ALGOMA STEEL (Germany) Market Value
| 9ZY Stock | 10.00 0.10 0.99% |
| Symbol | ALGOMA |
ALGOMA 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 ALGOMA 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 ALGOMA STEEL.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in ALGOMA STEEL on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding ALGOMA STEEL GROUP or generate 0.0% return on investment in ALGOMA STEEL over 90 days. ALGOMA STEEL is related to or competes with ScanSource, Tower Semiconductor, LION ONE, PRECISION DRILLING, ELMOS SEMICONDUCTOR, BOSTON BEER, and Monster Beverage. More
ALGOMA 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 ALGOMA 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 ALGOMA STEEL GROUP upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.1 | |||
| Information Ratio | 0.0023 | |||
| Maximum Drawdown | 12.27 | |||
| Value At Risk | (3.35) | |||
| Potential Upside | 3.17 |
ALGOMA STEEL Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALGOMA STEEL's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALGOMA STEEL's standard deviation. In reality, there are many statistical measures that can use ALGOMA STEEL historical prices to predict the future ALGOMA STEEL's volatility.| Risk Adjusted Performance | 0.0536 | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | 0.0025 | |||
| Treynor Ratio | 0.0839 |
ALGOMA STEEL GROUP Backtested Returns
At this point, ALGOMA STEEL is not too volatile. ALGOMA STEEL GROUP secures Sharpe Ratio (or Efficiency) of 0.0486, which signifies that the company had a 0.0486% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for ALGOMA STEEL GROUP, which you can use to evaluate the volatility of the firm. Please confirm ALGOMA STEEL's Downside Deviation of 2.1, mean deviation of 1.72, and Risk Adjusted Performance of 0.0536 to double-check if the risk estimate we provide is consistent with the expected return of 0.11%. ALGOMA STEEL has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 1.58, which signifies 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, ALGOMA STEEL will likely underperform. ALGOMA STEEL GROUP at this time shows a risk of 2.34%. Please confirm ALGOMA STEEL GROUP jensen alpha, maximum drawdown, and the relationship between the coefficient of variation and sortino ratio , to decide if ALGOMA STEEL GROUP will be following its price patterns.
Auto-correlation | -0.45 |
Modest reverse predictability
ALGOMA STEEL GROUP has modest reverse predictability. Overlapping area represents the amount of predictability between ALGOMA STEEL time series from 1st of September 2024 to 16th of October 2024 and 16th of October 2024 to 30th of November 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 ALGOMA STEEL GROUP price movement. The serial correlation of -0.45 indicates that just about 45.0% of current ALGOMA STEEL price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.45 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.47 |
ALGOMA STEEL GROUP lagged returns against current returns
Autocorrelation, which is ALGOMA 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 ALGOMA STEEL's stock expected returns. We can calculate the autocorrelation of ALGOMA STEEL returns to help us make a trade decision. For example, suppose you find that ALGOMA 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 |
ALGOMA 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 ALGOMA STEEL stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALGOMA STEEL stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALGOMA STEEL stock over time.
Current vs Lagged Prices |
| Timeline |
ALGOMA STEEL Lagged Returns
When evaluating ALGOMA STEEL's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALGOMA STEEL stock have on its future price. ALGOMA 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, ALGOMA STEEL autocorrelation shows the relationship between ALGOMA STEEL stock current value and its past values and can show if there is a momentum factor associated with investing in ALGOMA STEEL GROUP.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in ALGOMA Stock
When determining whether ALGOMA STEEL GROUP is a strong investment it is important to analyze ALGOMA 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 ALGOMA STEEL's future performance. For an informed investment choice regarding ALGOMA Stock, refer to the following important reports:Check out ALGOMA STEEL Correlation, ALGOMA STEEL Volatility and ALGOMA STEEL Alpha and Beta module to complement your research on ALGOMA STEEL. You can also try the Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
ALGOMA 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.