Cardinal Health Stock Market Value
| CAH Stock | USD 106.00 0.52 0.49% |
| Symbol | Cardinal |
Cardinal Health Price To Book Ratio
Is Cardinal Health'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 Cardinal Health. If investors know Cardinal 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 Cardinal 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 (0.95) | Dividend Share 1.998 | Earnings Share 2.52 | Revenue Per Share 859.435 | Quarterly Revenue Growth 0.116 |
The market value of Cardinal Health is measured differently than its book value, which is the value of Cardinal that is recorded on the company's balance sheet. Investors also form their own opinion of Cardinal Health's value that differs from its market value or its book value, called intrinsic value, which is Cardinal 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 Cardinal Health's market value can be influenced by many factors that don't directly affect Cardinal 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 Cardinal Health's value and its price as these two are different measures arrived at by different means. Investors typically determine if Cardinal Health is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Cardinal 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.
Cardinal 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 Cardinal 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 Cardinal Health.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Cardinal Health on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Cardinal Health or generate 0.0% return on investment in Cardinal Health over 30 days. Cardinal Health is related to or competes with Certara, HealthStream, Evolent Health, Streamline Health, Definitive Healthcare, Simulations Plus, and Agiliti. Cardinal Health, Inc. operates as an integrated healthcare services and products company in the United States, Canada, E... More
Cardinal 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 Cardinal 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 Cardinal Health upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.39 | |||
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 6.68 | |||
| Value At Risk | (2.04) | |||
| Potential Upside | 2.02 |
Cardinal Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cardinal Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cardinal Health's standard deviation. In reality, there are many statistical measures that can use Cardinal Health historical prices to predict the future Cardinal Health's volatility.| Risk Adjusted Performance | 0.0098 | |||
| Jensen Alpha | (0.0008) | |||
| Total Risk Alpha | (0.12) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0.03) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Cardinal Health'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.
Cardinal Health Backtested Returns
We consider Cardinal Health very steady. Cardinal Health secures Sharpe Ratio (or Efficiency) of 0.0196, which signifies that the company had a 0.0196% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Cardinal Health, which you can use to evaluate the volatility of the firm. Please confirm Cardinal Health's Downside Deviation of 1.39, risk adjusted performance of 0.0098, and Mean Deviation of 0.9751 to double-check if the risk estimate we provide is consistent with the expected return of 0.026%. Cardinal Health has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.0091, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cardinal Health's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cardinal Health is expected to be smaller as well. Cardinal Health right now shows a risk of 1.33%. Please confirm Cardinal Health semi variance, rate of daily change, and the relationship between the value at risk and kurtosis , to decide if Cardinal Health will be following its price patterns.
Auto-correlation | -0.04 |
Very weak reverse predictability
Cardinal Health has very weak reverse predictability. Overlapping area represents the amount of predictability between Cardinal Health time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th 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 Cardinal Health price movement. The serial correlation of -0.04 indicates that only as little as 4.0% of current Cardinal Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.04 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 2.49 |
Cardinal Health lagged returns against current returns
Autocorrelation, which is Cardinal 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 Cardinal Health's stock expected returns. We can calculate the autocorrelation of Cardinal Health returns to help us make a trade decision. For example, suppose you find that Cardinal 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 |
Cardinal 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 Cardinal Health stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cardinal Health stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cardinal Health stock over time.
Current vs Lagged Prices |
| Timeline |
Cardinal Health Lagged Returns
When evaluating Cardinal Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cardinal Health stock have on its future price. Cardinal 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, Cardinal Health autocorrelation shows the relationship between Cardinal Health stock current value and its past values and can show if there is a momentum factor associated with investing in Cardinal Health.
Regressed Prices |
| Timeline |
Pair Trading with Cardinal Health
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 Cardinal Health 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 Cardinal Health will appreciate offsetting losses from the drop in the long position's value.Moving together with Cardinal Stock
| 0.82 | ELMD | Electromed | PairCorr |
| 0.89 | ALC | Alcon AG Financial Report 14th of May 2024 | PairCorr |
| 0.78 | BAX | Baxter International Financial Report 25th of April 2024 | PairCorr |
Moving against Cardinal Stock
| 0.67 | IVP | Inspire Veterinary | PairCorr |
| 0.67 | TFX | Teleflex Incorporated Financial Report 2nd of May 2024 | PairCorr |
| 0.56 | MMSI | Merit Medical Systems Financial Report 24th of April 2024 | PairCorr |
| 0.53 | NVST | Envista Holdings Corp Financial Report 1st of May 2024 | PairCorr |
| 0.46 | EMBC | Embecta Corp Financial Report 10th of May 2024 | PairCorr |
The ability to find closely correlated positions to Cardinal Health could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cardinal Health 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 Cardinal Health - 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 Cardinal Health to buy it.
The correlation of Cardinal Health 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 Cardinal Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cardinal Health 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 Cardinal Health 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 Cardinal Health Correlation, Cardinal Health Volatility and Cardinal Health Alpha and Beta module to complement your research on Cardinal Health. For more detail on how to invest in Cardinal Stock please use our How to Invest in Cardinal Health guide.Note that the Cardinal Health information on this page should be used as a complementary analysis to other Cardinal Health's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. 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 Cardinal Stock analysis
When running Cardinal Health's price analysis, check to measure Cardinal 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 Cardinal Health is operating at the current time. Most of Cardinal Health's value examination focuses on studying past and present price action to predict the probability of Cardinal 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 Cardinal Health's price. Additionally, you may evaluate how the addition of Cardinal Health to your portfolios can decrease your overall portfolio volatility.
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Cardinal Health 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.