Centene Corp Stock Market Value
| CNC Stock | USD 74.00 1.68 2.22% |
| Symbol | Centene |
Centene Corp Price To Book Ratio
Is Centene Corp'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 Centene Corp. If investors know Centene 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 Centene Corp 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 (0.32) | Earnings Share 4.95 | Revenue Per Share 260.006 | Quarterly Revenue Growth 0.056 | Return On Assets 0.037 |
The market value of Centene Corp is measured differently than its book value, which is the value of Centene that is recorded on the company's balance sheet. Investors also form their own opinion of Centene Corp's value that differs from its market value or its book value, called intrinsic value, which is Centene Corp'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 Centene Corp's market value can be influenced by many factors that don't directly affect Centene Corp'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 Centene Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Centene Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Centene Corp'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.
Centene Corp '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 Centene Corp'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 Centene Corp.
| 05/09/2022 |
| 04/28/2024 |
If you would invest 0.00 in Centene Corp on May 9, 2022 and sell it all today you would earn a total of 0.00 from holding Centene Corp or generate 0.0% return on investment in Centene Corp over 720 days. Centene Corp is related to or competes with Humana, Elevance Health, UnitedHealth Group, CVS Health, Alignment Healthcare, Cigna Corp, and Molina Healthcare. Centene Corporation operates as a multi-national healthcare enterprise that provides programs and services to under-insu... More
Centene Corp 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 Centene Corp'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 Centene Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 9.48 | |||
| Value At Risk | (2.22) | |||
| Potential Upside | 2.18 |
Centene Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Centene Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Centene Corp's standard deviation. In reality, there are many statistical measures that can use Centene Corp historical prices to predict the future Centene Corp's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.22) | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Centene Corp'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.
Centene Corp Backtested Returns
We consider Centene Corp very steady. Centene Corp secures Sharpe Ratio (or Efficiency) of 0.0064, which signifies that the company had a 0.0064% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for Centene Corp, which you can use to evaluate the volatility of the firm. Please confirm Centene Corp's Mean Deviation of 1.02, standard deviation of 1.46, and Risk Adjusted Performance of (0) to double-check if the risk estimate we provide is consistent with the expected return of 0.0092%. The firm shows a Beta (market volatility) of 0.78, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Centene Corp's returns are expected to increase less than the market. However, during the bear market, the loss of holding Centene Corp is expected to be smaller as well. Centene Corp right now shows a risk of 1.45%. Please confirm Centene Corp maximum drawdown, daily balance of power, period momentum indicator, as well as the relationship between the skewness and day typical price , to decide if Centene Corp will be following its price patterns.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Centene Corp has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Centene Corp time series from 9th of May 2022 to 4th of May 2023 and 4th of May 2023 to 28th 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 Centene Corp price movement. The serial correlation of -0.72 indicates that around 72.0% of current Centene Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 23.18 |
Centene Corp lagged returns against current returns
Autocorrelation, which is Centene Corp 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 Centene Corp's stock expected returns. We can calculate the autocorrelation of Centene Corp returns to help us make a trade decision. For example, suppose you find that Centene Corp 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 |
Centene Corp 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 Centene Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Centene Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Centene Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Centene Corp Lagged Returns
When evaluating Centene Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Centene Corp stock have on its future price. Centene Corp 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, Centene Corp autocorrelation shows the relationship between Centene Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Centene Corp.
Regressed Prices |
| Timeline |
Centene Corp Investors Sentiment
The influence of Centene Corp'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 Centene. 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 Centene Corp's public news can be used to forecast risks associated with an investment in Centene. The trend in average sentiment can be used to explain how an investor holding Centene can time the market purely based on public headlines and social activities around Centene Corp. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Centene Corp'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 Centene Corp'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 Centene Corp's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Centene Corp.
Centene Corp Implied Volatility | 40.75 |
Centene Corp's implied volatility exposes the market's sentiment of Centene Corp stock's possible movements over time. However, it does not forecast the overall direction of its price. In a nutshell, if Centene Corp'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 Centene Corp stock will not fluctuate a lot when Centene Corp'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 Centene Corp 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, Centene Corp's short interest history, or implied volatility extrapolated from Centene Corp options trading.
Pair Trading with Centene Corp
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 Centene Corp 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 Centene Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Centene Stock
| 0.65 | CVS | CVS Health Corp Sell-off Trend | PairCorr |
| 0.62 | DHR | Danaher | PairCorr |
| 0.69 | IDXX | IDEXX Laboratories Financial Report 7th of May 2024 | PairCorr |
Moving against Centene Stock
| 0.7 | ACB | Aurora Cannabis Sell-off Trend | PairCorr |
| 0.61 | CGC | Canopy Growth Corp Financial Report 27th of June 2024 | PairCorr |
| 0.52 | ELYM | Eliem Therapeutics Upward Rally | PairCorr |
The ability to find closely correlated positions to Centene Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Centene Corp 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 Centene Corp - 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 Centene Corp to buy it.
The correlation of Centene Corp 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 Centene Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Centene Corp 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 Centene Corp 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 Centene Corp Correlation, Centene Corp Volatility and Centene Corp Alpha and Beta module to complement your research on Centene Corp. For information on how to trade Centene Stock refer to our How to Trade Centene Stock guide.You can also try the Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
Complementary Tools for Centene Stock analysis
When running Centene Corp's price analysis, check to measure Centene Corp'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 Centene Corp is operating at the current time. Most of Centene Corp's value examination focuses on studying past and present price action to predict the probability of Centene Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Centene Corp's price. Additionally, you may evaluate how the addition of Centene Corp to your portfolios can decrease your overall portfolio volatility.
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Centene Corp 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.