Zenith Steel (India) Market Value
| ZENITHSTL | 9.04 0.03 0.33% |
| Symbol | Zenith |
Zenith 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 Zenith 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 Zenith Steel.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Zenith Steel on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Zenith Steel Pipes or generate 0.0% return on investment in Zenith Steel over 30 days. Zenith Steel is related to or competes with NMDC, Steel Authority, Embassy Office, Gujarat Narmada, Gujarat Alkalies, Indian Metals, and JTL Industries. Zenith Steel is entity of India. It is traded as Stock on NSE exchange. More
Zenith 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 Zenith 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 Zenith Steel Pipes upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.19 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 10.03 | |||
| Value At Risk | (3.45) | |||
| Potential Upside | 4.94 |
Zenith Steel Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Zenith Steel's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Zenith Steel's standard deviation. In reality, there are many statistical measures that can use Zenith Steel historical prices to predict the future Zenith Steel's volatility.| Risk Adjusted Performance | 0.0283 | |||
| Jensen Alpha | 0.0514 | |||
| Total Risk Alpha | (0.30) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 1.33 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Zenith Steel's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Zenith Steel Pipes Backtested Returns
Zenith Steel Pipes shows Sharpe Ratio of -0.013, which attests that the company had a -0.013% return per unit of risk over the last 3 months. Zenith Steel Pipes exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Zenith Steel's Mean Deviation of 1.92, market risk adjusted performance of 1.34, and Downside Deviation of 2.19 to validate the risk estimate we provide. The firm maintains a market beta of 0.0422, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Zenith Steel's returns are expected to increase less than the market. However, during the bear market, the loss of holding Zenith Steel is expected to be smaller as well. At this point, Zenith Steel Pipes has a negative expected return of -0.031%. Please make sure to check out Zenith Steel's potential upside, as well as the relationship between the kurtosis and day typical price , to decide if Zenith Steel Pipes performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.09 |
Very weak reverse predictability
Zenith Steel Pipes has very weak reverse predictability. Overlapping area represents the amount of predictability between Zenith Steel 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 Zenith Steel Pipes price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Zenith Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Zenith Steel Pipes lagged returns against current returns
Autocorrelation, which is Zenith 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 Zenith Steel's stock expected returns. We can calculate the autocorrelation of Zenith Steel returns to help us make a trade decision. For example, suppose you find that Zenith 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 |
Zenith 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 Zenith Steel stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Zenith Steel stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Zenith Steel stock over time.
Current vs Lagged Prices |
| Timeline |
Zenith Steel Lagged Returns
When evaluating Zenith Steel's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Zenith Steel stock have on its future price. Zenith 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, Zenith Steel autocorrelation shows the relationship between Zenith Steel stock current value and its past values and can show if there is a momentum factor associated with investing in Zenith Steel Pipes.
Regressed Prices |
| Timeline |
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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.Additional Tools for Zenith Stock Analysis
When running Zenith Steel's price analysis, check to measure Zenith Steel'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 Zenith Steel is operating at the current time. Most of Zenith Steel's value examination focuses on studying past and present price action to predict the probability of Zenith Steel's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zenith Steel's price. Additionally, you may evaluate how the addition of Zenith Steel to your portfolios can decrease your overall portfolio volatility.