Hanwha ARIRANG (Korea) Market Value
| 289670 Etf | 56,460 460.00 0.82% |
| Symbol | Hanwha |
Hanwha ARIRANG '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 Hanwha ARIRANG's etf 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 Hanwha ARIRANG.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in Hanwha ARIRANG on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding Hanwha ARIRANG KTB or generate 0.0% return on investment in Hanwha ARIRANG over 360 days.
Hanwha ARIRANG 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 Hanwha ARIRANG's etf 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 Hanwha ARIRANG KTB upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3916 | |||
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 1.47 | |||
| Value At Risk | (0.53) | |||
| Potential Upside | 0.5334 |
Hanwha ARIRANG Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanwha ARIRANG's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanwha ARIRANG's standard deviation. In reality, there are many statistical measures that can use Hanwha ARIRANG historical prices to predict the future Hanwha ARIRANG's volatility.| Risk Adjusted Performance | 0.0588 | |||
| Jensen Alpha | 0.0162 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.27) | |||
| Treynor Ratio | 0.5458 |
Hanwha ARIRANG KTB Backtested Returns
At this point, Hanwha ARIRANG is very steady. Hanwha ARIRANG KTB holds Efficiency (Sharpe) Ratio of 0.17, which attests that the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hanwha ARIRANG KTB, which you can use to evaluate the volatility of the entity. Please check out Hanwha ARIRANG's Risk Adjusted Performance of 0.0588, market risk adjusted performance of 0.5558, and Downside Deviation of 0.3916 to validate if the risk estimate we provide is consistent with the expected return of 0.0547%. The etf retains a Market Volatility (i.e., Beta) of 0.0388, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hanwha ARIRANG's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hanwha ARIRANG is expected to be smaller as well.
Auto-correlation | -0.14 |
Insignificant reverse predictability
Hanwha ARIRANG KTB has insignificant reverse predictability. Overlapping area represents the amount of predictability between Hanwha ARIRANG time series from 7th of December 2023 to 4th of June 2024 and 4th of June 2024 to 1st of December 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 Hanwha ARIRANG KTB price movement. The serial correlation of -0.14 indicates that less than 14.0% of current Hanwha ARIRANG price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.14 | |
| Spearman Rank Test | -0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 466.8 K |
Hanwha ARIRANG KTB lagged returns against current returns
Autocorrelation, which is Hanwha ARIRANG etf'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 Hanwha ARIRANG's etf expected returns. We can calculate the autocorrelation of Hanwha ARIRANG returns to help us make a trade decision. For example, suppose you find that Hanwha ARIRANG has exhibited high autocorrelation historically, and you observe that the etf 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 |
Hanwha ARIRANG 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 Hanwha ARIRANG etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanwha ARIRANG etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanwha ARIRANG etf over time.
Current vs Lagged Prices |
| Timeline |
Hanwha ARIRANG Lagged Returns
When evaluating Hanwha ARIRANG's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanwha ARIRANG etf have on its future price. Hanwha ARIRANG 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, Hanwha ARIRANG autocorrelation shows the relationship between Hanwha ARIRANG etf current value and its past values and can show if there is a momentum factor associated with investing in Hanwha ARIRANG KTB.
Regressed Prices |
| Timeline |
Pair Trading with Hanwha ARIRANG
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 Hanwha ARIRANG 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 Hanwha ARIRANG will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Hanwha ARIRANG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanwha ARIRANG 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 Hanwha ARIRANG - 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 Hanwha ARIRANG KTB to buy it.
The correlation of Hanwha ARIRANG 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 Hanwha ARIRANG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanwha ARIRANG KTB 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 Hanwha ARIRANG 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.