| NBY Stock | | | USD 0.49 0.08 14.04% |
NovaBay Pharmaceuticals financial indicator trend analysis is infinitely more than just investigating NovaBay Pharmaceuticals recent accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether NovaBay Pharmaceuticals is a good investment. Please check the relationship between NovaBay Pharmaceuticals Total Current Assets and its Accounts Payable accounts. Check out
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaBay Pharmaceuticals. 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 NovaBay Stock please use our
How to Invest in NovaBay Pharmaceuticals guide.
Total Current Assets vs Accounts Payable
Total Current Assets vs Accounts Payable Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of
NovaBay Pharmaceuticals Total Current Assets account and
Accounts Payable. At this time, the significance of the direction appears to have significant contrarian relationship.
The correlation between NovaBay Pharmaceuticals' Total Current Assets and Accounts Payable is -0.29. Overlapping area represents the amount of variation of Total Current Assets that can explain the historical movement of Accounts Payable in the same time period over historical financial statements of NovaBay Pharmaceuticals, assuming nothing else is changed. The correlation between historical values of NovaBay Pharmaceuticals' Total Current Assets and Accounts Payable 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 NovaBay Pharmaceuticals are associated (or correlated) with its Accounts Payable. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Accounts Payable has no effect on the direction of Total Current Assets i.e., NovaBay Pharmaceuticals' Total Current Assets and Accounts Payable go up and down completely randomly.
Correlation Coefficient | -0.29 |
| Relationship Direction | Negative |
| Relationship Strength | Insignificant |
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.
Accounts Payable
An accounting item on the balance sheet that represents NovaBay Pharmaceuticals obligation to pay off a short-term debt to its creditors. The accounts payable entry is usually reported under current liabilities. If accounts payable of NovaBay Pharmaceuticals are not paid within the agreed terms, the payables are considered to be in default, which may trigger a penalty or interest payment, or the revocation of additional credit from the supplier. Accounts payable may also be considered a source of cash, since they represent funds being borrowed from suppliers. Given these cash flow considerations, suppliers have a natural inclination to push for shorter payment terms, while creditors want to lengthen the payment terms. The amount a company owes to suppliers or vendors for products or services received but not yet paid for. It represents the company's short-term liabilities.
Most indicators from NovaBay Pharmaceuticals' fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into NovaBay Pharmaceuticals 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
Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NovaBay Pharmaceuticals. 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 NovaBay Stock please use our
How to Invest in NovaBay Pharmaceuticals guide.
Selling General Administrative is likely to rise to about 7.5
M in 2024, whereas
Tax Provision is likely to drop 0.00 in 2024.
NovaBay Pharmaceuticals fundamental ratios Correlations
Click cells to compare fundamentals
NovaBay Pharmaceuticals Account Relationship Matchups
High Positive Relationship
High Negative Relationship
NovaBay Pharmaceuticals fundamental ratios Accounts
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.
Additional Tools for NovaBay Stock Analysis
When running NovaBay Pharmaceuticals' price analysis, check to
measure NovaBay Pharmaceuticals' 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 NovaBay Pharmaceuticals is operating at the current time. Most of NovaBay Pharmaceuticals' value examination focuses on studying past and present price action to
predict the probability of NovaBay Pharmaceuticals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NovaBay Pharmaceuticals' price. Additionally, you may evaluate how the addition of NovaBay Pharmaceuticals to your portfolios can decrease your overall portfolio volatility.