CENT Stock | | | USD 42.30 0.11 0.26% |
Central Garden financial indicator trend analysis is way more than just evaluating Central Garden Pet prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Central Garden Pet is a good investment. Please check the relationship between Central Garden Cash And Short Term Investments and its Non Current Liabilities Total accounts. Check out
Trending Equities to better understand how to build diversified portfolios, which includes a position in Central Garden Pet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
Cash And Short Term Investments vs Non Current Liabilities Total
Cash And Short Term Investments vs Non Current Liabilities Total Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
Central Garden Pet Cash And Short Term Investments account and
Non Current Liabilities Total. At this time, the significance of the direction appears to have strong relationship.
The correlation between Central Garden's Cash And Short Term Investments and Non Current Liabilities Total is 0.71. Overlapping area represents the amount of variation of Cash And Short Term Investments that can explain the historical movement of Non Current Liabilities Total in the same time period over historical financial statements of Central Garden Pet, assuming nothing else is changed. The correlation between historical values of Central Garden's Cash And Short Term Investments and Non Current Liabilities Total is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Cash And Short Term Investments of Central Garden Pet are associated (or correlated) with its Non Current Liabilities Total. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Non Current Liabilities Total has no effect on the direction of Cash And Short Term Investments i.e., Central Garden's Cash And Short Term Investments and Non Current Liabilities Total go up and down completely randomly.
Correlation Coefficient | 0.71 |
Relationship Direction | Positive |
Relationship Strength | Significant |
Cash And Short Term Investments
Short Term Investments is an account in the current assets section of Central Garden Pet balance sheet. This account contains Central Garden investments that will expire within one year. These investments include stocks and bonds that can be liquidated by Central Garden Pet fairly quickly. The sum of a company's cash on hand, including bank deposits and short-term, highly liquid investments that are easily convertible to known amounts of cash.
Non Current Liabilities Total
Most indicators from Central Garden's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Central Garden Pet 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 Central Garden Pet. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in board of governors.
At this time, Central Garden's
Enterprise Value Over EBITDA is comparatively stable compared to the past year.
Enterprise Value Multiple is likely to gain to 7.18 in 2024, whereas
Selling General Administrative is likely to drop slightly above 310.1
M in 2024.
Central Garden fundamental ratios Correlations
Click cells to compare fundamentals
Central Garden Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Central Garden fundamental ratios Accounts
Pair Trading with Central Garden
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 Central Garden 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 Central Garden will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Central Garden could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Central Garden 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 Central Garden - 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 Central Garden Pet to buy it.
The correlation of Central Garden 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 Central Garden moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Central Garden Pet 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 Central Garden 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 MatchingAdditional Tools for Central Stock Analysis
When running Central Garden's price analysis, check to
measure Central Garden'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 Central Garden is operating at the current time. Most of Central Garden's value examination focuses on studying past and present price action to
predict the probability of Central Garden's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Central Garden's price. Additionally, you may evaluate how the addition of Central Garden to your portfolios can decrease your overall portfolio volatility.