Elevance Health (WBO:ELV) 6-1 Month Momentum % : 12.62% (As of May. 02, 2024)

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What is Elevance Health 6-1 Month Momentum %?

6-1 Month Momentum % is the total return of the stock from 6-month ago to 1-month ago. As of today (2024-05-02), Elevance Health's 6-1 Month Momentum % is 12.62%.

The industry rank for Elevance Health's 6-1 Month Momentum % or its related term are showing as below:

WBO:ELV's 6-1 Month Momentum % is ranked better than
63.16% of 19 companies
in the Healthcare Plans industry
Industry Median: -7.69 vs WBO:ELV: 12.62

Competitive Comparison of Elevance Health's 6-1 Month Momentum %

For the Healthcare Plans subindustry, Elevance Health's 6-1 Month Momentum %, along with its competitors' market caps and 6-1 Month Momentum % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Elevance Health's 6-1 Month Momentum % Distribution in the Healthcare Plans Industry

For the Healthcare Plans industry and Healthcare sector, Elevance Health's 6-1 Month Momentum % distribution charts can be found below:

* The bar in red indicates where Elevance Health's 6-1 Month Momentum % falls into.

Elevance Health (WBO:ELV) 6-1 Month Momentum % Calculation

6-1 Month Momentum % is calculated as following:

6-1 Month Momentum %

( Price 1-month ago

Price 6-month ago

- 1 )

100 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Elevance Health (WBO:ELV) 6-1 Month Momentum % Explanation

Momentum investing is a trading strategy in which investors buy securities that are rising and sell before the prices start to go back down. The 6-1 Month Momentum % measures the total return to a stock over the past six months, but ignores the previous month.

The reason why the most recent month’s return dropped related to the short-term reversal effect associated with momentum. There is an academic finding that short-term momentum actually has a reversal effect, whereby the previous winners (measured over the past months) do poorly the next month, while the previous losers do well the next month. In order to eliminate the short-term reversal effect, the previous month return was not included in this calculation.

Elevance Health 6-1 Month Momentum % Related Terms

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Elevance Health (WBO:ELV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Plans » Elevance Health Inc (WBO:ELV) » Definitions » 6-1 Month Momentum %

Comparable Companies

Traded in Other Exchanges

ELV:USA ELV:Mexico A58:Germany

Address

220 Virginia Avenue, Indianapolis, IN, USA, 46204

Website

https://www.elevancehealth.com

Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 48 million medical members as of June 2023. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.