| ZENITHSTL | | | 9.04 0.03 0.33% |
Zenith Steel financial indicator trend analysis is more than just analyzing Zenith Steel Pipes current accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Zenith Steel Pipes is a good investment. Please check the relationship between Zenith Steel Total Current Liabilities and its Total Stockholder Equity accounts. Check out
Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zenith Steel Pipes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
Total Current Liabilities vs Total Stockholder Equity
Total Current Liabilities vs Total Stockholder Equity Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Zenith Steel Pipes Total Current Liabilities account and
Total Stockholder Equity. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Zenith Steel's Total Current Liabilities and Total Stockholder Equity is -0.48. Overlapping area represents the amount of variation of Total Current Liabilities that can explain the historical movement of Total Stockholder Equity in the same time period over historical financial statements of Zenith Steel Pipes, assuming nothing else is changed. The correlation between historical values of Zenith Steel's Total Current Liabilities and Total Stockholder Equity 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 Zenith Steel Pipes are associated (or correlated) with its Total Stockholder Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Stockholder Equity has no effect on the direction of Total Current Liabilities i.e., Zenith Steel's Total Current Liabilities and Total Stockholder Equity go up and down completely randomly.
Correlation Coefficient | -0.48 |
| Relationship Direction | Negative |
| Relationship Strength | Very Weak |
Total Current Liabilities
Total Current Liabilities is an item on Zenith Steel balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Zenith Steel Pipes 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.
Total Stockholder Equity
The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders.
Most indicators from Zenith Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Zenith Steel Pipes 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
Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zenith Steel Pipes. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in estimate.
Selling General Administrative is likely to drop to about 1.8
M in 2024.
Tax Provision is expected to grow at the current pace this year
Zenith Steel fundamental ratios Correlations
Click cells to compare fundamentals
Zenith Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Zenith Steel fundamental ratios Accounts
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Additional Tools for Zenith Stock Analysis
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predict the probability of Zenith Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zenith Steel's price. Additionally, you may evaluate how the addition of Zenith Steel to your portfolios can decrease your overall portfolio volatility.