Hwashin Precision (Korea) Market Value
| 126640 Stock | KRW 1,205 2.00 0.17% |
| Symbol | Hwashin |
Hwashin Precision '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 Hwashin Precision'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 Hwashin Precision.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Hwashin Precision on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Hwashin Precision Engineering or generate 0.0% return on investment in Hwashin Precision over 90 days. Hwashin Precision is related to or competes with Dongbang Transport, Dongwon Metal, Hanjin Transportation, Kukil Metal, Choil Aluminum, CU Medical, and Lotte Non. Hwashin Precision Engineering Co., Ltd. manufactures and supplies automobile chassis and body components. More
Hwashin Precision 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 Hwashin Precision'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 Hwashin Precision Engineering upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 9.59 | |||
| Value At Risk | (2.10) | |||
| Potential Upside | 1.57 |
Hwashin Precision Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hwashin Precision's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hwashin Precision's standard deviation. In reality, there are many statistical measures that can use Hwashin Precision historical prices to predict the future Hwashin Precision's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.35) | |||
| Treynor Ratio | (1.04) |
Hwashin Precision Backtested Returns
Hwashin Precision holds Efficiency (Sharpe) Ratio of -0.15, which attests that the entity had a -0.15% return per unit of standard deviation over the last 3 months. Hwashin Precision exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hwashin Precision's risk adjusted performance of (0.08), and Market Risk Adjusted Performance of (1.03) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.14, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hwashin Precision's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hwashin Precision is expected to be smaller as well. At this point, Hwashin Precision has a negative expected return of -0.19%. Please make sure to check out Hwashin Precision's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Hwashin Precision performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.48 |
Modest reverse predictability
Hwashin Precision Engineering has modest reverse predictability. Overlapping area represents the amount of predictability between Hwashin Precision time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th 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 Hwashin Precision price movement. The serial correlation of -0.48 indicates that about 48.0% of current Hwashin Precision price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.48 | |
| Residual Average | 0.0 | |
| Price Variance | 3049.75 |
Hwashin Precision lagged returns against current returns
Autocorrelation, which is Hwashin Precision 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 Hwashin Precision's stock expected returns. We can calculate the autocorrelation of Hwashin Precision returns to help us make a trade decision. For example, suppose you find that Hwashin Precision 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 |
Hwashin Precision 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 Hwashin Precision stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hwashin Precision stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hwashin Precision stock over time.
Current vs Lagged Prices |
| Timeline |
Hwashin Precision Lagged Returns
When evaluating Hwashin Precision's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hwashin Precision stock have on its future price. Hwashin Precision 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, Hwashin Precision autocorrelation shows the relationship between Hwashin Precision stock current value and its past values and can show if there is a momentum factor associated with investing in Hwashin Precision Engineering.
Regressed Prices |
| Timeline |
Pair Trading with Hwashin Precision
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 Hwashin Precision 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 Hwashin Precision will appreciate offsetting losses from the drop in the long position's value.Moving together with Hwashin Stock
Moving against Hwashin Stock
| 0.72 | 329180 | Hyundai Heavy Industries | PairCorr |
| 0.51 | 008830 | Daedong Gear | PairCorr |
| 0.49 | 182360 | Cube Entertainment | PairCorr |
| 0.42 | 111710 | Namhwa Industrial | PairCorr |
The ability to find closely correlated positions to Hwashin Precision could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hwashin Precision 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 Hwashin Precision - 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 Hwashin Precision Engineering to buy it.
The correlation of Hwashin Precision 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 Hwashin Precision moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hwashin Precision 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 Hwashin Precision 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 Hwashin Stock
Hwashin Precision financial ratios help investors to determine whether Hwashin 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 Hwashin with respect to the benefits of owning Hwashin Precision security.