Owens Corning Stock Market Value
| OC Stock | USD 205.62 0.52 0.25% |
| Symbol | Owens |
Owens Corning Price To Book Ratio
Is Building Products space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Owens Corning. If investors know Owens will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Owens Corning listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.02) | Dividend Share 2.4 | Earnings Share 11.78 | Revenue Per Share 119.235 | Quarterly Revenue Growth 0.229 |
The market value of Owens Corning is measured differently than its book value, which is the value of Owens that is recorded on the company's balance sheet. Investors also form their own opinion of Owens Corning's value that differs from its market value or its book value, called intrinsic value, which is Owens Corning's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Owens Corning's market value can be influenced by many factors that don't directly affect Owens Corning's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Owens Corning's value and its price as these two are different measures arrived at by different means. Investors typically determine if Owens Corning is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Owens Corning's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Owens Corning '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 Owens Corning'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 Owens Corning.
| 11/02/2024 |
| 12/02/2024 |
If you would invest 0.00 in Owens Corning on November 2, 2024 and sell it all today you would earn a total of 0.00 from holding Owens Corning or generate 0.0% return on investment in Owens Corning over 30 days. Owens Corning is related to or competes with Trane Technologies, Masco, Quanex Building, Jeld Wen, Azek, Trex, and Johnson Controls. Owens Corning manufactures and markets insulation, roofing, and fiberglass composite materials in the United States, Can... More
Owens Corning 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 Owens Corning'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 Owens Corning upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.78 | |||
| Information Ratio | 0.1144 | |||
| Maximum Drawdown | 8.81 | |||
| Value At Risk | (2.36) | |||
| Potential Upside | 3.38 |
Owens Corning Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Owens Corning's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Owens Corning's standard deviation. In reality, there are many statistical measures that can use Owens Corning historical prices to predict the future Owens Corning's volatility.| Risk Adjusted Performance | 0.1508 | |||
| Jensen Alpha | 0.1868 | |||
| Total Risk Alpha | 0.0315 | |||
| Sortino Ratio | 0.1177 | |||
| Treynor Ratio | 0.2866 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Owens Corning'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.
Owens Corning Backtested Returns
Owens Corning appears to be very steady, given 3 months investment horizon. Owens Corning maintains Sharpe Ratio (i.e., Efficiency) of 0.24, which implies the firm had a 0.24% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Owens Corning, which you can use to evaluate the volatility of the company. Please evaluate Owens Corning's Risk Adjusted Performance of 0.1508, semi deviation of 1.41, and Coefficient Of Variation of 527.37 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Owens Corning holds a performance score of 19. The company holds a Beta of 1.17, which implies 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, Owens Corning will likely underperform. Please check Owens Corning's jensen alpha, semi variance, day typical price, as well as the relationship between the maximum drawdown and accumulation distribution , to make a quick decision on whether Owens Corning's historical price patterns will revert.
Auto-correlation | 0.86 |
Very good predictability
Owens Corning has very good predictability. Overlapping area represents the amount of predictability between Owens Corning time series from 2nd of November 2024 to 17th of November 2024 and 17th of November 2024 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 Owens Corning price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Owens Corning price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.85 | |
| Residual Average | 0.0 | |
| Price Variance | 33.82 |
Owens Corning lagged returns against current returns
Autocorrelation, which is Owens Corning 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 Owens Corning's stock expected returns. We can calculate the autocorrelation of Owens Corning returns to help us make a trade decision. For example, suppose you find that Owens Corning 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 |
Owens Corning 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 Owens Corning stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Owens Corning stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Owens Corning stock over time.
Current vs Lagged Prices |
| Timeline |
Owens Corning Lagged Returns
When evaluating Owens Corning's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Owens Corning stock have on its future price. Owens Corning 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, Owens Corning autocorrelation shows the relationship between Owens Corning stock current value and its past values and can show if there is a momentum factor associated with investing in Owens Corning.
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.Check out Owens Corning Correlation, Owens Corning Volatility and Owens Corning Alpha and Beta module to complement your research on Owens Corning. For information on how to trade Owens Stock refer to our How to Trade Owens Stock guide.You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Owens Corning 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.