Reliance Steel Aluminum Stock Alpha and Beta Analysis

RS Stock  USD 334.18  2.72  0.81%   
This module allows you to check different measures of market premium (i.e., alpha and beta) for all equities such as Reliance Steel Aluminum. It also helps investors analyze the systematic and unsystematic risks associated with investing in Reliance Steel over a specified time horizon. Remember, high Reliance Steel's alpha is almost always a sign of good performance; however, a high beta will depend on investors' risk tolerance level and may signal increased volatility and potential future overvaluation. Key technical indicators related to Reliance Steel's market risk premium analysis include:
Beta
1.99
Alpha
0.0175
Risk
1.99
Sharpe Ratio
0.16
Expected Return
0.31
Please note that although Reliance Steel alpha is a measure of relative return and represented here as a single number, it indicates the percentage above or below your selected benchmark (i.e., NYSE Composite index.) So in this particular case, Reliance Steel did 0.02  better than the index. Remember, a high alpha is always good. Beta, on the other hand, measures the volatility (or risk) of an investment. It is an indication of Reliance Steel Aluminum stock's relative risk over its benchmark. Reliance Steel Aluminum has a beta of 1.99  . As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Reliance Steel will likely underperform. Enterprise Value Multiple is likely to gain to 8.55 in 2024, whereas Price Book Value Ratio is likely to drop 1.13 in 2024.

Reliance Steel Quarterly Cash And Equivalents

976.9 Million

Alpha is a measure of relative performance on a risk-adjusted basis, while beta measures volatility against the benchmark. The goal is to know if an investor is being compensated for the volatility risk taken. The return on investment might be better than its reference but still not compensate for the assumption of the risk.
  
Check out Reliance Steel Backtesting, Reliance Steel Valuation, Reliance Steel Correlation, Reliance Steel Hype Analysis, Reliance Steel Volatility, Reliance Steel History and analyze Reliance Steel Performance.

Reliance Steel Market Premiums

Investors always prefer to have the highest possible return on investment, coupled with the lowest possible volatility. Reliance Steel market risk premium is the additional return an investor will receive from holding Reliance Steel long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Reliance Steel. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Alpha and beta are two of the key measurements used to evaluate Reliance Steel's performance over market.
α0.02   β1.99

Reliance Steel expected buy-and-hold returns

Although buy-and-hold investment strategy may not appeal to all investors, it may be used as a good measure of Reliance Steel's Buy-and-hold return. Our buy-and-hold chart shows how Reliance Steel performed over your current time horizon against a typical interest-earning bank account and a selected benchmark.

Reliance Steel Market Price Analysis

Market price analysis indicators help investors to evaluate how Reliance Steel stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Reliance Steel shares will generate the highest return on investment. By understating and applying Reliance Steel stock market price indicators, traders can identify Reliance Steel position entry and exit signals to maximize returns.

Reliance Steel Return and Market Media

The median price of Reliance Steel for the period between Fri, Dec 29, 2023 and Thu, Mar 28, 2024 is 297.24 with a coefficient of variation of 6.96. The daily time series for the period is distributed with a sample standard deviation of 21.0, arithmetic mean of 301.85, and mean deviation of 19.83. The Stock received substential amount of media coverage during this period.
 Price Growth (%)  
       Timeline  
1
Nita Ambani is now the most powerful woman in Indian media
02/29/2024
2
Tata aims to buy Disney out of Tata Play TV platform - Bloomberg
03/14/2024
3
Electoral bonds data All about Reliance-linked Qwik Supply Chain 3rd largest donor to political parties
03/15/2024
4
Aegon calls EUR 700 million of fixed-to-floating subordinated notes
03/19/2024
5
Russias top trade ally delivers surprise blow to Putins fleet
03/21/2024
 
Reliance Steel dividend paid on 22nd of March 2024
03/22/2024
7
Should Invesco SP MidCap Momentum ETF Be on Your Investing Radar
03/25/2024
8
Disney had big plans in India heres why its pulling back
03/26/2024
9
Acquisition by Douglas Stotlar of 615 shares of Reliance Steel subject to Rule 16b-3
03/28/2024

About Reliance Steel Beta and Alpha

For many years both, Alpha and Beta indicators are used by professional money managers as critical performance measurement tools across virtually all financial instruments including Reliance or other stocks. Alpha measures the amount that position in Reliance Steel Aluminum has returned in comparison to a selected market index or another relevant benchmark. In other words, Alpha is the excess return on an investment relative to the performance of your selected benchmark. Beta, on the other hand, measures the relative risk of your investment.
 2021 2022 2023 2024 (projected)
Price Earnings Ratio7.266.6612.2114.2
Short Term Coverage Ratios12.573.7829.5827.76

Reliance Steel Upcoming Company Events

As portrayed in its financial statements, the presentation of Reliance Steel's financial position is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Reliance Steel's leadership is honest, while the outside auditors are strict and uncompromising. Whatever the case, investors should always follow all of Reliance Steel's public filing events to personally review all filings and be reasonable and skeptical to interpret all of the financial statements of Reliance Steel. Please utilize our Beneish M Score to check the likelihood of Reliance Steel's management manipulating its earnings.
15th of February 2024
Upcoming Quarterly Report
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25th of April 2024
Next Financial Report
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31st of December 2023
Next Fiscal Quarter End
View
15th of February 2024
Next Fiscal Year End
View
30th of September 2023
Last Quarter Report
View
31st of December 2022
Last Financial Announcement
View

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When determining whether Reliance Steel Aluminum is a strong investment it is important to analyze Reliance Steel's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Reliance Steel's future performance. For an informed investment choice regarding Reliance Stock, refer to the following important reports:

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When running Reliance Steel's price analysis, check to measure Reliance Steel'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 Reliance Steel is operating at the current time. Most of Reliance Steel's value examination focuses on studying past and present price action to predict the probability of Reliance Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Reliance Steel's price. Additionally, you may evaluate how the addition of Reliance Steel to your portfolios can decrease your overall portfolio volatility.
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Reliance Steel technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Reliance Steel technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Reliance Steel trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...