Goodyear Tire Rubber Stock Market Value
| GT Stock | USD 10.13 0.42 4.33% |
| Symbol | Goodyear |
Goodyear Tire Rubber Price To Book Ratio
Is Automobile 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 Goodyear Tire. If investors know Goodyear 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 Goodyear Tire 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 (0.66) | Earnings Share (1.04) | Revenue Per Share 66.656 | Quarterly Revenue Growth (0.06) | Return On Assets 0.0219 |
The market value of Goodyear Tire Rubber is measured differently than its book value, which is the value of Goodyear that is recorded on the company's balance sheet. Investors also form their own opinion of Goodyear Tire's value that differs from its market value or its book value, called intrinsic value, which is Goodyear Tire'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 Goodyear Tire's market value can be influenced by many factors that don't directly affect Goodyear Tire'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 Goodyear Tire's value and its price as these two are different measures arrived at by different means. Investors typically determine if Goodyear Tire is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Goodyear Tire'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.
Goodyear Tire '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 Goodyear Tire'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 Goodyear Tire.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Goodyear Tire on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Goodyear Tire Rubber or generate 0.0% return on investment in Goodyear Tire over 30 days. Goodyear Tire is related to or competes with Allison Transmission, Aptiv PLC, LKQ, Lear, Magna International, Dana, and Autoliv. The Goodyear Tire Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires a... More
Goodyear Tire 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 Goodyear Tire'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 Goodyear Tire Rubber upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.47 | |||
| Information Ratio | 0.0387 | |||
| Maximum Drawdown | 17.25 | |||
| Value At Risk | (4.07) | |||
| Potential Upside | 4.66 |
Goodyear Tire Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Goodyear Tire's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Goodyear Tire's standard deviation. In reality, there are many statistical measures that can use Goodyear Tire historical prices to predict the future Goodyear Tire's volatility.| Risk Adjusted Performance | 0.0705 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.24) | |||
| Sortino Ratio | 0.047 | |||
| Treynor Ratio | 0.1104 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Goodyear Tire's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Goodyear Tire Rubber Backtested Returns
Goodyear Tire appears to be somewhat reliable, given 3 months investment horizon. Goodyear Tire Rubber holds Efficiency (Sharpe) Ratio of 0.0724, which attests that the entity had a 0.0724% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Goodyear Tire Rubber, which you can use to evaluate the volatility of the firm. Please utilize Goodyear Tire's Market Risk Adjusted Performance of 0.1204, downside deviation of 2.47, and Risk Adjusted Performance of 0.0705 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Goodyear Tire holds a performance score of 5. The company retains a Market Volatility (i.e., Beta) of 2.15, which attests to 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, Goodyear Tire will likely underperform. Please check Goodyear Tire's expected short fall, and the relationship between the maximum drawdown and rate of daily change , to make a quick decision on whether Goodyear Tire's current trending patterns will revert.
Auto-correlation | 0.24 |
Weak predictability
Goodyear Tire Rubber has weak predictability. Overlapping area represents the amount of predictability between Goodyear Tire 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 Goodyear Tire Rubber price movement. The serial correlation of 0.24 indicates that over 24.0% of current Goodyear Tire price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 0.09 |
Goodyear Tire Rubber lagged returns against current returns
Autocorrelation, which is Goodyear Tire 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 Goodyear Tire's stock expected returns. We can calculate the autocorrelation of Goodyear Tire returns to help us make a trade decision. For example, suppose you find that Goodyear Tire 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 |
Goodyear Tire 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 Goodyear Tire stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Goodyear Tire stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Goodyear Tire stock over time.
Current vs Lagged Prices |
| Timeline |
Goodyear Tire Lagged Returns
When evaluating Goodyear Tire's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Goodyear Tire stock have on its future price. Goodyear Tire 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, Goodyear Tire autocorrelation shows the relationship between Goodyear Tire stock current value and its past values and can show if there is a momentum factor associated with investing in Goodyear Tire Rubber.
Regressed Prices |
| Timeline |
Thematic Opportunities
Explore Investment Opportunities
Additional Tools for Goodyear Stock Analysis
When running Goodyear Tire's price analysis, check to measure Goodyear Tire'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 Goodyear Tire is operating at the current time. Most of Goodyear Tire's value examination focuses on studying past and present price action to predict the probability of Goodyear Tire's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Goodyear Tire's price. Additionally, you may evaluate how the addition of Goodyear Tire to your portfolios can decrease your overall portfolio volatility.