Reliance Steel Aluminum Stock Market Value
| RS Stock | USD 290.62 1.51 0.52% |
| Symbol | Reliance |
Reliance Steel Aluminum Price To Book Ratio
Is Reliance Steel'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 Reliance Steel. If investors know Reliance 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 Reliance Steel 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 (0.19) | Dividend Share 4.1 | Earnings Share 21.45 | Revenue Per Share 249.942 | Quarterly Revenue Growth (0.08) |
The market value of Reliance Steel Aluminum is measured differently than its book value, which is the value of Reliance that is recorded on the company's balance sheet. Investors also form their own opinion of Reliance Steel's value that differs from its market value or its book value, called intrinsic value, which is Reliance Steel'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 Reliance Steel's market value can be influenced by many factors that don't directly affect Reliance Steel'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 Reliance Steel's value and its price as these two are different measures arrived at by different means. Investors typically determine if Reliance Steel is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Reliance Steel'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.
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.
| 03/30/2024 |
| 04/29/2024 |
If you would invest 0.00 in Reliance Steel on March 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 Universal Stainless, Outokumpu Oyj, Usinas Siderurgicas, POSCO Holdings, Steel Dynamics, Commercial Metals, and Nucor Corp. Reliance Steel Aluminum Co. operates as a diversified metal solutions provider and the metals service center company in ... 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 | 1.55 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 19.63 | |||
| Value At Risk | (1.83) | |||
| Potential Upside | 1.93 |
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 | 0.03 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 0.0407 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Reliance 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.
Reliance Steel Aluminum Backtested Returns
We consider Reliance Steel very steady. Reliance Steel Aluminum maintains Sharpe Ratio (i.e., Efficiency) of 0.0123, which implies the firm had a 0.0123% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Reliance Steel Aluminum, which you can use to evaluate the volatility of the company. Please check Reliance Steel's Coefficient Of Variation of 2716.02, risk adjusted performance of 0.03, and Semi Deviation of 1.46 to confirm if the risk estimate we provide is consistent with the expected return of 0.0261%. The company holds a Beta of 1.65, which implies 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, Reliance Steel will likely underperform. Reliance Steel Aluminum right now holds a risk of 2.12%. Please check Reliance Steel Aluminum value at risk, as well as the relationship between the kurtosis and market facilitation index , to decide if Reliance Steel Aluminum will be following its historical price patterns.
Auto-correlation | 0.81 |
Very good predictability
Reliance Steel Aluminum has very good predictability. Overlapping area represents the amount of predictability between Reliance Steel time series from 30th of March 2024 to 14th of April 2024 and 14th of April 2024 to 29th of April 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 0.81 indicates that around 81.0% of current Reliance Steel price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.68 | |
| Residual Average | 0.0 | |
| Price Variance | 171.85 |
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
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Complementary Tools for Reliance Stock analysis
When running Reliance Steel's price analysis, check to measure Reliance 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 Reliance Steel is operating at the current time. Most of Reliance Steel's value examination focuses on studying past and present price action to predict the probability of Reliance 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 Reliance Steel's price. Additionally, you may evaluate how the addition of Reliance Steel to your portfolios can decrease your overall portfolio volatility.
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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.