Atkore International Group Stock Market Value
| ATKR Stock | USD 94.61 4.92 5.49% |
| Symbol | Atkore |
Atkore International 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 Atkore International. If investors know Atkore 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 Atkore 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 (0.35) | Earnings Share 12.69 | Revenue Per Share 88.762 | Quarterly Revenue Growth (0.10) | Return On Assets 0.1543 |
The market value of Atkore International is measured differently than its book value, which is the value of Atkore that is recorded on the company's balance sheet. Investors also form their own opinion of Atkore International's value that differs from its market value or its book value, called intrinsic value, which is Atkore 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 Atkore International's market value can be influenced by many factors that don't directly affect Atkore 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 Atkore International's value and its price as these two are different measures arrived at by different means. Investors typically determine if Atkore International is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Atkore 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.
Atkore 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 Atkore 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 Atkore International.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Atkore International on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Atkore International Group or generate 0.0% return on investment in Atkore International over 30 days. Atkore International is related to or competes with Hubbell, Enersys, Advanced Energy, NVent Electric, Kimball Electronics, Vertiv Holdings, and Energizer Holdings. Atkore Inc. manufactures and sells electrical, safety, and infrastructure products in the United States and internationa... More
Atkore 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 Atkore 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 Atkore International Group upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 22.18 | |||
| Value At Risk | (2.72) | |||
| Potential Upside | 4.03 |
Atkore International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Atkore International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Atkore International's standard deviation. In reality, there are many statistical measures that can use Atkore International historical prices to predict the future Atkore International's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.56) | |||
| Treynor Ratio | (0.04) |
Atkore International Backtested Returns
Currently, Atkore International Group is very steady. Atkore International secures Sharpe Ratio (or Efficiency) of 0.0211, which signifies that the company had a 0.0211% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Atkore International Group, which you can use to evaluate the volatility of the firm. Please confirm Atkore International's Mean Deviation of 1.96, risk adjusted performance of (0.01), and Standard Deviation of 2.94 to double-check if the risk estimate we provide is consistent with the expected return of 0.0616%. Atkore International has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 2.55, 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, Atkore International will likely underperform. Atkore International right now shows a risk of 2.92%. Please confirm Atkore International treynor ratio, as well as the relationship between the accumulation distribution and price action indicator , to decide if Atkore International will be following its price patterns.
Auto-correlation | -0.59 |
Good reverse predictability
Atkore International Group has good reverse predictability. Overlapping area represents the amount of predictability between Atkore International time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Atkore International price movement. The serial correlation of -0.59 indicates that roughly 59.0% of current Atkore International price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.59 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 14.48 |
Atkore International lagged returns against current returns
Autocorrelation, which is Atkore 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 Atkore International's stock expected returns. We can calculate the autocorrelation of Atkore International returns to help us make a trade decision. For example, suppose you find that Atkore 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 |
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Atkore 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 Atkore International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Atkore International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Atkore International stock over time.
Current vs Lagged Prices |
| Timeline |
Atkore International Lagged Returns
When evaluating Atkore International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Atkore International stock have on its future price. Atkore 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, Atkore International autocorrelation shows the relationship between Atkore International stock current value and its past values and can show if there is a momentum factor associated with investing in Atkore International Group.
Regressed Prices |
| Timeline |
Pair Trading with Atkore 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 Atkore 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 Atkore International will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Atkore 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 Atkore 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 Atkore 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 Atkore International Group to buy it.
The correlation of Atkore 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 Atkore International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Atkore 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 Atkore 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.Additional Tools for Atkore Stock Analysis
When running Atkore International's price analysis, check to measure Atkore International'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 Atkore International is operating at the current time. Most of Atkore International's value examination focuses on studying past and present price action to predict the probability of Atkore International's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Atkore International's price. Additionally, you may evaluate how the addition of Atkore International to your portfolios can decrease your overall portfolio volatility.