Macroaxis considers Reliance Steel not too risky given 1 month investment horizon. Reliance Steel Aluminum maintains Sharpe Ratio (i.e. Efficiency) of 0.4198 which implies Reliance Steel Aluminum had 0.4198% 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 company 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 employ Reliance Steel Aluminum Coefficient Of Variation of 238.22 and Risk Adjusted Performance of 0.2052 to confirm if our risk estimates are consistent with your expectations.
|Investment Horizon||30 Days Login to change|
Reliance Steel Market Sensitivity
|Reliance Steel returns are very sensitive to returns on the market. As market goes up or down, Reliance Steel is expected to follow.One Month Beta |Analyze Reliance Steel Aluminum Demand TrendCheck current 30 days Reliance Steel correlation with market (DOW)|
β = 0.9389
Reliance Steel Aluminum Technical Analysis
Projected Return Density Against MarketAllowing for the 30-days total investment horizon, Reliance Steel has beta of 0.9389 . This implies Reliance Steel Aluminum Co market returns are very sensitive to returns on the market. As the market benchmark goes up or down, Reliance Steel is expected to follow. Moreover, Reliance Steel Aluminum Co has an alpha of 0.2416 implying that it can potentially generate 0.2416% excess return over DOW after adjusting for the inherited market risk (beta).
Allowing for the 30-days total investment horizon, the coefficient of variation of Reliance Steel is 238.22. The daily returns are destributed with a variance of 1.36 and standard deviation of 1.17. The mean deviation of Reliance Steel Aluminum Co is currently at 0.81. For similar time horizon, the selected benchmark (DOW) has volatility of 0.47