Red Rock Resorts Stock Market Value
| RRR Stock | USD 50.49 0.36 0.71% |
| Symbol | Red |
Red Rock Resorts Price To Book Ratio
Is Hotels, Restaurants & Leisure 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 Red Rock. If investors know Red 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 Red Rock 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 (0.19) | Dividend Share 1 | Earnings Share 2.72 | Revenue Per Share 32.44 | Quarterly Revenue Growth 0.137 |
The market value of Red Rock Resorts is measured differently than its book value, which is the value of Red that is recorded on the company's balance sheet. Investors also form their own opinion of Red Rock's value that differs from its market value or its book value, called intrinsic value, which is Red Rock'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 Red Rock's market value can be influenced by many factors that don't directly affect Red Rock'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 Red Rock's value and its price as these two are different measures arrived at by different means. Investors typically determine if Red Rock is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Red Rock'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.
Red Rock '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 Red Rock'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 Red Rock.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Red Rock on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Red Rock Resorts or generate 0.0% return on investment in Red Rock over 30 days. Red Rock is related to or competes with Golden Entertainment, Century Casinos, Studio City, Ballys Corp, Monarch Casino, Full House, and Caesars Entertainment. Red Rock Resorts, Inc., through its interest in Station Holdco and Station LLC, develops and operates casino and enterta... More
Red Rock 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 Red Rock'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 Red Rock Resorts upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 12.47 | |||
| Value At Risk | (3.09) | |||
| Potential Upside | 2.69 |
Red Rock Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Red Rock's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Red Rock's standard deviation. In reality, there are many statistical measures that can use Red Rock historical prices to predict the future Red Rock's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.06) |
Red Rock Resorts Backtested Returns
Red Rock Resorts maintains Sharpe Ratio (i.e., Efficiency) of -0.0832, which implies the firm had a -0.0832% return per unit of risk over the last 3 months. Red Rock Resorts exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Red Rock's Risk Adjusted Performance of (0.03), variance of 3.89, and Coefficient Of Variation of (2,242) to confirm the risk estimate we provide. The company holds a Beta of 1.56, which implies 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, Red Rock will likely underperform. At this point, Red Rock Resorts has a negative expected return of -0.16%. Please make sure to check Red Rock's coefficient of variation, value at risk, as well as the relationship between the Value At Risk and rate of daily change , to decide if Red Rock Resorts performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.13 |
Insignificant predictability
Red Rock Resorts has insignificant predictability. Overlapping area represents the amount of predictability between Red Rock time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Red Rock Resorts price movement. The serial correlation of 0.13 indicates that less than 13.0% of current Red Rock price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.13 | |
| Spearman Rank Test | -0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 0.93 |
Red Rock Resorts lagged returns against current returns
Autocorrelation, which is Red Rock 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 Red Rock's stock expected returns. We can calculate the autocorrelation of Red Rock returns to help us make a trade decision. For example, suppose you find that Red Rock 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 |
Red Rock 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 Red Rock stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Red Rock stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Red Rock stock over time.
Current vs Lagged Prices |
| Timeline |
Red Rock Lagged Returns
When evaluating Red Rock's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Red Rock stock have on its future price. Red Rock 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, Red Rock autocorrelation shows the relationship between Red Rock stock current value and its past values and can show if there is a momentum factor associated with investing in Red Rock Resorts.
Regressed Prices |
| Timeline |
Pair Trading with Red Rock
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 Red Rock 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 Red Rock will appreciate offsetting losses from the drop in the long position's value.Moving against Red Stock
| 0.73 | EVRI | Everi Holdings | PairCorr |
| 0.66 | AGS | PlayAGS | PairCorr |
| 0.66 | EAT | Brinker International | PairCorr |
| 0.62 | CMG | Chipotle Mexican Grill Sell-off Trend | PairCorr |
| 0.61 | PLYA | Playa Hotels Resorts | PairCorr |
The ability to find closely correlated positions to Red Rock could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Red Rock 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 Red Rock - 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 Red Rock Resorts to buy it.
The correlation of Red Rock 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 Red Rock moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Red Rock Resorts 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 Red Rock 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 Red Stock Analysis
When running Red Rock's price analysis, check to measure Red Rock'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 Red Rock is operating at the current time. Most of Red Rock's value examination focuses on studying past and present price action to predict the probability of Red Rock's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Red Rock's price. Additionally, you may evaluate how the addition of Red Rock to your portfolios can decrease your overall portfolio volatility.