Air Transport Services Stock Market Value
| ATSG Stock | USD 12.73 0.03 0.24% |
| Symbol | Air |
Air Transport Services Price To Book Ratio
Is Air Transport's industry 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 Air Transport. If investors know Air 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 Air Transport 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 (0.58) | Earnings Share 0.82 | Revenue Per Share 30.166 | Quarterly Revenue Growth (0.03) | Return On Assets 0.0272 |
The market value of Air Transport Services is measured differently than its book value, which is the value of Air that is recorded on the company's balance sheet. Investors also form their own opinion of Air Transport's value that differs from its market value or its book value, called intrinsic value, which is Air Transport's 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 Air Transport's market value can be influenced by many factors that don't directly affect Air Transport's 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 Air Transport's value and its price as these two are different measures arrived at by different means. Investors typically determine if Air Transport is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Air Transport's 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.
Air Transport '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 Air Transport'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 Air Transport.
| 07/04/2022 |
| 04/24/2024 |
If you would invest 0.00 in Air Transport on July 4, 2022 and sell it all today you would earn a total of 0.00 from holding Air Transport Services or generate 0.0% return on investment in Air Transport over 660 days. Air Transport is related to or competes with Copa Holdings, SkyWest, Sun Country, Frontier Group, Allegiant Travel, Mesa Air, and Hawaiian Holdings. Air Transport Services Group, Inc., together with its subsidiaries, provides aircraft leasing and air cargo transportati... More
Air Transport 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 Air Transport'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 Air Transport Services upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 9.1 | |||
| Value At Risk | (4.11) | |||
| Potential Upside | 4.13 |
Air Transport Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Air Transport's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Air Transport's standard deviation. In reality, there are many statistical measures that can use Air Transport historical prices to predict the future Air Transport's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.52) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | (0.17) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Air Transport's 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.
Air Transport Services Backtested Returns
Air Transport Services secures Sharpe Ratio (or Efficiency) of -0.16, which signifies that the company had a -0.16% return per unit of risk over the last 3 months. Air Transport Services exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Air Transport's Risk Adjusted Performance of (0.07), mean deviation of 2.09, and Standard Deviation of 2.54 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.0, which signifies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Air Transport will likely underperform. Air Transport Services has an expected return of -0.41%. Please make sure to confirm Air Transport Services potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Air Transport Services performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.75 |
Good predictability
Air Transport Services has good predictability. Overlapping area represents the amount of predictability between Air Transport time series from 4th of July 2022 to 30th of May 2023 and 30th of May 2023 to 24th of April 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 Air Transport Services price movement. The serial correlation of 0.75 indicates that around 75.0% of current Air Transport price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 9.89 |
Air Transport Services lagged returns against current returns
Autocorrelation, which is Air Transport 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 Air Transport's stock expected returns. We can calculate the autocorrelation of Air Transport returns to help us make a trade decision. For example, suppose you find that Air Transport 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 |
Air Transport 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 Air Transport stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Air Transport stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Air Transport stock over time.
Current vs Lagged Prices |
| Timeline |
Air Transport Lagged Returns
When evaluating Air Transport's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Air Transport stock have on its future price. Air Transport 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, Air Transport autocorrelation shows the relationship between Air Transport stock current value and its past values and can show if there is a momentum factor associated with investing in Air Transport Services.
Regressed Prices |
| Timeline |
Air Transport Investors Sentiment
The influence of Air Transport's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Air. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock market does not have solid backing from leading economists and market statisticians.
Investor biases related to Air Transport's public news can be used to forecast risks associated with an investment in Air. The trend in average sentiment can be used to explain how an investor holding Air can time the market purely based on public headlines and social activities around Air Transport Services. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Air Transport's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Air Transport's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Air Transport's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Air Transport.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Air Transport in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Air Transport's short interest history, or implied volatility extrapolated from Air Transport options trading.
Pair Trading with Air Transport
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 Air Transport 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 Air Transport will appreciate offsetting losses from the drop in the long position's value.Moving together with Air Stock
| 0.69 | ALGT | Allegiant Travel Earnings Call This Week | PairCorr |
Moving against Air Stock
| 0.86 | SKYW | SkyWest Earnings Call Tomorrow | PairCorr |
| 0.82 | CP | Canadian Pacific Railway Earnings Call Today | PairCorr |
| 0.78 | BZ | Kanzhun Ltd ADR Financial Report 22nd of May 2024 | PairCorr |
| 0.77 | J | Jacobs Solutions Financial Report 14th of May 2024 | PairCorr |
| 0.77 | DY | Dycom Industries Financial Report 22nd of May 2024 | PairCorr |
The ability to find closely correlated positions to Air Transport could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Air Transport 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 Air Transport - 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 Air Transport Services to buy it.
The correlation of Air Transport 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 Air Transport moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Air Transport Services 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 Air Transport 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.Check out Air Transport Correlation, Air Transport Volatility and Air Transport Alpha and Beta module to complement your research on Air Transport. You can also try the Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
Complementary Tools for Air Stock analysis
When running Air Transport's price analysis, check to measure Air Transport'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 Air Transport is operating at the current time. Most of Air Transport's value examination focuses on studying past and present price action to predict the probability of Air Transport's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Air Transport's price. Additionally, you may evaluate how the addition of Air Transport to your portfolios can decrease your overall portfolio volatility.
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Air Transport technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.