Covenant Logistics' market value is the price at which a share of Covenant Logistics trades on a public exchange. It measures the collective expectations of Covenant Logistics Group investors about its performance. Covenant Logistics is trading at 26.00 as of the 2nd of January 2025. This is a 1.89 percent decrease since the beginning of the trading day. The stock's lowest day price was 26.0. With this module, you can estimate the performance of a buy and hold strategy of Covenant Logistics Group and determine expected loss or profit from investing in Covenant Logistics over a given investment horizon. Check out Covenant Logistics Correlation, Covenant Logistics Volatility and Covenant Logistics Alpha and Beta module to complement your research on Covenant Logistics.
Please note, there is a significant difference between Covenant Logistics' value and its price as these two are different measures arrived at by different means. Investors typically determine if Covenant Logistics is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Covenant Logistics' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Covenant Logistics 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Covenant Logistics' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Covenant Logistics.
0.00
12/03/2024
No Change 0.00
0.0
In 31 days
01/02/2025
0.00
If you would invest 0.00 in Covenant Logistics on December 3, 2024 and sell it all today you would earn a total of 0.00 from holding Covenant Logistics Group or generate 0.0% return on investment in Covenant Logistics over 30 days. Covenant Logistics is related to or competes with Fukuyama Transporting, NMI Holdings, SIVERS SEMICONDUCTORS, Talanx AG, NorAm Drilling, Norsk Hydro, and Volkswagen. Covenant Logistics Group, Inc., together with its subsidiaries, provides transportation and logistics services in the Un... More
Covenant Logistics Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Covenant Logistics' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Covenant Logistics Group upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for Covenant Logistics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Covenant Logistics' standard deviation. In reality, there are many statistical measures that can use Covenant Logistics historical prices to predict the future Covenant Logistics' volatility.
Covenant Logistics secures Sharpe Ratio (or Efficiency) of -0.0889, which signifies that the company had a -0.0889% return per unit of risk over the last 3 months. Covenant Logistics Group exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Covenant Logistics' Standard Deviation of 6.37, mean deviation of 2.23, and Risk Adjusted Performance of (0.07) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.6, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Covenant Logistics' returns are expected to increase less than the market. However, during the bear market, the loss of holding Covenant Logistics is expected to be smaller as well. At this point, Covenant Logistics has a negative expected return of -0.59%. Please make sure to confirm Covenant Logistics' skewness, daily balance of power, and the relationship between the potential upside and kurtosis , to decide if Covenant Logistics performance from the past will be repeated at some point in the near future.
Auto-correlation
0.20
Weak predictability
Covenant Logistics Group has weak predictability. Overlapping area represents the amount of predictability between Covenant Logistics time series from 3rd of December 2024 to 18th of December 2024 and 18th of December 2024 to 2nd of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Covenant Logistics price movement. The serial correlation of 0.2 indicates that over 20.0% of current Covenant Logistics price fluctuation can be explain by its past prices.
Correlation Coefficient
0.2
Spearman Rank Test
0.21
Residual Average
0.0
Price Variance
166.96
Covenant Logistics lagged returns against current returns
Autocorrelation, which is Covenant Logistics stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Covenant Logistics' stock expected returns. We can calculate the autocorrelation of Covenant Logistics returns to help us make a trade decision. For example, suppose you find that Covenant Logistics has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values
Timeline
Covenant Logistics regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Covenant Logistics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Covenant Logistics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Covenant Logistics stock over time.
Current vs Lagged Prices
Timeline
Covenant Logistics Lagged Returns
When evaluating Covenant Logistics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Covenant Logistics stock have on its future price. Covenant Logistics autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Covenant Logistics autocorrelation shows the relationship between Covenant Logistics stock current value and its past values and can show if there is a momentum factor associated with investing in Covenant Logistics Group.
Covenant Logistics financial ratios help investors to determine whether Covenant Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Covenant with respect to the benefits of owning Covenant Logistics security.