Reliance Steel Aluminum Stock Market Value

RS Stock  USD 334.18  2.72  0.81%   
Reliance Steel's market value is the price at which a share of Reliance Steel trades on a public exchange. It measures the collective expectations of Reliance Steel Aluminum investors about its performance. Reliance Steel is selling for under 334.18 as of the 29th of March 2024; that is -0.81 percent decrease since the beginning of the trading day. The stock's lowest day price was 333.22.
With this module, you can estimate the performance of a buy and hold strategy of Reliance Steel Aluminum and determine expected loss or profit from investing in Reliance Steel over a given investment horizon. Check out Reliance Steel Correlation, Reliance Steel Volatility and Reliance Steel Alpha and Beta module to complement your research on Reliance Steel.
Symbol

Reliance Steel Aluminum Price To Book Ratio

Is Reliance Steel'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 Reliance Steel. If investors know Reliance 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 Reliance Steel 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
(0.20)
Dividend Share
4
Earnings Share
22.64
Revenue Per Share
253.839
Quarterly Revenue Growth
(0.08)
The market value of Reliance Steel Aluminum is measured differently than its book value, which is the value of Reliance that is recorded on the company's balance sheet. Investors also form their own opinion of Reliance Steel's value that differs from its market value or its book value, called intrinsic value, which is Reliance Steel'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 Reliance Steel's market value can be influenced by many factors that don't directly affect Reliance Steel'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 Reliance Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Reliance Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Reliance Steel'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.

Reliance Steel '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 Reliance Steel'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 Reliance Steel.
0.00
06/03/2023
No Change 0.00  0.0 
In 9 months and 27 days
03/29/2024
0.00
If you would invest  0.00  in Reliance Steel on June 3, 2023 and sell it all today you would earn a total of 0.00 from holding Reliance Steel Aluminum or generate 0.0% return on investment in Reliance Steel over 300 days. Reliance Steel is related to or competes with Ternium SA, Metallus, Webco Industries, Cleveland Cliffs, Commercial Metals, Friedman Industries, and Hongli Group. Reliance Steel Aluminum Co. operates as a diversified metal solutions provider and the metals service center company in ... More

Reliance Steel 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 Reliance Steel'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 Reliance Steel Aluminum upside and downside potential and time the market with a certain degree of confidence.

Reliance Steel Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Reliance Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Reliance Steel's standard deviation. In reality, there are many statistical measures that can use Reliance Steel historical prices to predict the future Reliance Steel's volatility.
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Reliance Steel'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.
Hype
Prediction
LowEstimatedHigh
332.19334.18336.17
Details
Intrinsic
Valuation
LowRealHigh
238.62240.61367.60
Details
Naive
Forecast
LowNextHigh
344.85346.84348.83
Details
7 Analysts
Consensus
LowTargetHigh
266.63293.00325.23
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Reliance Steel. Your research has to be compared to or analyzed against Reliance Steel's peers to derive any actionable benefits. When done correctly, Reliance Steel's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Reliance Steel Aluminum.

Reliance Steel Aluminum Backtested Returns

Reliance Steel appears to be very steady, given 3 months investment horizon. Reliance Steel Aluminum maintains Sharpe Ratio (i.e., Efficiency) of 0.15, which implies the firm had a 0.15% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Reliance Steel Aluminum, which you can use to evaluate the volatility of the company. Please evaluate Reliance Steel's Risk Adjusted Performance of 0.0866, semi deviation of 0.9186, and Coefficient Of Variation of 699.48 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Reliance Steel holds a performance score of 11. The company holds a Beta of 1.99, which implies 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, Reliance Steel will likely underperform. Please check Reliance Steel's value at risk, as well as the relationship between the kurtosis and price action indicator , to make a quick decision on whether Reliance Steel's historical price patterns will revert.

Auto-correlation

    
  -0.4  

Poor reverse predictability

Reliance Steel Aluminum has poor reverse predictability. Overlapping area represents the amount of predictability between Reliance Steel time series from 3rd of June 2023 to 31st of October 2023 and 31st of October 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 Reliance Steel Aluminum price movement. The serial correlation of -0.4 indicates that just about 40.0% of current Reliance Steel price fluctuation can be explain by its past prices.
Correlation Coefficient-0.4
Spearman Rank Test-0.19
Residual Average0.0
Price Variance549.78

Reliance Steel Aluminum lagged returns against current returns

Autocorrelation, which is Reliance Steel 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 Reliance Steel's stock expected returns. We can calculate the autocorrelation of Reliance Steel returns to help us make a trade decision. For example, suppose you find that Reliance Steel 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  

Reliance Steel 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 Reliance Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Reliance Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Reliance Steel stock over time.
   Current vs Lagged Prices   
       Timeline  

Reliance Steel Lagged Returns

When evaluating Reliance Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Reliance Steel stock have on its future price. Reliance Steel 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, Reliance Steel autocorrelation shows the relationship between Reliance Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Reliance Steel Aluminum.
   Regressed Prices   
       Timeline  

Reliance Steel Investors Sentiment

The influence of Reliance Steel's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Reliance. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Reliance Steel's public news can be used to forecast risks associated with an investment in Reliance. The trend in average sentiment can be used to explain how an investor holding Reliance can time the market purely based on public headlines and social activities around Reliance Steel Aluminum. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Reliance Steel's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Reliance Steel's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Reliance Steel's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Reliance Steel.
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 Reliance Steel 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, Reliance Steel's short interest history, or implied volatility extrapolated from Reliance Steel options trading.

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When determining whether Reliance Steel Aluminum is a strong investment it is important to analyze Reliance Steel's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Reliance Steel's future performance. For an informed investment choice regarding Reliance Stock, refer to the following important reports:
Check out Reliance Steel Correlation, Reliance Steel Volatility and Reliance Steel Alpha and Beta module to complement your research on Reliance Steel.
You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.

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When running Reliance Steel's price analysis, check to measure Reliance Steel'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 Reliance Steel is operating at the current time. Most of Reliance Steel's value examination focuses on studying past and present price action to predict the probability of Reliance Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Reliance Steel's price. Additionally, you may evaluate how the addition of Reliance Steel to your portfolios can decrease your overall portfolio volatility.
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Reliance Steel 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.
A focus of Reliance Steel technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Reliance Steel trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...