Canoo Common Stock vs Short Term Investments Analysis
| GOEV Stock | USD 2.56 0.03 1.16% |
Canoo financial indicator trend analysis is way more than just evaluating Canoo Inc prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Canoo Inc is a good investment. Please check the relationship between Canoo Common Stock and its Short Term Investments accounts. Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canoo Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income.
Common Stock vs Short Term Investments
Common Stock vs Short Term Investments Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Canoo Inc Common Stock account and Short Term Investments. At this time, the significance of the direction appears to have pay attention.
The correlation between Canoo's Common Stock and Short Term Investments is -0.75. Overlapping area represents the amount of variation of Common Stock that can explain the historical movement of Short Term Investments in the same time period over historical financial statements of Canoo Inc, assuming nothing else is changed. The correlation between historical values of Canoo's Common Stock and Short Term Investments is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Common Stock of Canoo Inc are associated (or correlated) with its Short Term Investments. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Short Term Investments has no effect on the direction of Common Stock i.e., Canoo's Common Stock and Short Term Investments go up and down completely randomly.
Correlation Coefficient | -0.75 |
| Relationship Direction | Negative |
| Relationship Strength | Weak |
Common Stock
Short Term Investments
Short Term Investments is an item under the current assets section of Canoo balance sheet. It contains any investments Canoo Inc undertook that will expire in less than one year. These accounts contain financial instruments such as stocks or bonds that Canoo Inc can easily liquidate in the marketplace.Most indicators from Canoo's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Canoo Inc 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canoo Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. Tax Provision is likely to drop to 0.00 in 2024. Selling General Administrative is likely to drop to about 113.5 M in 2024
| 2021 | 2022 | 2023 | 2024 (projected) | Reconciled Depreciation | 8.9M | 11.6M | 13.2M | 10.0M | Total Operating Expenses | 449.9M | 506.8M | 252.5M | 348.6M |
Canoo fundamental ratios Correlations
Click cells to compare fundamentals
Canoo Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Canoo fundamental ratios Accounts
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
| Total Current Liabilities | 10.4M | 27.9M | 136.2M | 218.3M | 184.4M | 110.8M | |
| Net Tangible Assets | (55.9M) | 571.9M | 344.0M | 236.6M | 272.1M | 220.2M | |
| Retained Earnings | (258.7M) | (348.5M) | (692.1M) | (1.2B) | (1.5B) | (1.4B) | |
| Accounts Payable | 2.3M | 17.2M | 52.3M | 103.2M | 65.3M | 44.9M | |
| Other Assets | 1.3M | 14.2M | 15.2M | 93.4M | 107.4M | 112.8M | |
| Other Current Assets | 1.8M | 6.5M | 63.8M | 9.4M | 16.1M | 17.9M | |
| Other Stockholder Equity | 202.8M | 920.3M | 1.0B | 1.4B | 1.7B | 969.3M | |
| Total Current Assets | 31.3M | 708.9M | 291.3M | 52.3M | 32.6M | 30.9M | |
| Property Plant Equipment | 39.6M | 43.3M | 216.5M | 350.7M | 403.3M | 423.5M |
Pair Trading with Canoo
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 Canoo 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 Canoo will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Canoo could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canoo 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 Canoo - 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 Canoo Inc to buy it.
The correlation of Canoo 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 Canoo moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canoo Inc 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 Canoo 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Canoo Inc. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. Note that the Canoo Inc information on this page should be used as a complementary analysis to other Canoo's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
Complementary Tools for Canoo Stock analysis
When running Canoo's price analysis, check to measure Canoo'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 Canoo is operating at the current time. Most of Canoo's value examination focuses on studying past and present price action to predict the probability of Canoo's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Canoo's price. Additionally, you may evaluate how the addition of Canoo to your portfolios can decrease your overall portfolio volatility.
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Is Canoo'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 Canoo. If investors know Canoo 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 Canoo listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (57.80) | Revenue Per Share 0.027 | Return On Assets (0.30) | Return On Equity (1.48) |
The market value of Canoo Inc is measured differently than its book value, which is the value of Canoo that is recorded on the company's balance sheet. Investors also form their own opinion of Canoo's value that differs from its market value or its book value, called intrinsic value, which is Canoo'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 Canoo's market value can be influenced by many factors that don't directly affect Canoo'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 Canoo's value and its price as these two are different measures arrived at by different means. Investors typically determine if Canoo is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Canoo'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.