Elevance Health Stock Market Value
| ELV Stock | USD 403.60 6.12 1.54% |
| Symbol | Elevance |
Elevance Health Price To Book Ratio
Is Health Care Providers & Services space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Elevance Health. If investors know Elevance will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Elevance Health listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.20) | Dividend Share 6.37 | Earnings Share 27.49 | Revenue Per Share 747.407 | Quarterly Revenue Growth 0.054 |
The market value of Elevance Health is measured differently than its book value, which is the value of Elevance that is recorded on the company's balance sheet. Investors also form their own opinion of Elevance Health's value that differs from its market value or its book value, called intrinsic value, which is Elevance Health's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Elevance Health's market value can be influenced by many factors that don't directly affect Elevance Health's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Elevance Health's value and its price as these two are different measures arrived at by different means. Investors typically determine if Elevance Health is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Elevance Health's 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.
Elevance 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 Elevance 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 Elevance Health.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Elevance Health on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Elevance Health or generate 0.0% return on investment in Elevance Health over 30 days. Elevance Health is related to or competes with Cigna Corp, UnitedHealth Group, Centene Corp, Molina Healthcare, Humana, CVS Health, and Alignment Healthcare. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and res... More
Elevance 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 Elevance 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 Elevance Health upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 13.29 | |||
| Value At Risk | (2.93) | |||
| Potential Upside | 1.97 |
Elevance Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elevance Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elevance Health's standard deviation. In reality, there are many statistical measures that can use Elevance Health historical prices to predict the future Elevance Health's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.51) | |||
| Total Risk Alpha | (0.68) | |||
| Treynor Ratio | (0.58) |
Elevance Health Backtested Returns
Elevance Health secures Sharpe Ratio (or Efficiency) of -0.24, which denotes the company had a -0.24% return per unit of risk over the last 3 months. Elevance Health exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elevance Health's Standard Deviation of 1.86, mean deviation of 1.22, and Variance of 3.48 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.75, which means possible diversification benefits within a given portfolio. As returns on the market increase, Elevance Health's returns are expected to increase less than the market. However, during the bear market, the loss of holding Elevance Health is expected to be smaller as well. At this point, Elevance Health has a negative expected return of -0.44%. Please make sure to confirm Elevance Health's treynor ratio, as well as the relationship between the kurtosis and day typical price , to decide if Elevance Health performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.11 |
Insignificant predictability
Elevance Health has insignificant predictability. Overlapping area represents the amount of predictability between Elevance Health time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Elevance Health price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Elevance Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | -0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 119.89 |
Elevance Health lagged returns against current returns
Autocorrelation, which is Elevance 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 Elevance Health's stock expected returns. We can calculate the autocorrelation of Elevance Health returns to help us make a trade decision. For example, suppose you find that Elevance 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 |
Elevance 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 Elevance Health stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elevance Health stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elevance Health stock over time.
Current vs Lagged Prices |
| Timeline |
Elevance Health Lagged Returns
When evaluating Elevance Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elevance Health stock have on its future price. Elevance 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, Elevance Health autocorrelation shows the relationship between Elevance Health stock current value and its past values and can show if there is a momentum factor associated with investing in Elevance Health.
Regressed Prices |
| Timeline |
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Additional Tools for Elevance Stock Analysis
When running Elevance Health's price analysis, check to measure Elevance Health'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 Elevance Health is operating at the current time. Most of Elevance Health's value examination focuses on studying past and present price action to predict the probability of Elevance Health's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevance Health's price. Additionally, you may evaluate how the addition of Elevance Health to your portfolios can decrease your overall portfolio volatility.