Prakash Steelage (India) Market Value
| PRAKASHSTL | 8.66 0.56 6.91% |
| Symbol | Prakash |
Prakash Steelage '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 Prakash Steelage'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 Prakash Steelage.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Prakash Steelage on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Prakash Steelage Limited or generate 0.0% return on investment in Prakash Steelage over 30 days. Prakash Steelage is related to or competes with NMDC, Steel Authority, Embassy Office, Gujarat Narmada, Gujarat Alkalies, Indian Metals, and JTL Industries. Prakash Steelage is entity of India. It is traded as Stock on NSE exchange. More
Prakash Steelage 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 Prakash Steelage'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 Prakash Steelage Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 15.57 | |||
| Value At Risk | (3.58) | |||
| Potential Upside | 3.89 |
Prakash Steelage Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Prakash Steelage's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Prakash Steelage's standard deviation. In reality, there are many statistical measures that can use Prakash Steelage historical prices to predict the future Prakash Steelage's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.50) | |||
| Treynor Ratio | (0.21) |
Prakash Steelage Backtested Returns
Prakash Steelage maintains Sharpe Ratio (i.e., Efficiency) of -0.0236, which implies the firm had a -0.0236% return per unit of risk over the last 3 months. Prakash Steelage exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Prakash Steelage's Variance of 6.78, risk adjusted performance of (0.02), and Coefficient Of Variation of (2,631) to confirm the risk estimate we provide. The company holds a Beta of 0.53, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Prakash Steelage's returns are expected to increase less than the market. However, during the bear market, the loss of holding Prakash Steelage is expected to be smaller as well. At this point, Prakash Steelage has a negative expected return of -0.0621%. Please make sure to check Prakash Steelage's potential upside, day median price, and the relationship between the treynor ratio and accumulation distribution , to decide if Prakash Steelage performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.58 |
Good reverse predictability
Prakash Steelage Limited has good reverse predictability. Overlapping area represents the amount of predictability between Prakash Steelage time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Prakash Steelage price movement. The serial correlation of -0.58 indicates that roughly 58.0% of current Prakash Steelage price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.58 | |
| Spearman Rank Test | 0.33 | |
| Residual Average | 0.0 | |
| Price Variance | 0.06 |
Prakash Steelage lagged returns against current returns
Autocorrelation, which is Prakash Steelage 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 Prakash Steelage's stock expected returns. We can calculate the autocorrelation of Prakash Steelage returns to help us make a trade decision. For example, suppose you find that Prakash Steelage 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 |
Prakash Steelage 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 Prakash Steelage stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Prakash Steelage stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Prakash Steelage stock over time.
Current vs Lagged Prices |
| Timeline |
Prakash Steelage Lagged Returns
When evaluating Prakash Steelage's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Prakash Steelage stock have on its future price. Prakash Steelage 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, Prakash Steelage autocorrelation shows the relationship between Prakash Steelage stock current value and its past values and can show if there is a momentum factor associated with investing in Prakash Steelage Limited.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Prakash Stock
Prakash Steelage financial ratios help investors to determine whether Prakash Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Prakash with respect to the benefits of owning Prakash Steelage security.