Topaz Total Revenue vs Tax Provision Analysis
| TPZ Stock | CAD 29.35 0.05 0.17% |
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 Total Revenue and its Tax Provision 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.
Total Revenue vs Tax Provision
Total Revenue vs Tax Provision Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Topaz Energy Corp Total Revenue account and Tax Provision. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Topaz Energy's Total Revenue and Tax Provision is 0.96. Overlapping area represents the amount of variation of Total Revenue that can explain the historical movement of Tax Provision 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 Total Revenue and Tax Provision 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 Revenue of Topaz Energy Corp are associated (or correlated) with its Tax Provision. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Tax Provision has no effect on the direction of Total Revenue i.e., Topaz Energy's Total Revenue and Tax Provision go up and down completely randomly.
Correlation Coefficient | 0.96 |
| Relationship Direction | Positive |
| Relationship Strength | Very Strong |
Total Revenue
Total revenue comprises all receipts Topaz Energy Corp generated from the sale of its products or services. The total amount of income generated by the sale of goods or services related to the company's primary operations.Tax Provision
The amount set aside by a company to cover any estimated taxes for the current period. It reflects the company's expected tax liabilities.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 23rd of November 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
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.