CVS Corp Correlations

CVS
 Stock
  

USD 93.19  0.66  0.71%   

The correlation of CVS 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 CVS Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CVS 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 CVS 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 CVS 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 CVS 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 CVS Corp to buy it.

Moving together with CVS Corp

0.75CLOVClover Health InvestmentsPairCorr
0.65CNCCentene CorpPairCorr
0.86ELVElevance HealthPairCorr
0.91MOHMolina HealthcarePairCorr
0.67AADIAadi BiosciencesPairCorr
0.81ABBVAbbvie IncPairCorr
0.94ABCAmerisourcebergen Corp Fiscal Year End 3rd of November 2022 PairCorr
0.72ABCMAbcam Plc ADRPairCorr

Moving against CVS Corp

0.63MPLNMultiplan Corp Upward RallyPairCorr

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   
GECSCO
JPMGE
BACSCO
GEBA
CATHD
JPMHD
  
High negative correlations   
CSCOT
BAT
GET
HDOMWS
CATOMWS
JPMT

CVS Corp Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between CVS Corp stock performing well and CVS 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 CVS 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
OMWS 14.58  3.44  0.16 (2.45)  11.68  0.14 (43.65)  53.85 (33.33)  143.71 
T 1.32  0.38  0.28  0.38  1.36  0.25 (1.53)  2.99 (2.47)  12.17 
JNJ 0.96  0.10  0.17 (0.01)  1.08  0.16 (1.09)  2.23 (1.86)  5.89 
CSCO 1.56 (0.21)  0.00 (0.40)  0.00 (0.09)  0.00  2.73 (3.26)  17.06 
BA 2.59 (0.15)  0.00 (0.29)  0.00 (0.08)  0.00  5.64 (5.07)  16.31 
GE 1.70 (0.37)  0.00 (0.49)  0.00 (0.17)  0.00  2.80 (4.93)  12.00 
HD 1.71  0.12  0.00 (0.09)  0.00  0.0427  0.00  2.92 (3.64)  8.63 
JPM 1.47 (0.11)  0.00 (0.30)  0.00 (0.06)  0.00  2.98 (3.00)  10.78 
CAT 1.76 (0.15)  0.00 (0.34)  0.00 (0.07)  0.00  3.20 (4.35)  10.92 

Be your own money manager

Our tools can tell you how much better you can do entering a position in CVS Corp without increasing your portfolio risk or giving up expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate.risk-adjusted returns of your individual positions relative to your overall portfolio.

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CVS Corp Corporate Directors

CVS Corp corporate directors refer to members of a CVS Corp board of directors. The board of directors generally takes responsibility for the CVS 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 CVS Corp's board members must vote for the resolution. The CVS Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Edward Ludwig - Independent DirectorProfile
Richard Bracken - Independent DirectorProfile
Mary Schapiro - Independent DirectorProfile
Richard Swift - Independent DirectorProfile

Investing CVS Corp

You need to understand the risk of investing before taking a position in CVS Corp. The danger of trading CVS 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 CVS 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 CVS Corp. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile CVS 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 CVS Corp information on this page should be used as a complementary analysis to other CVS 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.

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When running CVS Corp price analysis, check to measure CVS 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 CVS Corp is operating at the current time. Most of CVS Corp's value examination focuses on studying past and present price action to predict the probability of CVS Corp's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move CVS Corp's price. Additionally, you may evaluate how the addition of CVS Corp to your portfolios can decrease your overall portfolio volatility.
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Is CVS 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 CVS Corp. If investors know CVS Corp 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 CVS 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
0.036
Market Capitalization
123.2 B
Quarterly Revenue Growth YOY
0.11
Return On Assets
0.0386
Return On Equity
0.11
The market value of CVS Corp is measured differently than its book value, which is the value of CVS Corp that is recorded on the company's balance sheet. Investors also form their own opinion of CVS Corp's value that differs from its market value or its book value, called intrinsic value, which is CVS 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 CVS Corp's market value can be influenced by many factors that don't directly affect CVS 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 CVS Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine CVS Corp value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, CVS 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.