Hanjoo Light (Korea) Market Value
| 198940 Stock | 834.00 1.00 0.12% |
| Symbol | Hanjoo |
Please note, there is a significant difference between Hanjoo Light's value and its price as these two are different measures arrived at by different means. Investors typically determine if Hanjoo Light is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hanjoo Light's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Hanjoo Light '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 Hanjoo Light'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 Hanjoo Light.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Hanjoo Light on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Hanjoo Light Metal or generate 0.0% return on investment in Hanjoo Light over 30 days. Hanjoo Light is related to or competes with Samsung Electronics, Samsung Electronics, LG Energy, SK Hynix, Samsung Biologics, LG Chem, and LG Chemicals. More
Hanjoo Light 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 Hanjoo Light'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 Hanjoo Light Metal upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 18.71 | |||
| Value At Risk | (3.65) | |||
| Potential Upside | 3.03 |
Hanjoo Light Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanjoo Light's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanjoo Light's standard deviation. In reality, there are many statistical measures that can use Hanjoo Light historical prices to predict the future Hanjoo Light's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.67) | |||
| Treynor Ratio | 0.5961 |
Hanjoo Light Metal Backtested Returns
Hanjoo Light Metal 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. Hanjoo Light Metal exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hanjoo Light's Market Risk Adjusted Performance of 0.6061, standard deviation of 2.66, and Risk Adjusted Performance of (0.08) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.54, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hanjoo Light are expected to decrease at a much lower rate. During the bear market, Hanjoo Light is likely to outperform the market. At this point, Hanjoo Light Metal has a negative expected return of -0.48%. Please make sure to check out Hanjoo Light's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Hanjoo Light Metal performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.29 |
Weak reverse predictability
Hanjoo Light Metal has weak reverse predictability. Overlapping area represents the amount of predictability between Hanjoo Light time series from 24th of October 2024 to 8th of November 2024 and 8th of November 2024 to 23rd 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 Hanjoo Light Metal price movement. The serial correlation of -0.29 indicates that nearly 29.0% of current Hanjoo Light price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.29 | |
| Spearman Rank Test | -0.25 | |
| Residual Average | 0.0 | |
| Price Variance | 1889.32 |
Hanjoo Light Metal lagged returns against current returns
Autocorrelation, which is Hanjoo Light 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 Hanjoo Light's stock expected returns. We can calculate the autocorrelation of Hanjoo Light returns to help us make a trade decision. For example, suppose you find that Hanjoo Light 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 |
Hanjoo Light 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 Hanjoo Light stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanjoo Light stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanjoo Light stock over time.
Current vs Lagged Prices |
| Timeline |
Hanjoo Light Lagged Returns
When evaluating Hanjoo Light's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanjoo Light stock have on its future price. Hanjoo Light 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, Hanjoo Light autocorrelation shows the relationship between Hanjoo Light stock current value and its past values and can show if there is a momentum factor associated with investing in Hanjoo Light Metal.
Regressed Prices |
| Timeline |
Pair Trading with Hanjoo Light
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 Hanjoo Light 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 Hanjoo Light will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hanjoo Light could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanjoo Light 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 Hanjoo Light - 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 Hanjoo Light Metal to buy it.
The correlation of Hanjoo Light 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 Hanjoo Light moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanjoo Light Metal 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 Hanjoo Light 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 Hanjoo Stock
Hanjoo Light financial ratios help investors to determine whether Hanjoo 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 Hanjoo with respect to the benefits of owning Hanjoo Light security.