Trane Technologies Plc Stock Market Value
| TT Stock | USD 345.38 10.07 3.00% |
| Symbol | Trane |
Trane Technologies plc Price To Book Ratio
Is Building Products space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Trane Technologies. If investors know Trane will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Trane Technologies listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.43 | Dividend Share 3.09 | Earnings Share 9.46 | Revenue Per Share 79.9 | Quarterly Revenue Growth 0.15 |
The market value of Trane Technologies plc is measured differently than its book value, which is the value of Trane that is recorded on the company's balance sheet. Investors also form their own opinion of Trane Technologies' value that differs from its market value or its book value, called intrinsic value, which is Trane Technologies' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Trane Technologies' market value can be influenced by many factors that don't directly affect Trane Technologies' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Trane Technologies' value and its price as these two are different measures arrived at by different means. Investors typically determine if Trane Technologies is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Trane Technologies' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Trane Technologies '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 Trane Technologies' 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 Trane Technologies.
| 05/20/2024 |
| 06/19/2024 |
If you would invest 0.00 in Trane Technologies on May 20, 2024 and sell it all today you would earn a total of 0.00 from holding Trane Technologies plc or generate 0.0% return on investment in Trane Technologies over 30 days. Trane Technologies is related to or competes with Fortune Brands, Johnson Controls, Lennox International, Builders FirstSource, Carrier Global, Masco, and Quanex Building. Trane Technologies plc, together with its subsidiaries, engages in the designing, manufacturing, selling, and servicing ... More
Trane Technologies 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 Trane Technologies' 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 Trane Technologies plc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.22 | |||
| Information Ratio | 0.1877 | |||
| Maximum Drawdown | 8.32 | |||
| Value At Risk | (1.82) | |||
| Potential Upside | 2.16 |
Trane Technologies Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Trane Technologies' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Trane Technologies' standard deviation. In reality, there are many statistical measures that can use Trane Technologies historical prices to predict the future Trane Technologies' volatility.| Risk Adjusted Performance | 0.1279 | |||
| Jensen Alpha | 0.2594 | |||
| Total Risk Alpha | 0.2566 | |||
| Sortino Ratio | 0.2117 | |||
| Treynor Ratio | 0.3057 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Trane Technologies' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Trane Technologies plc Backtested Returns
Trane Technologies appears to be very steady, given 3 months investment horizon. Trane Technologies plc owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.16, which indicates the firm had a 0.16% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Trane Technologies plc, which you can use to evaluate the volatility of the company. Please review Trane Technologies' Coefficient Of Variation of 509.17, semi deviation of 0.9511, and Risk Adjusted Performance of 0.1279 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Trane Technologies holds a performance score of 12. The entity has a beta of 0.85, which indicates possible diversification benefits within a given portfolio. Trane Technologies returns are very sensitive to returns on the market. As the market goes up or down, Trane Technologies is expected to follow. Please check Trane Technologies' total risk alpha, as well as the relationship between the downside variance and daily balance of power , to make a quick decision on whether Trane Technologies' existing price patterns will revert.
Auto-correlation | -0.83 |
Excellent reverse predictability
Trane Technologies plc has excellent reverse predictability. Overlapping area represents the amount of predictability between Trane Technologies time series from 20th of May 2024 to 4th of June 2024 and 4th of June 2024 to 19th of June 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Trane Technologies plc price movement. The serial correlation of -0.83 indicates that around 83.0% of current Trane Technologies price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.83 | |
| Spearman Rank Test | -0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 66.17 |
Trane Technologies plc lagged returns against current returns
Autocorrelation, which is Trane Technologies 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 Trane Technologies' stock expected returns. We can calculate the autocorrelation of Trane Technologies returns to help us make a trade decision. For example, suppose you find that Trane Technologies 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 |
Trane Technologies 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 Trane Technologies stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Trane Technologies stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Trane Technologies stock over time.
Current vs Lagged Prices |
| Timeline |
Trane Technologies Lagged Returns
When evaluating Trane Technologies' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Trane Technologies stock have on its future price. Trane Technologies 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, Trane Technologies autocorrelation shows the relationship between Trane Technologies stock current value and its past values and can show if there is a momentum factor associated with investing in Trane Technologies plc.
Regressed Prices |
| Timeline |
Pair Trading with Trane Technologies
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 Trane Technologies 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 Trane Technologies will appreciate offsetting losses from the drop in the long position's value.Moving together with Trane Stock
Moving against Trane Stock
| 0.77 | APT | Alpha Pro Tech | PairCorr |
| 0.71 | JBI | Janus International | PairCorr |
| 0.67 | NX | Quanex Building Products Fiscal Year End 12th of December 2024 | PairCorr |
| 0.67 | FBIN | Fortune Brands Innov | PairCorr |
| 0.63 | MAS | Masco | PairCorr |
The ability to find closely correlated positions to Trane Technologies could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Trane Technologies 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 Trane Technologies - 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 Trane Technologies plc to buy it.
The correlation of Trane Technologies 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 Trane Technologies moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Trane Technologies plc 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 Trane Technologies 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.Additional Tools for Trane Stock Analysis
When running Trane Technologies' price analysis, check to measure Trane Technologies' 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 Trane Technologies is operating at the current time. Most of Trane Technologies' value examination focuses on studying past and present price action to predict the probability of Trane Technologies' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Trane Technologies' price. Additionally, you may evaluate how the addition of Trane Technologies to your portfolios can decrease your overall portfolio volatility.