Evolent Health Stock Market Value
| EVH Stock | USD 27.81 0.16 0.58% |
| Symbol | Evolent |
Evolent Health Price To Book Ratio
Is Evolent 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 Evolent Health. If investors know Evolent 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 Evolent Health listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Earnings Share (1.28) | Revenue Per Share 17.653 | Quarterly Revenue Growth 0.454 | Return On Assets 0.0086 | Return On Equity (0.11) |
The market value of Evolent Health is measured differently than its book value, which is the value of Evolent that is recorded on the company's balance sheet. Investors also form their own opinion of Evolent Health's value that differs from its market value or its book value, called intrinsic value, which is Evolent 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 Evolent Health's market value can be influenced by many factors that don't directly affect Evolent 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 Evolent Health's value and its price as these two are different measures arrived at by different means. Investors typically determine if Evolent Health is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Evolent 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.
Evolent 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 Evolent 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 Evolent Health.
| 11/02/2023 |
| 04/30/2024 |
If you would invest 0.00 in Evolent Health on November 2, 2023 and sell it all today you would earn a total of 0.00 from holding Evolent Health or generate 0.0% return on investment in Evolent Health over 180 days. Evolent Health is related to or competes with National Research, Forian, HealthEquity, and Agiliti. Evolent Health, Inc., a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administra... More
Evolent 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 Evolent 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 Evolent Health upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 19.46 | |||
| Value At Risk | (3.21) | |||
| Potential Upside | 2.3 |
Evolent Health Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Evolent Health's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Evolent Health's standard deviation. In reality, there are many statistical measures that can use Evolent Health historical prices to predict the future Evolent Health's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | (0.10) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Evolent 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.
Evolent Health Backtested Returns
Evolent Health secures Sharpe Ratio (or Efficiency) of -0.0251, which denotes the company had a -0.0251% return per unit of risk over the last 3 months. Evolent Health exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Evolent Health's Standard Deviation of 2.45, variance of 5.99, and Mean Deviation of 1.53 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 1.49, which means a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Evolent Health will likely underperform. Evolent Health has an expected return of -0.0617%. Please make sure to confirm Evolent Health value at risk, as well as the relationship between the accumulation distribution and day typical price , to decide if Evolent Health performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.07 |
Very weak reverse predictability
Evolent Health has very weak reverse predictability. Overlapping area represents the amount of predictability between Evolent Health time series from 2nd of November 2023 to 31st of January 2024 and 31st of January 2024 to 30th 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 Evolent Health price movement. The serial correlation of -0.07 indicates that barely 7.0% of current Evolent Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.07 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 3.17 |
Evolent Health lagged returns against current returns
Autocorrelation, which is Evolent 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 Evolent Health's stock expected returns. We can calculate the autocorrelation of Evolent Health returns to help us make a trade decision. For example, suppose you find that Evolent 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 |
Evolent 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 Evolent Health stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Evolent Health stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Evolent Health stock over time.
Current vs Lagged Prices |
| Timeline |
Evolent Health Lagged Returns
When evaluating Evolent Health's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Evolent Health stock have on its future price. Evolent 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, Evolent Health autocorrelation shows the relationship between Evolent Health stock current value and its past values and can show if there is a momentum factor associated with investing in Evolent Health.
Regressed Prices |
| Timeline |
Pair Trading with Evolent 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 Evolent 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 Evolent Health will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Evolent 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 Evolent 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 Evolent 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 Evolent Health to buy it.
The correlation of Evolent 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 Evolent Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Evolent 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 Evolent 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 Evolent Health Correlation, Evolent Health Volatility and Evolent Health Alpha and Beta module to complement your research on Evolent Health. For more detail on how to invest in Evolent Stock please use our How to Invest in Evolent Health guide.You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Complementary Tools for Evolent Stock analysis
When running Evolent Health's price analysis, check to measure Evolent 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 Evolent Health is operating at the current time. Most of Evolent Health's value examination focuses on studying past and present price action to predict the probability of Evolent 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 Evolent Health's price. Additionally, you may evaluate how the addition of Evolent Health to your portfolios can decrease your overall portfolio volatility.
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Evolent 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.