Eastman Chemical Stock Market Value
| EMN Stock | USD 105.59 1.99 1.92% |
| Symbol | Eastman |
Eastman Chemical Price To Book Ratio
Is Diversified Chemicals 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 Eastman Chemical. If investors know Eastman 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 Eastman Chemical 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 0.027 | Dividend Share 3.24 | Earnings Share 7.47 | Revenue Per Share 79.642 | Quarterly Revenue Growth 0.087 |
The market value of Eastman Chemical is measured differently than its book value, which is the value of Eastman that is recorded on the company's balance sheet. Investors also form their own opinion of Eastman Chemical's value that differs from its market value or its book value, called intrinsic value, which is Eastman Chemical'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 Eastman Chemical's market value can be influenced by many factors that don't directly affect Eastman Chemical'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 Eastman Chemical's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eastman Chemical is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eastman Chemical'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.
Eastman Chemical '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 Eastman Chemical'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 Eastman Chemical.
| 02/29/2024 |
| 11/25/2024 |
If you would invest 0.00 in Eastman Chemical on February 29, 2024 and sell it all today you would earn a total of 0.00 from holding Eastman Chemical or generate 0.0% return on investment in Eastman Chemical over 270 days. Eastman Chemical is related to or competes with Olin, Cabot, Kronos Worldwide, LyondellBasell Industries, Air Products, PPG Industries, and Linde Plc. Eastman Chemical Company operates as a specialty materials company in the United States and internationally More
Eastman Chemical 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 Eastman Chemical'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 Eastman Chemical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.37 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 7.31 | |||
| Value At Risk | (2.02) | |||
| Potential Upside | 2.78 |
Eastman Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eastman Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eastman Chemical's standard deviation. In reality, there are many statistical measures that can use Eastman Chemical historical prices to predict the future Eastman Chemical's volatility.| Risk Adjusted Performance | 0.0706 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.11) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.119 |
Eastman Chemical Backtested Returns
As of now, Eastman Stock is very steady. Eastman Chemical secures Sharpe Ratio (or Efficiency) of 0.0678, which denotes the company had a 0.0678% return per unit of risk over the last 3 months. We have found thirty technical indicators for Eastman Chemical, which you can use to evaluate the volatility of the firm. Please confirm Eastman Chemical's Mean Deviation of 1.11, coefficient of variation of 1163.6, and Downside Deviation of 1.37 to check if the risk estimate we provide is consistent with the expected return of 0.0979%. Eastman Chemical has a performance score of 5 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 0.96, which means possible diversification benefits within a given portfolio. Eastman Chemical returns are very sensitive to returns on the market. As the market goes up or down, Eastman Chemical is expected to follow. Eastman Chemical right now shows a risk of 1.44%. Please confirm Eastman Chemical skewness, and the relationship between the value at risk and day median price , to decide if Eastman Chemical will be following its price patterns.
Auto-correlation | 0.46 |
Average predictability
Eastman Chemical has average predictability. Overlapping area represents the amount of predictability between Eastman Chemical time series from 29th of February 2024 to 13th of July 2024 and 13th of July 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 Eastman Chemical price movement. The serial correlation of 0.46 indicates that about 46.0% of current Eastman Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.46 | |
| Spearman Rank Test | 0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 28.23 |
Eastman Chemical lagged returns against current returns
Autocorrelation, which is Eastman Chemical 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 Eastman Chemical's stock expected returns. We can calculate the autocorrelation of Eastman Chemical returns to help us make a trade decision. For example, suppose you find that Eastman Chemical 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 |
Eastman Chemical 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 Eastman Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eastman Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eastman Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Eastman Chemical Lagged Returns
When evaluating Eastman Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eastman Chemical stock have on its future price. Eastman Chemical 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, Eastman Chemical autocorrelation shows the relationship between Eastman Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Eastman Chemical.
Regressed Prices |
| Timeline |
Pair Trading with Eastman Chemical
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 Eastman Chemical 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 Eastman Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Eastman Stock
| 0.86 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
Moving against Eastman Stock
The ability to find closely correlated positions to Eastman Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eastman Chemical 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 Eastman Chemical - 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 Eastman Chemical to buy it.
The correlation of Eastman Chemical 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 Eastman Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eastman Chemical 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 Eastman Chemical 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 Eastman Chemical Correlation, Eastman Chemical Volatility and Eastman Chemical Alpha and Beta module to complement your research on Eastman Chemical. To learn how to invest in Eastman Stock, please use our How to Invest in Eastman Chemical guide.You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Eastman Chemical 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.