Miller Industries Stock Market Value
| MLR Stock | USD 68.61 0.50 0.73% |
| Symbol | Miller |
Miller Industries Price To Book Ratio
Is Construction Machinery & Heavy Transportation 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 Miller Industries. If investors know Miller 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 Miller Industries 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 (0.12) | Dividend Share 0.76 | Earnings Share 5.58 | Revenue Per Share | Quarterly Revenue Growth 0.145 |
The market value of Miller Industries is measured differently than its book value, which is the value of Miller that is recorded on the company's balance sheet. Investors also form their own opinion of Miller Industries' value that differs from its market value or its book value, called intrinsic value, which is Miller Industries' 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 Miller Industries' market value can be influenced by many factors that don't directly affect Miller Industries' 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 Miller Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Miller Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Miller Industries' 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.
Miller Industries '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 Miller Industries' 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 Miller Industries.
| 12/31/2024 |
| 01/30/2025 |
If you would invest 0.00 in Miller Industries on December 31, 2024 and sell it all today you would earn a total of 0.00 from holding Miller Industries or generate 0.0% return on investment in Miller Industries over 30 days. Miller Industries is related to or competes with Dorman Products, Standard, Motorcar Parts, Douglas Dynamics, Stoneridge, Gentex, and Adient PLC. Miller Industries, Inc., together with its subsidiaries, manufactures and sells towing and recovery equipment More
Miller Industries 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 Miller Industries' 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 Miller Industries upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.57 | |||
| Information Ratio | 0.0305 | |||
| Maximum Drawdown | 19.15 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 3.15 |
Miller Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Miller Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Miller Industries' standard deviation. In reality, there are many statistical measures that can use Miller Industries historical prices to predict the future Miller Industries' volatility.| Risk Adjusted Performance | 0.0611 | |||
| Jensen Alpha | 0.0809 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0291 | |||
| Treynor Ratio | 0.1628 |
Miller Industries Backtested Returns
Currently, Miller Industries is very steady. Miller Industries has Sharpe Ratio of 0.0464, which conveys that the firm had a 0.0464 % return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Miller Industries, which you can use to evaluate the volatility of the firm. Please verify Miller Industries' Risk Adjusted Performance of 0.0611, downside deviation of 2.57, and Mean Deviation of 1.58 to check out if the risk estimate we provide is consistent with the expected return of 0.12%. Miller Industries has a performance score of 3 on a scale of 0 to 100. The company secures a Beta (Market Risk) of 0.92, which conveys possible diversification benefits within a given portfolio. Miller Industries returns are very sensitive to returns on the market. As the market goes up or down, Miller Industries is expected to follow. Miller Industries right now secures a risk of 2.49%. Please verify Miller Industries semi variance, and the relationship between the treynor ratio and daily balance of power , to decide if Miller Industries will be following its current price movements.
Auto-correlation | 0.50 |
Modest predictability
Miller Industries has modest predictability. Overlapping area represents the amount of predictability between Miller Industries time series from 31st of December 2024 to 15th of January 2025 and 15th of January 2025 to 30th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Miller Industries price movement. The serial correlation of 0.5 indicates that about 50.0% of current Miller Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 0.51 |
Miller Industries lagged returns against current returns
Autocorrelation, which is Miller Industries 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 Miller Industries' stock expected returns. We can calculate the autocorrelation of Miller Industries returns to help us make a trade decision. For example, suppose you find that Miller Industries 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 |
Miller Industries 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 Miller Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Miller Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Miller Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Miller Industries Lagged Returns
When evaluating Miller Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Miller Industries stock have on its future price. Miller Industries 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, Miller Industries autocorrelation shows the relationship between Miller Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Miller Industries.
Regressed Prices |
| Timeline |
Pair Trading with Miller Industries
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 Miller Industries 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 Miller Industries will appreciate offsetting losses from the drop in the long position's value.Moving against Miller Stock
| 0.4 | QS | Quantumscape Corp | PairCorr |
| 0.35 | JL | J Long Group Upward Rally | PairCorr |
| 0.33 | EM | Smart Share Global | PairCorr |
The ability to find closely correlated positions to Miller Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Miller Industries 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 Miller Industries - 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 Miller Industries to buy it.
The correlation of Miller Industries 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 Miller Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Miller Industries 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 Miller Industries 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 Miller Stock Analysis
When running Miller Industries' price analysis, check to measure Miller Industries' 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 Miller Industries is operating at the current time. Most of Miller Industries' value examination focuses on studying past and present price action to predict the probability of Miller Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Miller Industries' price. Additionally, you may evaluate how the addition of Miller Industries to your portfolios can decrease your overall portfolio volatility.