ALGOMA STEEL (Germany) Market Value
| 9ZY Stock | 5.60 0.15 2.61% |
| Symbol | ALGOMA |
ALGOMA 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 ALGOMA 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 ALGOMA STEEL.
| 12/15/2024 |
| 03/15/2025 |
If you would invest 0.00 in ALGOMA STEEL on December 15, 2024 and sell it all today you would earn a total of 0.00 from holding ALGOMA STEEL GROUP or generate 0.0% return on investment in ALGOMA STEEL over 90 days. ALGOMA STEEL is related to or competes with Canadian Utilities, FLOW TRADERS, United Utilities, Xinhua Winshare, G8 EDUCATION, SIDETRADE, and CarsalesCom. More
ALGOMA 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 ALGOMA 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 ALGOMA STEEL GROUP upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 19.82 | |||
| Value At Risk | (5.65) | |||
| Potential Upside | 4.48 |
ALGOMA STEEL Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALGOMA STEEL's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALGOMA STEEL's standard deviation. In reality, there are many statistical measures that can use ALGOMA STEEL historical prices to predict the future ALGOMA STEEL's volatility.| Risk Adjusted Performance | (0.20) | |||
| Jensen Alpha | (0.75) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (2.18) |
ALGOMA STEEL GROUP Backtested Returns
ALGOMA STEEL GROUP secures Sharpe Ratio (or Efficiency) of -0.24, which signifies that the company had a -0.24 % return per unit of risk over the last 3 months. ALGOMA STEEL GROUP exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ALGOMA STEEL's Standard Deviation of 3.23, risk adjusted performance of (0.20), and Mean Deviation of 2.35 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.36, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, ALGOMA STEEL's returns are expected to increase less than the market. However, during the bear market, the loss of holding ALGOMA STEEL is expected to be smaller as well. At this point, ALGOMA STEEL GROUP has a negative expected return of -0.82%. Please make sure to confirm ALGOMA STEEL's coefficient of variation, treynor ratio, skewness, as well as the relationship between the jensen alpha and value at risk , to decide if ALGOMA STEEL GROUP performance from the past will be repeated in the future.
Auto-correlation | 0.68 |
Good predictability
ALGOMA STEEL GROUP has good predictability. Overlapping area represents the amount of predictability between ALGOMA STEEL time series from 15th of December 2024 to 29th of January 2025 and 29th of January 2025 to 15th of March 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of ALGOMA STEEL GROUP price movement. The serial correlation of 0.68 indicates that around 68.0% of current ALGOMA STEEL price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.68 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
ALGOMA STEEL GROUP lagged returns against current returns
Autocorrelation, which is ALGOMA 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 ALGOMA STEEL's stock expected returns. We can calculate the autocorrelation of ALGOMA STEEL returns to help us make a trade decision. For example, suppose you find that ALGOMA 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 |
ALGOMA 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 ALGOMA STEEL stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALGOMA STEEL stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALGOMA STEEL stock over time.
Current vs Lagged Prices |
| Timeline |
ALGOMA STEEL Lagged Returns
When evaluating ALGOMA STEEL's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALGOMA STEEL stock have on its future price. ALGOMA 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, ALGOMA STEEL autocorrelation shows the relationship between ALGOMA STEEL stock current value and its past values and can show if there is a momentum factor associated with investing in ALGOMA STEEL GROUP.
Regressed Prices |
| Timeline |
Currently Active Assets on Macroaxis
Additional Information and Resources on Investing in ALGOMA Stock
When determining whether ALGOMA STEEL GROUP is a strong investment it is important to analyze ALGOMA 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 ALGOMA STEEL's future performance. For an informed investment choice regarding ALGOMA Stock, refer to the following important reports:Check out ALGOMA STEEL Correlation, ALGOMA STEEL Volatility and ALGOMA STEEL Alpha and Beta module to complement your research on ALGOMA STEEL. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
ALGOMA 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.