Steel Connect Stock Forecast - Skewness
| STCN Stock | USD 10.25 0.04 0.39% |
Steel Stock Forecast is based on your current time horizon. Although Steel Connect's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Steel Connect's systematic risk associated with finding meaningful patterns of Steel Connect fundamentals over time.
Steel |
| Previous Skewness | Skewness | Trend |
| 0 | 0 |
| Check Steel Connect Volatility | Backtest Steel Connect | Trend Details |
Steel Connect Trading Date Momentum
| On November 26 2024 Steel Connect was traded for 10.29 at the closing time. The top price for the day was 10.29 and the lowest listed price was 9.64 . The trading volume for the day was 56.7 K. The trading history from November 26, 2024 was a factor to the next trading day price boost. The trading price change against the next closing price was 3.94% . The trading price change against the current closing price is 3.74% . |
| Compare Steel Connect to competition |
Other Forecasting Options for Steel Connect
For every potential investor in Steel, whether a beginner or expert, Steel Connect's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Steel Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Steel. Basic forecasting techniques help filter out the noise by identifying Steel Connect's price trends.View Steel Connect Related Equities
| Risk & Return | Correlation |
Steel Connect Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Steel Connect's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Steel Connect's current price.| Cycle Indicators | ||
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Steel Connect Market Strength Events
Market strength indicators help investors to evaluate how Steel Connect stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Steel Connect shares will generate the highest return on investment. By undertsting and applying Steel Connect stock market strength indicators, traders can identify Steel Connect entry and exit signals to maximize returns.
Steel Connect Risk Indicators
The analysis of Steel Connect's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Steel Connect's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting steel stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
| Mean Deviation | 2.27 | |||
| Standard Deviation | 3.1 | |||
| Variance | 9.63 |
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with Steel Connect
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 Steel Connect 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 Steel Connect will appreciate offsetting losses from the drop in the long position's value.Moving together with Steel Stock
Moving against Steel Stock
| 0.75 | B | Barnes Group | PairCorr |
| 0.73 | CRAI | CRA International | PairCorr |
| 0.71 | J | Jacobs Solutions | PairCorr |
| 0.62 | EVGOW | EVgo Equity Warrants | PairCorr |
| 0.61 | CTAS | Cintas | PairCorr |
The ability to find closely correlated positions to Steel Connect could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Steel Connect 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 Steel Connect - 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 Steel Connect to buy it.
The correlation of Steel Connect 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 Steel Connect moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Steel Connect 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 Steel Connect 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.Check out Historical Fundamental Analysis of Steel Connect to cross-verify your projections. To learn how to invest in Steel Stock, please use our How to Invest in Steel Connect guide.You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Is Data Processing & Outsourced Services 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 Steel Connect. If investors know Steel 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 Steel Connect 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 (0.20) | Earnings Share 3.11 | Revenue Per Share 28.001 | Quarterly Revenue Growth 0.124 | Return On Assets 0.0104 |
The market value of Steel Connect is measured differently than its book value, which is the value of Steel that is recorded on the company's balance sheet. Investors also form their own opinion of Steel Connect's value that differs from its market value or its book value, called intrinsic value, which is Steel Connect'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 Steel Connect's market value can be influenced by many factors that don't directly affect Steel Connect'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 Steel Connect's value and its price as these two are different measures arrived at by different means. Investors typically determine if Steel Connect is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Steel Connect'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.