Macroaxis considers CVS Health to be not too risky. CVS Health
secures Sharpe Ratio (or Efficiency) of -0.2497 which signifies that CVS Health
had -0.2497% of return per unit of volatility over the last 1 month. Macroaxis approach towards foreseeing risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. CVS Health Corporation exposes twenty-one different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to confirm CVS Health Risk Adjusted Performance
of 0.1 and Mean Deviation of 1.38 to double-check risk estimate we provide. Macroaxis gives CVS Health performance score of 0 on a scale of 0 to 100. The firm shows Beta (market volatility) of -2.2399 which signifies that as returns on market increase, returns on owning CVS Health are expected to decrease by larger amounts. On the other hand, during market turmoil, CVS Health is expected to significantly outperform it.. Even though it is essential to pay attention to CVS Health historical returns, it is always good to be careful when utilizing equity current trending patterns. Macroaxis approach towards foreseeing future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. CVS Health Corporation exposes twenty-one different technical indicators which can help you to evaluate its performance. CVS Health has expected return of -0.4621%. Please be advised to confirm CVS Health Variance, Value At Risk as well as the relationship between Value At Risk and Skewness to decide if CVS Health past performance will be repeated at future time.
|15 days auto-correlation|| 0.09 |
Virtually no predictability
CVS Health Corporation has virtually no predictability. Overlapping area represents the amount of predictability between CVS Health time series from June 22, 2018 to July 7, 2018 and July 7, 2018 to July 22, 2018. 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 price movement. The serial correlation of 0.09 indicates that less than 9.0% of current CVS Health price fluctuation can be explain by its past prices.
|Correlation Coefficient|| 0.09|
|Spearman Rank Test|| 0.48|
|Price Variance|| 1.32|
|Lagged Price Variance|| 7.58|