Elevance Pretax Profit Margin vs Gross Profit Margin Analysis

ELV Stock

USD 536.25 1.06 0.20%

Elevance Health financial indicator trend analysis is much more than just examining Elevance Health latest accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Elevance Health is a good investment. Please check the relationship between Elevance Health Pretax Profit Margin and its Gross Profit Margin accounts. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevance Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For more information on how to buy Elevance Stock please use our How to Invest in Elevance Health guide.

Pretax Profit Margin vs Gross Profit Margin

Pretax Profit Margin vs Gross Profit Margin Correlation Analysis

The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Elevance Health Pretax Profit Margin account and Gross Profit Margin. At this time, the significance of the direction appears to have fragmental relationship.

The correlation between Elevance Health's Pretax Profit Margin and Gross Profit Margin is 0.58. Overlapping area represents the amount of variation of Pretax Profit Margin that can explain the historical movement of Gross Profit Margin in the same time period over historical financial statements of Elevance Health, assuming nothing else is changed. The correlation between historical values of Elevance Health's Pretax Profit Margin and Gross Profit Margin is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Pretax Profit Margin of Elevance Health are associated (or correlated) with its Gross Profit Margin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Gross Profit Margin has no effect on the direction of Pretax Profit Margin i.e., Elevance Health's Pretax Profit Margin and Gross Profit Margin go up and down completely randomly.

Correlation Coefficient

0.58

Relationship Direction	Positive
Relationship Strength	Weak

View All Relationships

Pretax Profit Margin

Gross Profit Margin

Most indicators from Elevance Health's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators one by one will only give a small insight into Elevance Health current financial condition. On the other hand, looking into the entire matrix of fundamental ratios indicators, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elevance Health. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For more information on how to buy Elevance Stock please use our How to Invest in Elevance Health guide.At this time, Elevance Health's Discontinued Operations is fairly stable compared to the past year. Sales General And Administrative To Revenue is likely to climb to 0.15 in 2024, whereas Selling General Administrative is likely to drop slightly above 8.6 B in 2024.

	2021	2022	2023	2024 (projected)
Gross Profit	127.7B	143.6B	154.0B	161.7B
Total Revenue	138.6B	156.6B	171.3B	179.9B

Gross Profit Total Revenue

Elevance Health fundamental ratios Correlations

	Total Assets	Short Long Term Debt Total	Total Stockholder Equity	Net Debt	Other Assets	Common Stock Shares Outstanding	Non Current Liabilities Total	Other Stockholder Equity	Total Liab	Other Current Liab	Total Current Liabilities	Other Liab	Retained Earnings	Accounts Payable	Cash	Long Term Debt	Short Term Investments	Other Current Assets	Intangible Assets	Property Plant Equipment	Property Plant And Equipment Net	Non Current Assets Total	Non Currrent Assets Other	Cash And Short Term Investments	Net Receivables	Common Stock Total Equity
Total Assets		0.97	0.99	0.93	-0.24	-0.12	0.98	0.47	0.84	0.07	0.65	0.74	0.81	0.79	0.9	0.98	0.98	0.7	0.9	0.76	0.81	0.82	0.05	0.51	0.76	0.09
Short Long Term Debt Total	0.97		0.96	0.98	-0.37	-0.16	0.99	0.43	0.79	-0.05	0.57	0.72	0.76	0.75	0.86	1.0	0.92	0.64	0.89	0.69	0.74	0.84	0.0	0.52	0.69	0.12
Total Stockholder Equity	0.99	0.96		0.92	-0.27	-0.01	0.96	0.58	0.84	0.01	0.6	0.78	0.8	0.76	0.87	0.96	0.97	0.69	0.94	0.74	0.79	0.87	0.11	0.52	0.73	0.23
Net Debt	0.93	0.98	0.92		-0.48	-0.08	0.96	0.48	0.73	-0.15	0.48	0.74	0.68	0.68	0.74	0.97	0.87	0.57	0.89	0.6	0.65	0.87	-0.04	0.53	0.61	0.18
Other Assets	-0.24	-0.37	-0.27	-0.48		-0.08	-0.34	-0.24	-0.03	0.84	0.32	-0.54	0.05	-0.03	-0.03	-0.37	-0.18	0.14	-0.37	0.13	0.06	-0.63	0.12	-0.34	0.14	-0.4
Common Stock Shares Outstanding	-0.12	-0.16	-0.01	-0.08	-0.08		-0.1	0.7	-0.18	-0.23	-0.37	0.19	-0.29	-0.36	-0.33	-0.18	-0.03	-0.19	0.24	-0.34	-0.34	0.17	0.05	-0.28	-0.37	0.77
Non Current Liabilities Total	0.98	0.99	0.96	0.96	-0.34	-0.1		0.48	0.81	0.03	0.6	0.74	0.76	0.76	0.85	0.99	0.94	0.65	0.91	0.69	0.74	0.82	-0.03	0.5	0.7	0.12
Other Stockholder Equity	0.47	0.43	0.58	0.48	-0.24	0.7	0.48		0.52	-0.08	0.25	0.69	0.41	0.35	0.24	0.43	0.49	0.43	0.78	0.35	0.36	0.68	0.19	0.3	0.32	0.79
Total Liab	0.84	0.79	0.84	0.73	-0.03	-0.18	0.81	0.52		0.36	0.9	0.68	0.98	0.97	0.8	0.82	0.81	0.94	0.81	0.96	0.97	0.69	0.16	0.7	0.96	0.04
Other Current Liab	0.07	-0.05	0.01	-0.15	0.84	-0.23	0.03	-0.08	0.36		0.7	-0.29	0.4	0.4	0.23	-0.01	0.1	0.5	-0.06	0.48	0.41	-0.39	0.09	0.01	0.5	-0.45
Total Current Liabilities	0.65	0.57	0.6	0.48	0.32	-0.37	0.6	0.25	0.9	0.7		0.34	0.92	0.93	0.71	0.61	0.62	0.93	0.52	0.94	0.91	0.31	0.18	0.58	0.96	-0.26
Other Liab	0.74	0.72	0.78	0.74	-0.54	0.19	0.74	0.69	0.68	-0.29	0.34		0.6	0.59	0.51	0.73	0.74	0.54	0.85	0.53	0.57	0.91	0.0	0.6	0.53	0.44
Retained Earnings	0.81	0.76	0.8	0.68	0.05	-0.29	0.76	0.41	0.98	0.4	0.92	0.6		0.97	0.83	0.78	0.77	0.94	0.73	0.99	0.99	0.62	0.21	0.7	0.99	-0.03
Accounts Payable	0.79	0.75	0.76	0.68	-0.03	-0.36	0.76	0.35	0.97	0.4	0.93	0.59	0.97		0.78	0.78	0.74	0.94	0.7	0.97	0.97	0.6	0.17	0.76	0.97	-0.11
Cash	0.9	0.86	0.87	0.74	-0.03	-0.33	0.85	0.24	0.8	0.23	0.71	0.51	0.83	0.78		0.87	0.86	0.7	0.71	0.78	0.83	0.61	0.09	0.41	0.79	-0.06
Long Term Debt	0.98	1.0	0.96	0.97	-0.37	-0.18	0.99	0.43	0.82	-0.01	0.61	0.73	0.78	0.78	0.87		0.93	0.66	0.89	0.72	0.77	0.84	-0.02	0.55	0.72	0.1
Short Term Investments	0.98	0.92	0.97	0.87	-0.18	-0.03	0.94	0.49	0.81	0.1	0.62	0.74	0.77	0.74	0.86	0.93		0.68	0.89	0.73	0.77	0.79	0.07	0.48	0.72	0.08
Other Current Assets	0.7	0.64	0.69	0.57	0.14	-0.19	0.65	0.43	0.94	0.5	0.93	0.54	0.94	0.94	0.7	0.66	0.68		0.65	0.93	0.9	0.51	0.31	0.72	0.95	-0.04
Intangible Assets	0.9	0.89	0.94	0.89	-0.37	0.24	0.91	0.78	0.81	-0.06	0.52	0.85	0.73	0.7	0.71	0.89	0.89	0.65		0.65	0.7	0.92	0.05	0.5	0.64	0.43
Property Plant Equipment	0.76	0.69	0.74	0.6	0.13	-0.34	0.69	0.35	0.96	0.48	0.94	0.53	0.99	0.97	0.78	0.72	0.73	0.93	0.65		0.99	0.53	0.23	0.71	0.99	-0.12
Property Plant And Equipment Net	0.81	0.74	0.79	0.65	0.06	-0.34	0.74	0.36	0.97	0.41	0.91	0.57	0.99	0.97	0.83	0.77	0.77	0.9	0.7	0.99		0.6	0.18	0.68	0.98	-0.08
Non Current Assets Total	0.82	0.84	0.87	0.87	-0.63	0.17	0.82	0.68	0.69	-0.39	0.31	0.91	0.62	0.6	0.61	0.84	0.79	0.51	0.92	0.53	0.6		0.06	0.58	0.51	0.48
Non Currrent Assets Other	0.05	0.0	0.11	-0.04	0.12	0.05	-0.03	0.19	0.16	0.09	0.18	0.0	0.21	0.17	0.09	-0.02	0.07	0.31	0.05	0.23	0.18	0.06		0.37	0.19	0.07
Cash And Short Term Investments	0.51	0.52	0.52	0.53	-0.34	-0.28	0.5	0.3	0.7	0.01	0.58	0.6	0.7	0.76	0.41	0.55	0.48	0.72	0.5	0.71	0.68	0.58	0.37		0.68	0.03
Net Receivables	0.76	0.69	0.73	0.61	0.14	-0.37	0.7	0.32	0.96	0.5	0.96	0.53	0.99	0.97	0.79	0.72	0.72	0.95	0.64	0.99	0.98	0.51	0.19	0.68		-0.15
Common Stock Total Equity	0.09	0.12	0.23	0.18	-0.4	0.77	0.12	0.79	0.04	-0.45	-0.26	0.44	-0.03	-0.11	-0.06	0.1	0.08	-0.04	0.43	-0.12	-0.08	0.48	0.07	0.03	-0.15

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Elevance Health Account Relationship Matchups

Elevance Health fundamental ratios Accounts

	2019	2020	2021	2022	2023	2024 (projected)
Total Assets	77.5B	86.6B	97.3B	102.8B	108.9B	57.8B
Short Long Term Debt Total	20.1B	20.0B	23.0B	24.1B	25.1B	12.6B
Total Stockholder Equity	31.7B	33.2B	36.1B	36.3B	39.3B	23.6B
Net Debt	15.1B	14.3B	18.2B	16.7B	18.6B	9.6B
Other Assets	(11.3B)	(13.7B)	(14.8B)	1.9B	1.7B	1.8B
Liabilities And Stockholders Equity	77.5B	86.6B	97.3B	102.8B	108.9B	57.8B
Non Current Liabilities Total	20.0B	21.4B	23.8B	26.7B	27.7B	14.1B
Other Stockholder Equity	9.4B	9.2B	9.1B	9.1B	8.9B	11.1B
Total Liab	45.7B	53.4B	61.2B	66.4B	69.5B	73.0B
Other Current Liab	(16.4B)	(18.8B)	(21.5B)	16.2B	15.5B	16.3B
Total Current Liabilities	16.4B	18.8B	21.5B	39.7B	41.8B	43.9B
Other Liab	3.8B	4.6B	5.1B	3.6B	4.1B	3.9B
Retained Earnings	22.6B	23.8B	27.1B	29.7B	31.7B	33.3B
Accounts Payable	13.0B	16.9B	18.5B	20.6B	23.0B	24.2B
Cash	4.9B	5.7B	4.9B	7.4B	6.5B	3.3B
Long Term Debt	17.8B	19.3B	21.2B	22.3B	23.2B	12.5B
Short Term Investments	19.7B	23.4B	26.3B	26.0B	29.6B	15.6B
Other Current Assets	29.1B	34.3B	38.5B	43.6B	60.0B	63.0B
Intangible Assets	8.7B	9.4B	10.6B	10.3B	10.3B	8.3B
Property Plant Equipment	3.1B	3.5B	3.9B	4.3B	5.0B	5.2B
Property Plant And Equipment Net	3.1B	3.5B	3.9B	4.3B	4.4B	4.6B
Non Current Assets Total	53.5B	60.1B	67.5B	47.2B	48.9B	43.7B
Non Currrent Assets Other	(801M)	(1.7B)	(103M)	(19.8B)	9.0B	9.4B
Cash And Short Term Investments	24.6B	29.2B	31.1B	7.4B	36.1B	37.9B
Net Receivables	10.6B	11.0B	13.4B	16.0B	17.9B	18.8B
Property Plant And Equipment Gross	2.2B	2.7B	3.1B	3.5B	4.0B	4.2B
Total Current Assets	35.2B	40.1B	44.6B	55.6B	60.0B	63.0B
Accumulated Other Comprehensive Income	(296M)	150M	(178M)	(2.5B)	(1.3B)	(1.2B)
Short Term Debt	2.0B	2.3B	700M	1.9B	1.8B	1.2B
Current Deferred Revenue	1.0B	1.3B	1.2B	1.1B	1.4B	1.5B
Good Will	20.5B	21.7B	24.2B	24.4B	25.3B	17.6B
Inventory	(29.1B)	(34.3B)	(38.5B)	(11.4B)	(46.3B)	(44.0B)
Retained Earnings Total Equity	22.6B	23.8B	27.1B	29.7B	34.2B	17.6B
Deferred Long Term Liab	2.2B	2.0B	2.8B	2.0B	2.3B	2.4B
Net Tangible Assets	2.6B	2.1B	1.2B	1.6B	1.9B	1.9B
Long Term Debt Total	17.8B	19.3B	21.2B	22.3B	25.7B	17.9B

Pair Trading with Elevance 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 Elevance 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 Elevance Health will appreciate offsetting losses from the drop in the long position's value.

Moving against Elevance Stock

0.76	ATXI	Avenue Therapeutics	Pair Corr
0.7	SCLXW	Scilex Holding	Pair Corr
0.64	CRL	Charles River Labora	Pair Corr
0.63	IQV	IQVIA Holdings	Pair Corr
0.61	SYK	Stryker	Pair Corr

The ability to find closely correlated positions to Elevance 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 Elevance 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 Elevance 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 Elevance Health to buy it.

The correlation of Elevance 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 Elevance Health moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elevance 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 Elevance 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.

Pair Correlation Correlation Matching

Additional Tools for Elevance Stock Analysis

When running Elevance Health's price analysis, check to measure Elevance 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 Elevance Health is operating at the current time. Most of Elevance Health's value examination focuses on studying past and present price action to predict the probability of Elevance 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 Elevance Health's price. Additionally, you may evaluate how the addition of Elevance Health to your portfolios can decrease your overall portfolio volatility.

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