If you would invest 0.00 in CVS Health on January 21, 2019 and sell it all today you would earn a total of 0.00 from holding CVS Health Corporation or generate 0.0% return on investment in CVS Health over 60 days. CVS Health is related to or competes with Cigna, Centene, Humana, Molina Healthcare, Health Insurance, and Magellan Health. CVS Health Corporation provides health services and plans in the United States
Macroaxis considers CVS Health to be not too risky. CVS Health secures Sharpe Ratio (or Efficiency) of -0.1263 which signifies that the organization had -0.1263% of return per unit of volatility over the last 2 months. 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 Mean Deviation of 1.43 and Risk Adjusted Performance of (0.07) to double-check risk estimate we provide. The firm shows Beta (market volatility) of 1.4949 which signifies that as market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, CVS Health will likely underperform. 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 -0.26%. 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.
CVS Health Corporation has weak reverse predictability. Overlapping area represents the amount of predictability between CVS Health time series from January 21, 2019 to February 20, 2019 and February 20, 2019 to March 22, 2019. 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 -0.24 indicates that over 24.0% of current CVS Health price fluctuation can be explain by its past prices. Given that CVS Health Corporation has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of CVS Health for similar time interval.
Spearman Rank Test
CVS Health lagged returns against current returns
Current and Lagged Values
CVS Health regressed lagged prices vs. current prices
Current vs Lagged Prices
CVS Health Lagged Returns
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Correlation analysis and pair trading evaluation for CVS Health and Cigna. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return