CVS Health Invested Capital Average vs Earnings before Tax Analysis |
Invested Capital Average vs Earnings before Tax
Accounts Relationship
Invested Capital Average vs Earnings before Tax
Significance: Almost Identical Trend
Overlapping area represents amount of trend that can be explained by analyzing historical patterns of CVS Health Invested Capital Average account and Earnings before Tax
Correlation Coefficient
0.95
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Invested Capital Average
Average invested capital value for the period used in the calculation of Return on Invested Capital, and derived from Invested Capital. Invested capital is an input into the calculation of Return on Invested Capital, and is calculated as: Total Debt plus Total Assets minus Goodwill and Intangible Assets minus Cash and Equivalents minus Current Liabilities. Please note this calculation method is subject to change.Earnings before Tax
Earnings Before Tax is calculated by adding Income Tax Expense back to Net Income.Correlation AnalysisReduce portfolio risk simply by holding instruments which are not perfectly correlated |
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