Cvs Health Cdr Stock Market Value
| CVS Stock | 14.94 0.27 1.84% |
| Symbol | CVS |
CVS HEALTH '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 CVS HEALTH's 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 CVS HEALTH.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in CVS HEALTH on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding CVS HEALTH CDR or generate 0.0% return on investment in CVS HEALTH over 30 days. CVS HEALTH is related to or competes with Monument Mining, Vizsla Silver, Verizon Communications, Canlan Ice, Rogers Communications, ISign Media, and Lion One. CVS HEALTH is entity of Canada. It is traded as Stock on NEO exchange. More
CVS HEALTH 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 CVS HEALTH's 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 CVS HEALTH CDR upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.46 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 18.33 | |||
| Value At Risk | (3.08) | |||
| Potential Upside | 3.6 |
CVS HEALTH Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CVS HEALTH's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CVS HEALTH's standard deviation. In reality, there are many statistical measures that can use CVS HEALTH historical prices to predict the future CVS HEALTH's volatility.| Risk Adjusted Performance | 0.0292 | |||
| Jensen Alpha | (0.11) | |||
| Total Risk Alpha | (0.31) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0422 |
CVS HEALTH CDR Backtested Returns
As of now, CVS Stock is not too volatile. CVS HEALTH CDR secures Sharpe Ratio (or Efficiency) of 0.0468, which signifies that the company had a 0.0468% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for CVS HEALTH CDR, which you can use to evaluate the volatility of the firm. Please confirm CVS HEALTH's risk adjusted performance of 0.0292, and Mean Deviation of 1.68 to double-check if the risk estimate we provide is consistent with the expected return of 0.12%. CVS HEALTH has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.47, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, CVS HEALTH will likely underperform. CVS HEALTH CDR currently shows a risk of 2.54%. Please confirm CVS HEALTH CDR expected short fall, day median price, and the relationship between the potential upside and accumulation distribution , to decide if CVS HEALTH CDR will be following its price patterns.
Auto-correlation | -0.24 |
Weak reverse predictability
CVS HEALTH CDR has weak reverse predictability. Overlapping area represents the amount of predictability between CVS HEALTH time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of CVS HEALTH CDR price movement. The serial correlation of -0.24 indicates that over 24.0% of current CVS HEALTH price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.24 | |
| Spearman Rank Test | -0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.3 |
CVS HEALTH CDR lagged returns against current returns
Autocorrelation, which is CVS HEALTH 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 CVS HEALTH's stock expected returns. We can calculate the autocorrelation of CVS HEALTH returns to help us make a trade decision. For example, suppose you find that CVS HEALTH 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 |
CVS HEALTH 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 CVS HEALTH stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CVS HEALTH stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CVS HEALTH stock over time.
Current vs Lagged Prices |
| Timeline |
CVS HEALTH Lagged Returns
When evaluating CVS HEALTH's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CVS HEALTH stock have on its future price. CVS HEALTH 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, CVS HEALTH autocorrelation shows the relationship between CVS HEALTH stock current value and its past values and can show if there is a momentum factor associated with investing in CVS HEALTH CDR.
Regressed Prices |
| Timeline |
Pair Trading with CVS HEALTH
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 CVS HEALTH 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 CVS HEALTH will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to CVS HEALTH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CVS HEALTH 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 CVS HEALTH - 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 CVS HEALTH CDR to buy it.
The correlation of CVS HEALTH 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 CVS HEALTH moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CVS HEALTH CDR 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 CVS HEALTH 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.Other Information on Investing in CVS Stock
CVS HEALTH financial ratios help investors to determine whether CVS 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 CVS with respect to the benefits of owning CVS HEALTH security.