Thermon Group Holdings Stock Market Value
| THR Stock | USD 31.56 0.14 0.44% |
| Symbol | Thermon |
Thermon Group Holdings Price To Book Ratio
Is Electrical Components & Equipment 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 Thermon Group. If investors know Thermon 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 Thermon Group 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 (0.35) | Earnings Share 1.29 | Revenue Per Share 14.661 | Quarterly Revenue Growth (0.07) | Return On Assets 0.0628 |
The market value of Thermon Group Holdings is measured differently than its book value, which is the value of Thermon that is recorded on the company's balance sheet. Investors also form their own opinion of Thermon Group's value that differs from its market value or its book value, called intrinsic value, which is Thermon Group'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 Thermon Group's market value can be influenced by many factors that don't directly affect Thermon Group'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 Thermon Group's value and its price as these two are different measures arrived at by different means. Investors typically determine if Thermon Group is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Thermon Group'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.
Thermon Group '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 Thermon Group'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 Thermon Group.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Thermon Group on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Thermon Group Holdings or generate 0.0% return on investment in Thermon Group over 30 days. Thermon Group is related to or competes with Hurco Companies, Enerpac Tool, Enpro Industries, Omega Flex, Gorman Rupp, Franklin Electric, and Kadant. Thermon Group Holdings, Inc. provides engineered industrial process heating solutions for process industries worldwide More
Thermon Group 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 Thermon Group'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 Thermon Group Holdings upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.95 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 11.24 | |||
| Value At Risk | (2.67) | |||
| Potential Upside | 3.32 |
Thermon Group Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thermon Group's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thermon Group's standard deviation. In reality, there are many statistical measures that can use Thermon Group historical prices to predict the future Thermon Group's volatility.| Risk Adjusted Performance | 0.0373 | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0382 |
Thermon Group Holdings Backtested Returns
Currently, Thermon Group Holdings is very steady. Thermon Group Holdings owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0763, which indicates the firm had a 0.0763% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Thermon Group Holdings, which you can use to evaluate the volatility of the company. Please validate Thermon Group's Coefficient Of Variation of 2484.48, risk adjusted performance of 0.0373, and Semi Deviation of 1.87 to confirm if the risk estimate we provide is consistent with the expected return of 0.15%. Thermon Group has a performance score of 6 on a scale of 0 to 100. The entity has a beta of 2.05, which indicates 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, Thermon Group will likely underperform. Thermon Group Holdings right now has a risk of 1.99%. Please validate Thermon Group sortino ratio, as well as the relationship between the semi variance and rate of daily change , to decide if Thermon Group will be following its existing price patterns.
Auto-correlation | 0.76 |
Good predictability
Thermon Group Holdings has good predictability. Overlapping area represents the amount of predictability between Thermon Group time series from 31st of October 2024 to 15th of November 2024 and 15th of November 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 Thermon Group Holdings price movement. The serial correlation of 0.76 indicates that around 76.0% of current Thermon Group price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.76 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.5 |
Thermon Group Holdings lagged returns against current returns
Autocorrelation, which is Thermon Group 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 Thermon Group's stock expected returns. We can calculate the autocorrelation of Thermon Group returns to help us make a trade decision. For example, suppose you find that Thermon Group 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 |
Thermon Group 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 Thermon Group stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thermon Group stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thermon Group stock over time.
Current vs Lagged Prices |
| Timeline |
Thermon Group Lagged Returns
When evaluating Thermon Group's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thermon Group stock have on its future price. Thermon Group 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, Thermon Group autocorrelation shows the relationship between Thermon Group stock current value and its past values and can show if there is a momentum factor associated with investing in Thermon Group Holdings.
Regressed Prices |
| Timeline |
Pair Trading with Thermon Group
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Thermon Group position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Thermon Group will appreciate offsetting losses from the drop in the long position's value.Moving together with Thermon Stock
The ability to find closely correlated positions to Thermon Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Thermon Group when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Thermon Group - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Thermon Group Holdings to buy it.
The correlation of Thermon Group is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Thermon Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Thermon Group Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Thermon Group can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Thermon Stock Analysis
When running Thermon Group's price analysis, check to measure Thermon Group's 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 Thermon Group is operating at the current time. Most of Thermon Group's value examination focuses on studying past and present price action to predict the probability of Thermon Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Thermon Group's price. Additionally, you may evaluate how the addition of Thermon Group to your portfolios can decrease your overall portfolio volatility.