Corecivic Stock Market Value
| CXW Stock | USD 14.73 0.03 0.20% |
| Symbol | CoreCivic |
CoreCivic Price To Book Ratio
Is CoreCivic's industry 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 CoreCivic. If investors know CoreCivic 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 CoreCivic 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 0.103 | Earnings Share 0.59 | Revenue Per Share 16.667 | Quarterly Revenue Growth 0.042 | Return On Assets 0.0336 |
The market value of CoreCivic is measured differently than its book value, which is the value of CoreCivic that is recorded on the company's balance sheet. Investors also form their own opinion of CoreCivic's value that differs from its market value or its book value, called intrinsic value, which is CoreCivic'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 CoreCivic's market value can be influenced by many factors that don't directly affect CoreCivic'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 CoreCivic's value and its price as these two are different measures arrived at by different means. Investors typically determine if CoreCivic is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CoreCivic'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.
CoreCivic '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 CoreCivic'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 CoreCivic.
| 04/26/2023 |
| 04/20/2024 |
If you would invest 0.00 in CoreCivic on April 26, 2023 and sell it all today you would earn a total of 0.00 from holding CoreCivic or generate 0.0% return on investment in CoreCivic over 360 days. CoreCivic is related to or competes with ADT, NL Industries, Mistras, Evolv Technologies, CompX International, MSA Safety, and Brinks. CoreCivic, Inc. owns and operates partnership correctional, detention, and residential reentry facilities in the United ... More
CoreCivic 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 CoreCivic'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 CoreCivic upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.67 | |||
| Information Ratio | 0.032 | |||
| Maximum Drawdown | 8.94 | |||
| Value At Risk | (2.45) | |||
| Potential Upside | 3.16 |
CoreCivic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CoreCivic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CoreCivic's standard deviation. In reality, there are many statistical measures that can use CoreCivic historical prices to predict the future CoreCivic's volatility.| Risk Adjusted Performance | 0.0526 | |||
| Jensen Alpha | 0.0529 | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | 0.0385 | |||
| Treynor Ratio | 0.1215 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CoreCivic's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
CoreCivic Backtested Returns
We consider CoreCivic not too volatile. CoreCivic secures Sharpe Ratio (or Efficiency) of 0.0249, which signifies that the company had a 0.0249% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for CoreCivic, which you can use to evaluate the volatility of the firm. Please confirm CoreCivic's Mean Deviation of 1.52, downside deviation of 1.67, and Risk Adjusted Performance of 0.0526 to double-check if the risk estimate we provide is consistent with the expected return of 0.0482%. CoreCivic has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.15, which signifies a somewhat significant risk relative to the market. CoreCivic returns are very sensitive to returns on the market. As the market goes up or down, CoreCivic is expected to follow. CoreCivic right now shows a risk of 1.94%. Please confirm CoreCivic value at risk, as well as the relationship between the kurtosis and market facilitation index , to decide if CoreCivic will be following its price patterns.
Auto-correlation | 0.77 |
Good predictability
CoreCivic has good predictability. Overlapping area represents the amount of predictability between CoreCivic time series from 26th of April 2023 to 23rd of October 2023 and 23rd of October 2023 to 20th of April 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 CoreCivic price movement. The serial correlation of 0.77 indicates that around 77.0% of current CoreCivic price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 0.65 |
CoreCivic lagged returns against current returns
Autocorrelation, which is CoreCivic 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 CoreCivic's stock expected returns. We can calculate the autocorrelation of CoreCivic returns to help us make a trade decision. For example, suppose you find that CoreCivic 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 |
CoreCivic 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 CoreCivic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CoreCivic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CoreCivic stock over time.
Current vs Lagged Prices |
| Timeline |
CoreCivic Lagged Returns
When evaluating CoreCivic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CoreCivic stock have on its future price. CoreCivic 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, CoreCivic autocorrelation shows the relationship between CoreCivic stock current value and its past values and can show if there is a momentum factor associated with investing in CoreCivic.
Regressed Prices |
| Timeline |
CoreCivic Investors Sentiment
The influence of CoreCivic's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in CoreCivic. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to CoreCivic's public news can be used to forecast risks associated with an investment in CoreCivic. The trend in average sentiment can be used to explain how an investor holding CoreCivic can time the market purely based on public headlines and social activities around CoreCivic. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
CoreCivic's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for CoreCivic's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average CoreCivic's news discussions. The higher the estimated score, the more favorable is the investor's outlook on CoreCivic.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards CoreCivic in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, CoreCivic's short interest history, or implied volatility extrapolated from CoreCivic options trading.
Pair Trading with CoreCivic
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 CoreCivic 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 CoreCivic will appreciate offsetting losses from the drop in the long position's value.Moving against CoreCivic Stock
| 0.65 | OPI | Office Properties Financial Report 24th of April 2024 | PairCorr |
| 0.64 | ELS | Equity Lifestyle Pro Earnings Call This Week | PairCorr |
| 0.54 | KW | Kennedy Wilson Holdings Financial Report 1st of May 2024 | PairCorr |
| 0.51 | ROIC | Retail Opportunity Financial Report 23rd of April 2024 | PairCorr |
| 0.47 | HPP | Hudson Pacific Properties Financial Report 13th of May 2024 | PairCorr |
The ability to find closely correlated positions to CoreCivic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CoreCivic 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 CoreCivic - 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 CoreCivic to buy it.
The correlation of CoreCivic 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 CoreCivic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CoreCivic 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 CoreCivic 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.Check out CoreCivic Correlation, CoreCivic Volatility and CoreCivic Alpha and Beta module to complement your research on CoreCivic. For more information on how to buy CoreCivic Stock please use our How to Invest in CoreCivic guide.You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Complementary Tools for CoreCivic Stock analysis
When running CoreCivic's price analysis, check to measure CoreCivic'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 CoreCivic is operating at the current time. Most of CoreCivic's value examination focuses on studying past and present price action to predict the probability of CoreCivic's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CoreCivic's price. Additionally, you may evaluate how the addition of CoreCivic to your portfolios can decrease your overall portfolio volatility.
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CoreCivic technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.