Alumina Limited Stock Market Value
| AWCMF Stock | USD 0.92 0.00 0.00% |
| Symbol | Alumina |
Alumina '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 Alumina's otc 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 Alumina.
| 06/28/2022 |
| 04/18/2024 |
If you would invest 0.00 in Alumina on June 28, 2022 and sell it all today you would earn a total of 0.00 from holding Alumina Limited or generate 0.0% return on investment in Alumina over 660 days. Alumina is related to or competes with Constellium, Alumina Limited, Kaiser Aluminum, and Century Aluminum. Alumina Limited, through its 40 percent interest in Alcoa World Alumina and Chemicals, engages in bauxite mining, alumin... More
Alumina 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 Alumina's otc 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 Alumina Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.146 | |||
| Maximum Drawdown | 23.72 | |||
| Value At Risk | (2.38) | |||
| Potential Upside | 5.71 |
Alumina Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alumina's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alumina's standard deviation. In reality, there are many statistical measures that can use Alumina historical prices to predict the future Alumina's volatility.| Risk Adjusted Performance | 0.1114 | |||
| Jensen Alpha | 0.5015 | |||
| Total Risk Alpha | 0.2718 | |||
| Treynor Ratio | (2.55) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alumina'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.
Alumina Limited Backtested Returns
Alumina appears to be extremely dangerous, given 3 months investment horizon. Alumina Limited secures Sharpe Ratio (or Efficiency) of 0.17, which signifies that the company had a 0.17% return per unit of risk over the last 3 months. By analyzing Alumina's technical indicators, you can evaluate if the expected return of 0.54% is justified by implied risk. Please makes use of Alumina's Risk Adjusted Performance of 0.1114, standard deviation of 3.06, and Mean Deviation of 1.45 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Alumina holds a performance score of 13. The firm shows a Beta (market volatility) of -0.19, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Alumina are expected to decrease at a much lower rate. During the bear market, Alumina is likely to outperform the market. Please check Alumina's jensen alpha, skewness, as well as the relationship between the Skewness and day typical price , to make a quick decision on whether Alumina's price patterns will revert.
Auto-correlation | -0.38 |
Poor reverse predictability
Alumina Limited has poor reverse predictability. Overlapping area represents the amount of predictability between Alumina time series from 28th of June 2022 to 24th of May 2023 and 24th of May 2023 to 18th 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 Alumina Limited price movement. The serial correlation of -0.38 indicates that just about 38.0% of current Alumina price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Alumina Limited lagged returns against current returns
Autocorrelation, which is Alumina otc 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 Alumina's otc stock expected returns. We can calculate the autocorrelation of Alumina returns to help us make a trade decision. For example, suppose you find that Alumina has exhibited high autocorrelation historically, and you observe that the otc 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 |
Alumina 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 Alumina otc stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alumina otc stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alumina otc stock over time.
Current vs Lagged Prices |
| Timeline |
Alumina Lagged Returns
When evaluating Alumina's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alumina otc stock have on its future price. Alumina 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, Alumina autocorrelation shows the relationship between Alumina otc stock current value and its past values and can show if there is a momentum factor associated with investing in Alumina Limited.
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 Alumina 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, Alumina's short interest history, or implied volatility extrapolated from Alumina options trading.
Pair Trading with Alumina
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 Alumina 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 Alumina will appreciate offsetting losses from the drop in the long position's value.Moving together with Alumina OTC Stock
| 0.81 | NHYDY | Norsk Hydro ASA Earnings Call This Week | PairCorr |
| 0.93 | ALMMF | Aluminumof China | PairCorr |
| 0.85 | ACHHY | Aluminum | PairCorr |
| 0.86 | CHHQF | China Hongqiao Group | PairCorr |
The ability to find closely correlated positions to Alumina could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alumina 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 Alumina - 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 Alumina Limited to buy it.
The correlation of Alumina 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 Alumina moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alumina Limited 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 Alumina 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 Alumina Correlation, Alumina Volatility and Alumina Alpha and Beta module to complement your research on Alumina. You can also try the AI Investment Finder module to use AI to screen and filter profitable investment opportunities.
Complementary Tools for Alumina OTC Stock analysis
When running Alumina's price analysis, check to measure Alumina'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 Alumina is operating at the current time. Most of Alumina's value examination focuses on studying past and present price action to predict the probability of Alumina's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alumina's price. Additionally, you may evaluate how the addition of Alumina to your portfolios can decrease your overall portfolio volatility.
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Alumina technical otc 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, otc market cycles, or different charting patterns.