Allegheny Technologies Incorporated Stock Market Value
| ATI Stock | USD 60.73 0.45 0.74% |
| Symbol | Allegheny |
Is Allegheny Technologies' 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 Allegheny Technologies. If investors know Allegheny 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 Allegheny Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Allegheny Technologies is measured differently than its book value, which is the value of Allegheny that is recorded on the company's balance sheet. Investors also form their own opinion of Allegheny Technologies' value that differs from its market value or its book value, called intrinsic value, which is Allegheny Technologies' 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 Allegheny Technologies' market value can be influenced by many factors that don't directly affect Allegheny Technologies' 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 Allegheny Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Allegheny Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allegheny Technologies' 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.
Allegheny Technologies '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 Allegheny Technologies' 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 Allegheny Technologies.
| 02/13/2024 |
| 05/13/2024 |
If you would invest 0.00 in Allegheny Technologies on February 13, 2024 and sell it all today you would earn a total of 0.00 from holding Allegheny Technologies Incorporated or generate 0.0% return on investment in Allegheny Technologies over 90 days. Allegheny Technologies is related to or competes with Worthington Industries, Haynes International, ESAB Corp, Insteel Industries, Northwest Pipe, Carpenter Technology, and Gulf Island. ATI Inc. manufactures and sells specialty materials and components worldwide More
Allegheny Technologies 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 Allegheny Technologies' 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 Allegheny Technologies Incorporated upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.56 | |||
| Information Ratio | 0.2106 | |||
| Maximum Drawdown | 16.45 | |||
| Value At Risk | (2.28) | |||
| Potential Upside | 4.03 |
Allegheny Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Allegheny Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Allegheny Technologies' standard deviation. In reality, there are many statistical measures that can use Allegheny Technologies historical prices to predict the future Allegheny Technologies' volatility.| Risk Adjusted Performance | 0.1573 | |||
| Jensen Alpha | 0.6367 | |||
| Total Risk Alpha | 0.312 | |||
| Sortino Ratio | 0.3507 | |||
| Treynor Ratio | (2.88) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Allegheny Technologies' 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.
Allegheny Technologies Backtested Returns
Allegheny Technologies appears to be very steady, given 3 months investment horizon. Allegheny Technologies secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the company had a 0.24% return per unit of risk over the last 3 months. By analyzing Allegheny Technologies' technical indicators, you can evaluate if the expected return of 0.63% is justified by implied risk. Please makes use of Allegheny Technologies' Mean Deviation of 1.6, downside deviation of 1.56, and Risk Adjusted Performance of 0.1573 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Allegheny Technologies holds a performance score of 18. The firm shows a Beta (market volatility) of -0.22, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Allegheny Technologies are expected to decrease at a much lower rate. During the bear market, Allegheny Technologies is likely to outperform the market. Please check Allegheny Technologies' total risk alpha, expected short fall, market facilitation index, as well as the relationship between the value at risk and daily balance of power , to make a quick decision on whether Allegheny Technologies' price patterns will revert.
Auto-correlation | 0.28 |
Poor predictability
Allegheny Technologies Incorporated has poor predictability. Overlapping area represents the amount of predictability between Allegheny Technologies time series from 13th of February 2024 to 29th of March 2024 and 29th of March 2024 to 13th of May 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 Allegheny Technologies price movement. The serial correlation of 0.28 indicates that nearly 28.0% of current Allegheny Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.28 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 17.71 |
Allegheny Technologies lagged returns against current returns
Autocorrelation, which is Allegheny Technologies 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 Allegheny Technologies' stock expected returns. We can calculate the autocorrelation of Allegheny Technologies returns to help us make a trade decision. For example, suppose you find that Allegheny Technologies 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 |
Allegheny Technologies 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 Allegheny Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Allegheny Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Allegheny Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Allegheny Technologies Lagged Returns
When evaluating Allegheny Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Allegheny Technologies stock have on its future price. Allegheny Technologies 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, Allegheny Technologies autocorrelation shows the relationship between Allegheny Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Allegheny Technologies Incorporated.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Allegheny Technologies in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Allegheny Technologies' short interest history, or implied volatility extrapolated from Allegheny Technologies options trading.
Pair Trading with Allegheny Technologies
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 Allegheny Technologies 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 Allegheny Technologies will appreciate offsetting losses from the drop in the long position's value.Moving against Allegheny Stock
| 0.84 | RYI | Ryerson Holding Corp | PairCorr |
| 0.77 | AP | Ampco Pittsburgh | PairCorr |
| 0.46 | WOR | Worthington Industries Financial Report 26th of June 2024 | PairCorr |
| 0.42 | IIIN | Insteel Industries Financial Report 18th of July 2024 | PairCorr |
The ability to find closely correlated positions to Allegheny Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allegheny Technologies 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 Allegheny Technologies - 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 Allegheny Technologies Incorporated to buy it.
The correlation of Allegheny Technologies 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 Allegheny Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allegheny Technologies 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 Allegheny Technologies 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 Allegheny Technologies Correlation, Allegheny Technologies Volatility and Allegheny Technologies Alpha and Beta module to complement your research on Allegheny Technologies. You can also try the Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
Complementary Tools for Allegheny Stock analysis
When running Allegheny Technologies' price analysis, check to measure Allegheny Technologies' 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 Allegheny Technologies is operating at the current time. Most of Allegheny Technologies' value examination focuses on studying past and present price action to predict the probability of Allegheny Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Allegheny Technologies' price. Additionally, you may evaluate how the addition of Allegheny Technologies to your portfolios can decrease your overall portfolio volatility.
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Allegheny Technologies 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.