Hyundai Glovis (Korea) Market Value
| 086280 Stock | 123,000 2,000 1.60% |
| Symbol | Hyundai |
Hyundai Glovis '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 Hyundai Glovis' 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 Hyundai Glovis.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Hyundai Glovis on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Hyundai Glovis or generate 0.0% return on investment in Hyundai Glovis over 30 days. Hyundai Glovis is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. More
Hyundai Glovis 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 Hyundai Glovis' 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 Hyundai Glovis upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.55 | |||
| Information Ratio | 0.0383 | |||
| Maximum Drawdown | 10.85 | |||
| Value At Risk | (2.90) | |||
| Potential Upside | 5.32 |
Hyundai Glovis Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyundai Glovis' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyundai Glovis' standard deviation. In reality, there are many statistical measures that can use Hyundai Glovis historical prices to predict the future Hyundai Glovis' volatility.| Risk Adjusted Performance | 0.0852 | |||
| Jensen Alpha | 0.2119 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0525 | |||
| Treynor Ratio | (9.64) |
Hyundai Glovis Backtested Returns
At this point, Hyundai Glovis is very steady. Hyundai Glovis holds Efficiency (Sharpe) Ratio of 0.0849, which attests that the entity had a 0.0849% return per unit of risk over the last 3 months. We have found thirty technical indicators for Hyundai Glovis, which you can use to evaluate the volatility of the firm. Please check out Hyundai Glovis' Market Risk Adjusted Performance of (9.63), risk adjusted performance of 0.0852, and Downside Deviation of 1.55 to validate if the risk estimate we provide is consistent with the expected return of 0.17%. Hyundai Glovis has a performance score of 6 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.0217, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hyundai Glovis are expected to decrease at a much lower rate. During the bear market, Hyundai Glovis is likely to outperform the market. Hyundai Glovis right now retains a risk of 1.95%. Please check out Hyundai Glovis total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if Hyundai Glovis will be following its current trending patterns.
Auto-correlation | -0.72 |
Almost perfect reverse predictability
Hyundai Glovis has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Hyundai Glovis time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Hyundai Glovis price movement. The serial correlation of -0.72 indicates that around 72.0% of current Hyundai Glovis price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.72 | |
| Spearman Rank Test | -0.89 | |
| Residual Average | 0.0 | |
| Price Variance | 11.2 M |
Hyundai Glovis lagged returns against current returns
Autocorrelation, which is Hyundai Glovis 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 Hyundai Glovis' stock expected returns. We can calculate the autocorrelation of Hyundai Glovis returns to help us make a trade decision. For example, suppose you find that Hyundai Glovis 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 |
Hyundai Glovis 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 Hyundai Glovis stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyundai Glovis stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyundai Glovis stock over time.
Current vs Lagged Prices |
| Timeline |
Hyundai Glovis Lagged Returns
When evaluating Hyundai Glovis' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyundai Glovis stock have on its future price. Hyundai Glovis 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, Hyundai Glovis autocorrelation shows the relationship between Hyundai Glovis stock current value and its past values and can show if there is a momentum factor associated with investing in Hyundai Glovis.
Regressed Prices |
| Timeline |
Pair Trading with Hyundai Glovis
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 Hyundai Glovis 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 Hyundai Glovis will appreciate offsetting losses from the drop in the long position's value.Moving against Hyundai Stock
The ability to find closely correlated positions to Hyundai Glovis could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hyundai Glovis 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 Hyundai Glovis - 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 Hyundai Glovis to buy it.
The correlation of Hyundai Glovis 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 Hyundai Glovis moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyundai Glovis 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 Hyundai Glovis 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 Hyundai Stock
Hyundai Glovis financial ratios help investors to determine whether Hyundai 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 Hyundai with respect to the benefits of owning Hyundai Glovis security.