Thermax (India) Market Value
| THERMAX Stock | 3,371 120.20 3.70% |
| Symbol | Thermax |
Thermax '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 Thermax'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 Thermax.
| 12/16/2024 |
| 03/16/2025 |
If you would invest 0.00 in Thermax on December 16, 2024 and sell it all today you would earn a total of 0.00 from holding Thermax Limited or generate 0.0% return on investment in Thermax over 90 days. Thermax is related to or competes with Reliance Industries, Tata Motors, Oil Natural, HCL Technologies, JSW Steel, and Infosys. Thermax is entity of India. It is traded as Stock on NSE exchange. More
Thermax 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 Thermax'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 Thermax Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 15.05 | |||
| Value At Risk | (5.21) | |||
| Potential Upside | 5.07 |
Thermax Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Thermax's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Thermax's standard deviation. In reality, there are many statistical measures that can use Thermax historical prices to predict the future Thermax's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.44) | |||
| Total Risk Alpha | (0.06) | |||
| Treynor Ratio | (13.23) |
Thermax Limited Backtested Returns
Thermax Limited owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.18, which indicates the firm had a -0.18 % return per unit of risk over the last 3 months. Thermax Limited exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Thermax's Coefficient Of Variation of (699.43), variance of 9.35, and Risk Adjusted Performance of (0.12) to confirm the risk estimate we provide. The entity has a beta of 0.0338, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Thermax's returns are expected to increase less than the market. However, during the bear market, the loss of holding Thermax is expected to be smaller as well. At this point, Thermax Limited has a negative expected return of -0.55%. Please make sure to validate Thermax's maximum drawdown, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Thermax Limited performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.56 |
Modest predictability
Thermax Limited has modest predictability. Overlapping area represents the amount of predictability between Thermax time series from 16th of December 2024 to 30th of January 2025 and 30th of January 2025 to 16th 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 Thermax Limited price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current Thermax price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 24.8 K |
Thermax Limited lagged returns against current returns
Autocorrelation, which is Thermax 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 Thermax's stock expected returns. We can calculate the autocorrelation of Thermax returns to help us make a trade decision. For example, suppose you find that Thermax 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 |
Thermax 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 Thermax stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Thermax stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Thermax stock over time.
Current vs Lagged Prices |
| Timeline |
Thermax Lagged Returns
When evaluating Thermax's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Thermax stock have on its future price. Thermax 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, Thermax autocorrelation shows the relationship between Thermax stock current value and its past values and can show if there is a momentum factor associated with investing in Thermax Limited.
Regressed Prices |
| Timeline |
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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.Additional Tools for Thermax Stock Analysis
When running Thermax's price analysis, check to measure Thermax'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 Thermax is operating at the current time. Most of Thermax's value examination focuses on studying past and present price action to predict the probability of Thermax's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Thermax's price. Additionally, you may evaluate how the addition of Thermax to your portfolios can decrease your overall portfolio volatility.