Allete Inc Stock Market Value
| ALE Stock | USD 62.42 0.50 0.79% |
| Symbol | Allete |
Allete Inc Price To Book Ratio
Is Allete'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 Allete. If investors know Allete 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 Allete 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 (0.13) | Dividend Share 2.738 | Earnings Share 4.16 | Revenue Per Share 29.947 | Quarterly Revenue Growth (0.29) |
The market value of Allete Inc is measured differently than its book value, which is the value of Allete that is recorded on the company's balance sheet. Investors also form their own opinion of Allete's value that differs from its market value or its book value, called intrinsic value, which is Allete'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 Allete's market value can be influenced by many factors that don't directly affect Allete'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 Allete's value and its price as these two are different measures arrived at by different means. Investors typically determine if Allete is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Allete'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.
Allete '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 Allete'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 Allete.
| 02/28/2024 |
| 05/28/2024 |
If you would invest 0.00 in Allete on February 28, 2024 and sell it all today you would earn a total of 0.00 from holding Allete Inc or generate 0.0% return on investment in Allete over 90 days. Allete is related to or competes with Avista, Black Hills, Montauk Renewables, Companhia Paranaense, NorthWestern, Otter Tail, and AES. The company operates through Regulated Operations, ALLETE Clean Energy, and Corporate and Other segments More
Allete 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 Allete'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 Allete Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.01 | |||
| Information Ratio | 0.1046 | |||
| Maximum Drawdown | 7.62 | |||
| Value At Risk | (1.58) | |||
| Potential Upside | 2.09 |
Allete Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Allete's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Allete's standard deviation. In reality, there are many statistical measures that can use Allete historical prices to predict the future Allete's volatility.| Risk Adjusted Performance | 0.0892 | |||
| Jensen Alpha | 0.1402 | |||
| Total Risk Alpha | 0.0859 | |||
| Sortino Ratio | 0.1264 | |||
| Treynor Ratio | 0.2508 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Allete'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.
Allete Inc Backtested Returns
We consider Allete very steady. Allete Inc secures Sharpe Ratio (or Efficiency) of 0.16, which signifies that the company had a 0.16% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Allete Inc, which you can use to evaluate the volatility of the firm. Please confirm Allete's Risk Adjusted Performance of 0.0892, downside deviation of 1.01, and Mean Deviation of 0.8468 to double-check if the risk estimate we provide is consistent with the expected return of 0.19%. Allete has a performance score of 12 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.66, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Allete's returns are expected to increase less than the market. However, during the bear market, the loss of holding Allete is expected to be smaller as well. Allete Inc right now shows a risk of 1.21%. Please confirm Allete Inc jensen alpha, potential upside, accumulation distribution, as well as the relationship between the treynor ratio and expected short fall , to decide if Allete Inc will be following its price patterns.
Auto-correlation | 0.78 |
Good predictability
Allete Inc has good predictability. Overlapping area represents the amount of predictability between Allete time series from 28th of February 2024 to 13th of April 2024 and 13th of April 2024 to 28th 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 Allete Inc price movement. The serial correlation of 0.78 indicates that around 78.0% of current Allete price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.78 | |
| Spearman Rank Test | 0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 4.88 |
Allete Inc lagged returns against current returns
Autocorrelation, which is Allete 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 Allete's stock expected returns. We can calculate the autocorrelation of Allete returns to help us make a trade decision. For example, suppose you find that Allete 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 |
Allete 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 Allete stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Allete stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Allete stock over time.
Current vs Lagged Prices |
| Timeline |
Allete Lagged Returns
When evaluating Allete's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Allete stock have on its future price. Allete 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, Allete autocorrelation shows the relationship between Allete stock current value and its past values and can show if there is a momentum factor associated with investing in Allete Inc.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.When determining whether Allete Inc is a strong investment it is important to analyze Allete'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 Allete's future performance. For an informed investment choice regarding Allete Stock, refer to the following important reports:Check out Allete Correlation, Allete Volatility and Allete Alpha and Beta module to complement your research on Allete. You can also try the Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
Complementary Tools for Allete Stock analysis
When running Allete's price analysis, check to measure Allete'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 Allete is operating at the current time. Most of Allete's value examination focuses on studying past and present price action to predict the probability of Allete's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Allete's price. Additionally, you may evaluate how the addition of Allete to your portfolios can decrease your overall portfolio volatility.
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Allete 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.