Hanil Iron (Korea) Market Value
| 002220 Stock | 2,045 75.00 3.81% |
| Symbol | Hanil |
Hanil Iron '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 Hanil Iron'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 Hanil Iron.
| 12/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Hanil Iron on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding Hanil Iron Steel or generate 0.0% return on investment in Hanil Iron over 330 days. Hanil Iron is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Hanil Iron 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 Hanil Iron'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 Hanil Iron Steel upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 8.18 | |||
| Value At Risk | (2.92) | |||
| Potential Upside | 2.3 |
Hanil Iron Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanil Iron's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanil Iron's standard deviation. In reality, there are many statistical measures that can use Hanil Iron historical prices to predict the future Hanil Iron's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.30) | |||
| Treynor Ratio | (0.16) |
Hanil Iron Steel Backtested Returns
At this point, Hanil Iron is very steady. Hanil Iron Steel holds Efficiency (Sharpe) Ratio of 0.0315, which attests that the entity had a 0.0315% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Hanil Iron Steel, which you can use to evaluate the volatility of the firm. Please check out Hanil Iron's Risk Adjusted Performance of (0.01), market risk adjusted performance of (0.15), and Standard Deviation of 1.59 to validate if the risk estimate we provide is consistent with the expected return of 0.0491%. Hanil Iron has a performance score of 2 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.28, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hanil Iron's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hanil Iron is expected to be smaller as well. Hanil Iron Steel right now retains a risk of 1.56%. Please check out Hanil Iron coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Hanil Iron will be following its current trending patterns.
Auto-correlation | -0.09 |
Very weak reverse predictability
Hanil Iron Steel has very weak reverse predictability. Overlapping area represents the amount of predictability between Hanil Iron time series from 29th of December 2023 to 11th of June 2024 and 11th of June 2024 to 23rd of November 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 Hanil Iron Steel price movement. The serial correlation of -0.09 indicates that less than 9.0% of current Hanil Iron price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.09 | |
| Spearman Rank Test | 0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 19.9 K |
Hanil Iron Steel lagged returns against current returns
Autocorrelation, which is Hanil Iron 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 Hanil Iron's stock expected returns. We can calculate the autocorrelation of Hanil Iron returns to help us make a trade decision. For example, suppose you find that Hanil Iron 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 |
Hanil Iron 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 Hanil Iron stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanil Iron stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanil Iron stock over time.
Current vs Lagged Prices |
| Timeline |
Hanil Iron Lagged Returns
When evaluating Hanil Iron's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanil Iron stock have on its future price. Hanil Iron 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, Hanil Iron autocorrelation shows the relationship between Hanil Iron stock current value and its past values and can show if there is a momentum factor associated with investing in Hanil Iron Steel.
Regressed Prices |
| Timeline |
Pair Trading with Hanil Iron
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 Hanil Iron 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 Hanil Iron will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hanil Iron could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanil Iron 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 Hanil Iron - 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 Hanil Iron Steel to buy it.
The correlation of Hanil Iron 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 Hanil Iron moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanil Iron Steel 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 Hanil Iron 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.Other Information on Investing in Hanil Stock
Hanil Iron financial ratios help investors to determine whether Hanil Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Hanil with respect to the benefits of owning Hanil Iron security.