Cardinal Health Correlations
| CAH Stock | USD 103.21 0.60 0.58% |
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.
Average diversification
The correlation between Cardinal Health and NYA is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cardinal Health and NYA in the same portfolio, assuming nothing else is changed.
Cardinal |
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.
Moving together with Cardinal Stock
| 0.75 | A | Agilent Technologies Financial Report 28th of May 2024 | PairCorr |
| 0.69 | ELEV | Elevation Oncology Earnings Call This Week | PairCorr |
| 0.72 | ENVB | Enveric Biosciences Financial Report 20th of May 2024 | PairCorr |
| 0.83 | CRL | Charles River Labora Financial Report 9th of May 2024 | PairCorr |
| 0.76 | MTD | Mettler Toledo Inter Financial Report 2nd of May 2024 | PairCorr |
Moving against Cardinal Stock
| 0.46 | GH | Guardant Health Financial Report 14th of May 2024 | PairCorr |
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Our tools can tell you how much better you can do entering a position in Cardinal Health without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Cardinal Health Corporate Directors
Cardinal Health corporate directors refer to members of a Cardinal Health board of directors. The board of directors generally takes responsibility for the Cardinal Health's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Cardinal Health's board members must vote for the resolution. The Cardinal Health board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| John Losh | Independent Director | Profile | |
| David Anderson | Independent Director | Profile | |
| Nancy Killefer | Independent Director | Profile | |
| Patricia Hall | Independent Director | Profile |
Already Invested in Cardinal Health?
The danger of trading Cardinal Health is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Cardinal Health is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Cardinal Health. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Cardinal Health is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Cardinal Health offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Cardinal Health's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Cardinal Health Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Cardinal Health Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Cardinal Health. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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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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.