Miller Industries Stock Market Value
MLR Stock | USD 50.15 0.84 1.70% |
Symbol | Miller |
Miller Industries Price To Book Ratio
Is Miller Industries' 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 Miller Industries. If investors know Miller 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 Miller Industries 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 0.793 | Dividend Share 0.72 | Earnings Share 5.07 | Revenue Per Share 100.827 | Quarterly Revenue Growth 0.312 |
The market value of Miller Industries is measured differently than its book value, which is the value of Miller that is recorded on the company's balance sheet. Investors also form their own opinion of Miller Industries' value that differs from its market value or its book value, called intrinsic value, which is Miller Industries' 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 Miller Industries' market value can be influenced by many factors that don't directly affect Miller Industries' 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 Miller Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Miller Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Miller Industries' 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.
Miller Industries '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 Miller Industries' 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 Miller Industries.
02/27/2024 |
| 03/28/2024 |
If you would invest 0.00 in Miller Industries on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Miller Industries or generate 0.0% return on investment in Miller Industries over 30 days. Miller Industries is related to or competes with 1847 Holdings, NN, Falcons Beyond, Brookfield Business, China Yuchai, FTAI Infrastructure, and Greenbrier Companies. Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment More
Miller Industries 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 Miller Industries' 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 Miller Industries upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.66 | |||
Information Ratio | 0.0704 | |||
Maximum Drawdown | 14.36 | |||
Value At Risk | (2.18) | |||
Potential Upside | 3.04 |
Miller Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Miller Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Miller Industries' standard deviation. In reality, there are many statistical measures that can use Miller Industries historical prices to predict the future Miller Industries' volatility.Risk Adjusted Performance | 0.0824 | |||
Jensen Alpha | 0.0039 | |||
Total Risk Alpha | (0.19) | |||
Sortino Ratio | 0.0877 | |||
Treynor Ratio | 0.1261 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Miller Industries' 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.
Miller Industries Backtested Returns
Miller Industries appears to be very steady, given 3 months investment horizon. Miller Industries has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Miller Industries, which you can use to evaluate the volatility of the firm. Please exercise Miller Industries' Risk Adjusted Performance of 0.0824, mean deviation of 1.36, and Downside Deviation of 1.66 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Miller Industries holds a performance score of 11. The company secures a Beta (Market Risk) of 2.14, which conveys 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, Miller Industries will likely underperform. Please check Miller Industries' semi variance, and the relationship between the treynor ratio and daily balance of power , to make a quick decision on whether Miller Industries' current price movements will revert.
Auto-correlation | 0.68 |
Good predictability
Miller Industries has good predictability. Overlapping area represents the amount of predictability between Miller Industries time series from 27th of February 2024 to 13th of March 2024 and 13th of March 2024 to 28th 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 Miller Industries price movement. The serial correlation of 0.68 indicates that around 68.0% of current Miller Industries price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.68 | |
Spearman Rank Test | 0.61 | |
Residual Average | 0.0 | |
Price Variance | 0.97 |
Miller Industries lagged returns against current returns
Autocorrelation, which is Miller Industries 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 Miller Industries' stock expected returns. We can calculate the autocorrelation of Miller Industries returns to help us make a trade decision. For example, suppose you find that Miller Industries 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 |
Miller Industries 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 Miller Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Miller Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Miller Industries stock over time.
Current vs Lagged Prices |
Timeline |
Miller Industries Lagged Returns
When evaluating Miller Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Miller Industries stock have on its future price. Miller Industries 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, Miller Industries autocorrelation shows the relationship between Miller Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Miller Industries.
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 Miller Industries 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, Miller Industries' short interest history, or implied volatility extrapolated from Miller Industries options trading.
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Complementary Tools for Miller Stock analysis
When running Miller Industries' price analysis, check to measure Miller Industries' 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 Miller Industries is operating at the current time. Most of Miller Industries' value examination focuses on studying past and present price action to predict the probability of Miller Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Miller Industries' price. Additionally, you may evaluate how the addition of Miller Industries to your portfolios can decrease your overall portfolio volatility.
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Miller Industries 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.