Hyundai Engineering (Korea) Market Value
| 089470 Stock | 3,720 100.00 2.76% |
| Symbol | Hyundai |
Hyundai Engineering '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 Engineering'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 Hyundai Engineering.
| 09/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in Hyundai Engineering on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Hyundai Engineering Plastics or generate 0.0% return on investment in Hyundai Engineering over 60 days. Hyundai Engineering is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Hyundai Engineering 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 Engineering'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 Hyundai Engineering Plastics upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 6.99 | |||
| Value At Risk | (2.34) | |||
| Potential Upside | 2.44 |
Hyundai Engineering Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyundai Engineering's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyundai Engineering's standard deviation. In reality, there are many statistical measures that can use Hyundai Engineering historical prices to predict the future Hyundai Engineering's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.23) | |||
| Total Risk Alpha | (0.48) | |||
| Treynor Ratio | 3.91 |
Hyundai Engineering Backtested Returns
Hyundai Engineering holds Efficiency (Sharpe) Ratio of -0.22, which attests that the entity had a -0.22% return per unit of risk over the last 3 months. Hyundai Engineering exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hyundai Engineering's Standard Deviation of 1.51, market risk adjusted performance of 3.92, and Risk Adjusted Performance of (0.11) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0615, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hyundai Engineering are expected to decrease at a much lower rate. During the bear market, Hyundai Engineering is likely to outperform the market. At this point, Hyundai Engineering has a negative expected return of -0.32%. Please make sure to check out Hyundai Engineering's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Hyundai Engineering performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Hyundai Engineering Plastics has very good predictability. Overlapping area represents the amount of predictability between Hyundai Engineering time series from 28th of September 2024 to 28th of October 2024 and 28th of October 2024 to 27th 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 Engineering price movement. The serial correlation of 0.83 indicates that around 83.0% of current Hyundai Engineering price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 18.5 K |
Hyundai Engineering lagged returns against current returns
Autocorrelation, which is Hyundai Engineering 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 Engineering's stock expected returns. We can calculate the autocorrelation of Hyundai Engineering returns to help us make a trade decision. For example, suppose you find that Hyundai Engineering 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 Engineering 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 Engineering stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyundai Engineering stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyundai Engineering stock over time.
Current vs Lagged Prices |
| Timeline |
Hyundai Engineering Lagged Returns
When evaluating Hyundai Engineering's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyundai Engineering stock have on its future price. Hyundai Engineering 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 Engineering autocorrelation shows the relationship between Hyundai Engineering stock current value and its past values and can show if there is a momentum factor associated with investing in Hyundai Engineering Plastics.
Regressed Prices |
| Timeline |
Pair Trading with Hyundai Engineering
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 Engineering 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 Engineering will appreciate offsetting losses from the drop in the long position's value.Moving together with Hyundai Stock
| 0.77 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.89 | 215480 | Daewoo SBI SPAC | PairCorr |
| 0.93 | 302430 | Innometry | PairCorr |
Moving against Hyundai Stock
The ability to find closely correlated positions to Hyundai Engineering 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 Engineering 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 Engineering - 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 Engineering Plastics to buy it.
The correlation of Hyundai Engineering 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 Engineering moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyundai Engineering 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 Engineering 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 Engineering 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 Engineering security.