Elevation Net Working Capital from 2010 to 2024
| ELEV Stock | USD 2.35 0.06 2.49% |
Net Working Capital | First Reported 2010-12-31 | Previous Quarter 83.8 M | Current Value 83 M | Quarterly Volatility 46.5 M |
Check Elevation Oncology financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Elevation Oncology's main balance sheet or income statement drivers, such as Depreciation And Amortization of 37 K, Interest Expense of 4.4 M or Selling General Administrative of 9.2 M, as well as many indicators such as Price To Sales Ratio of 0.0, Dividend Yield of 0.0 or PTB Ratio of 0.35. Elevation financial statements analysis is a perfect complement when working with Elevation Oncology Valuation or Volatility modules.
Elevation | Net Working Capital |
Latest Elevation Oncology's Net Working Capital Growth Pattern
Below is the plot of the Net Working Capital of Elevation Oncology over the last few years. It is Elevation Oncology's Net Working Capital historical data analysis aims to capture in quantitative terms the overall pattern of either growth or decline in Elevation Oncology's overall financial position and show how it may be relating to other accounts over time.
| Net Working Capital | 10 Years Trend |
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Net Working Capital |
| Timeline |
Elevation Net Working Capital Regression Statistics
| Arithmetic Mean | 31,457,503 | |
| Geometric Mean | 5,364,926 | |
| Coefficient Of Variation | 147.91 | |
| Mean Deviation | 40,187,337 | |
| Median | 1,317,000 | |
| Standard Deviation | 46,527,871 | |
| Sample Variance | 2164.8T | |
| Range | 139.3M | |
| R-Value | 0.76 | |
| Mean Square Error | 975.4T | |
| R-Squared | 0.58 | |
| Significance | 0.0009 | |
| Slope | 7,934,374 | |
| Total Sum of Squares | 30307.8T |
Elevation Net Working Capital History
About Elevation Oncology Financial Statements
Elevation Oncology investors use historical fundamental indicators, such as Elevation Oncology's Net Working Capital, to determine how well the company is positioned to perform in the future. Understanding over-time patterns can help investors decide on long-term investments in Elevation Oncology. Please read more on our technical analysis and fundamental analysis pages.
| Last Reported | Projected for Next Year | ||
| Net Working Capital | 83.8 M | 83 M |
Pair Trading with Elevation Oncology
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 Elevation Oncology 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 Elevation Oncology will appreciate offsetting losses from the drop in the long position's value.Moving together with Elevation Stock
Moving against Elevation Stock
| 0.68 | AMGN | Amgen Inc | PairCorr |
| 0.67 | NHC | National HealthCare | PairCorr |
| 0.64 | LLY | Eli Lilly | PairCorr |
| 0.61 | EHC | Encompass Health Corp | PairCorr |
| 0.61 | SEM | Select Medical Holdings | PairCorr |
The ability to find closely correlated positions to Elevation Oncology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elevation Oncology 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 Elevation Oncology - 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 Elevation Oncology to buy it.
The correlation of Elevation Oncology 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 Elevation Oncology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elevation Oncology 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 Elevation Oncology 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.Additional Tools for Elevation Stock Analysis
When running Elevation Oncology's price analysis, check to measure Elevation Oncology'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 Elevation Oncology is operating at the current time. Most of Elevation Oncology's value examination focuses on studying past and present price action to predict the probability of Elevation Oncology's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Elevation Oncology's price. Additionally, you may evaluate how the addition of Elevation Oncology to your portfolios can decrease your overall portfolio volatility.