Haesung Industrial (Korea) Market Value
| 034810 Stock | 6,070 100.00 1.68% |
| Symbol | Haesung |
Haesung Industrial '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 Haesung Industrial'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 Haesung Industrial.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Haesung Industrial on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Haesung Industrial Co or generate 0.0% return on investment in Haesung Industrial over 30 days. Haesung Industrial is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. More
Haesung Industrial 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 Haesung Industrial'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 Haesung Industrial Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 10.4 | |||
| Value At Risk | (2.88) | |||
| Potential Upside | 2.72 |
Haesung Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Haesung Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Haesung Industrial's standard deviation. In reality, there are many statistical measures that can use Haesung Industrial historical prices to predict the future Haesung Industrial's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | 2.35 |
Haesung Industrial Backtested Returns
Haesung Industrial holds Efficiency (Sharpe) Ratio of -0.0974, which attests that the entity had a -0.0974% return per unit of risk over the last 3 months. Haesung Industrial exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Haesung Industrial's Market Risk Adjusted Performance of 2.36, standard deviation of 1.69, and Risk Adjusted Performance of (0.08) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0872, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Haesung Industrial are expected to decrease at a much lower rate. During the bear market, Haesung Industrial is likely to outperform the market. At this point, Haesung Industrial has a negative expected return of -0.17%. Please make sure to check out Haesung Industrial's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Haesung Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.24 |
Weak predictability
Haesung Industrial Co has weak predictability. Overlapping area represents the amount of predictability between Haesung Industrial time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Haesung Industrial price movement. The serial correlation of 0.24 indicates that over 24.0% of current Haesung Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | -0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 40.9 K |
Haesung Industrial lagged returns against current returns
Autocorrelation, which is Haesung Industrial 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 Haesung Industrial's stock expected returns. We can calculate the autocorrelation of Haesung Industrial returns to help us make a trade decision. For example, suppose you find that Haesung Industrial 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 |
Haesung Industrial 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 Haesung Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Haesung Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Haesung Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Haesung Industrial Lagged Returns
When evaluating Haesung Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Haesung Industrial stock have on its future price. Haesung Industrial 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, Haesung Industrial autocorrelation shows the relationship between Haesung Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Haesung Industrial Co.
Regressed Prices |
| Timeline |
Pair Trading with Haesung Industrial
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 Haesung Industrial 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 Haesung Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with Haesung Stock
| 0.61 | 013120 | DongWon Development CoLtd | PairCorr |
| 0.66 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.69 | 215480 | Daewoo SBI SPAC | PairCorr |
The ability to find closely correlated positions to Haesung Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Haesung Industrial 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 Haesung Industrial - 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 Haesung Industrial Co to buy it.
The correlation of Haesung Industrial 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 Haesung Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Haesung Industrial 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 Haesung Industrial 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 Haesung Stock
Haesung Industrial financial ratios help investors to determine whether Haesung 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 Haesung with respect to the benefits of owning Haesung Industrial security.