Hanjin Transportation (Korea) Market Value
| 002320 Stock | 18,460 80.00 0.44% |
| Symbol | Hanjin |
Hanjin Transportation '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 Hanjin Transportation'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 Hanjin Transportation.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Hanjin Transportation on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Hanjin Transportation Co or generate 0.0% return on investment in Hanjin Transportation over 30 days. Hanjin Transportation is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Hanjin Transportation 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 Hanjin Transportation'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 Hanjin Transportation Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 7.39 | |||
| Value At Risk | (2.71) | |||
| Potential Upside | 1.65 |
Hanjin Transportation Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanjin Transportation's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanjin Transportation's standard deviation. In reality, there are many statistical measures that can use Hanjin Transportation historical prices to predict the future Hanjin Transportation's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.24) | |||
| Treynor Ratio | 0.335 |
Hanjin Transportation Backtested Returns
Hanjin Transportation holds Efficiency (Sharpe) Ratio of -0.0697, which attests that the entity had a -0.0697% return per unit of risk over the last 3 months. Hanjin Transportation exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hanjin Transportation's Risk Adjusted Performance of (0.01), market risk adjusted performance of 0.345, and Standard Deviation of 1.29 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.11, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hanjin Transportation are expected to decrease at a much lower rate. During the bear market, Hanjin Transportation is likely to outperform the market. At this point, Hanjin Transportation has a negative expected return of -0.0928%. Please make sure to check out Hanjin Transportation's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hanjin Transportation performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.58 |
Good reverse predictability
Hanjin Transportation Co has good reverse predictability. Overlapping area represents the amount of predictability between Hanjin Transportation time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Hanjin Transportation price movement. The serial correlation of -0.58 indicates that roughly 58.0% of current Hanjin Transportation price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.58 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 120.3 K |
Hanjin Transportation lagged returns against current returns
Autocorrelation, which is Hanjin Transportation 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 Hanjin Transportation's stock expected returns. We can calculate the autocorrelation of Hanjin Transportation returns to help us make a trade decision. For example, suppose you find that Hanjin Transportation 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 |
Hanjin Transportation 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 Hanjin Transportation stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanjin Transportation stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanjin Transportation stock over time.
Current vs Lagged Prices |
| Timeline |
Hanjin Transportation Lagged Returns
When evaluating Hanjin Transportation's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanjin Transportation stock have on its future price. Hanjin Transportation 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, Hanjin Transportation autocorrelation shows the relationship between Hanjin Transportation stock current value and its past values and can show if there is a momentum factor associated with investing in Hanjin Transportation Co.
Regressed Prices |
| Timeline |
Pair Trading with Hanjin Transportation
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 Hanjin Transportation 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 Hanjin Transportation will appreciate offsetting losses from the drop in the long position's value.Moving together with Hanjin Stock
| 0.76 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.66 | 215480 | Daewoo SBI SPAC | PairCorr |
| 0.73 | 302430 | Innometry | PairCorr |
The ability to find closely correlated positions to Hanjin Transportation could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanjin Transportation 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 Hanjin Transportation - 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 Hanjin Transportation Co to buy it.
The correlation of Hanjin Transportation 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 Hanjin Transportation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanjin Transportation 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 Hanjin Transportation 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 Hanjin Stock
Hanjin Transportation financial ratios help investors to determine whether Hanjin 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 Hanjin with respect to the benefits of owning Hanjin Transportation security.