Handelsbanken Emerging (Ireland) Market Value
| 0P0001F3XI | 218.82 2.10 0.95% |
| Symbol | Handelsbanken |
Handelsbanken Emerging '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 Handelsbanken Emerging's fund 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 Handelsbanken Emerging.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Handelsbanken Emerging on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Handelsbanken Emerging Markets or generate 0.0% return on investment in Handelsbanken Emerging over 30 days.
Handelsbanken Emerging 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 Handelsbanken Emerging's fund 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 Handelsbanken Emerging Markets upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.8175 | |||
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 5.62 | |||
| Value At Risk | (1.16) | |||
| Potential Upside | 1.37 |
Handelsbanken Emerging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Handelsbanken Emerging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Handelsbanken Emerging's standard deviation. In reality, there are many statistical measures that can use Handelsbanken Emerging historical prices to predict the future Handelsbanken Emerging's volatility.| Risk Adjusted Performance | 0.0567 | |||
| Jensen Alpha | 0.0223 | |||
| Total Risk Alpha | (0.09) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | 0.2234 |
Handelsbanken Emerging Backtested Returns
At this point, Handelsbanken Emerging is very steady. Handelsbanken Emerging holds Efficiency (Sharpe) Ratio of 0.0555, which attests that the entity had a 0.0555% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Handelsbanken Emerging, which you can use to evaluate the volatility of the entity. Please check out Handelsbanken Emerging's Downside Deviation of 0.8175, risk adjusted performance of 0.0567, and Market Risk Adjusted Performance of 0.2334 to validate if the risk estimate we provide is consistent with the expected return of 0.0465%. The fund retains a Market Volatility (i.e., Beta) of 0.23, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Handelsbanken Emerging's returns are expected to increase less than the market. However, during the bear market, the loss of holding Handelsbanken Emerging is expected to be smaller as well.
Auto-correlation | 0.70 |
Good predictability
Handelsbanken Emerging Markets has good predictability. Overlapping area represents the amount of predictability between Handelsbanken Emerging 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 Handelsbanken Emerging price movement. The serial correlation of 0.7 indicates that around 70.0% of current Handelsbanken Emerging price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 1.01 |
Handelsbanken Emerging lagged returns against current returns
Autocorrelation, which is Handelsbanken Emerging fund'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 Handelsbanken Emerging's fund expected returns. We can calculate the autocorrelation of Handelsbanken Emerging returns to help us make a trade decision. For example, suppose you find that Handelsbanken Emerging has exhibited high autocorrelation historically, and you observe that the fund 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 |
Handelsbanken Emerging 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 Handelsbanken Emerging fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Handelsbanken Emerging fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Handelsbanken Emerging fund over time.
Current vs Lagged Prices |
| Timeline |
Handelsbanken Emerging Lagged Returns
When evaluating Handelsbanken Emerging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Handelsbanken Emerging fund have on its future price. Handelsbanken Emerging 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, Handelsbanken Emerging autocorrelation shows the relationship between Handelsbanken Emerging fund current value and its past values and can show if there is a momentum factor associated with investing in Handelsbanken Emerging Markets.
Regressed Prices |
| Timeline |
Pair Trading with Handelsbanken Emerging
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 Handelsbanken Emerging 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 Handelsbanken Emerging will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Handelsbanken Emerging could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Handelsbanken Emerging 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 Handelsbanken Emerging - 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 Handelsbanken Emerging Markets to buy it.
The correlation of Handelsbanken Emerging 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 Handelsbanken Emerging moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Handelsbanken Emerging 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 Handelsbanken Emerging 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.| Fundamental Analysis View fundamental data based on most recent published financial statements | |
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