Thermon Group Holdings Stock Math Transform Inverse Tangent Over Price Movement
| THR Stock | USD 28.85 0.23 0.80% |
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The output start index for this execution was zero with a total number of output elements of sixty-one. Thermon Group Holdings Inverse Tangent Over Price Movement function is an inverse trigonometric method to describe Thermon Group price patterns.
Thermon Group Technical Analysis Modules
Most technical analysis of Thermon Group help investors determine whether a current trend will continue and, if not, when it will shift. We provide a combination of tools to recognize potential entry and exit points for Thermon from various momentum indicators to cycle indicators. When you analyze Thermon charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
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About Thermon Group Predictive Technical Analysis
Predictive technical analysis modules help investors to analyze different prices and returns patterns as well as diagnose historical swings to determine the real value of Thermon Group Holdings. We use our internally-developed statistical techniques to arrive at the intrinsic value of Thermon Group Holdings based on widely used predictive technical indicators. In general, we focus on analyzing Thermon Stock price patterns and their correlations with different microeconomic environment and drivers. We also apply predictive analytics to build Thermon Group's daily price indicators and compare them against related drivers, such as math transform and various other types of predictive indicators. Using this methodology combined with a more conventional technical analysis and fundamental analysis, we attempt to find the most accurate representation of Thermon Group's intrinsic value. In addition to deriving basic predictive indicators for Thermon Group, we also check how macroeconomic factors affect Thermon Group price patterns. Please read more on our technical analysis page or use our predictive modules below to complement your research.
| 2023 | 2024 (projected) | Dividend Yield | 0.0134 | 0.0118 | Price To Sales Ratio | 2.24 | 2.45 |
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Thermon Group Holdings pair trading
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.Thermon Group Pair Trading
Thermon Group Holdings Pair Trading Analysis
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.