La Hien (Vietnam) Market Value
| CLH Stock | 21,800 200.00 0.91% |
| Symbol | CLH |
La Hien '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 La Hien'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 La Hien.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in La Hien on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding La Hien Cement or generate 0.0% return on investment in La Hien over 720 days.
La Hien 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 La Hien'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 La Hien Cement upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 5.31 | |||
| Value At Risk | (1.74) | |||
| Potential Upside | 1.37 |
La Hien Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for La Hien's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as La Hien's standard deviation. In reality, there are many statistical measures that can use La Hien historical prices to predict the future La Hien's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | 0.5409 |
La Hien Cement Backtested Returns
La Hien Cement retains Efficiency (Sharpe Ratio) of -0.0741, which conveys that the firm had a -0.0741% return per unit of price deviation over the last 3 months. La Hien exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify La Hien's Market Risk Adjusted Performance of 0.5509, mean deviation of 0.6958, and Information Ratio of (0.20) to check out the risk estimate we provide. The company owns a Beta (Systematic Risk) of -0.12, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning La Hien are expected to decrease at a much lower rate. During the bear market, La Hien is likely to outperform the market. At this point, La Hien Cement has a negative expected return of -0.067%. Please make sure to verify La Hien's standard deviation, kurtosis, period momentum indicator, as well as the relationship between the maximum drawdown and day median price , to decide if La Hien Cement performance from the past will be repeated at some future date.
Auto-correlation | 0.02 |
Virtually no predictability
La Hien Cement has virtually no predictability. Overlapping area represents the amount of predictability between La Hien time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 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 La Hien Cement price movement. The serial correlation of 0.02 indicates that only 2.0% of current La Hien price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 1 M |
La Hien Cement lagged returns against current returns
Autocorrelation, which is La Hien 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 La Hien's stock expected returns. We can calculate the autocorrelation of La Hien returns to help us make a trade decision. For example, suppose you find that La Hien 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 |
La Hien 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 La Hien stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if La Hien stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in La Hien stock over time.
Current vs Lagged Prices |
| Timeline |
La Hien Lagged Returns
When evaluating La Hien's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of La Hien stock have on its future price. La Hien 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, La Hien autocorrelation shows the relationship between La Hien stock current value and its past values and can show if there is a momentum factor associated with investing in La Hien Cement.
Regressed Prices |
| Timeline |
Pair Trading with La Hien
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 La Hien 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 La Hien will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to La Hien could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace La Hien 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 La Hien - 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 La Hien Cement to buy it.
The correlation of La Hien 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 La Hien moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if La Hien Cement 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 La Hien 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.