We consider Reliance Steel not too risky. Reliance Steel Aluminum
maintains Sharpe Ratio (i.e. Efficiency) of 0.033 which implies Reliance Steel Aluminum
had 0.033% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a stock is to use all available market data together with stock specific technical indicators
that cannot be diversified away. We have found twenty-one technical indicators
for Reliance Steel Aluminum which you can use to evaluate future volatility of the company. Please check Reliance Steel Aluminum Coefficient Of Variation
of 3,489 and Risk Adjusted Performance of 0.005106 to confirm if risk estimate we provide are consistent with the epected return of 0.0583%. Reliance Steel has performance score of 2 on a scale of 0 to 100. The organization holds Beta of -0.5008 which implies as returns on market increase, returns on owning Reliance Steel are expected to decrease at a much smaller rate. During bear market, Reliance Steel is likely to outperform the market.. Although it is extremely important to respect Reliance Steel Aluminum current trending patterns, it is better to be realistic regarding the information on equity existing price patterns. The philosophy towards forecasting future performance of any stock is to evaluate the business as a whole together with its past performance including all available fundamental and technical indicators. By analyzing Reliance Steel Aluminum technical indicators you can presently evaluate if the expected return of 0.0583% will be sustainable into the future. Reliance Steel Aluminum right now holds a risk of 1.7664%. Please check Reliance Steel Aluminum Standard Deviation, Value At Risk as well as the relationship between Value At Risk and Kurtosis to decide if Reliance Steel Aluminum will be following its historical price patterns.
|15 days auto-correlation|| 0.07 |
Virtually no predictability
Reliance Steel Aluminum Co has virtually no predictability. Overlapping area represents the amount of predictability between Reliance Steel time series from August 23, 2018 to September 7, 2018 and September 7, 2018 to September 22, 2018. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Reliance Steel Aluminum price movement. The serial correlation of 0.07 indicates that barely 7.0% of current Reliance Steel price fluctuation can be explain by its past prices.
|Spearman Rank Test||-0.69|