Howmet Aerospace Preferred Stock Market Value
| HWM-P Preferred Stock | USD 62.00 0.00 0.00% |
| Symbol | Howmet |
Howmet Aerospace '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 Howmet Aerospace's preferred 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 Howmet Aerospace.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Howmet Aerospace on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Howmet Aerospace or generate 0.0% return on investment in Howmet Aerospace over 30 days. Howmet Aerospace is related to or competes with E I, E I, Bank of America, and Compass Diversified. Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries More
Howmet Aerospace 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 Howmet Aerospace's preferred 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 Howmet Aerospace upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.41 | |||
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 9.58 | |||
| Value At Risk | (3.62) | |||
| Potential Upside | 2.67 |
Howmet Aerospace Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Howmet Aerospace's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Howmet Aerospace's standard deviation. In reality, there are many statistical measures that can use Howmet Aerospace historical prices to predict the future Howmet Aerospace's volatility.| Risk Adjusted Performance | 0.0107 | |||
| Jensen Alpha | (0.0003) | |||
| Total Risk Alpha | (0.25) | |||
| Sortino Ratio | (0.05) | |||
| Treynor Ratio | 0.0947 |
Howmet Aerospace Backtested Returns
Currently, Howmet Aerospace is very steady. Howmet Aerospace holds Efficiency (Sharpe) Ratio of 0.0072, which attests that the entity had a 0.0072% return per unit of risk over the last 3 months. We have found twenty-five technical indicators for Howmet Aerospace, which you can use to evaluate the volatility of the firm. Please check out Howmet Aerospace's Risk Adjusted Performance of 0.0107, downside deviation of 2.41, and Market Risk Adjusted Performance of 0.1047 to validate if the risk estimate we provide is consistent with the expected return of 0.0123%. The company retains a Market Volatility (i.e., Beta) of 0.0158, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Howmet Aerospace's returns are expected to increase less than the market. However, during the bear market, the loss of holding Howmet Aerospace is expected to be smaller as well. Howmet Aerospace right now retains a risk of 1.71%. Please check out Howmet Aerospace semi variance, and the relationship between the value at risk and kurtosis , to decide if Howmet Aerospace will be following its current trending patterns.
Auto-correlation | 0.72 |
Good predictability
Howmet Aerospace has good predictability. Overlapping area represents the amount of predictability between Howmet Aerospace time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Howmet Aerospace price movement. The serial correlation of 0.72 indicates that around 72.0% of current Howmet Aerospace price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 2.14 |
Howmet Aerospace lagged returns against current returns
Autocorrelation, which is Howmet Aerospace preferred 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 Howmet Aerospace's preferred stock expected returns. We can calculate the autocorrelation of Howmet Aerospace returns to help us make a trade decision. For example, suppose you find that Howmet Aerospace has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Howmet Aerospace 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 Howmet Aerospace preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Howmet Aerospace preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Howmet Aerospace preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Howmet Aerospace Lagged Returns
When evaluating Howmet Aerospace's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Howmet Aerospace preferred stock have on its future price. Howmet Aerospace 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, Howmet Aerospace autocorrelation shows the relationship between Howmet Aerospace preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Howmet Aerospace.
Regressed Prices |
| Timeline |
Pair Trading with Howmet Aerospace
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 Howmet Aerospace 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 Howmet Aerospace will appreciate offsetting losses from the drop in the long position's value.Moving against Howmet Preferred Stock
| 0.58 | AIR | AAR Corp | PairCorr |
| 0.53 | EVTL | Vertical Aerospace Trending | PairCorr |
| 0.38 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.32 | PL | Planet Labs PBC Earnings Call This Week | PairCorr |
| 0.31 | ERJ | Embraer SA ADR | PairCorr |
The ability to find closely correlated positions to Howmet Aerospace could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Howmet Aerospace 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 Howmet Aerospace - 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 Howmet Aerospace to buy it.
The correlation of Howmet Aerospace 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 Howmet Aerospace moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Howmet Aerospace 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 Howmet Aerospace 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 Howmet Preferred Stock Analysis
When running Howmet Aerospace's price analysis, check to measure Howmet Aerospace'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 Howmet Aerospace is operating at the current time. Most of Howmet Aerospace's value examination focuses on studying past and present price action to predict the probability of Howmet Aerospace's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Howmet Aerospace's price. Additionally, you may evaluate how the addition of Howmet Aerospace to your portfolios can decrease your overall portfolio volatility.