Alta Equipment Group Stock Market Value
| ALTG Stock | USD 11.73 0.02 0.17% |
| Symbol | Alta |
Alta Equipment Group Price To Book Ratio
Is Alta Equipment'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 Alta Equipment. If investors know Alta 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 Alta Equipment 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 0.454 | Dividend Share 0.228 | Earnings Share 0.18 | Revenue Per Share 57.841 | Quarterly Revenue Growth 0.217 |
The market value of Alta Equipment Group is measured differently than its book value, which is the value of Alta that is recorded on the company's balance sheet. Investors also form their own opinion of Alta Equipment's value that differs from its market value or its book value, called intrinsic value, which is Alta Equipment'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 Alta Equipment's market value can be influenced by many factors that don't directly affect Alta Equipment'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 Alta Equipment's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alta Equipment is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alta Equipment'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.
Alta Equipment '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 Alta Equipment'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 Alta Equipment.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Alta Equipment on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Alta Equipment Group or generate 0.0% return on investment in Alta Equipment over 30 days. Alta Equipment is related to or competes with PROG Holdings, GATX, McGrath RentCorp, Custom Truck, Mega Matrix, FTAI Aviation, and HE Equipment. Alta Equipment Group Inc. owns and operates integrated equipment dealership platforms in the United States More
Alta Equipment 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 Alta Equipment'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 Alta Equipment Group upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.38 | |||
| Information Ratio | 0.0278 | |||
| Maximum Drawdown | 12.81 | |||
| Value At Risk | (3.66) | |||
| Potential Upside | 5.39 |
Alta Equipment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alta Equipment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alta Equipment's standard deviation. In reality, there are many statistical measures that can use Alta Equipment historical prices to predict the future Alta Equipment's volatility.| Risk Adjusted Performance | 0.0467 | |||
| Jensen Alpha | (0.06) | |||
| Total Risk Alpha | (0.21) | |||
| Sortino Ratio | 0.032 | |||
| Treynor Ratio | 0.0627 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Alta Equipment'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.
Alta Equipment Group Backtested Returns
We consider Alta Equipment not too volatile. Alta Equipment Group secures Sharpe Ratio (or Efficiency) of 0.0505, which signifies that the company had a 0.0505% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Alta Equipment Group, which you can use to evaluate the volatility of the firm. Please confirm Alta Equipment's Risk Adjusted Performance of 0.0467, mean deviation of 2.08, and Downside Deviation of 2.38 to double-check if the risk estimate we provide is consistent with the expected return of 0.14%. Alta Equipment has a performance score of 3 on a scale of 0 to 100. The firm shows a Beta (market volatility) of 2.58, 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, Alta Equipment will likely underperform. Alta Equipment Group right now shows a risk of 2.75%. Please confirm Alta Equipment Group semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if Alta Equipment Group will be following its price patterns.
Auto-correlation | -0.03 |
Very weak reverse predictability
Alta Equipment Group has very weak reverse predictability. Overlapping area represents the amount of predictability between Alta Equipment time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th 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 Alta Equipment Group price movement. The serial correlation of -0.03 indicates that only 3.0% of current Alta Equipment price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.23 |
Alta Equipment Group lagged returns against current returns
Autocorrelation, which is Alta Equipment 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 Alta Equipment's stock expected returns. We can calculate the autocorrelation of Alta Equipment returns to help us make a trade decision. For example, suppose you find that Alta Equipment 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 |
Alta Equipment 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 Alta Equipment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alta Equipment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alta Equipment stock over time.
Current vs Lagged Prices |
| Timeline |
Alta Equipment Lagged Returns
When evaluating Alta Equipment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alta Equipment stock have on its future price. Alta Equipment 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, Alta Equipment autocorrelation shows the relationship between Alta Equipment stock current value and its past values and can show if there is a momentum factor associated with investing in Alta Equipment Group.
Regressed Prices |
| Timeline |
Pair Trading with Alta Equipment
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 Alta Equipment 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 Alta Equipment will appreciate offsetting losses from the drop in the long position's value.Moving together with Alta Stock
| 0.65 | AER | AerCap Holdings NV Earnings Call This Week | PairCorr |
Moving against Alta Stock
| 0.66 | ZCAR | Zoomcar Holdings Symbol Change | PairCorr |
| 0.59 | YAYO | Yayyo Inc | PairCorr |
| 0.56 | ZCARW | Zoomcar Holdings Symbol Change | PairCorr |
| 0.47 | LEAS | Strategic Asset Leasing | PairCorr |
The ability to find closely correlated positions to Alta Equipment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alta Equipment 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 Alta Equipment - 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 Alta Equipment Group to buy it.
The correlation of Alta Equipment 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 Alta Equipment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alta Equipment 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 Alta Equipment 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 Alta Equipment Correlation, Alta Equipment Volatility and Alta Equipment Alpha and Beta module to complement your research on Alta Equipment. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Complementary Tools for Alta Stock analysis
When running Alta Equipment's price analysis, check to measure Alta Equipment'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 Alta Equipment is operating at the current time. Most of Alta Equipment's value examination focuses on studying past and present price action to predict the probability of Alta Equipment's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alta Equipment's price. Additionally, you may evaluate how the addition of Alta Equipment to your portfolios can decrease your overall portfolio volatility.
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Alta Equipment 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.