Alcoa Corp Stock Market Value
AA Stock | USD 35.55 0.54 1.50% |
Symbol | Alcoa |
Alcoa Corp Price To Book Ratio
Is Alcoa 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 Alcoa Corp. If investors know Alcoa 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 Alcoa 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 0.81 | Dividend Share 0.4 | Earnings Share (3.60) | Revenue Per Share 59.275 | Quarterly Revenue Growth (0.03) |
The market value of Alcoa Corp is measured differently than its book value, which is the value of Alcoa that is recorded on the company's balance sheet. Investors also form their own opinion of Alcoa Corp's value that differs from its market value or its book value, called intrinsic value, which is Alcoa 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 Alcoa Corp's market value can be influenced by many factors that don't directly affect Alcoa 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 Alcoa Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alcoa Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alcoa 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.
Alcoa Corp 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Alcoa Corp's stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Alcoa Corp.
03/18/2024 |
| 04/17/2024 |
If you would invest 0.00 in Alcoa Corp on March 18, 2024 and sell it all today you would earn a total of 0.00 from holding Alcoa Corp or generate 0.0% return on investment in Alcoa Corp over 30 days. Alcoa Corp is related to or competes with China Hongqiao, Norsk Hydro, Thrivent High, Morningstar Unconstrained, T Rowe, and 70082LAB3. Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the Uni... More
Alcoa Corp Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Alcoa Corp's stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Alcoa Corp upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 3.41 | |||
Information Ratio | 0.0726 | |||
Maximum Drawdown | 15.82 | |||
Value At Risk | (4.45) | |||
Potential Upside | 5.35 |
Alcoa Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alcoa Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alcoa Corp's standard deviation. In reality, there are many statistical measures that can use Alcoa Corp historical prices to predict the future Alcoa Corp's volatility.Risk Adjusted Performance | 0.0651 | |||
Jensen Alpha | 0.1607 | |||
Total Risk Alpha | 0.0363 | |||
Sortino Ratio | 0.0692 | |||
Treynor Ratio | 0.1105 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alcoa Corp's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Alcoa Corp Backtested Returns
Alcoa Corp appears to be very steady, given 3 months investment horizon. Alcoa Corp secures Sharpe Ratio (or Efficiency) of 0.17, which signifies that the company had a 0.17% return per unit of standard deviation over the last 3 months. By analyzing Alcoa Corp's technical indicators, you can evaluate if the expected return of 0.53% is justified by implied risk. Please makes use of Alcoa Corp's risk adjusted performance of 0.0651, and Mean Deviation of 2.52 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Alcoa Corp holds a performance score of 13. The firm shows a Beta (market volatility) of 2.57, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Alcoa Corp will likely underperform. Please check Alcoa Corp's mean deviation, standard deviation, treynor ratio, as well as the relationship between the downside deviation and total risk alpha , to make a quick decision on whether Alcoa Corp's price patterns will revert.
Auto-correlation | -0.38 |
Poor reverse predictability
Alcoa Corp has poor reverse predictability. Overlapping area represents the amount of predictability between Alcoa Corp time series from 18th of March 2024 to 2nd of April 2024 and 2nd of April 2024 to 17th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Alcoa Corp price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Alcoa Corp price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.38 | |
Spearman Rank Test | 0.01 | |
Residual Average | 0.0 | |
Price Variance | 0.27 |
Alcoa Corp lagged returns against current returns
Autocorrelation, which is Alcoa Corp stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Alcoa Corp's stock expected returns. We can calculate the autocorrelation of Alcoa Corp returns to help us make a trade decision. For example, suppose you find that Alcoa Corp has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
Timeline |
Alcoa Corp regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Alcoa Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alcoa Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alcoa Corp stock over time.
Current vs Lagged Prices |
Timeline |
Alcoa Corp Lagged Returns
When evaluating Alcoa Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alcoa Corp stock have on its future price. Alcoa Corp autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Alcoa Corp autocorrelation shows the relationship between Alcoa Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Alcoa Corp.
Regressed Prices |
Timeline |
Pair Trading with Alcoa Corp
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Alcoa Corp position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Alcoa Corp will appreciate offsetting losses from the drop in the long position's value.Moving together with Alcoa Stock
0.93 | AG | First Majestic Silver Financial Report 2nd of May 2024 | PairCorr |
Moving against Alcoa Stock
0.67 | NC | NACCO Industries | PairCorr |
0.66 | X | United States Steel Earnings Call Next Week | PairCorr |
0.54 | VALE | Vale SA ADR Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Alcoa 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 Alcoa 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 Alcoa 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 Alcoa Corp to buy it.
The correlation of Alcoa Corp is a statistical measure of how it moves in relation to other instruments. 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 Alcoa Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alcoa 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.
Correlation analysis and pair trading evaluation for Alcoa Corp can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Alcoa Corp Correlation, Alcoa Corp Volatility and Alcoa Corp Alpha and Beta module to complement your research on Alcoa Corp. For information on how to trade Alcoa Stock refer to our How to Trade Alcoa Stock guide.Note that the Alcoa Corp information on this page should be used as a complementary analysis to other Alcoa 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 the Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
Complementary Tools for Alcoa Stock analysis
When running Alcoa Corp's price analysis, check to measure Alcoa 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 Alcoa Corp is operating at the current time. Most of Alcoa Corp's value examination focuses on studying past and present price action to predict the probability of Alcoa Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alcoa Corp's price. Additionally, you may evaluate how the addition of Alcoa Corp to your portfolios can decrease your overall portfolio volatility.
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Alcoa Corp 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.