Centene Corp Correlations

CNC -  USA Stock  

USD 82.95  0.69  0.82%

The correlation of Centene Corp is a statistical measure of how it moves in relation to other equities. 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.
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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.

Moving together with Centene Corp

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Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
INTCCVS
INTCJPM
INTCBA
BACVS
INTCMMM
JPMCVS
  
High negative correlations   
WMTVTNR
BAVTNR
VTNRCVS
INTCVTNR
JPMVTNR
MMMVTNR

Centene Corp Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between Centene Corp stock performing well and Centene Corp company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Centene Corp's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
CVS 1.32 (0.05)  0.00 (0.20)  0.00 (0.0146)  0.00  2.73 (3.11)  10.18 
VTNR 5.00  0.90  0.14  0.39  5.43  0.13 (6.16)  11.53 (9.66)  30.84 
JPM 1.47 (0.12)  0.00 (0.26)  0.00 (0.07)  0.00  2.98 (3.00)  10.78 
WMT 1.21  0.41  0.59 (2.80)  0.56  0.34 (1.56)  2.68 (1.71)  8.90 
VZ 1.02  0.09  0.10  0.04  1.69  0.11 (0.99)  2.30 (2.42)  7.94 
PFE 1.47  0.08  0.00 (0.03)  0.00  0.07  0.00  3.17 (3.16)  8.45 
BA 2.62 (0.14)  0.00 (0.24)  0.00 (0.07)  0.00  5.64 (5.07)  16.31 
MMM 1.15 (0.03)  0.00 (0.19)  0.00  0.001  0.00  2.17 (2.52)  8.68 
INTC 1.90 (0.10)  0.00 (0.22)  0.00 (0.06)  0.00  3.21 (3.64)  13.88 

Similar Equity Warning - CNC

Centene Corp was forked

The entity Centene Corp with a symbol CNC was recently forked. You can potentially use CONSECO INC with a symbol CNCEQ from now on.

Centene Corp Corporate Directors

Centene Corp corporate directors refer to members of a Centene Corp board of directors. The board of directors generally takes responsibility for the Centene Corp'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 Centene Corp's board members must vote for the resolution. The Centene Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Vicki Escarra - DirectorProfile
Lori Robinson - Independent DirectorProfile
Robert Ditmore - Presiding Independent DirectorProfile
Jessica Blume - Independent DirectorProfile

Investing Centene Corp

You need to understand the risk of investing before taking a position in Centene Corp. The danger of trading Centene Corp 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 Centene Corp 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 Centene Corp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Centene Corp 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.
Continue to Trending Equities. Note that the Centene Corp information on this page should be used as a complementary analysis to other Centene Corp'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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.

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When running Centene Corp 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 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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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 YOY
0.21
Market Capitalization
48.9 B
Quarterly Revenue Growth YOY
0.22
Return On Assets
0.0312
Return On Equity
0.0553
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 Centene Corp value 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.