Bit Other Current Liab vs Common Stock Analysis
BTBT Stock | USD 2.81 0.01 0.36% |
Bit Digital financial indicator trend analysis is way more than just evaluating Bit Digital prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Bit Digital is a good investment. Please check the relationship between Bit Digital Other Current Liab and its Common Stock accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics. For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.
Other Current Liab vs Common Stock
Other Current Liab vs Common Stock Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Bit Digital Other Current Liab account and Common Stock. At this time, the significance of the direction appears to have almost identical trend.
The correlation between Bit Digital's Other Current Liab and Common Stock is 0.91. Overlapping area represents the amount of variation of Other Current Liab that can explain the historical movement of Common Stock in the same time period over historical financial statements of Bit Digital, assuming nothing else is changed. The correlation between historical values of Bit Digital's Other Current Liab and Common Stock is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Other Current Liab of Bit Digital are associated (or correlated) with its Common Stock. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Common Stock has no effect on the direction of Other Current Liab i.e., Bit Digital's Other Current Liab and Common Stock go up and down completely randomly.
Correlation Coefficient | 0.91 |
Relationship Direction | Positive |
Relationship Strength | Very Strong |
Other Current Liab
Common Stock
Most indicators from Bit Digital's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Bit Digital 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 Bit Digital. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics. For more information on how to buy Bit Stock please use our How to Invest in Bit Digital guide.Discontinued Operations is likely to drop to about (3.6 M) in 2024. Selling General Administrative is likely to drop to about 14.7 M in 2024
2021 | 2022 | 2023 | 2024 (projected) | Interest Expense | 9.4M | 132.6M | 152.5M | 160.1M | Depreciation And Amortization | 13.1M | 27.8M | 14.4M | 8.1M |
Bit Digital fundamental ratios Correlations
Click cells to compare fundamentals
Bit Digital Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Bit Digital fundamental ratios Accounts
2019 | 2020 | 2021 | 2022 | 2023 | 2024 (projected) | ||
Total Assets | 6.6M | 39.9M | 179.9M | 100.4M | 189.3M | 198.8M | |
Other Current Liab | 1.4M | 528.3K | 2.4M | 3.8M | 9.8M | 10.3M | |
Total Current Liabilities | 1.4M | 1.9M | 5.0M | 7.4M | 27.1M | 28.4M | |
Total Stockholder Equity | 4.8M | 38.0M | 171.6M | 89.9M | 152.7M | 160.3M | |
Property Plant And Equipment Net | 683.6K | 31.2M | 75.6M | 23.1M | 91.9M | 96.5M | |
Net Debt | (34.5K) | (68.4K) | (42.4M) | (32.7M) | (12.0M) | (12.6M) | |
Retained Earnings | (11.1M) | (15.7M) | (19.9M) | (131.4M) | (146.9M) | (139.6M) | |
Cash | 34.5K | 405.1K | 42.4M | 32.7M | 18.2M | 13.4M | |
Non Current Assets Total | 4.6M | 31.2M | 83.4M | 36.0M | 107.0M | 112.4M | |
Non Currrent Assets Other | 4.0M | 3.3M | 6.7M | 11.1M | 10.3M | 5.4M | |
Cash And Short Term Investments | 34.5K | 6.7M | 42.4M | 33.3M | 64.8M | 68.0M | |
Net Receivables | 142.3K | 1.9M | 97.8K | 736.4K | 13.9M | 14.5M | |
Common Stock Total Equity | 130K | 149.0K | 154.0K | 480.4K | 552.5K | 580.1K | |
Liabilities And Stockholders Equity | 6.6M | 39.9M | 179.9M | 100.4M | 189.3M | 198.8M | |
Other Current Assets | 529.6K | 12.8K | 51.1M | 27.9M | 3.7M | 3.5M | |
Total Liab | 1.5M | 1.9M | 8.3M | 10.5M | 36.6M | 38.5M | |
Property Plant And Equipment Gross | 683.6K | 31.2M | 82.2M | 32.2M | 112.6M | 118.2M | |
Total Current Assets | 1.9M | 8.7M | 96.6M | 64.4M | 82.3M | 86.4M | |
Accumulated Other Comprehensive Income | 336.9K | (27.8K) | (102.8K) | 0.0 | (1.1M) | (1.0M) | |
Net Tangible Assets | 11.6M | 3.8M | 38.0M | 162.6M | 187.0M | 196.3M | |
Other Assets | 6.8M | 4.0M | 1.3M | 49.9M | 57.3M | 60.2M | |
Common Stock Shares Outstanding | 15.2M | 30.6M | 55.4M | 78.6M | 87.5M | 91.9M | |
Property Plant Equipment | 83.5K | 723.8K | 29.8M | 32.5M | 37.4M | 39.2M | |
Net Invested Capital | 3.8M | 38.0M | 162.6M | 80.9M | 143.7M | 150.8M | |
Net Working Capital | 130.7K | 6.8M | 91.5M | 57.0M | 56.3M | 35.6M | |
Capital Stock | 154.0K | 480.4K | 9.7M | 9.9M | 10.1M | 5.6M |
Pair Trading with Bit Digital
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 Bit Digital 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 Bit Digital will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Bit Digital could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bit Digital 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 Bit Digital - 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 Bit Digital to buy it.
The correlation of Bit Digital 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 Bit Digital moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bit Digital 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 Bit Digital 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 Bit Stock Analysis
When running Bit Digital's price analysis, check to measure Bit Digital'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 Bit Digital is operating at the current time. Most of Bit Digital's value examination focuses on studying past and present price action to predict the probability of Bit Digital's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bit Digital's price. Additionally, you may evaluate how the addition of Bit Digital to your portfolios can decrease your overall portfolio volatility.