RELIANCE STEEL (Germany) Market Value
| RS6 Stock | 289.50 1.10 0.38% |
| Symbol | RELIANCE |
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.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in RELIANCE STEEL on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding RELIANCE STEEL AL or generate 0.0% return on investment in RELIANCE STEEL over 30 days. RELIANCE STEEL is related to or competes with Apple, Apple, Apple, Apple, Microsoft, Microsoft, and Microsoft. 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 AL upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.24 | |||
| Information Ratio | 0.093 | |||
| Maximum Drawdown | 9.87 | |||
| Value At Risk | (1.85) | |||
| Potential Upside | 2.12 |
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.| Risk Adjusted Performance | 0.131 | |||
| Jensen Alpha | 0.1395 | |||
| Total Risk Alpha | 0.014 | |||
| Sortino Ratio | 0.1151 | |||
| Treynor Ratio | 0.2502 |
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.
RELIANCE STEEL AL Backtested Returns
RELIANCE STEEL appears to be very steady, given 3 months investment horizon. RELIANCE STEEL AL maintains Sharpe Ratio (i.e., Efficiency) of 0.18, which implies the firm had a 0.18% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for RELIANCE STEEL AL, which you can use to evaluate the volatility of the company. Please evaluate RELIANCE STEEL's semi deviation of 1.02, and Risk Adjusted Performance of 0.131 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 13. The company holds a Beta of 1.03, which implies a somewhat significant risk relative to the market. RELIANCE STEEL returns are very sensitive to returns on the market. As the market goes up or down, RELIANCE STEEL is expected to follow. Please check RELIANCE STEEL's semi variance, rate of daily change, and the relationship between the value at risk and kurtosis , to make a quick decision on whether RELIANCE STEEL's historical price patterns will revert.
Auto-correlation | -0.41 |
Modest reverse predictability
RELIANCE STEEL AL has modest reverse predictability. Overlapping area represents the amount of predictability between RELIANCE STEEL time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th of December 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 AL price movement. The serial correlation of -0.41 indicates that just about 41.0% of current RELIANCE STEEL price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 52.84 |
RELIANCE STEEL AL 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 |
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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 AL.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for RELIANCE Stock Analysis
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.