Reliance Steel (Germany) Market Value
| RS6 Stock | EUR 306.00 1.50 0.49% |
| Symbol | Reliance |
Reliance Steel '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 Reliance Steel'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 Reliance Steel.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Reliance Steel on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Reliance Steel Aluminum or generate 0.0% return on investment in Reliance Steel over 30 days. Reliance Steel is related to or competes with Nippon Steel, POSCO Holdings, Toyota Tsusho, and . Reliance Steel Aluminum Co. operates as a metals service center company More
Reliance Steel 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 Reliance Steel'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 Reliance Steel Aluminum upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.68 | |||
| Information Ratio | 0.0917 | |||
| Maximum Drawdown | 13.51 | |||
| Value At Risk | (2.17) | |||
| Potential Upside | 2.94 |
Reliance Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Reliance Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Reliance Steel's standard deviation. In reality, there are many statistical measures that can use Reliance Steel historical prices to predict the future Reliance Steel's volatility.| Risk Adjusted Performance | 0.1219 | |||
| Jensen Alpha | 0.2867 | |||
| Total Risk Alpha | (0.01) | |||
| Sortino Ratio | 0.1157 | |||
| Treynor Ratio | 1.54 |
Reliance Steel Aluminum Backtested Returns
Reliance Steel appears to be very steady, given 3 months investment horizon. Reliance Steel Aluminum maintains Sharpe Ratio (i.e., Efficiency) of 0.14, which implies the firm had a 0.14% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Reliance Steel Aluminum, which you can use to evaluate the volatility of the company. Please evaluate Reliance Steel's Coefficient Of Variation of 663.14, semi deviation of 1.36, and Risk Adjusted Performance of 0.1219 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Reliance Steel holds a performance score of 10. The company holds a Beta of 0.2, which implies not very significant fluctuations relative to the market. As returns on the market increase, Reliance Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Reliance Steel is expected to be smaller as well. Please check Reliance Steel's sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether Reliance Steel's historical price patterns will revert.
Auto-correlation | 0.96 |
Excellent predictability
Reliance Steel Aluminum has excellent predictability. Overlapping area represents the amount of predictability between Reliance Steel 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 Reliance Steel Aluminum price movement. The serial correlation of 0.96 indicates that 96.0% of current Reliance Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.96 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 42.49 |
Reliance Steel Aluminum lagged returns against current returns
Autocorrelation, which is Reliance Steel 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 Reliance Steel's stock expected returns. We can calculate the autocorrelation of Reliance Steel returns to help us make a trade decision. For example, suppose you find that Reliance Steel 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 |
Reliance Steel 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 Reliance Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Reliance Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Reliance Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Reliance Steel Lagged Returns
When evaluating Reliance Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Reliance Steel stock have on its future price. Reliance Steel 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, Reliance Steel autocorrelation shows the relationship between Reliance Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Reliance Steel Aluminum.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Reliance Stock
When determining whether Reliance Steel Aluminum is a strong investment it is important to analyze Reliance Steel's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Reliance Steel's future performance. For an informed investment choice regarding Reliance Stock, refer to the following important reports:Check out Reliance Steel Correlation, Reliance Steel Volatility and Reliance Steel Alpha and Beta module to complement your research on Reliance Steel. You can also try the Stocks Directory module to find actively traded stocks across global markets.
Reliance Steel 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.