Russel Metals Stock Market Value
| RUS Stock | CAD 39.71 1.04 2.69% |
| Symbol | Russel |
Russel Metals Price To Book Ratio
Russel Metals '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 Russel Metals' 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 Russel Metals.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in Russel Metals on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding Russel Metals or generate 0.0% return on investment in Russel Metals over 90 days. Russel Metals is related to or competes with Finning International, Transcontinental, Toromont Industries, IGM Financial, and Labrador Iron. Russel Metals Inc., a metals distribution company, distributes steel and other metal products in North America More
Russel Metals 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 Russel Metals' 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 Russel Metals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 6.83 | |||
| Value At Risk | (2.20) | |||
| Potential Upside | 1.64 |
Russel Metals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Russel Metals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Russel Metals' standard deviation. In reality, there are many statistical measures that can use Russel Metals historical prices to predict the future Russel Metals' volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.02) | |||
| Treynor Ratio | (0.34) |
Russel Metals Backtested Returns
Russel Metals maintains Sharpe Ratio (i.e., Efficiency) of -0.1, which implies the firm had a -0.1 % return per unit of risk over the last 3 months. Russel Metals exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Russel Metals' Coefficient Of Variation of (743.10), variance of 1.91, and Risk Adjusted Performance of (0.11) to confirm the risk estimate we provide. The company holds a Beta of 0.58, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Russel Metals' returns are expected to increase less than the market. However, during the bear market, the loss of holding Russel Metals is expected to be smaller as well. At this point, Russel Metals has a negative expected return of -0.14%. Please make sure to check Russel Metals' kurtosis, as well as the relationship between the day median price and period momentum indicator , to decide if Russel Metals performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.32 |
Poor reverse predictability
Russel Metals has poor reverse predictability. Overlapping area represents the amount of predictability between Russel Metals time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th 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 Russel Metals price movement. The serial correlation of -0.32 indicates that nearly 32.0% of current Russel Metals price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.32 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.58 |
Russel Metals lagged returns against current returns
Autocorrelation, which is Russel Metals 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 Russel Metals' stock expected returns. We can calculate the autocorrelation of Russel Metals returns to help us make a trade decision. For example, suppose you find that Russel Metals 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 |
Russel Metals 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 Russel Metals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Russel Metals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Russel Metals stock over time.
Current vs Lagged Prices |
| Timeline |
Russel Metals Lagged Returns
When evaluating Russel Metals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Russel Metals stock have on its future price. Russel Metals 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, Russel Metals autocorrelation shows the relationship between Russel Metals stock current value and its past values and can show if there is a momentum factor associated with investing in Russel Metals.
Regressed Prices |
| Timeline |
Pair Trading with Russel Metals
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 Russel Metals 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 Russel Metals will appreciate offsetting losses from the drop in the long position's value.Moving against Russel Stock
| 0.74 | FFH-PK | Fairfax Financial | PairCorr |
| 0.59 | FFH-PH | Fairfax Financial | PairCorr |
| 0.58 | FFH-PI | Fairfax Financial | PairCorr |
| 0.56 | FFH-PG | Fairfax Fin Hld | PairCorr |
The ability to find closely correlated positions to Russel Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Russel Metals 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 Russel Metals - 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 Russel Metals to buy it.
The correlation of Russel Metals 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 Russel Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Russel Metals 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 Russel Metals 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.Other Information on Investing in Russel Stock
Russel Metals financial ratios help investors to determine whether Russel 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 Russel with respect to the benefits of owning Russel Metals security.