Topaz Income Before Tax vs Income Tax Expense Analysis
| TPZ Stock | CAD 26.35 0.24 0.90% |
Topaz Energy financial indicator trend analysis is much more than just breaking down Topaz Energy Corp prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Topaz Energy Corp is a good investment. Please check the relationship between Topaz Energy Income Before Tax and its Income Tax Expense accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Topaz 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.
Income Before Tax vs Income Tax Expense
Income Before Tax vs Income Tax Expense Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Topaz Energy Corp Income Before Tax account and Income Tax Expense. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Topaz Energy's Income Before Tax and Income Tax Expense is 0.96. Overlapping area represents the amount of variation of Income Before Tax that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Topaz Energy Corp, assuming nothing else is changed. The correlation between historical values of Topaz Energy's Income Before Tax 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 Income Before Tax of Topaz Energy Corp 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 Income Before Tax i.e., Topaz Energy's Income Before Tax and Income Tax Expense go up and down completely randomly.
Correlation Coefficient | 0.96 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Income Before Tax
Income Before Tax which can also be referred as pre-tax income is reported on Topaz Energy income statement and is an important metric when analyzing Topaz Energy Corp profitability. Accounting techniques because taxes can be complex, and not perfectly consistent from one company to company, an analyst may use pre-tax income as a more stable measure of profitability.Income Tax Expense
Most indicators from Topaz Energy's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Topaz 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 Topaz 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, Topaz Energy's Issuance Of Capital Stock is very stable compared to the past year. As of the 17th of December 2024, Sales General And Administrative To Revenue is likely to grow to 0.06, while Discontinued Operations is likely to drop about 26.2 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 43.2M | 147.3M | 82.3M | 61.2M | Total Revenue | 198.6M | 356.7M | 306.7M | 212.2M |
Topaz Energy fundamental ratios Correlations
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Topaz Energy Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Topaz 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 Topaz 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 Topaz Energy will appreciate offsetting losses from the drop in the long position's value.Moving together with Topaz Stock
Moving against Topaz Stock
The ability to find closely correlated positions to Topaz 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 Topaz 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 Topaz 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 Topaz Energy Corp to buy it.
The correlation of Topaz 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 Topaz Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Topaz 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 Topaz 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.Other Information on Investing in Topaz Stock
Balance Sheet is a snapshot of the financial position of Topaz Energy Corp at a specified time, usually calculated after every quarter, six months, or one year. Topaz Energy Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Topaz 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 Topaz currently owns. An asset can also be divided into two categories, current and non-current.