Steelcast (India) Market Value
| STEELCAS | 774.45 12.50 1.59% |
| Symbol | Steelcast |
Steelcast '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 Steelcast'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 Steelcast.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in Steelcast on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding Steelcast Limited or generate 0.0% return on investment in Steelcast over 180 days. Steelcast is related to or competes with Embassy Office, Gujarat Narmada, Gujarat Alkalies, JTL Industries, and India Glycols. Steelcast is entity of India. It is traded as Stock on NSE exchange. More
Steelcast 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 Steelcast'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 Steelcast Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.32 | |||
| Information Ratio | 0.0611 | |||
| Maximum Drawdown | 15.44 | |||
| Value At Risk | (3.66) | |||
| Potential Upside | 5.1 |
Steelcast Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Steelcast's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Steelcast's standard deviation. In reality, there are many statistical measures that can use Steelcast historical prices to predict the future Steelcast's volatility.| Risk Adjusted Performance | 0.0888 | |||
| Jensen Alpha | 0.3193 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0741 | |||
| Treynor Ratio | (1.21) |
Steelcast Limited Backtested Returns
Steelcast appears to be very steady, given 3 months investment horizon. Steelcast Limited owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.1, which indicates the firm had a 0.1% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Steelcast Limited, which you can use to evaluate the volatility of the company. Please review Steelcast's Risk Adjusted Performance of 0.0888, semi deviation of 2.15, and Coefficient Of Variation of 937.63 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Steelcast holds a performance score of 8. The entity has a beta of -0.24, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Steelcast are expected to decrease at a much lower rate. During the bear market, Steelcast is likely to outperform the market. Please check Steelcast's jensen alpha, semi variance, day typical price, as well as the relationship between the maximum drawdown and accumulation distribution , to make a quick decision on whether Steelcast's existing price patterns will revert.
Auto-correlation | 0.54 |
Modest predictability
Steelcast Limited has modest predictability. Overlapping area represents the amount of predictability between Steelcast time series from 31st of May 2024 to 29th of August 2024 and 29th of August 2024 to 27th 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 Steelcast Limited price movement. The serial correlation of 0.54 indicates that about 54.0% of current Steelcast price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 1173.47 |
Steelcast Limited lagged returns against current returns
Autocorrelation, which is Steelcast 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 Steelcast's stock expected returns. We can calculate the autocorrelation of Steelcast returns to help us make a trade decision. For example, suppose you find that Steelcast 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 |
Steelcast 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 Steelcast stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Steelcast stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Steelcast stock over time.
Current vs Lagged Prices |
| Timeline |
Steelcast Lagged Returns
When evaluating Steelcast's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Steelcast stock have on its future price. Steelcast 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, Steelcast autocorrelation shows the relationship between Steelcast stock current value and its past values and can show if there is a momentum factor associated with investing in Steelcast 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 Steelcast Stock
Steelcast financial ratios help investors to determine whether Steelcast 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 Steelcast with respect to the benefits of owning Steelcast security.