Covalon Price To Sales Ratio vs Average Payables Analysis

COV Stock

CAD 1.01 0.22 17.89%

Covalon Technologies financial indicator trend analysis is way more than just evaluating Covalon Technologies prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Covalon Technologies is a good investment. Please check the relationship between Covalon Technologies Price To Sales Ratio and its Average Payables accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

Price To Sales Ratio vs Average Payables

Price To Sales Ratio vs Average Payables Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Covalon Technologies Price To Sales Ratio account and Average Payables. At this time, the significance of the direction appears to have significant contrarian relationship.

The correlation between Covalon Technologies' Price To Sales Ratio and Average Payables is -0.47. Overlapping area represents the amount of variation of Price To Sales Ratio that can explain the historical movement of Average Payables in the same time period over historical financial statements of Covalon Technologies, assuming nothing else is changed. The correlation between historical values of Covalon Technologies' Price To Sales Ratio and Average Payables is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Price To Sales Ratio of Covalon Technologies are associated (or correlated) with its Average Payables. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Average Payables has no effect on the direction of Price To Sales Ratio i.e., Covalon Technologies' Price To Sales Ratio and Average Payables go up and down completely randomly.

Correlation Coefficient

-0.47

Relationship Direction	Negative
Relationship Strength	Very Weak

View All Relationships

Price To Sales Ratio

Price to Sales Ratio is figured by comparing Covalon Technologies stock price to its revenues. An advantage to using Price to Sales ratio is that it is based on Covalon Technologies sales, a figure that is much harder to manipulate than other Covalon Technologies multiples. Because sales tend to be more stable P/S ratio can be a good tool for screening cyclical companies fluctuating earnings patterns. A valuation ratio that compares a company’s stock price to its revenues, calculated by dividing the company’s market cap by its total sales or revenue over a 12-month period.

Average Payables

The average amount owed to suppliers and creditors over a specific period, reflecting the company's payment cycle and credit terms with suppliers.

Most indicators from Covalon Technologies' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Covalon Technologies 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 Covalon Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

Sales General And Administrative To Revenue is likely to climb to 0.56 in 2024, whereas Selling General Administrative is likely to drop slightly above 5.3 M in 2024.

	2021	2022	2023	2024 (projected)
Other Operating Expenses	27.3M	31.1M	35.8M	37.6M
Depreciation And Amortization	1.0M	969.4K	1.1M	1.2M

Other Operating Expenses Depreciation And Amortization

Covalon Technologies fundamental ratios Correlations

	Total Assets	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Shares Outstanding	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Current Deferred Revenue	Intangible Assets	Non Current Liabilities Total	Other Current Liab	Short Long Term Debt Total	Common Stock	Other Liab	Net Tangible Assets
Total Assets		0.71	0.83	0.79	-0.07	-0.4	0.76	0.81	0.59	-0.3	0.8	0.7	0.87	0.85	0.58	0.06	0.74	0.91	-0.19	-0.26	0.68	-0.52	0.62	0.9	-0.5	0.39
Total Current Liabilities	0.71		0.19	0.86	0.64	-0.62	0.98	0.17	0.97	-0.25	0.16	0.26	0.55	0.73	0.04	0.06	0.99	0.37	0.06	0.27	0.75	-0.85	0.97	0.59	-0.06	-0.29
Total Stockholder Equity	0.83	0.19		0.46	-0.61	-0.06	0.29	0.98	0.04	-0.22	0.97	0.8	0.81	0.62	0.79	0.03	0.23	0.98	-0.35	-0.61	0.28	-0.04	0.07	0.81	-0.7	0.79
Property Plant And Equipment Net	0.79	0.86	0.46		0.34	-0.53	0.92	0.4	0.78	-0.22	0.39	0.46	0.71	0.72	0.35	0.12	0.82	0.57	-0.07	0.0	0.5	-0.83	0.78	0.73	-0.36	0.05
Net Debt	-0.07	0.64	-0.61	0.34		-0.42	0.55	-0.63	0.73	0.03	-0.64	-0.42	-0.17	0.09	-0.6	0.0	0.61	-0.47	0.27	0.75	0.39	-0.66	0.71	-0.14	0.49	-0.85
Retained Earnings	-0.4	-0.62	-0.06	-0.53	-0.42		-0.61	-0.02	-0.54	0.82	-0.02	-0.3	-0.5	-0.57	0.11	-0.03	-0.61	-0.21	-0.25	-0.02	-0.32	0.49	-0.56	-0.43	0.13	0.14
Accounts Payable	0.76	0.98	0.29	0.92	0.55	-0.61		0.25	0.92	-0.25	0.24	0.37	0.65	0.78	0.15	0.02	0.95	0.45	-0.04	0.14	0.66	-0.83	0.92	0.67	-0.2	-0.16
Cash	0.81	0.17	0.98	0.4	-0.63	-0.02	0.25		0.05	-0.22	1.0	0.7	0.72	0.53	0.81	0.05	0.22	0.96	-0.22	-0.63	0.35	-0.05	0.09	0.72	-0.58	0.74
Non Current Assets Total	0.59	0.97	0.04	0.78	0.73	-0.54	0.92	0.05		-0.11	0.04	0.1	0.36	0.61	-0.09	0.09	0.97	0.21	0.12	0.44	0.81	-0.9	0.99	0.46	0.09	-0.4
Non Currrent Assets Other	-0.3	-0.25	-0.22	-0.22	0.03	0.82	-0.25	-0.22	-0.11		-0.24	-0.35	-0.45	-0.36	-0.1	-0.01	-0.26	-0.31	-0.35	0.39	-0.07	0.06	-0.17	-0.31	0.16	-0.12
Cash And Short Term Investments	0.8	0.16	0.97	0.39	-0.64	-0.02	0.24	1.0	0.04	-0.24		0.72	0.7	0.53	0.81	0.06	0.21	0.95	-0.22	-0.64	0.34	-0.04	0.07	0.71	-0.59	0.76
Net Receivables	0.7	0.26	0.8	0.46	-0.42	-0.3	0.37	0.7	0.1	-0.35	0.72		0.79	0.8	0.46	0.01	0.26	0.8	-0.51	-0.47	0.16	-0.03	0.08	0.86	-0.84	0.81
Common Stock Shares Outstanding	0.87	0.55	0.81	0.71	-0.17	-0.5	0.65	0.72	0.36	-0.45	0.7	0.79		0.83	0.52	-0.05	0.54	0.88	-0.26	-0.4	0.33	-0.3	0.41	0.92	-0.7	0.48
Inventory	0.85	0.73	0.62	0.72	0.09	-0.57	0.78	0.53	0.61	-0.36	0.53	0.8	0.83		0.26	0.04	0.73	0.72	-0.35	-0.11	0.59	-0.44	0.6	0.92	-0.59	0.37
Other Current Assets	0.58	0.04	0.79	0.35	-0.6	0.11	0.15	0.81	-0.09	-0.1	0.81	0.46	0.52	0.26		0.03	0.05	0.74	-0.2	-0.76	0.08	-0.03	-0.03	0.46	-0.48	0.59
Other Stockholder Equity	0.06	0.06	0.03	0.12	0.0	-0.03	0.02	0.05	0.09	-0.01	0.06	0.01	-0.05	0.04	0.03		0.06	0.03	0.1	0.16	0.06	-0.1	0.04	0.04	-0.09	0.08
Total Liab	0.74	0.99	0.23	0.82	0.61	-0.61	0.95	0.22	0.97	-0.26	0.21	0.26	0.54	0.73	0.05	0.06		0.4	0.08	0.27	0.83	-0.84	0.98	0.59	-0.03	-0.27
Total Current Assets	0.91	0.37	0.98	0.57	-0.47	-0.21	0.45	0.96	0.21	-0.31	0.95	0.8	0.88	0.72	0.74	0.03	0.4		-0.29	-0.55	0.41	-0.16	0.25	0.86	-0.66	0.69
Current Deferred Revenue	-0.19	0.06	-0.35	-0.07	0.27	-0.25	-0.04	-0.22	0.12	-0.35	-0.22	-0.51	-0.26	-0.35	-0.2	0.1	0.08	-0.29		0.11	0.09	-0.15	0.16	-0.38	0.44	-0.48
Intangible Assets	-0.26	0.27	-0.61	0.0	0.75	-0.02	0.14	-0.63	0.44	0.39	-0.64	-0.47	-0.4	-0.11	-0.76	0.16	0.27	-0.55	0.11		0.3	-0.39	0.36	-0.24	0.47	-0.64
Non Current Liabilities Total	0.68	0.75	0.28	0.5	0.39	-0.32	0.66	0.35	0.81	-0.07	0.34	0.16	0.33	0.59	0.08	0.06	0.83	0.41	0.09	0.3		-0.63	0.81	0.47	0.11	-0.17
Other Current Liab	-0.52	-0.85	-0.04	-0.83	-0.66	0.49	-0.83	-0.05	-0.9	0.06	-0.04	-0.03	-0.3	-0.44	-0.03	-0.1	-0.84	-0.16	-0.15	-0.39	-0.63		-0.89	-0.39	-0.09	0.36
Short Long Term Debt Total	0.62	0.97	0.07	0.78	0.71	-0.56	0.92	0.09	0.99	-0.17	0.07	0.08	0.41	0.6	-0.03	0.04	0.98	0.25	0.16	0.36	0.81	-0.89		0.45	0.12	-0.43
Common Stock	0.9	0.59	0.81	0.73	-0.14	-0.43	0.67	0.72	0.46	-0.31	0.71	0.86	0.92	0.92	0.46	0.04	0.59	0.86	-0.38	-0.24	0.47	-0.39	0.45		-0.71	0.56
Other Liab	-0.5	-0.06	-0.7	-0.36	0.49	0.13	-0.2	-0.58	0.09	0.16	-0.59	-0.84	-0.7	-0.59	-0.48	-0.09	-0.03	-0.66	0.44	0.47	0.11	-0.09	0.12	-0.71		-0.79
Net Tangible Assets	0.39	-0.29	0.79	0.05	-0.85	0.14	-0.16	0.74	-0.4	-0.12	0.76	0.81	0.48	0.37	0.59	0.08	-0.27	0.69	-0.48	-0.64	-0.17	0.36	-0.43	0.56	-0.79

Click cells to compare fundamentals

Covalon Technologies Account Relationship Matchups

Covalon Technologies fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	34.7M	40.6M	30.4M	24.9M	28.6M	18.5M
Total Current Liabilities	22.6M	5.0M	4.5M	5.2M	6.0M	4.9M
Total Stockholder Equity	9.1M	33.4M	24.2M	18.8M	21.6M	12.3M
Property Plant And Equipment Net	4.6M	2.1M	1.9M	1.7M	1.9M	1.2M
Net Debt	17.4M	(20.4M)	(11.9M)	(7.2M)	(6.5M)	(6.2M)
Retained Earnings	(47.7M)	(24.2M)	(33.9M)	(38.4M)	(34.5M)	(36.3M)
Accounts Payable	14.0M	4.0M	3.7M	3.8M	4.4M	3.8M
Cash	3.5M	22.9M	14.1M	8.8M	10.1M	6.3M
Non Current Assets Total	19.8M	3.1M	3.2M	3.6M	4.2M	5.2M
Non Currrent Assets Other	36.6K	37.3K	137.1K	135.2K	121.7K	115.6K
Cash And Short Term Investments	3.5M	22.9M	14.1M	8.8M	10.1M	7.6M
Net Receivables	3.3M	6.4M	4.7M	6.2M	7.1M	7.4M
Common Stock Shares Outstanding	25.8M	25.8M	25.8M	24.9M	28.6M	15.1M
Liabilities And Stockholders Equity	34.7M	40.6M	30.4M	24.9M	28.6M	18.5M
Inventory	7.2M	4.7M	5.0M	5.9M	6.8M	7.2M
Other Current Assets	809.4K	3.4M	3.5M	390.1K	448.6K	637.1K
Other Stockholder Equity	11.7M	11.8M	11.3M	11.4M	10.3M	12.8M
Total Liab	25.6M	7.2M	6.1M	6.1M	7.0M	6.1M
Total Current Assets	14.8M	37.4M	27.2M	21.3M	24.5M	13.3M
Accumulated Other Comprehensive Income	565.8K	1.1M	3.0M	3.0M	3.4M	3.6M
Current Deferred Revenue	498.1K	414.6K	209.1K	80.7K	72.6K	69.0K
Intangible Assets	2.2M	897.9K	1.3M	1.8M	2.1M	1.6M
Non Current Liabilities Total	3.0M	2.2M	1.6M	919.1K	1.1M	1.5M
Other Current Liab	(10.1M)	414.6K	209.1K	668.0K	601.2K	631.2K
Short Long Term Debt Total	20.9M	2.6M	2.2M	1.6M	1.8M	1.7M
Other Liab	438.9K	290.1K	162.4K	51.4K	46.3K	43.9K
Net Tangible Assets	259.4K	(5.6M)	32.9M	23.2M	26.7M	28.1M
Other Assets	648.5K	542.3K	513.2K	290.3K	261.3K	248.2K
Deferred Long Term Liab	611.8K	505.0K	376.1K	290.3K	261.3K	248.2K
Short Term Debt	18.2M	541.4K	609.6K	643.4K	739.9K	702.9K
Property Plant Equipment	1.9M	4.6M	2.1M	1.9M	2.2M	1.7M
Net Invested Capital	26.8M	33.4M	24.2M	18.8M	21.6M	25.1M
Net Working Capital	(7.8M)	32.4M	22.7M	16.1M	18.5M	13.4M

Pair Trading with Covalon Technologies

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 Covalon Technologies 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 Covalon Technologies will appreciate offsetting losses from the drop in the long position's value.

Moving against Covalon Stock

0.6	RY-PZ	Royal Bank	Pair Corr
0.5	TD-PFI	Toronto Dominion Bank	Pair Corr
0.5	TD-PFE	Toronto Dominion Bank	Pair Corr
0.49	BFM	Bedford Metals Corp	Pair Corr
0.48	TD-PFL	Toronto Dominion Bank	Pair Corr

The ability to find closely correlated positions to Covalon Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Covalon Technologies 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 Covalon Technologies - 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 Covalon Technologies to buy it.

The correlation of Covalon Technologies 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 Covalon Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Covalon Technologies 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 Covalon Technologies 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 Correlation Correlation Matching

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Covalon Technologies. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors.

You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.

Complementary Tools for Covalon Stock analysis

When running Covalon Technologies' price analysis, check to measure Covalon Technologies' 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 Covalon Technologies is operating at the current time. Most of Covalon Technologies' value examination focuses on studying past and present price action to predict the probability of Covalon Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Covalon Technologies' price. Additionally, you may evaluate how the addition of Covalon Technologies to your portfolios can decrease your overall portfolio volatility.

	Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios
	Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon
	Content Syndication Quickly integrate customizable finance content to your own investment portal
	Risk-Return Analysis View associations between returns expected from investment and the risk you assume
	Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments

Please note, there is a significant difference between Covalon Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Covalon Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Covalon Technologies' 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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC

Covalon Price To Sales Ratio vs Average Payables Analysis

Price To Sales Ratio vs Average Payables

Price To Sales Ratio vs Average Payables Correlation Analysis

Correlation Coefficient

Price To Sales Ratio

Average Payables

Covalon Technologies fundamental ratios Correlations

Covalon Technologies Account Relationship Matchups

High Positive Relationship

High Negative Relationship

Covalon Technologies fundamental ratios Accounts

Pair Trading with Covalon Technologies

Moving against Covalon Stock

Complementary Tools for Covalon Stock analysis

COMMON DESTINATIONS

MAIN CATEGORIES

COMPANY

Cash And Short Term Investments	+ 1.0	Cash
Total Liab	+ 0.99	Total Current Liabilities
Short Long Term Debt Total	+ 0.99	Non Current Assets Total
Accounts Payable	+ 0.98	Total Current Liabilities
Cash	+ 0.98	Total Stockholder Equity
Total Current Assets	+ 0.98	Total Stockholder Equity

Other Current Liab	- 0.9	Non Current Assets Total
Short Long Term Debt Total	- 0.89	Other Current Liab
Net Tangible Assets	- 0.85	Net Debt
Other Current Liab	- 0.85	Total Current Liabilities
Other Current Liab	- 0.84	Total Liab
Other Liab	- 0.84	Net Receivables