Emcor Group Stock Market Value
| EME Stock | USD 336.06 3.14 0.93% |
| Symbol | EMCOR |
EMCOR Group Price To Book Ratio
Is EMCOR'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 EMCOR. If investors know EMCOR 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 EMCOR 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 0.696 | Dividend Share 0.72 | Earnings Share 13.33 | Revenue Per Share 265.694 | Quarterly Revenue Growth 0.166 |
The market value of EMCOR Group is measured differently than its book value, which is the value of EMCOR that is recorded on the company's balance sheet. Investors also form their own opinion of EMCOR's value that differs from its market value or its book value, called intrinsic value, which is EMCOR'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 EMCOR's market value can be influenced by many factors that don't directly affect EMCOR'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 EMCOR's value and its price as these two are different measures arrived at by different means. Investors typically determine if EMCOR is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, EMCOR'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.
EMCOR '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 EMCOR'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 EMCOR.
| 10/21/2023 |
| 04/18/2024 |
If you would invest 0.00 in EMCOR on October 21, 2023 and sell it all today you would earn a total of 0.00 from holding EMCOR Group or generate 0.0% return on investment in EMCOR over 180 days. EMCOR is related to or competes with MYR, Topbuild Corp, Api GroupCorp, Dycom Industries, Comfort Systems, Primoris Services, and Granite Construction. EMCOR Group, Inc. provides electrical and mechanical construction, and facilities services primarily in the United State... More
EMCOR 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 EMCOR'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 EMCOR Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.21 | |||
| Information Ratio | 0.3443 | |||
| Maximum Drawdown | 12.73 | |||
| Value At Risk | (1.75) | |||
| Potential Upside | 2.81 |
EMCOR Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EMCOR's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EMCOR's standard deviation. In reality, there are many statistical measures that can use EMCOR historical prices to predict the future EMCOR's volatility.| Risk Adjusted Performance | 0.2428 | |||
| Jensen Alpha | 0.6339 | |||
| Total Risk Alpha | 0.5409 | |||
| Sortino Ratio | 0.5164 | |||
| Treynor Ratio | 0.7983 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of EMCOR'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.
EMCOR Group Backtested Returns
EMCOR appears to be very steady, given 3 months investment horizon. EMCOR Group retains Efficiency (Sharpe Ratio) of 0.39, which denotes the company had a 0.39% return per unit of risk over the last 3 months. By reviewing EMCOR's technical indicators, you can evaluate if the expected return of 0.71% is justified by implied risk. Please utilize EMCOR's Market Risk Adjusted Performance of 0.8083, coefficient of variation of 266.82, and Downside Deviation of 1.21 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, EMCOR holds a performance score of 30. The firm owns a Beta (Systematic Risk) of 0.84, which means possible diversification benefits within a given portfolio. As returns on the market increase, EMCOR's returns are expected to increase less than the market. However, during the bear market, the loss of holding EMCOR is expected to be smaller as well. Please check EMCOR's treynor ratio, expected short fall, and the relationship between the jensen alpha and potential upside , to make a quick decision on whether EMCOR's current price history will revert.
Auto-correlation | 0.65 |
Good predictability
EMCOR Group has good predictability. Overlapping area represents the amount of predictability between EMCOR time series from 21st of October 2023 to 19th of January 2024 and 19th of January 2024 to 18th 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 EMCOR Group price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current EMCOR price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 2643.32 |
EMCOR Group lagged returns against current returns
Autocorrelation, which is EMCOR 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 EMCOR's stock expected returns. We can calculate the autocorrelation of EMCOR returns to help us make a trade decision. For example, suppose you find that EMCOR 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 |
EMCOR 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 EMCOR stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EMCOR stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EMCOR stock over time.
Current vs Lagged Prices |
| Timeline |
EMCOR Lagged Returns
When evaluating EMCOR's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EMCOR stock have on its future price. EMCOR 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, EMCOR autocorrelation shows the relationship between EMCOR stock current value and its past values and can show if there is a momentum factor associated with investing in EMCOR Group.
Regressed Prices |
| Timeline |
EMCOR Investors Sentiment
The influence of EMCOR'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 EMCOR. 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 EMCOR's public news can be used to forecast risks associated with an investment in EMCOR. The trend in average sentiment can be used to explain how an investor holding EMCOR can time the market purely based on public headlines and social activities around EMCOR Group. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
EMCOR'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 EMCOR'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 EMCOR's news discussions. The higher the estimated score, the more favorable is the investor's outlook on EMCOR.
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 EMCOR 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, EMCOR's short interest history, or implied volatility extrapolated from EMCOR options trading.
Pair Trading with EMCOR
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 EMCOR 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 EMCOR will appreciate offsetting losses from the drop in the long position's value.Moving together with EMCOR Stock
| 0.81 | J | Jacobs Solutions Financial Report 14th of May 2024 | PairCorr |
| 0.96 | DY | Dycom Industries Financial Report 22nd of May 2024 | PairCorr |
Moving against EMCOR Stock
| 0.9 | VATE | Innovate Corp | PairCorr |
| 0.89 | NVEE | NV5 Global Financial Report 2nd of May 2024 | PairCorr |
| 0.64 | GLFH | Galenfeha | PairCorr |
| 0.46 | EXPO | Exponent Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to EMCOR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EMCOR 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 EMCOR - 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 EMCOR Group to buy it.
The correlation of EMCOR 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 EMCOR moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EMCOR Group 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 EMCOR 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 EMCOR Correlation, EMCOR Volatility and EMCOR Alpha and Beta module to complement your research on EMCOR. You can also try the Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
Complementary Tools for EMCOR Stock analysis
When running EMCOR's price analysis, check to measure EMCOR'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 EMCOR is operating at the current time. Most of EMCOR's value examination focuses on studying past and present price action to predict the probability of EMCOR's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move EMCOR's price. Additionally, you may evaluate how the addition of EMCOR to your portfolios can decrease your overall portfolio volatility.
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EMCOR 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.