WrapValue is best understood when you look at the definition of the word 'Wrap' in the context of text:
Quote: "To be moved automatically to the following line upon reaching a margin"
In the context of values, upon reaching the margin, or edge, the value is looped back to the other side and raised by the overlap, which is how far passed the margin the value is.
The WrapValue command which arguably should be called WrapAngle has a margin at 0 and as Chafari stated, 360.
The Matrix1 command Wrap, has a variable margin which you specify.