Array Technologiesinc Stock Market Value
ARRY Stock | USD 14.91 0.19 1.26% |
Symbol | Array |
Array TechnologiesInc Price To Book Ratio
Is Array TechnologiesInc'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 Array TechnologiesInc. If investors know Array 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 Array TechnologiesInc 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 (0.65) | Earnings Share 0.56 | Revenue Per Share 10.445 | Quarterly Revenue Growth (0.15) | Return On Assets 0.0795 |
The market value of Array TechnologiesInc is measured differently than its book value, which is the value of Array that is recorded on the company's balance sheet. Investors also form their own opinion of Array TechnologiesInc's value that differs from its market value or its book value, called intrinsic value, which is Array TechnologiesInc'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 Array TechnologiesInc's market value can be influenced by many factors that don't directly affect Array TechnologiesInc'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 Array TechnologiesInc's value and its price as these two are different measures arrived at by different means. Investors typically determine if Array TechnologiesInc is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Array TechnologiesInc'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.
Array TechnologiesInc '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 Array TechnologiesInc'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 Array TechnologiesInc.
04/09/2022 |
| 03/29/2024 |
If you would invest 0.00 in Array TechnologiesInc on April 9, 2022 and sell it all today you would earn a total of 0.00 from holding Array TechnologiesInc or generate 0.0% return on investment in Array TechnologiesInc over 720 days. Array TechnologiesInc is related to or competes with Beam Global, Canadian Solar, Maxeon Solar, Mind Technology, Mix Telemats, VHAI, and Voxeljet. Array Technologies, Inc. manufactures and supplies solar tracking systems and related products in the United States and ... More
Array TechnologiesInc 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 Array TechnologiesInc'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 Array TechnologiesInc upside and downside potential and time the market with a certain degree of confidence.
Information Ratio | (0.09) | |||
Maximum Drawdown | 16.69 | |||
Value At Risk | (5.80) | |||
Potential Upside | 6.7 |
Array TechnologiesInc Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Array TechnologiesInc's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Array TechnologiesInc's standard deviation. In reality, there are many statistical measures that can use Array TechnologiesInc historical prices to predict the future Array TechnologiesInc's volatility.Risk Adjusted Performance | (0.02) | |||
Jensen Alpha | (0.55) | |||
Total Risk Alpha | (0.95) | |||
Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Array TechnologiesInc'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.
Array TechnologiesInc Backtested Returns
Array TechnologiesInc secures Sharpe Ratio (or Efficiency) of -0.041, which signifies that the company had a -0.041% return per unit of risk over the last 3 months. Array TechnologiesInc exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Array TechnologiesInc's Mean Deviation of 2.72, risk adjusted performance of (0.02), and Standard Deviation of 3.47 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 3.06, 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, Array TechnologiesInc will likely underperform. Array TechnologiesInc has an expected return of -0.15%. Please make sure to confirm Array TechnologiesInc jensen alpha, kurtosis, as well as the relationship between the Kurtosis and price action indicator , to decide if Array TechnologiesInc performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.49 |
Modest reverse predictability
Array TechnologiesInc has modest reverse predictability. Overlapping area represents the amount of predictability between Array TechnologiesInc time series from 9th of April 2022 to 4th of April 2023 and 4th of April 2023 to 29th of March 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 Array TechnologiesInc price movement. The serial correlation of -0.49 indicates that about 49.0% of current Array TechnologiesInc price fluctuation can be explain by its past prices.
Correlation Coefficient | -0.49 | |
Spearman Rank Test | -0.7 | |
Residual Average | 0.0 | |
Price Variance | 13.72 |
Array TechnologiesInc lagged returns against current returns
Autocorrelation, which is Array TechnologiesInc 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 Array TechnologiesInc's stock expected returns. We can calculate the autocorrelation of Array TechnologiesInc returns to help us make a trade decision. For example, suppose you find that Array TechnologiesInc 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 |
Array TechnologiesInc 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 Array TechnologiesInc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Array TechnologiesInc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Array TechnologiesInc stock over time.
Current vs Lagged Prices |
Timeline |
Array TechnologiesInc Lagged Returns
When evaluating Array TechnologiesInc's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Array TechnologiesInc stock have on its future price. Array TechnologiesInc 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, Array TechnologiesInc autocorrelation shows the relationship between Array TechnologiesInc stock current value and its past values and can show if there is a momentum factor associated with investing in Array TechnologiesInc.
Regressed Prices |
Timeline |
Pair Trading with Array TechnologiesInc
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 Array TechnologiesInc 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 Array TechnologiesInc will appreciate offsetting losses from the drop in the long position's value.Moving against Array Stock
0.71 | CYD | China Yuchai Interna | PairCorr |
0.69 | MPU | Mega Matrix Corp | PairCorr |
0.5 | WAB | Westinghouse Air Brake Financial Report 24th of April 2024 | PairCorr |
The ability to find closely correlated positions to Array TechnologiesInc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Array TechnologiesInc 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 Array TechnologiesInc - 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 Array TechnologiesInc to buy it.
The correlation of Array TechnologiesInc 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 Array TechnologiesInc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Array TechnologiesInc 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 Array TechnologiesInc 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 Array TechnologiesInc Correlation, Array TechnologiesInc Volatility and Array TechnologiesInc Alpha and Beta module to complement your research on Array TechnologiesInc. For more information on how to buy Array Stock please use our How to Invest in Array TechnologiesInc guide.You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Complementary Tools for Array Stock analysis
When running Array TechnologiesInc's price analysis, check to measure Array TechnologiesInc'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 Array TechnologiesInc is operating at the current time. Most of Array TechnologiesInc's value examination focuses on studying past and present price action to predict the probability of Array TechnologiesInc's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Array TechnologiesInc's price. Additionally, you may evaluate how the addition of Array TechnologiesInc to your portfolios can decrease your overall portfolio volatility.
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Array TechnologiesInc 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.