Air Total Current Assets vs Short Term Investments Analysis

AC Stock  CAD 19.18  0.02  0.10%   
Air Canada financial indicator trend analysis is way more than just evaluating Air Canada prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Air Canada is a good investment. Please check the relationship between Air Canada Total Current Assets and its Short Term Investments accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Air Canada. 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 Assets vs Short Term Investments

Total Current Assets vs Short Term Investments Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Air Canada Total Current Assets account and Short Term Investments. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Air Canada's Total Current Assets and Short Term Investments is 0.83. Overlapping area represents the amount of variation of Total Current Assets that can explain the historical movement of Short Term Investments in the same time period over historical financial statements of Air Canada, assuming nothing else is changed. The correlation between historical values of Air Canada's Total Current Assets 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 Total Current Assets of Air Canada 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 Total Current Assets i.e., Air Canada's Total Current Assets and Short Term Investments go up and down completely randomly.

Correlation Coefficient

0.83
Relationship DirectionPositive 
Relationship StrengthStrong

Total Current Assets

The total value of all assets that are expected to be converted into cash within one year or during the normal operating cycle.

Short Term Investments

Short Term Investments is an item under the current assets section of Air Canada balance sheet. It contains any investments Air Canada undertook that will expire in less than one year. These accounts contain financial instruments such as stocks or bonds that Air Canada can easily liquidate in the marketplace.
Most indicators from Air Canada's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Air Canada 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 Air Canada. 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.
At this time, Air Canada's Selling General Administrative is very stable compared to the past year. As of the 31st of October 2024, Enterprise Value Over EBITDA is likely to grow to 4.75, while Tax Provision is likely to drop (67.2 M).
 2021 2022 2023 2024 (projected)
Interest Expense732M896M930M976.5M
Depreciation And Amortization1.6B1.6B1.7B879.0M

Air Canada fundamental ratios Correlations

0.930.750.80.50.960.90.230.861.00.760.880.60.830.610.930.40.11-0.390.960.780.980.820.960.820.86
0.930.510.730.30.890.980.030.840.910.640.860.480.740.760.940.290.15-0.460.950.790.960.720.850.790.8
0.750.510.640.740.750.470.60.480.780.650.570.640.630.160.520.460.16-0.30.60.50.660.570.760.610.71
0.80.730.640.380.770.720.070.650.80.560.940.70.930.490.730.460.05-0.360.780.950.790.630.870.960.87
0.50.30.740.380.640.260.940.140.530.360.370.350.260.050.160.050.6-0.470.230.240.40.350.490.480.33
0.960.890.750.770.640.880.410.720.960.60.820.570.740.640.820.220.37-0.540.870.710.930.780.890.810.82
0.90.980.470.720.260.880.00.790.880.540.830.510.710.820.910.260.18-0.510.930.790.930.690.830.770.81
0.230.030.60.070.940.410.0-0.140.280.130.040.17-0.05-0.12-0.12-0.110.66-0.38-0.05-0.090.120.140.20.170.07
0.860.840.480.650.140.720.79-0.140.850.810.80.290.830.470.950.33-0.25-0.160.920.690.860.810.790.620.65
1.00.910.780.80.530.960.880.280.850.770.860.590.830.560.910.380.12-0.390.940.750.970.840.950.80.85
0.760.640.650.560.360.60.540.130.810.770.660.430.680.060.740.66-0.340.090.740.570.730.670.760.570.57
0.880.860.570.940.370.820.830.040.80.860.660.530.930.570.850.360.07-0.390.870.950.890.690.880.960.81
0.60.480.640.70.350.570.510.170.290.590.430.530.540.360.450.77-0.04-0.050.560.630.60.290.740.670.85
0.830.740.630.930.260.740.71-0.050.830.830.680.930.540.410.830.42-0.13-0.240.850.890.810.750.840.850.8
0.610.760.160.490.050.640.82-0.120.470.560.060.570.360.410.64-0.030.31-0.610.660.590.70.30.560.550.64
0.930.940.520.730.160.820.91-0.120.950.910.740.850.450.830.640.37-0.11-0.250.990.770.940.80.860.720.78
0.40.290.460.460.050.220.26-0.110.330.380.660.360.770.42-0.030.37-0.550.360.430.470.410.180.570.420.6
0.110.150.160.050.60.370.180.66-0.250.12-0.340.07-0.04-0.130.31-0.11-0.55-0.64-0.080.00.07-0.01-0.010.2-0.01
-0.39-0.46-0.3-0.36-0.47-0.54-0.51-0.38-0.16-0.390.09-0.39-0.05-0.24-0.61-0.250.36-0.64-0.29-0.35-0.4-0.27-0.32-0.44-0.33
0.960.950.60.780.230.870.93-0.050.920.940.740.870.560.850.660.990.43-0.08-0.290.80.970.80.920.770.86
0.780.790.50.950.240.710.79-0.090.690.750.570.950.630.890.590.770.470.0-0.350.80.810.510.840.950.84
0.980.960.660.790.40.930.930.120.860.970.730.890.60.810.70.940.410.07-0.40.970.810.750.950.830.88
0.820.720.570.630.350.780.690.140.810.840.670.690.290.750.30.80.18-0.01-0.270.80.510.750.710.550.59
0.960.850.760.870.490.890.830.20.790.950.760.880.740.840.560.860.57-0.01-0.320.920.840.950.710.870.93
0.820.790.610.960.480.810.770.170.620.80.570.960.670.850.550.720.420.2-0.440.770.950.830.550.870.84
0.860.80.710.870.330.820.810.070.650.850.570.810.850.80.640.780.6-0.01-0.330.860.840.880.590.930.84
Click cells to compare fundamentals

Air Canada Account Relationship Matchups

Air Canada fundamental ratios Accounts

201920202021202220232024 (projected)
Total Assets27.8B28.9B30.6B29.5B30.2B17.0B
Short Long Term Debt Total9.2B13.0B16.5B16.3B13.0B7.1B
Other Current Liab4.1B2.5B2.6B2.7B3.1B2.3B
Total Current Liabilities7.8B7.1B6.9B9.4B10.0B10.5B
Total Stockholder Equity4.4B1.7B9M(1.6B)796M835.8M
Property Plant And Equipment Net12.8B12.1B11.7B12.0B11.9B8.1B
Net Debt7.2B9.3B12.3B13.6B10.2B5.5B
Retained Earnings3.5B(494M)(2.8B)(4.4B)(2.0B)(2.1B)
Cash2.1B3.7B4.2B2.7B2.8B1.5B
Non Current Assets Total20.2B20.2B20.6B19.8B19.9B11.9B
Non Currrent Assets Other2.4B3.1B3.8B2.6B2.8B1.7B
Cash And Short Term Investments5.9B7.5B8.8B8.0B8.6B9.0B
Net Receivables926M644M691M1.0B1.1B810.4M
Liabilities And Stockholders Equity27.8B28.9B30.6B29.5B30.2B17.0B
Non Current Liabilities Total15.6B20.1B23.7B21.7B19.4B11.7B
Inventory212M166M224M318M337M221.3M
Other Current Assets489M360M336M322M251M405.7M
Total Liab23.4B27.2B30.6B31.1B29.4B16.7B
Property Plant And Equipment Gross12.8B12.1B22.5B23.6B24.4B25.6B
Total Current Assets7.5B8.7B10.1B9.7B10.3B5.1B
Short Term Debt1.2B1.8B1.0B1.3B866M729.3M
Accounts Payable2.5B2.5B2.6B2.7B3.3B2.0B
Accumulated Other Comprehensive Income25M(39M)(45M)(46M)(57M)(59.9M)
Short Term Investments3.8B3.8B4.6B5.3B5.7B6.0B
Current Deferred Revenue4.1B2.9B3.3B5.4B5.8B3.0B
Intangible Assets1.0B1.1B1.1B1.1B1.1B671.8M
Common Stock Total Equity799M798M785M2.2B2.5B2.6B
Common Stock785M2.2B2.7B2.7B2.7B1.5B
Other Liab7.6B8.9B8.2B6.7B7.7B5.9B
Net Tangible Assets125M(2.7B)(4.3B)(5.9B)(5.3B)(5.0B)
Other Assets3.5B3.9B4.4B3.6B4.1B3.1B
Long Term Debt8.0B8.1B15.5B15.0B11.0B9.2B
Short Long Term Debt587M1.2B511M713M359M341.1M
Property Plant Equipment11.8B11.4B11.2B12.0B13.7B10.0B
Long Term Debt Total8.0B11.2B15.5B15.0B17.3B10.4B
Long Term Investments638M570M653M887M820M679.9M

Pair Trading with Air Canada

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 Air Canada 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 Air Canada will appreciate offsetting losses from the drop in the long position's value.

Moving together with Air Stock

  0.67AAPL Apple Inc CDRPairCorr
  0.64JPM JPMorgan ChasePairCorr
The ability to find closely correlated positions to Air Canada could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Air Canada 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 Air Canada - 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 Air Canada to buy it.
The correlation of Air Canada 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 Air Canada moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Air Canada 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 Air Canada 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.
Pair CorrelationCorrelation Matching

Other Information on Investing in Air Stock

Balance Sheet is a snapshot of the financial position of Air Canada at a specified time, usually calculated after every quarter, six months, or one year. Air Canada Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Air Canada and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Air currently owns. An asset can also be divided into two categories, current and non-current.