Albany International Stock Market Value
| AIN Stock | USD 86.24 1.46 1.72% |
| Symbol | Albany |
Albany International Price To Book Ratio
Is Industrial Machinery & Supplies & Components 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 Albany International. If investors know Albany 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 Albany International 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 (0.34) | Dividend Share 1.04 | Earnings Share 3.2 | Revenue Per Share 40.587 | Quarterly Revenue Growth 0.061 |
The market value of Albany International is measured differently than its book value, which is the value of Albany that is recorded on the company's balance sheet. Investors also form their own opinion of Albany International's value that differs from its market value or its book value, called intrinsic value, which is Albany International'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 Albany International's market value can be influenced by many factors that don't directly affect Albany International'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 Albany International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Albany International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Albany International'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.
Albany International '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 Albany International'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 Albany International.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Albany International on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Albany International or generate 0.0% return on investment in Albany International over 30 days. Albany International is related to or competes with Culp, Unifi, and Toray Industries. Albany International Corp., together with its subsidiaries, engages in the textile and materials processing business More
Albany International 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 Albany International'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 Albany International upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 13.55 | |||
| Value At Risk | (4.00) | |||
| Potential Upside | 2.73 |
Albany International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Albany International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Albany International's standard deviation. In reality, there are many statistical measures that can use Albany International historical prices to predict the future Albany International's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (0.02) |
Albany International Backtested Returns
Albany International secures Sharpe Ratio (or Efficiency) of -0.0332, which signifies that the company had a -0.0332% return per unit of standard deviation over the last 3 months. Albany International exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Albany International's mean deviation of 1.71, and Risk Adjusted Performance of (0.01) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.12, which signifies 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, Albany International will likely underperform. At this point, Albany International has a negative expected return of -0.0849%. Please make sure to confirm Albany International's standard deviation, kurtosis, relative strength index, as well as the relationship between the maximum drawdown and day median price , to decide if Albany International performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.82 |
Very good predictability
Albany International has very good predictability. Overlapping area represents the amount of predictability between Albany International time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Albany International price movement. The serial correlation of 0.82 indicates that around 82.0% of current Albany International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.41 | |
| Residual Average | 0.0 | |
| Price Variance | 3.03 |
Albany International lagged returns against current returns
Autocorrelation, which is Albany International 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 Albany International's stock expected returns. We can calculate the autocorrelation of Albany International returns to help us make a trade decision. For example, suppose you find that Albany International 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 |
Albany International 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 Albany International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Albany International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Albany International stock over time.
Current vs Lagged Prices |
| Timeline |
Albany International Lagged Returns
When evaluating Albany International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Albany International stock have on its future price. Albany International 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, Albany International autocorrelation shows the relationship between Albany International stock current value and its past values and can show if there is a momentum factor associated with investing in Albany International.
Regressed Prices |
| Timeline |
Pair Trading with Albany International
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 Albany International 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 Albany International will appreciate offsetting losses from the drop in the long position's value.Moving against Albany Stock
The ability to find closely correlated positions to Albany International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Albany International 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 Albany International - 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 Albany International to buy it.
The correlation of Albany International 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 Albany International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Albany International 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 Albany International 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 Albany International Correlation, Albany International Volatility and Albany International Alpha and Beta module to complement your research on Albany International. To learn how to invest in Albany Stock, please use our How to Invest in Albany International guide.You can also try the Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Albany International 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.