Corvel Corp Stock Market Value
| CRVL Stock | USD 235.49 3.00 1.26% |
| Symbol | CorVel |
CorVel Corp Price To Book Ratio
Is CorVel Corp'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 CorVel Corp. If investors know CorVel 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 CorVel Corp 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 0.031 | Earnings Share 4.31 | Revenue Per Share 45.138 | Quarterly Revenue Growth 0.128 | Return On Assets 0.1394 |
The market value of CorVel Corp is measured differently than its book value, which is the value of CorVel that is recorded on the company's balance sheet. Investors also form their own opinion of CorVel Corp's value that differs from its market value or its book value, called intrinsic value, which is CorVel Corp'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 CorVel Corp's market value can be influenced by many factors that don't directly affect CorVel Corp'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 CorVel Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if CorVel Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CorVel Corp'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.
CorVel Corp '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 CorVel Corp'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 CorVel Corp.
| 10/20/2023 |
| 04/17/2024 |
If you would invest 0.00 in CorVel Corp on October 20, 2023 and sell it all today you would earn a total of 0.00 from holding CorVel Corp or generate 0.0% return on investment in CorVel Corp over 180 days. CorVel Corp is related to or competes with Erie Indemnity, Huize HoldingLtd, Crawford, EHealth, Fanhua, Brown Brown, and Arthur J. CorVel Corporation provides workers compensation, auto, liability, and health solutions for employers, third party admin... More
CorVel Corp 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 CorVel Corp'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 CorVel Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.72 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 8.09 | |||
| Value At Risk | (2.76) | |||
| Potential Upside | 3.51 |
CorVel Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CorVel Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CorVel Corp's standard deviation. In reality, there are many statistical measures that can use CorVel Corp historical prices to predict the future CorVel Corp's volatility.| Risk Adjusted Performance | 0.0173 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0209 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of CorVel Corp'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.
CorVel Corp Backtested Returns
We consider CorVel Corp very steady. CorVel Corp secures Sharpe Ratio (or Efficiency) of 0.0255, which signifies that the company had a 0.0255% return per unit of risk over the last 3 months. We have found thirty technical indicators for CorVel Corp, which you can use to evaluate the volatility of the firm. Please confirm CorVel Corp's Mean Deviation of 1.45, risk adjusted performance of 0.0173, and Downside Deviation of 1.72 to double-check if the risk estimate we provide is consistent with the expected return of 0.0483%. CorVel Corp has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.02, which signifies a somewhat significant risk relative to the market. CorVel Corp returns are very sensitive to returns on the market. As the market goes up or down, CorVel Corp is expected to follow. CorVel Corp right now shows a risk of 1.89%. Please confirm CorVel Corp expected short fall, and the relationship between the maximum drawdown and rate of daily change , to decide if CorVel Corp will be following its price patterns.
Auto-correlation | 0.56 |
Modest predictability
CorVel Corp has modest predictability. Overlapping area represents the amount of predictability between CorVel Corp time series from 20th of October 2023 to 18th of January 2024 and 18th of January 2024 to 17th 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 CorVel Corp price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current CorVel Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 84.45 |
CorVel Corp lagged returns against current returns
Autocorrelation, which is CorVel Corp 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 CorVel Corp's stock expected returns. We can calculate the autocorrelation of CorVel Corp returns to help us make a trade decision. For example, suppose you find that CorVel Corp 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 |
CorVel Corp 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 CorVel Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CorVel Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CorVel Corp stock over time.
Current vs Lagged Prices |
| Timeline |
CorVel Corp Lagged Returns
When evaluating CorVel Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CorVel Corp stock have on its future price. CorVel Corp 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, CorVel Corp autocorrelation shows the relationship between CorVel Corp stock current value and its past values and can show if there is a momentum factor associated with investing in CorVel Corp.
Regressed Prices |
| Timeline |
Pair Trading with CorVel Corp
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 CorVel Corp 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 CorVel Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with CorVel Stock
| 0.63 | CI | Cigna Corp Financial Report 3rd of May 2024 | PairCorr |
Moving against CorVel Stock
| 0.54 | VREX | Varex Imaging Corp Financial Report 7th of May 2024 | PairCorr |
| 0.41 | EMBC | Embecta Corp Financial Report 10th of May 2024 | PairCorr |
The ability to find closely correlated positions to CorVel Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CorVel Corp 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 CorVel Corp - 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 CorVel Corp to buy it.
The correlation of CorVel Corp 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 CorVel Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CorVel Corp 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 CorVel Corp 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 CorVel Corp Correlation, CorVel Corp Volatility and CorVel Corp Alpha and Beta module to complement your research on CorVel Corp. For more information on how to buy CorVel Stock please use our How to buy in CorVel Stock guide.You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Complementary Tools for CorVel Stock analysis
When running CorVel Corp's price analysis, check to measure CorVel Corp'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 CorVel Corp is operating at the current time. Most of CorVel Corp's value examination focuses on studying past and present price action to predict the probability of CorVel Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move CorVel Corp's price. Additionally, you may evaluate how the addition of CorVel Corp to your portfolios can decrease your overall portfolio volatility.
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CorVel Corp 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.