Elgi Rubber (India) Market Value
| ELGIRUBCO | 63.03 2.51 3.83% |
| Symbol | Elgi |
Elgi Rubber '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 Elgi Rubber'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 Elgi Rubber.
| 01/01/2025 |
| 03/02/2025 |
If you would invest 0.00 in Elgi Rubber on January 1, 2025 and sell it all today you would earn a total of 0.00 from holding Elgi Rubber or generate 0.0% return on investment in Elgi Rubber over 60 days. Elgi Rubber is related to or competes with Cartrade Tech, Steel Authority, STEEL EXCHANGE, Silgo Retail, Vardhman Special, Manaksia Steels, and Kalyani Steels. More
Elgi Rubber 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 Elgi Rubber'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 Elgi Rubber upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 19.44 | |||
| Value At Risk | (5.01) | |||
| Potential Upside | 9.62 |
Elgi Rubber Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elgi Rubber's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elgi Rubber's standard deviation. In reality, there are many statistical measures that can use Elgi Rubber historical prices to predict the future Elgi Rubber's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.81) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (0.95) |
Elgi Rubber Backtested Returns
Elgi Rubber secures Sharpe Ratio (or Efficiency) of -0.19, which denotes the company had a -0.19 % return per unit of risk over the last 3 months. Elgi Rubber exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elgi Rubber's Variance of 18.3, standard deviation of 4.28, and Mean Deviation of 3.16 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.86, which means possible diversification benefits within a given portfolio. Elgi Rubber returns are very sensitive to returns on the market. As the market goes up or down, Elgi Rubber is expected to follow. At this point, Elgi Rubber has a negative expected return of -0.82%. Please make sure to confirm Elgi Rubber's treynor ratio, as well as the relationship between the kurtosis and day typical price , to decide if Elgi Rubber performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.90 |
Excellent predictability
Elgi Rubber has excellent predictability. Overlapping area represents the amount of predictability between Elgi Rubber time series from 1st of January 2025 to 31st of January 2025 and 31st of January 2025 to 2nd 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 Elgi Rubber price movement. The serial correlation of 0.9 indicates that approximately 90.0% of current Elgi Rubber price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.9 | |
| Spearman Rank Test | 0.9 | |
| Residual Average | 0.0 | |
| Price Variance | 249.74 |
Elgi Rubber lagged returns against current returns
Autocorrelation, which is Elgi Rubber 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 Elgi Rubber's stock expected returns. We can calculate the autocorrelation of Elgi Rubber returns to help us make a trade decision. For example, suppose you find that Elgi Rubber 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 |
Elgi Rubber 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 Elgi Rubber stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elgi Rubber stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elgi Rubber stock over time.
Current vs Lagged Prices |
| Timeline |
Elgi Rubber Lagged Returns
When evaluating Elgi Rubber's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elgi Rubber stock have on its future price. Elgi Rubber 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, Elgi Rubber autocorrelation shows the relationship between Elgi Rubber stock current value and its past values and can show if there is a momentum factor associated with investing in Elgi Rubber.
Regressed Prices |
| Timeline |
Also Currently Popular
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.Other Information on Investing in Elgi Stock
Elgi Rubber financial ratios help investors to determine whether Elgi Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Elgi with respect to the benefits of owning Elgi Rubber security.