Cardinal Health Stock Market Value
| CAH Stock | USD 103.37 0.54 0.53% |
| 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.
| 07/28/2023 |
| 04/23/2024 |
If you would invest 0.00 in Cardinal Health on July 28, 2023 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 270 days. Cardinal Health is related to or competes with Henry Schein, Owens Minor, Patterson Companies, McKesson, Zynex, and EDAP TMS. 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.
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 6.68 | |||
| Value At Risk | (2.79) | |||
| Potential Upside | 2.07 |
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 | (0.01) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | 0.2824 |
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
Cardinal Health secures Sharpe Ratio (or Efficiency) of -0.0037, which signifies that the company had a -0.0037% return per unit of risk over the last 3 months. Cardinal Health exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cardinal Health's Risk Adjusted Performance of (0.01), mean deviation of 1.06, and Standard Deviation of 1.45 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Cardinal Health are expected to decrease at a much lower rate. During the bear market, Cardinal Health is likely to outperform the market. Cardinal Health has an expected return of -0.0055%. Please make sure to confirm Cardinal Health kurtosis, and the relationship between the value at risk and rate of daily change , to decide if Cardinal Health performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.37 |
Below average predictability
Cardinal Health has below average predictability. Overlapping area represents the amount of predictability between Cardinal Health time series from 28th of July 2023 to 10th of December 2023 and 10th of December 2023 to 23rd 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 0.37 indicates that just about 37.0% of current Cardinal Health price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 16.17 |
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 |
Cardinal Health Investors Sentiment
The influence of Cardinal Health's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Cardinal. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Cardinal Health's public news can be used to forecast risks associated with an investment in Cardinal. The trend in average sentiment can be used to explain how an investor holding Cardinal can time the market purely based on public headlines and social activities around Cardinal Health. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Cardinal Health's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Cardinal Health's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Cardinal Health's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Cardinal Health.
Cardinal Health Implied Volatility | 39.34 |
Cardinal Health's implied volatility exposes the market's sentiment of Cardinal Health stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Cardinal Health's implied volatility is high, the market thinks the stock has potential for high price swings in either direction. On the other hand, the low implied volatility suggests that Cardinal Health stock will not fluctuate a lot when Cardinal Health's options are near their expiration.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Cardinal Health in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Cardinal Health's short interest history, or implied volatility extrapolated from Cardinal Health options trading.
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
| 0.69 | FORA | Forian Inc Financial Report 10th of May 2024 | PairCorr |
Moving against Cardinal Stock
| 0.65 | ICCM | Icecure Medical Financial Report 27th of May 2024 | PairCorr |
| 0.6 | SSY | SunLink Health Systems | PairCorr |
| 0.59 | TFX | Teleflex Incorporated Financial Report 2nd of May 2024 | PairCorr |
| 0.58 | FIGS | Figs Inc Financial Report 2nd of May 2024 | PairCorr |
| 0.57 | GH | Guardant Health Financial Report 14th 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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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.