Canadian Long Term Investments vs Other Current Assets Analysis
CSIQ Stock | USD 15.15 0.65 4.48% |
Canadian Solar financial indicator trend analysis is way more than just evaluating Canadian Solar prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canadian Solar is a good investment. Please check the relationship between Canadian Solar Long Term Investments and its Other Current Assets accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.
Long Term Investments vs Other Current Assets
Long Term Investments vs Other Current Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canadian Solar Long Term Investments account and Other Current Assets. At this time, the significance of the direction appears to have strong relationship.
The correlation between Canadian Solar's Long Term Investments and Other Current Assets is 0.78. Overlapping area represents the amount of variation of Long Term Investments that can explain the historical movement of Other Current Assets in the same time period over historical financial statements of Canadian Solar, assuming nothing else is changed. The correlation between historical values of Canadian Solar's Long Term Investments and Other Current Assets is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Long Term Investments of Canadian Solar are associated (or correlated) with its Other Current Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Other Current Assets has no effect on the direction of Long Term Investments i.e., Canadian Solar's Long Term Investments and Other Current Assets go up and down completely randomly.
Correlation Coefficient | 0.78 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Long Term Investments
Long Term Investments is an item on the asset side of Canadian Solar balance sheet that represents investments Canadian Solar intends to hold for over a year. Canadian Solar long term investments may include different instruments such as stocks, bonds, real estate and cash.Other Current Assets
Assets expected to be converted into cash, sold, or consumed either in one year or in the operating cycle, which are not included under standard current asset categories.Most indicators from Canadian Solar's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canadian Solar 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.At this time, Canadian Solar's Issuance Of Capital Stock is relatively stable compared to the past year. As of 04/28/2024, Enterprise Value is likely to grow to about 3.4 B, while Selling General Administrative is likely to drop slightly above 318.8 M.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 909.3M | 1.3B | 1.3B | 1.3B | Total Revenue | 5.3B | 7.5B | 7.6B | 8.0B |
Canadian Solar fundamental ratios Correlations
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Canadian Solar Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Canadian Solar fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 5.5B | 6.5B | 7.4B | 9.0B | 11.9B | 12.5B | |
Total Stockholder Equity | 1.4B | 1.6B | 1.8B | 1.9B | 2.6B | 2.7B | |
Property Plant And Equipment Net | 1.1B | 1.3B | 1.5B | 2.2B | 4.3B | 4.5B | |
Net Debt | 1.8B | 1.6B | 2.4B | 3.0B | 1.5B | 1.0B | |
Cash | 668.8M | 1.2B | 869.8M | 981.4M | 2.9B | 3.1B | |
Non Current Assets Total | 2.2B | 2.4B | 2.6B | 3.4B | 6.1B | 6.4B | |
Non Currrent Assets Other | 687.1M | 674.5M | 645.8M | 734.9M | 1.2B | 1.3B | |
Other Assets | 841.1M | 845.1M | 882.3M | 963.0M | 1.1B | 1.2B | |
Cash And Short Term Investments | 668.8M | 1.2B | 869.8M | 981.4M | 2.9B | 3.1B | |
Net Receivables | 592.2M | 545.7M | 887.5M | 1.2B | 1.2B | 1.3B | |
Common Stock Shares Outstanding | 60.8M | 62.3M | 68.9M | 71.2M | 72.2M | 49.4M | |
Liabilities And Stockholders Equity | 5.5B | 6.5B | 7.4B | 9.0B | 11.9B | 12.5B | |
Inventory | 554.1M | 696.0M | 1.2B | 1.5B | 1.4B | 1.4B | |
Other Stockholder Equity | 5.3M | (28.2M) | (19.4M) | 1.1M | 292.7M | 307.4M | |
Total Liab | 4.0B | 4.6B | 5.3B | 6.7B | 8.2B | 8.6B | |
Property Plant And Equipment Gross | 1.1B | 1.3B | 1.5B | 2.2B | 2.6B | 2.7B | |
Total Current Assets | 3.3B | 4.2B | 4.8B | 5.6B | 5.8B | 6.1B | |
Other Current Liab | 588.5M | 757.2M | 913.4M | 1.2B | 2.0B | 2.1B | |
Total Current Liabilities | 3.1B | 3.6B | 4.0B | 5.3B | 5.9B | 6.2B | |
Retained Earnings | 793.6M | 940.3M | 1.0B | 1.3B | 1.5B | 1.6B | |
Accounts Payable | 585.6M | 514.7M | 503.0M | 805.3M | 813.7M | 458.0M | |
Non Current Liabilities Total | 950.2M | 1.1B | 1.2B | 1.5B | 2.3B | 2.4B | |
Other Current Assets | 857.6M | 1.1B | 1.0B | 653.9M | 292.9M | 533.7M | |
Accumulated Other Comprehensive Income | (109.6M) | (28.7M) | (50.6M) | (170.6M) | (118.7M) | (112.8M) | |
Other Liab | 295.0M | 370.8M | 452.2M | 360.6M | 414.6M | 435.4M | |
Common Stock | 702.9M | 703.8M | 687.0M | 835.5M | 752.0M | 714.4M | |
Property Plant Equipment | 1.1B | 1.3B | 1.5B | 2.3B | 2.6B | 2.8B | |
Short Long Term Debt Total | 2.4B | 2.8B | 3.3B | 4.0B | 4.5B | 4.7B | |
Current Deferred Revenue | 134.8M | 189.5M | 135.5M | 334.9M | 392.3M | 465.7M | |
Long Term Debt | 619.5M | 669.3M | 748.3M | 1.0B | 1.2B | 1.3B | |
Short Term Debt | 1.8B | 2.1B | 2.5B | 2.9B | 2.7B | 2.8B | |
Intangible Assets | 83.6M | 84.8M | 90.0M | 85.6M | 19.7M | 18.7M | |
Common Stock Total Equity | 702.2M | 702.9M | 703.8M | 687.0M | 790.1M | 705.7M | |
Net Tangible Assets | 1.3B | 1.5B | 1.7B | 1.9B | 2.2B | 1.2B | |
Long Term Investments | 152.8M | 78.3M | 98.8M | 115.8M | 104.2M | 129.2M | |
Short Long Term Debt | 1.8B | 2.1B | 2.5B | 2.9B | 3.4B | 1.8B |
Canadian Solar Investors Sentiment
The influence of Canadian Solar's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Canadian. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Canadian Solar's public news can be used to forecast risks associated with an investment in Canadian. The trend in average sentiment can be used to explain how an investor holding Canadian can time the market purely based on public headlines and social activities around Canadian Solar. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Canadian Solar's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Canadian Solar's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Canadian Solar's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Canadian Solar.
Canadian Solar Implied Volatility | 73.25 |
Canadian Solar's implied volatility exposes the market's sentiment of Canadian Solar stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Canadian Solar's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Canadian Solar stock will not fluctuate a lot when Canadian Solar's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Canadian Solar in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Canadian Solar's short interest history, or implied volatility extrapolated from Canadian Solar options trading.
Pair Trading with Canadian Solar
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 Canadian Solar 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 Canadian Solar will appreciate offsetting losses from the drop in the long position's value.Moving together with Canadian Stock
0.86 | INTC | Intel Financial Report 25th of July 2024 | PairCorr |
Moving against Canadian Stock
0.78 | MU | Micron Technology Financial Report 26th of June 2024 | PairCorr |
0.75 | CLRO | ClearOne | PairCorr |
0.61 | NVDA | NVIDIA Financial Report 22nd of May 2024 | PairCorr |
0.56 | TSM | Taiwan Semiconductor Financial Report 18th of July 2024 | PairCorr |
The ability to find closely correlated positions to Canadian Solar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canadian Solar 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 Canadian Solar - 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 Canadian Solar to buy it.
The correlation of Canadian Solar 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 Canadian Solar moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canadian Solar 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 Canadian Solar 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.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Canadian Solar. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. To learn how to invest in Canadian Stock, please use our How to Invest in Canadian Solar guide.You can also try the Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Complementary Tools for Canadian Stock analysis
When running Canadian Solar's price analysis, check to measure Canadian Solar's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Canadian Solar is operating at the current time. Most of Canadian Solar's value examination focuses on studying past and present price action to predict the probability of Canadian Solar's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canadian Solar's price. Additionally, you may evaluate how the addition of Canadian Solar to your portfolios can decrease your overall portfolio volatility.
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Is Canadian Solar's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Canadian Solar. If investors know Canadian will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Canadian Solar listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.71) | Earnings Share 4.99 | Revenue Per Share 116.461 | Quarterly Revenue Growth (0.14) | Return On Assets 0.0271 |
The market value of Canadian Solar is measured differently than its book value, which is the value of Canadian that is recorded on the company's balance sheet. Investors also form their own opinion of Canadian Solar's value that differs from its market value or its book value, called intrinsic value, which is Canadian Solar's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Canadian Solar's market value can be influenced by many factors that don't directly affect Canadian Solar's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Canadian Solar's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canadian Solar is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canadian Solar's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.