Manaksia Steels (India) Market Value
| MANAKSTEEL | 64.32 1.03 1.58% |
| Symbol | Manaksia |
Manaksia Steels '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 Manaksia Steels' 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 Manaksia Steels.
| 09/13/2024 |
| 12/12/2024 |
If you would invest 0.00 in Manaksia Steels on September 13, 2024 and sell it all today you would earn a total of 0.00 from holding Manaksia Steels Limited or generate 0.0% return on investment in Manaksia Steels over 90 days. Manaksia Steels is related to or competes with NMDC, Steel Authority, Embassy Office, Gujarat Narmada, Gujarat Alkalies, Indian Metals, and JTL Industries. Manaksia Steels is entity of India. It is traded as Stock on NSE exchange. More
Manaksia Steels 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 Manaksia Steels' 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 Manaksia Steels Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.19 | |||
| Information Ratio | 0.0669 | |||
| Maximum Drawdown | 15.3 | |||
| Value At Risk | (4.07) | |||
| Potential Upside | 5.31 |
Manaksia Steels Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Manaksia Steels' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Manaksia Steels' standard deviation. In reality, there are many statistical measures that can use Manaksia Steels historical prices to predict the future Manaksia Steels' volatility.| Risk Adjusted Performance | 0.0852 | |||
| Jensen Alpha | 0.2555 | |||
| Total Risk Alpha | (0.17) | |||
| Sortino Ratio | 0.0938 | |||
| Treynor Ratio | 0.5692 |
Manaksia Steels Backtested Returns
Manaksia Steels appears to be very steady, given 3 months investment horizon. Manaksia Steels has Sharpe Ratio of 0.0801, which conveys that the firm had a 0.0801% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Manaksia Steels, which you can use to evaluate the volatility of the firm. Please exercise Manaksia Steels' Risk Adjusted Performance of 0.0852, downside deviation of 2.19, and Mean Deviation of 2.16 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Manaksia Steels holds a performance score of 6. The company secures a Beta (Market Risk) of 0.56, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Manaksia Steels' returns are expected to increase less than the market. However, during the bear market, the loss of holding Manaksia Steels is expected to be smaller as well. Please check Manaksia Steels' treynor ratio, kurtosis, relative strength index, as well as the relationship between the downside variance and day median price , to make a quick decision on whether Manaksia Steels' current price movements will revert.
Auto-correlation | -0.37 |
Poor reverse predictability
Manaksia Steels Limited has poor reverse predictability. Overlapping area represents the amount of predictability between Manaksia Steels time series from 13th of September 2024 to 28th of October 2024 and 28th of October 2024 to 12th 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 Manaksia Steels price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Manaksia Steels price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 7.19 |
Manaksia Steels lagged returns against current returns
Autocorrelation, which is Manaksia Steels 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 Manaksia Steels' stock expected returns. We can calculate the autocorrelation of Manaksia Steels returns to help us make a trade decision. For example, suppose you find that Manaksia Steels 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 |
Manaksia Steels 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 Manaksia Steels stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Manaksia Steels stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Manaksia Steels stock over time.
Current vs Lagged Prices |
| Timeline |
Manaksia Steels Lagged Returns
When evaluating Manaksia Steels' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Manaksia Steels stock have on its future price. Manaksia Steels 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, Manaksia Steels autocorrelation shows the relationship between Manaksia Steels stock current value and its past values and can show if there is a momentum factor associated with investing in Manaksia Steels Limited.
Regressed Prices |
| Timeline |
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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.Additional Tools for Manaksia Stock Analysis
When running Manaksia Steels' price analysis, check to measure Manaksia Steels' 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 Manaksia Steels is operating at the current time. Most of Manaksia Steels' value examination focuses on studying past and present price action to predict the probability of Manaksia Steels' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Manaksia Steels' price. Additionally, you may evaluate how the addition of Manaksia Steels to your portfolios can decrease your overall portfolio volatility.