Hanyang ENG (Korea) Market Value
| 045100 Stock | KRW 16,710 260.00 1.53% |
| Symbol | Hanyang |
Hanyang ENG '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 Hanyang ENG'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 Hanyang ENG.
| 10/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Hanyang ENG on October 30, 2024 and sell it all today you would earn a total of 0.00 from holding Hanyang ENG Co or generate 0.0% return on investment in Hanyang ENG over 30 days. Hanyang ENG is related to or competes with HB Technology, Global Standard, Hwangkum Steel, Shinsegae Information, Eagle Veterinary, Woori Technology, and CG Hi. Hanyang ENG Co., Ltd. manufactures and sells semiconductor equipment in South Korea and internationally. More
Hanyang ENG 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 Hanyang ENG'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 Hanyang ENG Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 8.73 | |||
| Value At Risk | (2.04) | |||
| Potential Upside | 2.81 |
Hanyang ENG Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanyang ENG's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanyang ENG's standard deviation. In reality, there are many statistical measures that can use Hanyang ENG historical prices to predict the future Hanyang ENG's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | (0.67) |
Hanyang ENG Backtested Returns
Hanyang ENG holds Efficiency (Sharpe) Ratio of -0.0772, which attests that the entity had a -0.0772% return per unit of risk over the last 3 months. Hanyang ENG exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hanyang ENG's Standard Deviation of 1.73, risk adjusted performance of (0.06), and Market Risk Adjusted Performance of (0.66) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.22, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hanyang ENG's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hanyang ENG is expected to be smaller as well. At this point, Hanyang ENG has a negative expected return of -0.12%. Please make sure to check out Hanyang ENG's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hanyang ENG performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Hanyang ENG Co has insignificant reverse predictability. Overlapping area represents the amount of predictability between Hanyang ENG time series from 30th of October 2024 to 14th of November 2024 and 14th of November 2024 to 29th 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 Hanyang ENG price movement. The serial correlation of -0.19 indicates that over 19.0% of current Hanyang ENG price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 27.6 K |
Hanyang ENG lagged returns against current returns
Autocorrelation, which is Hanyang ENG 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 Hanyang ENG's stock expected returns. We can calculate the autocorrelation of Hanyang ENG returns to help us make a trade decision. For example, suppose you find that Hanyang ENG 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 |
Hanyang ENG 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 Hanyang ENG stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanyang ENG stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanyang ENG stock over time.
Current vs Lagged Prices |
| Timeline |
Hanyang ENG Lagged Returns
When evaluating Hanyang ENG's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanyang ENG stock have on its future price. Hanyang ENG 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, Hanyang ENG autocorrelation shows the relationship between Hanyang ENG stock current value and its past values and can show if there is a momentum factor associated with investing in Hanyang ENG Co.
Regressed Prices |
| Timeline |
Pair Trading with Hanyang ENG
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 Hanyang ENG 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 Hanyang ENG will appreciate offsetting losses from the drop in the long position's value.Moving together with Hanyang Stock
Moving against Hanyang Stock
| 0.7 | 105560 | KB Financial Group | PairCorr |
| 0.59 | 024110 | Industrial Bank | PairCorr |
| 0.55 | 032830 | Samsung Life | PairCorr |
| 0.47 | 316140 | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to Hanyang ENG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanyang ENG 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 Hanyang ENG - 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 Hanyang ENG Co to buy it.
The correlation of Hanyang ENG 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 Hanyang ENG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanyang ENG 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 Hanyang ENG 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 Hanyang Stock
Hanyang ENG financial ratios help investors to determine whether Hanyang 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 Hanyang with respect to the benefits of owning Hanyang ENG security.