Hyosung Chemical (Korea) Market Value
| 298000 Stock | 31,350 550.00 1.79% |
| Symbol | Hyosung |
Hyosung Chemical '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 Hyosung Chemical'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 Hyosung Chemical.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Hyosung Chemical on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding Hyosung Chemical Corp or generate 0.0% return on investment in Hyosung Chemical over 30 days. Hyosung Chemical is related to or competes with HB Technology, Puloon Technology, Green Cross, Sung Bo, Asia Technology, Konan Technology, and CU Medical. More
Hyosung Chemical 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 Hyosung Chemical'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 Hyosung Chemical Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 15.05 | |||
| Value At Risk | (4.19) | |||
| Potential Upside | 2.91 |
Hyosung Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyosung Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyosung Chemical's standard deviation. In reality, there are many statistical measures that can use Hyosung Chemical historical prices to predict the future Hyosung Chemical's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (0.85) | |||
| Treynor Ratio | 3.6 |
Hyosung Chemical Corp Backtested Returns
Hyosung Chemical Corp holds Efficiency (Sharpe) Ratio of -0.28, which attests that the entity had a -0.28% return per unit of risk over the last 3 months. Hyosung Chemical Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hyosung Chemical's Standard Deviation of 2.38, market risk adjusted performance of 3.61, and Risk Adjusted Performance of (0.16) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.15, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hyosung Chemical are expected to decrease at a much lower rate. During the bear market, Hyosung Chemical is likely to outperform the market. At this point, Hyosung Chemical Corp has a negative expected return of -0.67%. Please make sure to check out Hyosung Chemical's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Hyosung Chemical Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.21 |
Weak predictability
Hyosung Chemical Corp has weak predictability. Overlapping area represents the amount of predictability between Hyosung Chemical time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 Hyosung Chemical Corp price movement. The serial correlation of 0.21 indicates that over 21.0% of current Hyosung Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.38 | |
| Residual Average | 0.0 | |
| Price Variance | 6.4 M |
Hyosung Chemical Corp lagged returns against current returns
Autocorrelation, which is Hyosung Chemical 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 Hyosung Chemical's stock expected returns. We can calculate the autocorrelation of Hyosung Chemical returns to help us make a trade decision. For example, suppose you find that Hyosung Chemical 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 |
Hyosung Chemical 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 Hyosung Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyosung Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyosung Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Hyosung Chemical Lagged Returns
When evaluating Hyosung Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyosung Chemical stock have on its future price. Hyosung Chemical 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, Hyosung Chemical autocorrelation shows the relationship between Hyosung Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Hyosung Chemical Corp.
Regressed Prices |
| Timeline |
Pair Trading with Hyosung Chemical
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 Hyosung Chemical 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 Hyosung Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Hyosung Stock
Moving against Hyosung Stock
The ability to find closely correlated positions to Hyosung Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hyosung Chemical 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 Hyosung Chemical - 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 Hyosung Chemical Corp to buy it.
The correlation of Hyosung Chemical 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 Hyosung Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyosung Chemical Corp 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 Hyosung Chemical 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 Hyosung Stock
Hyosung Chemical financial ratios help investors to determine whether Hyosung 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 Hyosung with respect to the benefits of owning Hyosung Chemical security.