Uranium Gross Profit vs Income Tax Expense Analysis

The correlation between Uranium Royalty's Gross Profit and Income Tax Expense is -0.71. Overlapping area represents the amount of variation of Gross Profit that can explain the historical movement of Income Tax Expense in the same time period over historical financial statements of Uranium Royalty Corp, assuming nothing else is changed. The correlation between historical values of Uranium Royalty's Gross Profit 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 Gross Profit of Uranium Royalty 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 Gross Profit i.e., Uranium Royalty's Gross Profit and Income Tax Expense go up and down completely randomly.