Envirotech Total Current Assets vs Asset Turnover Analysis

EVTV Stock

USD 1.73 0.03 1.70%

Envirotech Vehicles financial indicator trend analysis is much more than just examining Envirotech Vehicles latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Envirotech Vehicles is a good investment. Please check the relationship between Envirotech Vehicles Total Current Assets and its Asset Turnover accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Envirotech Vehicles. 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.

For more information on how to buy Envirotech Stock please use our How to Invest in Envirotech Vehicles guide.

Total Current Assets vs Asset Turnover

Total Current Assets vs Asset Turnover Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Envirotech Vehicles Total Current Assets account and Asset Turnover. At this time, the significance of the direction appears to have weak contrarian relationship.

The correlation between Envirotech Vehicles' Total Current Assets and Asset Turnover is -0.01. Overlapping area represents the amount of variation of Total Current Assets that can explain the historical movement of Asset Turnover in the same time period over historical financial statements of Envirotech Vehicles, assuming nothing else is changed. The correlation between historical values of Envirotech Vehicles' Total Current Assets and Asset Turnover 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 Envirotech Vehicles are associated (or correlated) with its Asset Turnover. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Asset Turnover has no effect on the direction of Total Current Assets i.e., Envirotech Vehicles' Total Current Assets and Asset Turnover go up and down completely randomly.

Correlation Coefficient

-0.01

Relationship Direction	Negative
Relationship Strength	Insignificant

View All Relationships

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.

Asset Turnover

The ratio of net sales to average total assets, indicating how efficiently a company uses its assets to generate sales.

Most indicators from Envirotech Vehicles' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Envirotech Vehicles 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 Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Envirotech Vehicles. 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.

For more information on how to buy Envirotech Stock please use our How to Invest in Envirotech Vehicles guide.Sales General And Administrative To Revenue is likely to climb to 5.64 in 2024, whereas Selling General Administrative is likely to drop slightly above 6.9 M in 2024.

	2021	2022	2023	2024 (projected)
Gross Profit	761.4K	1.7M	2.0M	2.1M
Total Revenue	2.0M	4.5M	4.1M	5.3M

Gross Profit Total Revenue

Envirotech Vehicles fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Other Current Liab	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	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Total Current Assets	Short Term Debt	Common Stock	Short Term Investments	Current Deferred Revenue	Net Tangible Assets
Total Assets		-0.52	0.43	-0.42	1.0	-0.28	-0.89	0.18	0.51	0.54	0.98	-0.57	0.84	0.61	-0.64	-0.8	0.66	0.64	0.7	-0.48	0.93	-0.53	0.44	0.46	-0.88	0.92
Short Long Term Debt Total	-0.52		-0.52	0.9	-0.56	-0.09	0.74	-0.34	-0.34	0.33	-0.52	0.84	-0.14	-0.4	0.34	0.53	-0.55	-0.12	-0.58	0.92	-0.45	1.0	0.14	0.05	0.65	-0.64
Other Current Liab	0.43	-0.52		-0.41	0.44	-0.06	-0.46	-0.47	0.76	-0.07	0.3	-0.84	0.25	0.73	-0.61	-0.76	0.81	-0.39	0.68	-0.46	0.65	-0.53	-0.56	-0.37	-0.79	0.74
Total Current Liabilities	-0.42	0.9	-0.41		-0.47	-0.46	0.68	-0.22	-0.08	0.28	-0.44	0.72	-0.01	-0.53	0.01	0.26	-0.47	-0.04	-0.3	1.0	-0.35	0.9	0.03	-0.15	0.53	-0.54
Total Stockholder Equity	1.0	-0.56	0.44	-0.47		-0.25	-0.91	0.2	0.5	0.51	0.98	-0.6	0.82	0.63	-0.62	-0.79	0.67	0.63	0.7	-0.53	0.92	-0.56	0.43	0.46	-0.89	0.93
Property Plant And Equipment Net	-0.28	-0.09	-0.06	-0.46	-0.25		0.18	-0.08	-0.59	-0.37	-0.23	-0.08	-0.58	0.2	0.58	0.52	-0.14	-0.36	-0.54	-0.4	-0.35	-0.09	-0.03	0.17	0.19	-0.18
Net Debt	-0.89	0.74	-0.46	0.68	-0.91	0.18		-0.16	-0.42	-0.39	-0.87	0.62	-0.73	-0.62	0.4	0.69	-0.65	-0.53	-0.61	0.72	-0.83	0.75	-0.34	-0.45	0.83	-0.85
Retained Earnings	0.18	-0.34	-0.47	-0.22	0.2	-0.08	-0.16		-0.24	-0.25	0.33	-0.04	-0.05	-0.47	-0.12	0.02	-0.19	0.62	0.12	-0.22	-0.13	-0.34	0.42	0.17	0.07	-0.02
Accounts Payable	0.51	-0.34	0.76	-0.08	0.5	-0.59	-0.42	-0.24		0.13	0.36	-0.58	0.46	0.53	-0.82	-0.87	0.76	-0.09	0.91	-0.16	0.74	-0.34	-0.43	-0.44	-0.7	0.69
Cash	0.54	0.33	-0.07	0.28	0.51	-0.37	-0.39	-0.25	0.13		0.51	0.28	0.84	0.32	-0.11	-0.25	0.15	0.58	0.06	0.25	0.55	0.32	0.66	0.7	-0.28	0.32
Non Current Assets Total	0.98	-0.52	0.3	-0.44	0.98	-0.23	-0.87	0.33	0.36	0.51		-0.52	0.8	0.5	-0.57	-0.72	0.55	0.74	0.61	-0.49	0.84	-0.53	0.55	0.55	-0.81	0.86
Non Currrent Assets Other	-0.57	0.84	-0.84	0.72	-0.6	-0.08	0.62	-0.04	-0.58	0.28	-0.52		-0.16	-0.61	0.63	0.75	-0.78	0.12	-0.72	0.76	-0.61	0.84	0.36	0.24	0.84	-0.81
Cash And Short Term Investments	0.84	-0.14	0.25	-0.01	0.82	-0.58	-0.73	-0.05	0.46	0.84	0.8	-0.16		0.43	-0.49	-0.66	0.42	0.68	0.52	-0.07	0.83	-0.14	0.53	0.54	-0.64	0.68
Net Receivables	0.61	-0.4	0.73	-0.53	0.63	0.2	-0.62	-0.47	0.53	0.32	0.5	-0.61	0.43		-0.29	-0.55	0.79	-0.1	0.47	-0.57	0.78	-0.41	-0.08	0.16	-0.77	0.77
Common Stock Shares Outstanding	-0.64	0.34	-0.61	0.01	-0.62	0.58	0.4	-0.12	-0.82	-0.11	-0.57	0.63	-0.49	-0.29		0.92	-0.66	-0.19	-0.89	0.09	-0.69	0.34	0.18	0.3	0.74	-0.73
Non Current Liabilities Total	-0.8	0.53	-0.76	0.26	-0.79	0.52	0.69	0.02	-0.87	-0.25	-0.72	0.75	-0.66	-0.55	0.92		-0.81	-0.22	-0.94	0.34	-0.88	0.53	0.12	0.12	0.91	-0.9
Inventory	0.66	-0.55	0.81	-0.47	0.67	-0.14	-0.65	-0.19	0.76	0.15	0.55	-0.78	0.42	0.79	-0.66	-0.81		-0.05	0.74	-0.53	0.8	-0.56	-0.25	-0.12	-0.89	0.85
Other Current Assets	0.64	-0.12	-0.39	-0.04	0.63	-0.36	-0.53	0.62	-0.09	0.58	0.74	0.12	0.68	-0.1	-0.19	-0.22	-0.05		0.18	-0.06	0.38	-0.12	0.89	0.73	-0.22	0.3
Other Stockholder Equity	0.7	-0.58	0.68	-0.3	0.7	-0.54	-0.61	0.12	0.91	0.06	0.61	-0.72	0.52	0.47	-0.89	-0.94	0.74	0.18		-0.38	0.79	-0.59	-0.22	-0.29	-0.8	0.81
Total Liab	-0.48	0.92	-0.46	1.0	-0.53	-0.4	0.72	-0.22	-0.16	0.25	-0.49	0.76	-0.07	-0.57	0.09	0.34	-0.53	-0.06	-0.38		-0.42	0.92	0.03	-0.14	0.59	-0.6
Total Current Assets	0.93	-0.45	0.65	-0.35	0.92	-0.35	-0.83	-0.13	0.74	0.55	0.84	-0.61	0.83	0.78	-0.69	-0.88	0.8	0.38	0.79	-0.42		-0.46	0.17	0.25	-0.92	0.95
Short Term Debt	-0.53	1.0	-0.53	0.9	-0.56	-0.09	0.75	-0.34	-0.34	0.32	-0.53	0.84	-0.14	-0.41	0.34	0.53	-0.56	-0.12	-0.59	0.92	-0.46		0.13	0.04	0.65	-0.65
Common Stock	0.44	0.14	-0.56	0.03	0.43	-0.03	-0.34	0.42	-0.43	0.66	0.55	0.36	0.53	-0.08	0.18	0.12	-0.25	0.89	-0.22	0.03	0.17	0.13		0.93	0.0	0.08
Short Term Investments	0.46	0.05	-0.37	-0.15	0.46	0.17	-0.45	0.17	-0.44	0.7	0.55	0.24	0.54	0.16	0.3	0.12	-0.12	0.73	-0.29	-0.14	0.25	0.04	0.93		-0.11	0.17
Current Deferred Revenue	-0.88	0.65	-0.79	0.53	-0.89	0.19	0.83	0.07	-0.7	-0.28	-0.81	0.84	-0.64	-0.77	0.74	0.91	-0.89	-0.22	-0.8	0.59	-0.92	0.65	0.0	-0.11		-0.99
Net Tangible Assets	0.92	-0.64	0.74	-0.54	0.93	-0.18	-0.85	-0.02	0.69	0.32	0.86	-0.81	0.68	0.77	-0.73	-0.9	0.85	0.3	0.81	-0.6	0.95	-0.65	0.08	0.17	-0.99

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Envirotech Vehicles Account Relationship Matchups

Envirotech Vehicles fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	10.3M	2.4M	75.3M	33.5M	38.5M	26.9M
Short Long Term Debt Total	5.8M	152.8K	45.0K	232.4K	209.2K	198.7K
Other Current Liab	649.0K	2.4M	1.3M	652.5B	750.4B	787.9B
Total Current Liabilities	6.9M	2.7M	1.6M	1.5M	1.3M	2.3M
Total Stockholder Equity	3.3M	(472.2K)	73.7M	32.0M	36.8M	23.6M
Property Plant And Equipment Net	112K	227.6K	272.1K	368.5K	423.7K	312.0K
Net Debt	1.4M	16.6K	(4.8M)	(2.5M)	(2.3M)	(2.2M)
Retained Earnings	(59.2M)	(472.3K)	(8.1M)	(51.9M)	(59.7M)	(62.7M)
Accounts Payable	418K	345.4K	238.5K	603.7K	694.3K	405.6K
Cash	4.4M	136.2K	4.8M	2.8M	2.5M	2.4M
Non Current Assets Total	681K	469.6K	52.3M	15.1M	17.4M	13.4M
Non Currrent Assets Other	569K	242.0K	236.6K	93.4K	84.0K	79.8K
Cash And Short Term Investments	7.2M	136.2K	12.8M	5.1M	5.9M	6.5M
Net Receivables	701K	9K	1.4M	2.1M	2.4M	1.3M
Common Stock Shares Outstanding	3.6M	0.05	11.5M	15.0M	15.0M	14.2M
Liabilities And Stockholders Equity	10.3M	2.4M	75.3M	33.5M	38.5M	25.2M
Non Current Liabilities Total	148K	152.8K	15.7K	16.7K	15.0K	14.3K
Other Current Assets	1.2M	1.1M	4.9M	216.9K	156.5K	148.6K
Other Stockholder Equity	61.6M	62.5M	81.9M	83.9M	96.5M	73.7M
Total Liab	7.0M	2.9M	1.6M	1.5M	1.3M	2.4M
Total Current Assets	9.6M	1.9M	23.0M	18.3M	21.1M	13.5M
Short Term Debt	5.8M	204K	31.8K	215.8K	194.2K	184.5K
Short Term Investments	2.8M	0.0	8.0M	2.3M	2.1M	2.6M

Pair Trading with Envirotech Vehicles

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 Envirotech Vehicles 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 Envirotech Vehicles will appreciate offsetting losses from the drop in the long position's value.

Moving together with Envirotech Stock

0.72	F	Ford Motor	Pair Corr
0.82	LI	Li Auto	Pair Corr

Moving against Envirotech Stock

0.69	FFIE	Faraday Future Intel Earnings Call Today	Pair Corr
0.39	GM	General Motors	Pair Corr

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

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

Additional Tools for Envirotech Stock Analysis

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

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