Hana Materials (Korea) Market Value
| 166090 Stock | KRW 24,350 200.00 0.81% |
| Symbol | Hana |
Hana Materials '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 Hana Materials' 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 Hana Materials.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Hana Materials on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Hana Materials or generate 0.0% return on investment in Hana Materials over 720 days. Hana Materials is related to or competes with SK Hynix, People Technology, SIMMTECH, Haesung DS, and SS TECH. Hana Materials Inc. manufactures and sells silicon electrodes and rings in South Korea More
Hana Materials 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 Hana Materials' 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 Hana Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 12.98 | |||
| Value At Risk | (4.40) | |||
| Potential Upside | 4.05 |
Hana Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hana Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hana Materials' standard deviation. In reality, there are many statistical measures that can use Hana Materials historical prices to predict the future Hana Materials' volatility.| Risk Adjusted Performance | (0.20) | |||
| Jensen Alpha | (0.73) | |||
| Total Risk Alpha | (1.19) | |||
| Treynor Ratio | 3.14 |
Hana Materials Backtested Returns
Hana Materials holds Efficiency (Sharpe) Ratio of -0.2, which attests that the entity had a -0.2% return per unit of risk over the last 3 months. Hana Materials exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hana Materials' Risk Adjusted Performance of (0.20), market risk adjusted performance of 3.15, and Standard Deviation of 2.74 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.24, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hana Materials are expected to decrease at a much lower rate. During the bear market, Hana Materials is likely to outperform the market. At this point, Hana Materials has a negative expected return of -0.56%. Please make sure to check out Hana Materials' jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hana Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.3 |
Weak reverse predictability
Hana Materials has weak reverse predictability. Overlapping area represents the amount of predictability between Hana Materials time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 Hana Materials price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current Hana Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | -0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 120.6 M |
Hana Materials lagged returns against current returns
Autocorrelation, which is Hana Materials 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 Hana Materials' stock expected returns. We can calculate the autocorrelation of Hana Materials returns to help us make a trade decision. For example, suppose you find that Hana Materials 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 |
Hana Materials 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 Hana Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hana Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hana Materials stock over time.
Current vs Lagged Prices |
| Timeline |
Hana Materials Lagged Returns
When evaluating Hana Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hana Materials stock have on its future price. Hana Materials 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, Hana Materials autocorrelation shows the relationship between Hana Materials stock current value and its past values and can show if there is a momentum factor associated with investing in Hana Materials.
Regressed Prices |
| Timeline |
Pair Trading with Hana Materials
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 Hana Materials 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 Hana Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with Hana Stock
| 0.95 | 108320 | LX Semicon | PairCorr |
| 0.98 | 064760 | Tokai Carbon Korea | PairCorr |
| 0.69 | 137400 | People Technology | PairCorr |
Moving against Hana Stock
The ability to find closely correlated positions to Hana Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hana Materials 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 Hana Materials - 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 Hana Materials to buy it.
The correlation of Hana Materials 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 Hana Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hana Materials 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 Hana Materials 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 Hana Stock
Hana Materials financial ratios help investors to determine whether Hana 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 Hana with respect to the benefits of owning Hana Materials security.