California Cash And Short Term Investments vs Total Current Assets Analysis

CWT Stock

USD 49.62 0.35 0.70%

California Water financial indicator trend analysis is way more than just evaluating California Water Service prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether California Water Service is a good investment. Please check the relationship between California Water Cash And Short Term Investments and its Total Current Assets accounts. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in California Water Service. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Cash And Short Term Investments vs Total Current Assets

Cash And Short Term Investments vs Total Current Assets Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of California Water Service Cash And Short Term Investments account and Total Current Assets. At this time, the significance of the direction appears to have very strong relationship.

The correlation between California Water's Cash And Short Term Investments and Total Current Assets is 0.87. Overlapping area represents the amount of variation of Cash And Short Term Investments that can explain the historical movement of Total Current Assets in the same time period over historical financial statements of California Water Service, assuming nothing else is changed. The correlation between historical values of California Water's Cash And Short Term Investments and Total Current Assets 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 California Water Service are associated (or correlated) with its Total Current Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Current Assets has no effect on the direction of Cash And Short Term Investments i.e., California Water's Cash And Short Term Investments and Total Current Assets go up and down completely randomly.

Correlation Coefficient

0.87

Relationship Direction	Positive
Relationship Strength	Strong

View All Relationships

Cash And Short Term Investments

Short Term Investments is an account in the current assets section of California Water Service balance sheet. This account contains California Water investments that will expire within one year. These investments include stocks and bonds that can be liquidated by California Water Service 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.

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.

Most indicators from California Water's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into California Water Service 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 California Water Service. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

At this time, California Water's Enterprise Value Over EBITDA is comparatively stable compared to the past year. Enterprise Value Multiple is likely to gain to 23.35 in 2024, whereas Selling General Administrative is likely to drop slightly above 24.7 K in 2024.

	2021	2022	2023	2024 (projected)
Gross Profit	483.8M	529.5M	240.5M	282.0M
Total Revenue	790.9M	846.4M	794.6M	412.7M

Gross Profit Total Revenue

California Water fundamental ratios Correlations

	Common Stock Shares Outstanding	Total Assets	Short Long Term Debt Total	Other Current Liab	Total Current Liabilities	Total Stockholder Equity	Property Plant And Equipment Net	Current Deferred Revenue	Net Debt	Retained Earnings	Accounts Payable	Cash	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity	Non Current Liabilities Total	Inventory	Other Current Assets	Other Stockholder Equity	Total Liab	Property Plant And Equipment Gross	Total Current Assets	Short Term Debt	Common Stock
Common Stock Shares Outstanding		0.63	0.62	0.44	0.49	0.6	0.6	-0.03	0.62	0.86	0.61	0.46	0.62	0.31	0.46	0.57	-0.82	0.65	0.44	0.53	0.46	0.63	0.54	0.65	0.3	-0.82
Total Assets	0.63		0.97	0.85	0.74	0.98	1.0	-0.38	0.96	0.75	0.98	0.81	1.0	0.76	0.81	0.99	-0.56	0.99	0.94	0.35	0.0	0.99	0.96	0.95	0.45	-0.56
Short Long Term Debt Total	0.62	0.97		0.92	0.81	0.93	0.97	-0.52	1.0	0.8	0.98	0.81	0.97	0.81	0.81	0.93	-0.53	0.95	0.86	0.48	-0.09	0.97	0.91	0.96	0.56	-0.53
Other Current Liab	0.44	0.85	0.92		0.81	0.82	0.85	-0.68	0.91	0.75	0.91	0.83	0.84	0.76	0.83	0.81	-0.25	0.79	0.76	0.49	-0.23	0.84	0.82	0.9	0.6	-0.25
Total Current Liabilities	0.49	0.74	0.81	0.81		0.62	0.72	-0.3	0.8	0.59	0.75	0.73	0.73	0.63	0.73	0.68	-0.49	0.69	0.58	0.47	0.02	0.78	0.56	0.76	0.93	-0.49
Total Stockholder Equity	0.6	0.98	0.93	0.82	0.62		0.98	-0.4	0.92	0.75	0.97	0.78	0.97	0.72	0.78	0.98	-0.47	0.96	0.96	0.37	-0.04	0.95	0.99	0.94	0.29	-0.47
Property Plant And Equipment Net	0.6	1.0	0.97	0.85	0.72	0.98		-0.42	0.96	0.74	0.98	0.81	1.0	0.77	0.81	0.99	-0.52	0.99	0.95	0.34	-0.03	0.99	0.96	0.94	0.43	-0.52
Current Deferred Revenue	-0.03	-0.38	-0.52	-0.68	-0.3	-0.4	-0.42		-0.53	-0.48	-0.51	-0.27	-0.38	-0.6	-0.27	-0.35	-0.28	-0.33	-0.35	-0.29	0.57	-0.36	-0.44	-0.39	-0.21	-0.28
Net Debt	0.62	0.96	1.0	0.91	0.8	0.92	0.96	-0.53		0.81	0.98	0.78	0.96	0.81	0.78	0.93	-0.54	0.95	0.86	0.5	-0.11	0.97	0.9	0.95	0.55	-0.53
Retained Earnings	0.86	0.75	0.8	0.75	0.59	0.75	0.74	-0.48	0.81		0.8	0.6	0.74	0.56	0.6	0.68	-0.54	0.73	0.59	0.65	0.07	0.73	0.73	0.81	0.36	-0.54
Accounts Payable	0.61	0.98	0.98	0.91	0.75	0.97	0.98	-0.51	0.98	0.8		0.81	0.98	0.8	0.81	0.96	-0.48	0.95	0.9	0.46	-0.09	0.97	0.95	0.97	0.47	-0.48
Cash	0.46	0.81	0.81	0.83	0.73	0.78	0.81	-0.27	0.78	0.6	0.81		0.81	0.57	1.0	0.81	-0.42	0.79	0.74	0.23	0.08	0.82	0.79	0.87	0.5	-0.42
Non Current Assets Total	0.62	1.0	0.97	0.84	0.73	0.97	1.0	-0.38	0.96	0.74	0.98	0.81		0.77	0.81	0.99	-0.56	0.99	0.94	0.34	0.0	0.99	0.95	0.94	0.45	-0.56
Non Currrent Assets Other	0.31	0.76	0.81	0.76	0.63	0.72	0.77	-0.6	0.81	0.56	0.8	0.57	0.77		0.57	0.76	-0.22	0.75	0.71	0.33	-0.51	0.77	0.72	0.71	0.45	-0.22
Cash And Short Term Investments	0.46	0.81	0.81	0.83	0.73	0.78	0.81	-0.27	0.78	0.6	0.81	1.0	0.81	0.57		0.81	-0.42	0.79	0.74	0.23	0.08	0.82	0.79	0.87	0.5	-0.42
Net Receivables	0.57	0.99	0.93	0.81	0.68	0.98	0.99	-0.35	0.93	0.68	0.96	0.81	0.99	0.76	0.81		-0.51	0.98	0.97	0.28	-0.03	0.97	0.97	0.93	0.37	-0.51
Common Stock Total Equity	-0.82	-0.56	-0.53	-0.25	-0.49	-0.47	-0.52	-0.28	-0.54	-0.54	-0.48	-0.42	-0.56	-0.22	-0.42	-0.51		-0.62	-0.36	-0.4	-0.55	-0.59	-0.4	-0.55	-0.35	1.0
Non Current Liabilities Total	0.65	0.99	0.95	0.79	0.69	0.96	0.99	-0.33	0.95	0.73	0.95	0.79	0.99	0.75	0.79	0.98	-0.62		0.93	0.31	0.05	0.99	0.94	0.92	0.41	-0.61
Inventory	0.44	0.94	0.86	0.76	0.58	0.96	0.95	-0.35	0.86	0.59	0.9	0.74	0.94	0.71	0.74	0.97	-0.36	0.93		0.14	-0.12	0.92	0.96	0.85	0.28	-0.36
Other Current Assets	0.53	0.35	0.48	0.49	0.47	0.37	0.34	-0.29	0.5	0.65	0.46	0.23	0.34	0.33	0.23	0.28	-0.4	0.31	0.14		-0.04	0.34	0.31	0.55	0.38	-0.4
Other Stockholder Equity	0.46	0.0	-0.09	-0.23	0.02	-0.04	-0.03	0.57	-0.11	0.07	-0.09	0.08	0.0	-0.51	0.08	-0.03	-0.55	0.05	-0.12	-0.04		0.02	-0.1	-0.01	0.01	-0.55
Total Liab	0.63	0.99	0.97	0.84	0.78	0.95	0.99	-0.36	0.97	0.73	0.97	0.82	0.99	0.77	0.82	0.97	-0.59	0.99	0.92	0.34	0.02		0.92	0.93	0.52	-0.59
Property Plant And Equipment Gross	0.54	0.96	0.91	0.82	0.56	0.99	0.96	-0.44	0.9	0.73	0.95	0.79	0.95	0.72	0.79	0.97	-0.4	0.94	0.96	0.31	-0.1	0.92		0.93	0.23	-0.4
Total Current Assets	0.65	0.95	0.96	0.9	0.76	0.94	0.94	-0.39	0.95	0.81	0.97	0.87	0.94	0.71	0.87	0.93	-0.55	0.92	0.85	0.55	-0.01	0.93	0.93		0.48	-0.54
Short Term Debt	0.3	0.45	0.56	0.6	0.93	0.29	0.43	-0.21	0.55	0.36	0.47	0.5	0.45	0.45	0.5	0.37	-0.35	0.41	0.28	0.38	0.01	0.52	0.23	0.48		-0.35
Common Stock	-0.82	-0.56	-0.53	-0.25	-0.49	-0.47	-0.52	-0.28	-0.53	-0.54	-0.48	-0.42	-0.56	-0.22	-0.42	-0.51	1.0	-0.61	-0.36	-0.4	-0.55	-0.59	-0.4	-0.54	-0.35

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California Water Account Relationship Matchups

California Water fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Common Stock Shares Outstanding	48.2M	49.3M	51.6M	54.4M	57.0M	39.2M
Total Assets	3.1B	3.4B	3.6B	3.9B	4.7B	4.9B
Short Long Term Debt Total	983.7M	1.2B	1.1B	1.1B	1.2B	1.3B
Other Current Liab	51.3M	79.7M	68.1M	72.2M	74.9M	78.7M
Total Current Liabilities	358.7M	588.7M	256.6M	294.7M	430.3M	451.9M
Total Stockholder Equity	779.9M	921.3M	1.2B	1.3B	1.4B	1.5B
Property Plant And Equipment Net	2.4B	2.7B	2.8B	3.1B	3.8B	4.0B
Current Deferred Revenue	2.0M	2.2M	3.9M	8.1M	13.5M	23.4M
Net Debt	941.1M	1.1B	1.0B	1.1B	1.2B	1.2B
Retained Earnings	417.1M	472.2M	525.9M	556.7M	549.6M	275.3M
Accounts Payable	108.5M	131.7M	144.4M	141.0M	160.3M	168.3M
Cash	42.7M	44.6M	78.4M	62.1M	85.0M	89.2M
Non Current Assets Total	2.9B	3.1B	3.3B	3.6B	4.4B	4.6B
Non Currrent Assets Other	517.6M	445.8M	439.1M	129.3M	475.6M	499.3M
Cash And Short Term Investments	42.7M	44.6M	78.4M	62.1M	85.0M	89.2M
Net Receivables	96.1M	116.4M	134.0M	131.1M	177.0M	185.9M
Common Stock Total Equity	485K	503K	537K	556K	500.4K	475.4K
Liabilities And Stockholders Equity	3.1B	3.4B	3.6B	3.9B	4.7B	4.9B
Non Current Liabilities Total	2.0B	1.9B	2.2B	2.2B	2.8B	3.0B
Inventory	7.7M	8.8M	9.5M	12.6M	16.2M	17.0M
Other Current Assets	38.2M	96.2M	78.6M	66.8M	18.1M	25.2M
Other Stockholder Equity	362.3M	448.6M	651.1M	760.3M	876.6M	609.2M
Total Liab	2.3B	2.5B	2.4B	2.5B	3.3B	3.4B
Property Plant And Equipment Gross	2.4B	2.6B	4.2B	4.5B	4.9B	5.1B
Total Current Assets	184.7M	266.0M	300.5M	295.5M	296.3M	311.1M
Short Term Debt	197.0M	375.1M	40.2M	73.3M	181.6M	190.7M
Common Stock	485K	503K	537K	556K	577K	548.2K
Other Liab	1.2B	1.1B	1.1B	1.2B	1.3B	715.1M
Other Assets	503.2M	3.1B	439.1M	444.8M	511.5M	408.5M
Long Term Debt	786.8M	781.1M	1.1B	1.1B	1.1B	1.1B
Property Plant Equipment	2.4B	2.7B	2.8B	261.8M	301.0M	286.0M
Intangible Assets	24.9M	27.6M	30.0M	27.8M	20.7M	17.1M
Net Tangible Assets	968.4M	1.1B	1.1B	1.5B	1.7B	1.0B
Retained Earnings Total Equity	417.1M	472.2M	525.9M	556.7M	640.2M	365.8M
Long Term Debt Total	786.8M	781.1M	1.1B	1.1B	1.2B	648.2M
Capital Surpluse	362.3M	448.6M	651.1M	760.3M	874.4M	918.1M
Deferred Long Term Liab	224.2M	276.0M	285.7M	330.3M	379.8M	259.1M
Non Current Liabilities Other	770.7M	631.4M	630.9M	651.1M	363.3M	598.2M

Pair Trading with California Water

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 California Water 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 California Water will appreciate offsetting losses from the drop in the long position's value.

Moving together with California Stock

0.94	WTRG	Essential Utilities	Pair Corr
0.96	AWK	American Water Works	Pair Corr
0.93	AWR	American States Water	Pair Corr

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

The correlation of California Water 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 California Water moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if California Water Service 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 California Water 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 California Stock Analysis

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

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