term Debt Total242K4.2M167K21.6M244K231.8K
Short Term Debt48K4.0M61K21.5M24.8M26.0M
Accumulated Other Comprehensive Income2.2M2.5M0.03.2M254K241.3K
Long Term Debt Total194K156K106K59K67.9K80.9K
Capital Surpluse4.4M7.2M7.7M8.9M10.2M6.1M
Property Plant Equipment52.9M33.1M47.9M119.0M136.8M143.7M

Pair Trading with Tenaz Energy

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 Tenaz Energy 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 Tenaz Energy will appreciate offsetting losses from the drop in the long position's value.

Moving together with Tenaz Stock

  0.76ENB-PFV Enbridge Pref 5PairCorr
  0.85ENS E Split CorpPairCorr
  0.91ENS-PA E Split CorpPairCorr

Moving against Tenaz Stock

  0.88ARA Aclara ResourcesPairCorr
  0.85RCI-A Rogers CommunicationsPairCorr
  0.58CCL-A CCL IndustriesPairCorr
  0.46SAGE Sage Potash CorpPairCorr
The ability to find closely correlated positions to Tenaz Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tenaz Energy 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 Tenaz Energy - 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 Tenaz Energy Corp to buy it.
The correlation of Tenaz Energy 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 Tenaz Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tenaz Energy Corp 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 Tenaz Energy 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 Matching

Other Information on Investing in Tenaz Stock

Balance Sheet is a snapshot of the financial position of Tenaz Energy Corp at a specified time, usually calculated after every quarter, six months, or one year. Tenaz Energy Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Tenaz Energy 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 Tenaz currently owns. An asset can also be divided into two categories, current and non-current.