Millcon Steel (Thailand) Market Value
| MILL Stock | THB 0.09 0.01 10.00% |
| Symbol | Millcon |
Millcon 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 Millcon 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 Millcon Steel.
| 12/24/2022 |
| 12/13/2024 |
If you would invest 0.00 in Millcon Steel on December 24, 2022 and sell it all today you would earn a total of 0.00 from holding Millcon Steel Public or generate 0.0% return on investment in Millcon Steel over 720 days. Millcon Steel is related to or competes with Thantawan Industry, Erawan, Jay Mart, Airports, Eastern Technical, Gunkul Engineering, and Dcon Products. Millcon Steel Public Company Limited manufactures and trades in steel products in Thailand and internationally More
Millcon 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 Millcon 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 Millcon Steel Public upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 10.76 | |||
| Information Ratio | 0.0032 | |||
| Maximum Drawdown | 51.52 | |||
| Value At Risk | (10.00) | |||
| Potential Upside | 11.11 |
Millcon Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Millcon Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Millcon Steel's standard deviation. In reality, there are many statistical measures that can use Millcon Steel historical prices to predict the future Millcon Steel's volatility.| Risk Adjusted Performance | 0.0216 | |||
| Jensen Alpha | 0.0052 | |||
| Total Risk Alpha | (0.99) | |||
| Sortino Ratio | 0.0023 | |||
| Treynor Ratio | 0.1061 |
Millcon Steel Public Backtested Returns
Millcon Steel Public has Sharpe Ratio of -0.034, which conveys that the firm had a -0.034% return per unit of risk over the last 3 months. Millcon Steel exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Millcon Steel's Risk Adjusted Performance of 0.0216, mean deviation of 4.51, and Downside Deviation of 10.76 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 1.2, 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, Millcon Steel will likely underperform. At this point, Millcon Steel Public has a negative expected return of -0.24%. Please make sure to verify Millcon Steel's standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to decide if Millcon Steel Public performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.94 |
Excellent predictability
Millcon Steel Public has excellent predictability. Overlapping area represents the amount of predictability between Millcon Steel time series from 24th of December 2022 to 19th of December 2023 and 19th of December 2023 to 13th 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 Millcon Steel Public price movement. The serial correlation of 0.94 indicates that approximately 94.0% of current Millcon Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.94 | |
| Spearman Rank Test | 0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Millcon Steel Public lagged returns against current returns
Autocorrelation, which is Millcon 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 Millcon Steel's stock expected returns. We can calculate the autocorrelation of Millcon Steel returns to help us make a trade decision. For example, suppose you find that Millcon 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 |
Millcon 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 Millcon Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Millcon Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Millcon Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Millcon Steel Lagged Returns
When evaluating Millcon Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Millcon Steel stock have on its future price. Millcon 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, Millcon Steel autocorrelation shows the relationship between Millcon Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Millcon Steel Public.
Regressed Prices |
| Timeline |
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Millcon Steel financial ratios help investors to determine whether Millcon 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 Millcon with respect to the benefits of owning Millcon Steel security.