Azz Incorporated Stock Market Value
AZZ Stock | USD 77.31 0.08 0.10% |
Symbol | AZZ |
AZZ Incorporated Price To Book Ratio
Is AZZ Incorporated's industry 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 AZZ Incorporated. If investors know AZZ 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 AZZ Incorporated 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 0.02 | Dividend Share 0.68 | Earnings Share 3.02 | Revenue Per Share 60.318 | Quarterly Revenue Growth 0.022 |
The market value of AZZ Incorporated is measured differently than its book value, which is the value of AZZ that is recorded on the company's balance sheet. Investors also form their own opinion of AZZ Incorporated's value that differs from its market value or its book value, called intrinsic value, which is AZZ Incorporated'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 AZZ Incorporated's market value can be influenced by many factors that don't directly affect AZZ Incorporated'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 AZZ Incorporated's value and its price as these two are different measures arrived at by different means. Investors typically determine if AZZ Incorporated is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, AZZ Incorporated'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.
AZZ Incorporated '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 AZZ Incorporated'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 AZZ Incorporated.
04/04/2023 |
| 03/29/2024 |
If you would invest 0.00 in AZZ Incorporated on April 4, 2023 and sell it all today you would earn a total of 0.00 from holding AZZ Incorporated or generate 0.0% return on investment in AZZ Incorporated over 360 days. AZZ Incorporated is related to or competes with Target Hospitality, Network 1, ABM Industries, ARC Document, CBIZ, Dolby Laboratories, and Global Payments. AZZ Inc. offers galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and engineer... More
AZZ Incorporated 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 AZZ Incorporated'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 AZZ Incorporated upside and downside potential and time the market with a certain degree of confidence.
Downside Deviation | 1.63 | |||
Information Ratio | 0.1956 | |||
Maximum Drawdown | 10.9 | |||
Value At Risk | (2.36) | |||
Potential Upside | 3.48 |
AZZ Incorporated Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for AZZ Incorporated's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as AZZ Incorporated's standard deviation. In reality, there are many statistical measures that can use AZZ Incorporated historical prices to predict the future AZZ Incorporated's volatility.Risk Adjusted Performance | 0.1578 | |||
Jensen Alpha | 0.2264 | |||
Total Risk Alpha | 0.073 | |||
Sortino Ratio | 0.2133 | |||
Treynor Ratio | 0.24 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of AZZ Incorporated'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.
AZZ Incorporated Backtested Returns
AZZ Incorporated appears to be very steady, given 3 months investment horizon. AZZ Incorporated secures Sharpe Ratio (or Efficiency) of 0.28, which signifies that the company had a 0.28% return per unit of volatility over the last 3 months. By examining AZZ Incorporated's technical indicators, you can evaluate if the expected return of 0.51% is justified by implied risk. Please makes use of AZZ Incorporated's risk adjusted performance of 0.1578, and Mean Deviation of 1.32 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, AZZ Incorporated holds a performance score of 21. The firm shows a Beta (market volatility) of 1.97, which signifies 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, AZZ Incorporated will likely underperform. Please check AZZ Incorporated's sortino ratio, semi variance, as well as the relationship between the Semi Variance and rate of daily change , to make a quick decision on whether AZZ Incorporated's price patterns will revert.
Auto-correlation | 0.92 |
Excellent predictability
AZZ Incorporated has excellent predictability. Overlapping area represents the amount of predictability between AZZ Incorporated time series from 4th of April 2023 to 1st of October 2023 and 1st of October 2023 to 29th of March 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 AZZ Incorporated price movement. The serial correlation of 0.92 indicates that approximately 92.0% of current AZZ Incorporated price fluctuation can be explain by its past prices.
Correlation Coefficient | 0.92 | |
Spearman Rank Test | 0.88 | |
Residual Average | 0.0 | |
Price Variance | 117.76 |
AZZ Incorporated lagged returns against current returns
Autocorrelation, which is AZZ Incorporated 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 AZZ Incorporated's stock expected returns. We can calculate the autocorrelation of AZZ Incorporated returns to help us make a trade decision. For example, suppose you find that AZZ Incorporated 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 |
AZZ Incorporated 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 AZZ Incorporated stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if AZZ Incorporated stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in AZZ Incorporated stock over time.
Current vs Lagged Prices |
Timeline |
AZZ Incorporated Lagged Returns
When evaluating AZZ Incorporated's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of AZZ Incorporated stock have on its future price. AZZ Incorporated 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, AZZ Incorporated autocorrelation shows the relationship between AZZ Incorporated stock current value and its past values and can show if there is a momentum factor associated with investing in AZZ Incorporated.
Regressed Prices |
Timeline |
Pair Trading with AZZ Incorporated
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 AZZ Incorporated 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 AZZ Incorporated will appreciate offsetting losses from the drop in the long position's value.Moving against AZZ Stock
0.89 | LICN | Lichen China Limited Report 6th of May 2024 | PairCorr |
0.85 | ARC | ARC Document Solutions Financial Report 1st of May 2024 | PairCorr |
0.77 | BA | Boeing Fiscal Quarter End 31st of March 2024 | PairCorr |
0.73 | THWWW | Target Hospitality Corp | PairCorr |
0.57 | NTIP | Network-1 Technologies Report 4th of April 2024 | PairCorr |
The ability to find closely correlated positions to AZZ Incorporated could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AZZ Incorporated 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 AZZ Incorporated - 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 AZZ Incorporated to buy it.
The correlation of AZZ Incorporated 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 AZZ Incorporated moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AZZ Incorporated 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 AZZ Incorporated 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.Check out AZZ Incorporated Correlation, AZZ Incorporated Volatility and AZZ Incorporated Alpha and Beta module to complement your research on AZZ Incorporated. For more information on how to buy AZZ Stock please use our How to Invest in AZZ Incorporated guide.Note that the AZZ Incorporated information on this page should be used as a complementary analysis to other AZZ Incorporated's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Complementary Tools for AZZ Stock analysis
When running AZZ Incorporated's price analysis, check to measure AZZ Incorporated'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 AZZ Incorporated is operating at the current time. Most of AZZ Incorporated's value examination focuses on studying past and present price action to predict the probability of AZZ Incorporated's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move AZZ Incorporated's price. Additionally, you may evaluate how the addition of AZZ Incorporated to your portfolios can decrease your overall portfolio volatility.
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AZZ Incorporated 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.