A method for determining properties of a subterranean formation. The method includes determining at least one characterization parameter based on wave velocity measurement data, determining a plurality of elastic coefficients based on the at least one characterization parameter using a plurality of equations, determining an anisotropic stress profile of the subterranean formations based on the stiffness matrix of the subterranean formation comprising the plurality of elastic coefficients wherein the elastic coefficients are approximated using the plurality of equations, and displaying the anisotropic stress profile of the subterranean formations.