CARDINAL HEALTH INC Market Value
| 14149YBM9 | 81.86 3.00 3.54% |
| Symbol | CARDINAL |
CARDINAL '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 CARDINAL's bond 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 CARDINAL.
| 11/03/2024 |
| 12/03/2024 |
If you would invest 0.00 in CARDINAL on November 3, 2024 and sell it all today you would earn a total of 0.00 from holding CARDINAL HEALTH INC or generate 0.0% return on investment in CARDINAL over 30 days. CARDINAL is related to or competes with Travelers Companies, GE Aerospace, Walmart, Pfizer, HP, 3M, and Merck. More
CARDINAL 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 CARDINAL's bond 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 CARDINAL HEALTH INC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.94 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 19.81 | |||
| Value At Risk | (6.71) | |||
| Potential Upside | 6.78 |
CARDINAL Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CARDINAL's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CARDINAL's standard deviation. In reality, there are many statistical measures that can use CARDINAL historical prices to predict the future CARDINAL's volatility.| Risk Adjusted Performance | 0.0114 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.46) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.0571 |
CARDINAL HEALTH INC Backtested Returns
CARDINAL HEALTH INC secures Sharpe Ratio (or Efficiency) of -0.0274, which signifies that the bond had a -0.0274% return per unit of risk over the last 3 months. CARDINAL HEALTH INC exposes twenty-eight different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CARDINAL's Semi Deviation of 2.85, coefficient of variation of 20081.5, and Mean Deviation of 1.66 to double-check the risk estimate we provide. The entity shows a Beta (market volatility) of 0.0981, which signifies not very significant fluctuations relative to the market. As returns on the market increase, CARDINAL's returns are expected to increase less than the market. However, during the bear market, the loss of holding CARDINAL is expected to be smaller as well.
Auto-correlation | 0.51 |
Modest predictability
CARDINAL HEALTH INC has modest predictability. Overlapping area represents the amount of predictability between CARDINAL time series from 3rd of November 2024 to 18th of November 2024 and 18th of November 2024 to 3rd of December 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 CARDINAL HEALTH INC price movement. The serial correlation of 0.51 indicates that about 51.0% of current CARDINAL price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.12 |
CARDINAL HEALTH INC lagged returns against current returns
Autocorrelation, which is CARDINAL bond'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 CARDINAL's bond expected returns. We can calculate the autocorrelation of CARDINAL returns to help us make a trade decision. For example, suppose you find that CARDINAL has exhibited high autocorrelation historically, and you observe that the bond 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 |
CARDINAL 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 CARDINAL bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CARDINAL bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CARDINAL bond over time.
Current vs Lagged Prices |
| Timeline |
CARDINAL Lagged Returns
When evaluating CARDINAL's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CARDINAL bond have on its future price. CARDINAL 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, CARDINAL autocorrelation shows the relationship between CARDINAL bond current value and its past values and can show if there is a momentum factor associated with investing in CARDINAL HEALTH INC.
Regressed Prices |
| Timeline |
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.Other Information on Investing in CARDINAL Bond
CARDINAL financial ratios help investors to determine whether CARDINAL Bond 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 CARDINAL with respect to the benefits of owning CARDINAL security.