Steelcase Other Liab vs Intangible Assets Analysis
| SCS Stock | USD 12.53 0.19 1.49% |
Steelcase financial indicator trend analysis is much more than just breaking down Steelcase prevalent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Steelcase is a good investment. Please check the relationship between Steelcase Other Liab and its Intangible Assets accounts. Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Steelcase. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. For more information on how to buy Steelcase Stock please use our How to Invest in Steelcase guide.
Other Liab vs Intangible Assets
Other Liab vs Intangible Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Steelcase Other Liab account and Intangible Assets. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between Steelcase's Other Liab and Intangible Assets is -0.43. Overlapping area represents the amount of variation of Other Liab that can explain the historical movement of Intangible Assets in the same time period over historical financial statements of Steelcase, assuming nothing else is changed. The correlation between historical values of Steelcase's Other Liab and Intangible 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 Other Liab of Steelcase are associated (or correlated) with its Intangible Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Intangible Assets has no effect on the direction of Other Liab i.e., Steelcase's Other Liab and Intangible Assets go up and down completely randomly.
Correlation Coefficient | -0.43 |
| Relationship Direction | Negative |
| Relationship Strength | Very Weak |
Other Liab
Intangible Assets
Non-physical assets possessed by a company, such as patents, trademarks, and copyrights, which provide long-term value.Most indicators from Steelcase's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Steelcase 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 World Market Map to better understand how to build diversified portfolios, which includes a position in Steelcase. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. For more information on how to buy Steelcase Stock please use our How to Invest in Steelcase guide.At this time, Steelcase's Sales General And Administrative To Revenue is comparatively stable compared to the past year. Enterprise Value is likely to gain to about 2.8 B in 2024, whereas Selling General Administrative is likely to drop slightly above 570 K in 2024.
| 2021 | 2022 | 2023 | 2024 (projected) | Gross Profit | 761.5M | 919.4M | 1.0B | 759.3M | Total Revenue | 2.8B | 3.2B | 3.2B | 3.3B |
Steelcase fundamental ratios Correlations
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Steelcase Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Steelcase
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 Steelcase 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 Steelcase will appreciate offsetting losses from the drop in the long position's value.Moving against Steelcase Stock
| 0.63 | VCIG | VCI Global Limited | PairCorr |
| 0.54 | LZ | LegalZoom | PairCorr |
| 0.47 | FC | Franklin Covey Financial Report 26th of June 2024 | PairCorr |
| 0.34 | MG | Mistras Group | PairCorr |
The ability to find closely correlated positions to Steelcase could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Steelcase 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 Steelcase - 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 Steelcase to buy it.
The correlation of Steelcase 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 Steelcase moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Steelcase 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 Steelcase 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 Steelcase Stock Analysis
When running Steelcase's price analysis, check to measure Steelcase'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 Steelcase is operating at the current time. Most of Steelcase's value examination focuses on studying past and present price action to predict the probability of Steelcase's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Steelcase's price. Additionally, you may evaluate how the addition of Steelcase to your portfolios can decrease your overall portfolio volatility.