Alcoa Corp (Germany) Market Value
| 185 Stock | EUR 35.30 0.40 1.12% |
| Symbol | Alcoa |
Alcoa Corp '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 Alcoa Corp'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 Alcoa Corp.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in Alcoa Corp on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding Alcoa Corp or generate 0.0% return on investment in Alcoa Corp over 30 days. Alcoa Corp is related to or competes with Norsk Hydro, Norsk Hydro, Aluminumof China, AMAG Austria, Kaiser Aluminum, and Century Aluminum. Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Bra... More
Alcoa Corp 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 Alcoa Corp'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 Alcoa Corp upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.71 | |||
| Information Ratio | 0.0673 | |||
| Maximum Drawdown | 18.04 | |||
| Value At Risk | (4.92) | |||
| Potential Upside | 7.15 |
Alcoa Corp Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alcoa Corp's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alcoa Corp's standard deviation. In reality, there are many statistical measures that can use Alcoa Corp historical prices to predict the future Alcoa Corp's volatility.| Risk Adjusted Performance | 0.0687 | |||
| Jensen Alpha | 0.2116 | |||
| Total Risk Alpha | 0.1513 | |||
| Sortino Ratio | 0.0815 | |||
| Treynor Ratio | 0.1697 |
Alcoa Corp Backtested Returns
Alcoa Corp appears to be very steady, given 3 months investment horizon. Alcoa Corp secures Sharpe Ratio (or Efficiency) of 0.0749, which signifies that the company had a 0.0749% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Alcoa Corp, which you can use to evaluate the volatility of the firm. Please makes use of Alcoa Corp's mean deviation of 2.33, and Risk Adjusted Performance of 0.0687 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Alcoa Corp holds a performance score of 5. The firm shows a Beta (market volatility) of 1.43, 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, Alcoa Corp will likely underperform. Please check Alcoa Corp's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Alcoa Corp's price patterns will revert.
Auto-correlation | 0.74 |
Good predictability
Alcoa Corp has good predictability. Overlapping area represents the amount of predictability between Alcoa Corp time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd of December 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 Alcoa Corp price movement. The serial correlation of 0.74 indicates that around 74.0% of current Alcoa Corp price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.74 | |
| Spearman Rank Test | 0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 2.9 |
Alcoa Corp lagged returns against current returns
Autocorrelation, which is Alcoa Corp 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 Alcoa Corp's stock expected returns. We can calculate the autocorrelation of Alcoa Corp returns to help us make a trade decision. For example, suppose you find that Alcoa Corp 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 |
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Alcoa Corp 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 Alcoa Corp stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alcoa Corp stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alcoa Corp stock over time.
Current vs Lagged Prices |
| Timeline |
Alcoa Corp Lagged Returns
When evaluating Alcoa Corp's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alcoa Corp stock have on its future price. Alcoa Corp 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, Alcoa Corp autocorrelation shows the relationship between Alcoa Corp stock current value and its past values and can show if there is a momentum factor associated with investing in Alcoa Corp.
Regressed Prices |
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Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in Alcoa Stock
When determining whether Alcoa Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Alcoa Corp's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Alcoa Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Alcoa Corp Stock:Check out Alcoa Corp Correlation, Alcoa Corp Volatility and Alcoa Corp Alpha and Beta module to complement your research on Alcoa Corp. For more detail on how to invest in Alcoa Stock please use our How to Invest in Alcoa Corp guide.You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Alcoa Corp 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.