KENNAMETAL INC (Germany) Market Value
| KM3 Stock | EUR 26.80 0.20 0.74% |
| Symbol | KENNAMETAL |
KENNAMETAL INC '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 KENNAMETAL INC'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 KENNAMETAL INC.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in KENNAMETAL INC on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding KENNAMETAL INC or generate 0.0% return on investment in KENNAMETAL INC over 720 days. KENNAMETAL INC is related to or competes with TOTAL GABON, and Walgreens Boots. More
KENNAMETAL INC 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 KENNAMETAL INC'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 KENNAMETAL INC upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.84 | |||
| Information Ratio | 0.0471 | |||
| Maximum Drawdown | 23.34 | |||
| Value At Risk | (2.17) | |||
| Potential Upside | 2.67 |
KENNAMETAL INC Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KENNAMETAL INC's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KENNAMETAL INC's standard deviation. In reality, there are many statistical measures that can use KENNAMETAL INC historical prices to predict the future KENNAMETAL INC's volatility.| Risk Adjusted Performance | 0.0828 | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.19) | |||
| Sortino Ratio | 0.0678 | |||
| Treynor Ratio | 0.0978 |
KENNAMETAL INC Backtested Returns
KENNAMETAL INC appears to be very steady, given 3 months investment horizon. KENNAMETAL INC has Sharpe Ratio of 0.0998, which conveys that the firm had a 0.0998% return per unit of volatility over the last 3 months. We have found twenty-seven technical indicators for KENNAMETAL INC, which you can use to evaluate the volatility of the firm. Please exercise KENNAMETAL INC's risk adjusted performance of 0.0828, and Mean Deviation of 1.49 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, KENNAMETAL INC holds a performance score of 7. The company secures a Beta (Market Risk) of 2.58, 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, KENNAMETAL INC will likely underperform. Please check KENNAMETAL INC's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether KENNAMETAL INC's current price movements will revert.
Auto-correlation | -0.53 |
Good reverse predictability
KENNAMETAL INC has good reverse predictability. Overlapping area represents the amount of predictability between KENNAMETAL INC time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 KENNAMETAL INC price movement. The serial correlation of -0.53 indicates that about 53.0% of current KENNAMETAL INC price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.53 | |
| Spearman Rank Test | -0.14 | |
| Residual Average | 0.0 | |
| Price Variance | 2.08 |
KENNAMETAL INC lagged returns against current returns
Autocorrelation, which is KENNAMETAL INC 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 KENNAMETAL INC's stock expected returns. We can calculate the autocorrelation of KENNAMETAL INC returns to help us make a trade decision. For example, suppose you find that KENNAMETAL INC 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 |
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KENNAMETAL INC 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 KENNAMETAL INC stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KENNAMETAL INC stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KENNAMETAL INC stock over time.
Current vs Lagged Prices |
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KENNAMETAL INC Lagged Returns
When evaluating KENNAMETAL INC's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KENNAMETAL INC stock have on its future price. KENNAMETAL INC 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, KENNAMETAL INC autocorrelation shows the relationship between KENNAMETAL INC stock current value and its past values and can show if there is a momentum factor associated with investing in KENNAMETAL 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.Other Information on Investing in KENNAMETAL Stock
KENNAMETAL INC financial ratios help investors to determine whether KENNAMETAL Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in KENNAMETAL with respect to the benefits of owning KENNAMETAL INC security.