Altair Engineering Stock Market Value
| ALTR Stock | USD 83.45 0.33 0.39% |
| Symbol | Altair |
Altair Engineering Price To Book Ratio
Is Altair Engineering'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 Altair Engineering. If investors know Altair 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 Altair Engineering 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 0.633 | Earnings Share (0.11) | Revenue Per Share 7.602 | Quarterly Revenue Growth 0.069 | Return On Assets 0.0029 |
The market value of Altair Engineering is measured differently than its book value, which is the value of Altair that is recorded on the company's balance sheet. Investors also form their own opinion of Altair Engineering's value that differs from its market value or its book value, called intrinsic value, which is Altair Engineering'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 Altair Engineering's market value can be influenced by many factors that don't directly affect Altair Engineering'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 Altair Engineering's value and its price as these two are different measures arrived at by different means. Investors typically determine if Altair Engineering is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Altair Engineering'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.
Altair Engineering '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 Altair Engineering'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 Altair Engineering.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Altair Engineering on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Altair Engineering or generate 0.0% return on investment in Altair Engineering over 30 days. Altair Engineering is related to or competes with Global Blue, EverCommerce, CSG Systems, Consensus Cloud, I3 Verticals, CCC Intelligent, and SPS Commerce. Altair Engineering Inc., together with its subsidiaries, provides software and cloud solutions in the areas of simulatio... More
Altair Engineering 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 Altair Engineering'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 Altair Engineering upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 8.54 | |||
| Value At Risk | (3.54) | |||
| Potential Upside | 3.16 |
Altair Engineering Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Altair Engineering's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Altair Engineering's standard deviation. In reality, there are many statistical measures that can use Altair Engineering historical prices to predict the future Altair Engineering's volatility.| Risk Adjusted Performance | 0.0022 | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (0.01) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Altair Engineering'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.
Altair Engineering Backtested Returns
Altair Engineering secures Sharpe Ratio (or Efficiency) of -0.0072, which signifies that the company had a -0.0072% return per unit of risk over the last 3 months. Altair Engineering exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Altair Engineering's Mean Deviation of 1.5, risk adjusted performance of 0.0022, and Standard Deviation of 1.99 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 2.04, 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, Altair Engineering will likely underperform. Altair Engineering has an expected return of -0.0144%. Please make sure to confirm Altair Engineering treynor ratio, kurtosis, as well as the relationship between the Kurtosis and day typical price , to decide if Altair Engineering performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.21 |
Weak predictability
Altair Engineering has weak predictability. Overlapping area represents the amount of predictability between Altair Engineering 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 Altair Engineering price movement. The serial correlation of 0.21 indicates that over 21.0% of current Altair Engineering price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 1.22 |
Altair Engineering lagged returns against current returns
Autocorrelation, which is Altair Engineering 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 Altair Engineering's stock expected returns. We can calculate the autocorrelation of Altair Engineering returns to help us make a trade decision. For example, suppose you find that Altair Engineering 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 |
Altair Engineering 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 Altair Engineering stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Altair Engineering stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Altair Engineering stock over time.
Current vs Lagged Prices |
| Timeline |
Altair Engineering Lagged Returns
When evaluating Altair Engineering's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Altair Engineering stock have on its future price. Altair Engineering 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, Altair Engineering autocorrelation shows the relationship between Altair Engineering stock current value and its past values and can show if there is a momentum factor associated with investing in Altair Engineering.
Regressed Prices |
| Timeline |
Altair Engineering Investors Sentiment
The influence of Altair Engineering'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 Altair. 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 Altair Engineering's public news can be used to forecast risks associated with an investment in Altair. The trend in average sentiment can be used to explain how an investor holding Altair can time the market purely based on public headlines and social activities around Altair Engineering. Please note that most equities that are difficult to arbitrage are affected by market sentiment the most.
Altair Engineering'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 Altair Engineering'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 Altair Engineering's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Altair Engineering.
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 Altair Engineering 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, Altair Engineering's short interest history, or implied volatility extrapolated from Altair Engineering options trading.
Pair Trading with Altair Engineering
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 Altair Engineering 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 Altair Engineering will appreciate offsetting losses from the drop in the long position's value.Moving together with Altair Stock
| 0.65 | S | SentinelOne Financial Report 6th of June 2024 | PairCorr |
Moving against Altair Stock
| 0.53 | SQ | Block Inc Earnings Call This Week | PairCorr |
| 0.49 | DTSS | Datasea | PairCorr |
| 0.43 | BOX | Box Inc Sell-off Trend | PairCorr |
| 0.43 | GCT | GigaCloud Technology Financial Report 22nd of May 2024 | PairCorr |
| 0.42 | NN | Nextnav Acquisition Corp Tech Boost | PairCorr |
The ability to find closely correlated positions to Altair Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Altair Engineering 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 Altair Engineering - 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 Altair Engineering to buy it.
The correlation of Altair Engineering 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 Altair Engineering moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Altair Engineering 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 Altair Engineering 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 Altair Engineering Correlation, Altair Engineering Volatility and Altair Engineering Alpha and Beta module to complement your research on Altair Engineering. To learn how to invest in Altair Stock, please use our How to Invest in Altair Engineering guide.You can also try the Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Complementary Tools for Altair Stock analysis
When running Altair Engineering's price analysis, check to measure Altair Engineering'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 Altair Engineering is operating at the current time. Most of Altair Engineering's value examination focuses on studying past and present price action to predict the probability of Altair Engineering's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Altair Engineering's price. Additionally, you may evaluate how the addition of Altair Engineering to your portfolios can decrease your overall portfolio volatility.
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Altair Engineering 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.