Hannong Chemicals (Korea) Market Value
| 011500 Stock | 14,510 110.00 0.75% |
| Symbol | Hannong |
Hannong Chemicals '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 Hannong Chemicals' 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 Hannong Chemicals.
| 11/28/2023 |
| 11/22/2024 |
If you would invest 0.00 in Hannong Chemicals on November 28, 2023 and sell it all today you would earn a total of 0.00 from holding Hannong Chemicals or generate 0.0% return on investment in Hannong Chemicals over 360 days. Hannong Chemicals is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Hannong Chemicals 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 Hannong Chemicals' 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 Hannong Chemicals upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.27 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 29.47 | |||
| Value At Risk | (7.41) | |||
| Potential Upside | 8.31 |
Hannong Chemicals Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hannong Chemicals' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hannong Chemicals' standard deviation. In reality, there are many statistical measures that can use Hannong Chemicals historical prices to predict the future Hannong Chemicals' volatility.| Risk Adjusted Performance | 0.0094 | |||
| Jensen Alpha | 0.0047 | |||
| Total Risk Alpha | (0.65) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | 0.0459 |
Hannong Chemicals Backtested Returns
Hannong Chemicals holds Efficiency (Sharpe) Ratio of -0.0858, which attests that the entity had a -0.0858% return per unit of risk over the last 3 months. Hannong Chemicals exposes twenty-nine different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hannong Chemicals' Risk Adjusted Performance of 0.0094, market risk adjusted performance of 0.0559, and Downside Deviation of 4.27 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0881, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hannong Chemicals are expected to decrease at a much lower rate. During the bear market, Hannong Chemicals is likely to outperform the market. At this point, Hannong Chemicals has a negative expected return of -0.39%. Please make sure to check out Hannong Chemicals' coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if Hannong Chemicals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.65 |
Good predictability
Hannong Chemicals has good predictability. Overlapping area represents the amount of predictability between Hannong Chemicals time series from 28th of November 2023 to 26th of May 2024 and 26th of May 2024 to 22nd 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 Hannong Chemicals price movement. The serial correlation of 0.65 indicates that roughly 65.0% of current Hannong Chemicals price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.65 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 6.6 M |
Hannong Chemicals lagged returns against current returns
Autocorrelation, which is Hannong Chemicals 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 Hannong Chemicals' stock expected returns. We can calculate the autocorrelation of Hannong Chemicals returns to help us make a trade decision. For example, suppose you find that Hannong Chemicals 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 |
Hannong Chemicals 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 Hannong Chemicals stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hannong Chemicals stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hannong Chemicals stock over time.
Current vs Lagged Prices |
| Timeline |
Hannong Chemicals Lagged Returns
When evaluating Hannong Chemicals' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hannong Chemicals stock have on its future price. Hannong Chemicals 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, Hannong Chemicals autocorrelation shows the relationship between Hannong Chemicals stock current value and its past values and can show if there is a momentum factor associated with investing in Hannong Chemicals.
Regressed Prices |
| Timeline |
Pair Trading with Hannong Chemicals
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 Hannong Chemicals 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 Hannong Chemicals will appreciate offsetting losses from the drop in the long position's value.Moving together with Hannong Stock
The ability to find closely correlated positions to Hannong Chemicals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hannong Chemicals 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 Hannong Chemicals - 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 Hannong Chemicals to buy it.
The correlation of Hannong Chemicals 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 Hannong Chemicals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hannong Chemicals 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 Hannong Chemicals 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 Hannong Stock
Hannong Chemicals financial ratios help investors to determine whether Hannong 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 Hannong with respect to the benefits of owning Hannong Chemicals security.