Commercial Price to Earnings Ratio vs Inventory Turnover Analysis
Pair Trading with Commercial Metals
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 Commercial Metals 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 Commercial Metals will appreciate offsetting losses from the drop in the long position's value.Moving together with Commercial Stock
| 0.72 | KALU | Kaiser Aluminum Earnings Call This Week | PairCorr |
| 0.79 | CSTM | Constellium Nv Earnings Call This Week | PairCorr |
Moving against Commercial Stock
| 0.66 | NC | NACCO Industries | PairCorr |
| 0.65 | X | United States Steel Earnings Call This Week | PairCorr |
| 0.63 | VALE | Vale SA ADR Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Commercial Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Commercial Metals 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 Commercial Metals - 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 Commercial Metals to buy it.
The correlation of Commercial Metals 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 Commercial Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Commercial Metals 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 Commercial Metals 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 Trending Equities to better understand how to build diversified portfolios, which includes a position in Commercial Metals. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. For information on how to trade Commercial Stock refer to our How to Trade Commercial Stock guide.You can also try the Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Complementary Tools for Commercial Stock analysis
When running Commercial Metals' price analysis, check to measure Commercial Metals' 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 Commercial Metals is operating at the current time. Most of Commercial Metals' value examination focuses on studying past and present price action to predict the probability of Commercial Metals' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Commercial Metals' price. Additionally, you may evaluate how the addition of Commercial Metals to your portfolios can decrease your overall portfolio volatility.
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Is Commercial Metals' 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 Commercial Metals. If investors know Commercial 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 Commercial Metals listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Commercial Metals is measured differently than its book value, which is the value of Commercial that is recorded on the company's balance sheet. Investors also form their own opinion of Commercial Metals' value that differs from its market value or its book value, called intrinsic value, which is Commercial Metals' 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 Commercial Metals' market value can be influenced by many factors that don't directly affect Commercial Metals' 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 Commercial Metals' value and its price as these two are different measures arrived at by different means. Investors typically determine if Commercial Metals is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Commercial Metals' 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.