Macroaxis considers Reliance Steel to be not too risky. Reliance Steel Aluminum
maintains Sharpe Ratio (i.e. Efficiency) of -0.1098 which implies Reliance Steel Aluminum
had -0.1098% of return per unit of risk over the last 1 month. Macroaxis philosophy towards forecasting risk of any stock is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators
. Reliance Steel Aluminum exposes twenty-eight different technical indicators
which can help you to evaluate volatility that cannot be diversified away. Please be advised to check Reliance Steel Aluminum Coefficient Of Variation
of 5,076 and Risk Adjusted Performance of 0.01071 to confirm risk estimate we provide. Macroaxis gives Reliance Steel performance score of 0 on a scale of 0 to 100. The organization holds Beta of 1.0312 which implies Reliance Steel returns are very sensitive to returns on the market. as market goes up or down, Reliance Steel is expected to follow.. Even though it is essential to pay attention to Reliance Steel Aluminum current trending patterns, it is always good to be careful when utilizing equity existing price patterns. Macroaxis philosophy towards forecasting future performance of any stock is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Reliance Steel Aluminum exposes twenty-eight different technical indicators which can help you to evaluate its performance. Reliance Steel Aluminum has expected return of -0.1736%. Please be advised to check Reliance Steel Aluminum Value At Risk as well as the relationship between Kurtosis and Market Facilitation Index to decide if Reliance Steel Aluminum past performance will be repeated at some point in the near future.
|15 days auto-correlation||(0.81) |
Excellent reverse predictability
Reliance Steel Aluminum Co has excellent reverse predictability. Overlapping area represents the amount of predictability between Reliance Steel time series from May 26, 2018 to June 10, 2018 and June 10, 2018 to June 25, 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 -0.81 indicates that around 81.0% of current Reliance Steel price fluctuation can be explain by its past prices. Given that Reliance Steel Aluminum Co has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Reliance Steel for similar time interval.
|Correlation Coefficient|| -0.81|
|Spearman Rank Test|| -0.87|
|Price Variance|| 1.79|
|Lagged Price Variance|| 1.21|