Howmet Aerospace Stock Market Value
| HWM Stock | USD 116.98 1.12 0.95% |
| Symbol | Howmet |
Howmet Aerospace Price To Book Ratio
Is Aerospace & Defense 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 Howmet Aerospace. If investors know Howmet 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 Howmet Aerospace 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 0.8 | Dividend Share 0.23 | Earnings Share 2.6 | Revenue Per Share 17.775 | Quarterly Revenue Growth 0.107 |
The market value of Howmet Aerospace is measured differently than its book value, which is the value of Howmet that is recorded on the company's balance sheet. Investors also form their own opinion of Howmet Aerospace's value that differs from its market value or its book value, called intrinsic value, which is Howmet Aerospace'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 Howmet Aerospace's market value can be influenced by many factors that don't directly affect Howmet Aerospace'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 Howmet Aerospace's value and its price as these two are different measures arrived at by different means. Investors typically determine if Howmet Aerospace is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Howmet Aerospace'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.
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 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.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Howmet Aerospace on October 23, 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 Curtiss Wright, Mercury Systems, AAR Corp, Ducommun Incorporated, Moog, Northrop Grumman, and L3Harris Technologies. Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries in the Unit... 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 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 | 1.73 | |||
| Information Ratio | 0.119 | |||
| Maximum Drawdown | 15.6 | |||
| Value At Risk | (2.94) | |||
| Potential Upside | 2.46 |
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 | 0.1308 | |||
| Jensen Alpha | 0.166 | |||
| Total Risk Alpha | 0.0971 | |||
| Sortino Ratio | 0.1421 | |||
| Treynor Ratio | 0.171 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Howmet Aerospace'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.
Howmet Aerospace Backtested Returns
Howmet Aerospace appears to be very steady, given 3 months investment horizon. Howmet Aerospace holds Efficiency (Sharpe) Ratio of 0.15, which attests that the entity had a 0.15% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Howmet Aerospace, which you can use to evaluate the volatility of the firm. Please utilize Howmet Aerospace's Market Risk Adjusted Performance of 0.181, risk adjusted performance of 0.1308, and Downside Deviation of 1.73 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Howmet Aerospace holds a performance score of 12. The company retains a Market Volatility (i.e., Beta) of 1.94, 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, Howmet Aerospace will likely underperform. Please check Howmet Aerospace's downside variance, as well as the relationship between the daily balance of power and period momentum indicator , to make a quick decision on whether Howmet Aerospace's current trending patterns will revert.
Auto-correlation | 0.48 |
Average predictability
Howmet Aerospace has average predictability. Overlapping area represents the amount of predictability between Howmet Aerospace time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 0.48 indicates that about 48.0% of current Howmet Aerospace price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 4.29 |
Howmet Aerospace lagged returns against current returns
Autocorrelation, which is Howmet Aerospace 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 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 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 stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Howmet Aerospace 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 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 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 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 |
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Howmet Aerospace 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.