Worthington Industries Stock Market Value
| WOR Stock | USD 39.57 0.96 2.49% |
| Symbol | Worthington |
Worthington Industries Price To Book Ratio
Is Metals & Mining 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 Worthington Industries. If investors know Worthington 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 Worthington 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 (0.75) | Dividend Share 0.81 | Earnings Share 0.64 | Revenue Per Share 24.133 | Quarterly Revenue Growth (0.17) |
The market value of Worthington Industries is measured differently than its book value, which is the value of Worthington that is recorded on the company's balance sheet. Investors also form their own opinion of Worthington Industries' value that differs from its market value or its book value, called intrinsic value, which is Worthington 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 Worthington Industries' market value can be influenced by many factors that don't directly affect Worthington 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 Worthington Industries' value and its price as these two are different measures arrived at by different means. Investors typically determine if Worthington Industries is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Worthington 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.
Worthington 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 Worthington 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 Worthington Industries.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in Worthington Industries on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding Worthington Industries or generate 0.0% return on investment in Worthington Industries over 360 days. Worthington Industries is related to or competes with Allegheny Technologies, Haynes International, ESAB Corp, Insteel Industries, Mayville Engineering, Ryerson Holding, and Carpenter Technology. Worthington Industries, Inc., an industrial manufacturing company, focuses on value-added steel processing, manufactured... More
Worthington 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 Worthington 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 Worthington Industries upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 13.44 | |||
| Value At Risk | (4.76) | |||
| Potential Upside | 2.65 |
Worthington Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Worthington Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Worthington Industries' standard deviation. In reality, there are many statistical measures that can use Worthington Industries historical prices to predict the future Worthington Industries' volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (0.09) |
Worthington Industries Backtested Returns
Worthington Industries shows Sharpe Ratio of -0.0905, which attests that the company had a -0.0905% return per unit of risk over the last 3 months. Worthington Industries exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Worthington Industries' Mean Deviation of 1.66, market risk adjusted performance of (0.08), and Standard Deviation of 2.41 to validate the risk estimate we provide. The firm maintains a market beta of 2.11, which attests to 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, Worthington Industries will likely underperform. At this point, Worthington Industries has a negative expected return of -0.22%. Please make sure to check out Worthington Industries' value at risk, rate of daily change, as well as the relationship between the Rate Of Daily Change and relative strength index , to decide if Worthington Industries performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.58 |
Good reverse predictability
Worthington Industries has good reverse predictability. Overlapping area represents the amount of predictability between Worthington Industries time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd 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 Worthington Industries price movement. The serial correlation of -0.58 indicates that roughly 58.0% of current Worthington Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.58 | |
| Spearman Rank Test | -0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 21.06 |
Worthington Industries lagged returns against current returns
Autocorrelation, which is Worthington 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 Worthington Industries' stock expected returns. We can calculate the autocorrelation of Worthington Industries returns to help us make a trade decision. For example, suppose you find that Worthington 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 |
Worthington 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 Worthington Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Worthington Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Worthington Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Worthington Industries Lagged Returns
When evaluating Worthington Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Worthington Industries stock have on its future price. Worthington 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, Worthington Industries autocorrelation shows the relationship between Worthington Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Worthington Industries.
Regressed Prices |
| Timeline |
Pair Trading with Worthington 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 Worthington 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 Worthington Industries will appreciate offsetting losses from the drop in the long position's value.Moving together with Worthington Stock
Moving against Worthington Stock
| 0.75 | CMPOW | CompoSecure | PairCorr |
| 0.75 | CMPO | CompoSecure | PairCorr |
| 0.71 | B | Barnes Group | PairCorr |
| 0.68 | J | Jacobs Solutions | PairCorr |
| 0.6 | HAYN | Haynes International | PairCorr |
The ability to find closely correlated positions to Worthington 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 Worthington 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 Worthington 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 Worthington Industries to buy it.
The correlation of Worthington 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 Worthington Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worthington 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 Worthington 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 Worthington Stock Analysis
When running Worthington Industries' price analysis, check to measure Worthington 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 Worthington Industries is operating at the current time. Most of Worthington Industries' value examination focuses on studying past and present price action to predict the probability of Worthington Industries' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Worthington Industries' price. Additionally, you may evaluate how the addition of Worthington Industries to your portfolios can decrease your overall portfolio volatility.