Olympic Non Current Liabilities Total vs Inventory Analysis
ZEUS Stock | USD 50.00 0.06 0.12% |
Olympic Steel financial indicator trend analysis is much more than just breaking down Olympic Steel prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Olympic Steel is a good investment. Please check the relationship between Olympic Steel Non Current Liabilities Total and its Inventory accounts. Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Olympic Steel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment. For more information on how to buy Olympic Stock please use our How to Invest in Olympic Steel guide.
Non Current Liabilities Total vs Inventory
Non Current Liabilities Total vs Inventory Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Olympic Steel Non Current Liabilities Total account and Inventory. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Olympic Steel's Non Current Liabilities Total and Inventory is 0.81. Overlapping area represents the amount of variation of Non Current Liabilities Total that can explain the historical movement of Inventory in the same time period over historical financial statements of Olympic Steel, assuming nothing else is changed. The correlation between historical values of Olympic Steel's Non Current Liabilities Total and Inventory is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Non Current Liabilities Total of Olympic Steel are associated (or correlated) with its Inventory. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Inventory has no effect on the direction of Non Current Liabilities Total i.e., Olympic Steel's Non Current Liabilities Total and Inventory go up and down completely randomly.
Correlation Coefficient | 0.81 |
Relationship Direction | Positive |
Relationship Strength | Strong |
Non Current Liabilities Total
Inventory
Most indicators from Olympic Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Olympic Steel 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 Olympic Steel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment. For more information on how to buy Olympic Stock please use our How to Invest in Olympic Steel guide.Sales General And Administrative To Revenue is likely to gain to 0.12 in 2024, whereas Selling General Administrative is likely to drop slightly above 137.4 M in 2024.
2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 510.2M | 486.1M | 447.1M | 235.8M | Total Revenue | 2.3B | 2.6B | 2.2B | 1.2B |
Olympic Steel fundamental ratios Correlations
Click cells to compare fundamentals
Olympic Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Olympic Steel fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 649.6M | 640.6M | 1.0B | 891.6M | 1.0B | 534.5M | |
Short Long Term Debt Total | 219.4M | 186.2M | 355.8M | 194.4M | 228.5M | 154.6M | |
Other Current Liab | 26.0M | 33.9M | 69.7M | 57.2M | 51.6M | 54.2M | |
Total Current Liabilities | 101.1M | 126.7M | 224.3M | 164.7M | 180.2M | 102.9M | |
Total Stockholder Equity | 308.4M | 301.0M | 424.4M | 516.0M | 555.5M | 583.3M | |
Property Plant And Equipment Net | 182.6M | 182.6M | 174.8M | 176.6M | 220.5M | 145.3M | |
Net Debt | 213.6M | 180.6M | 346.0M | 182.2M | 215.2M | 144.5M | |
Retained Earnings | 179.3M | 172.8M | 293.0M | 379.9M | 418.9M | 439.8M | |
Accounts Payable | 69.5M | 87.3M | 148.6M | 101.4M | 119.7M | 73.0M | |
Cash | 5.7M | 5.5M | 9.8M | 12.2M | 13.2M | 13.9M | |
Non Current Assets Total | 229.7M | 238.4M | 234.2M | 233.5M | 403.5M | 423.6M | |
Non Currrent Assets Other | 14.4M | 18.1M | 15.2M | 2.7M | (76.2M) | (72.3M) | |
Cash And Short Term Investments | 5.7M | 5.5M | 9.8M | 12.2M | 13.2M | 13.9M | |
Net Receivables | 133.6M | 151.6M | 284.6M | 219.8M | 191.1M | 102.6M | |
Common Stock Shares Outstanding | 11.5M | 11.4M | 11.5M | 11.6M | 11.6M | 11.7M | |
Liabilities And Stockholders Equity | 649.6M | 640.6M | 1.0B | 891.6M | 1.0B | 534.5M | |
Non Current Liabilities Total | 240.1M | 212.9M | 374.8M | 211.0M | 270.9M | 166.1M | |
Inventory | 273.5M | 240.0M | 485.0M | 416.9M | 386.5M | 236.1M | |
Other Current Assets | 7.0M | 5.1M | 10.0M | 9.2M | 12.3M | 7.8M | |
Other Stockholder Equity | (335K) | 28.5M | 28.9M | 1.3M | 11.7M | 11.1M | |
Total Liab | 341.2M | 339.6M | 599.1M | 375.7M | 451.2M | 269.0M | |
Property Plant And Equipment Gross | 182.6M | 434.6M | 147.1M | 148.3M | 539.6M | 566.5M | |
Total Current Assets | 419.8M | 402.2M | 789.4M | 658.1M | 603.2M | 352.0M | |
Accumulated Other Comprehensive Income | (2.3M) | (4.2M) | (2.0M) | 1.3M | 41K | 43.1K | |
Short Term Debt | 5.6M | 5.6M | 5.9M | 6.1M | 8.9M | 8.5M | |
Intangible Assets | 29.3M | 32.6M | 33.7M | 32.0M | 92.6M | 97.3M | |
Good Will | 2.4M | 3.4M | 5.1M | 10.5M | 52.1M | 54.7M | |
Common Stock Total Equity | 131.6M | 132.4M | 133.4M | 134.7M | 154.9M | 129.8M | |
Common Stock | 131.6M | 132.4M | 133.4M | 134.7M | 136.5M | 130.5M | |
Other Liab | 23.3M | 24.2M | 24.9M | 21.6M | 24.9M | 17.8M | |
Long Term Debt | 192.9M | 160.6M | 327.8M | 165.7M | 190.2M | 167.4M | |
Property Plant Equipment | 156.2M | 157.2M | 147.1M | 148.3M | 170.6M | 148.1M | |
Other Assets | 14.4M | 18.1M | 15.2M | 12.7M | 16.9M | 9.9M | |
Net Tangible Assets | 275.7M | 301.0M | 424.4M | 516.0M | 593.4M | 317.7M | |
Retained Earnings Total Equity | 179.3M | 172.8M | 293.0M | 379.9M | 436.9M | 458.8M | |
Long Term Debt Total | 193.4M | 160.6M | 327.8M | 165.7M | 190.5M | 236.6M |
Pair Trading with Olympic Steel
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 Olympic Steel 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 Olympic Steel will appreciate offsetting losses from the drop in the long position's value.Moving together with Olympic Stock
Moving against Olympic Stock
0.85 | NC | NACCO Industries | PairCorr |
0.81 | KGC | Kinross Gold | PairCorr |
0.75 | DD | Dupont De Nemours Financial Report 7th of August 2024 | PairCorr |
0.72 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
0.72 | OC | Owens Corning | PairCorr |
The ability to find closely correlated positions to Olympic Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Olympic Steel 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 Olympic Steel - 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 Olympic Steel to buy it.
The correlation of Olympic Steel 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 Olympic Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Olympic Steel 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 Olympic Steel 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.Additional Tools for Olympic Stock Analysis
When running Olympic Steel's price analysis, check to measure Olympic Steel'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 Olympic Steel is operating at the current time. Most of Olympic Steel's value examination focuses on studying past and present price action to predict the probability of Olympic 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 Olympic Steel's price. Additionally, you may evaluate how the addition of Olympic Steel to your portfolios can decrease your overall portfolio volatility.