Handok Clean (Korea) Market Value
| 256150 Stock | KRW 6,420 20.00 0.31% |
| Symbol | Handok |
Handok Clean '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 Handok Clean'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 Handok Clean.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Handok Clean on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Handok Clean Tech or generate 0.0% return on investment in Handok Clean over 180 days. Handok Clean is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. Handok Clean Tech Co., Ltd. produces and sells filters for water purifiers in South Korea More
Handok Clean 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 Handok Clean'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 Handok Clean Tech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 6.97 | |||
| Value At Risk | (1.86) | |||
| Potential Upside | 1.85 |
Handok Clean Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Handok Clean's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Handok Clean's standard deviation. In reality, there are many statistical measures that can use Handok Clean historical prices to predict the future Handok Clean's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (14.36) |
Handok Clean Tech Backtested Returns
Handok Clean Tech holds Efficiency (Sharpe) Ratio of -0.14, which attests that the entity had a -0.14% return per unit of risk over the last 3 months. Handok Clean Tech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Handok Clean's Standard Deviation of 1.07, market risk adjusted performance of (14.35), and Risk Adjusted Performance of (0.11) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0118, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Handok Clean's returns are expected to increase less than the market. However, during the bear market, the loss of holding Handok Clean is expected to be smaller as well. At this point, Handok Clean Tech has a negative expected return of -0.16%. Please make sure to check out Handok Clean's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Handok Clean Tech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.09 |
Virtually no predictability
Handok Clean Tech has virtually no predictability. Overlapping area represents the amount of predictability between Handok Clean time series from 30th of May 2024 to 28th of August 2024 and 28th of August 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 Handok Clean Tech price movement. The serial correlation of 0.09 indicates that less than 9.0% of current Handok Clean price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | -0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 58 K |
Handok Clean Tech lagged returns against current returns
Autocorrelation, which is Handok Clean 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 Handok Clean's stock expected returns. We can calculate the autocorrelation of Handok Clean returns to help us make a trade decision. For example, suppose you find that Handok Clean 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 |
Handok Clean 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 Handok Clean stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Handok Clean stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Handok Clean stock over time.
Current vs Lagged Prices |
| Timeline |
Handok Clean Lagged Returns
When evaluating Handok Clean's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Handok Clean stock have on its future price. Handok Clean 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, Handok Clean autocorrelation shows the relationship between Handok Clean stock current value and its past values and can show if there is a momentum factor associated with investing in Handok Clean Tech.
Regressed Prices |
| Timeline |
Pair Trading with Handok Clean
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 Handok Clean 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 Handok Clean will appreciate offsetting losses from the drop in the long position's value.Moving against Handok Stock
The ability to find closely correlated positions to Handok Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Handok Clean 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 Handok Clean - 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 Handok Clean Tech to buy it.
The correlation of Handok Clean 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 Handok Clean moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Handok Clean Tech 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 Handok Clean 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 Handok Stock
Handok Clean financial ratios help investors to determine whether Handok 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 Handok with respect to the benefits of owning Handok Clean security.