Haynes International Market Value
| HAYNDelisted Stock | USD 60.99 0.02 0.03% |
| Symbol | Haynes |
Haynes International '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 Haynes International'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 Haynes International.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in Haynes International on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding Haynes International or generate 0.0% return on investment in Haynes International over 30 days. Haynes International is related to or competes with Insteel Industries, Mayville Engineering, Gulf Island, ESAB Corp, Northwest Pipe, Ryerson Holding, and Allegheny Technologies. Haynes International, Inc. develops, manufactures, markets, and distributes nickel and cobalt-based alloys in sheet, coi... More
Haynes International 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 Haynes International'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 Haynes International upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3327 | |||
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 1.98 | |||
| Value At Risk | (0.43) | |||
| Potential Upside | 0.6423 |
Haynes International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Haynes International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Haynes International's standard deviation. In reality, there are many statistical measures that can use Haynes International historical prices to predict the future Haynes International's volatility.| Risk Adjusted Performance | 0.0651 | |||
| Jensen Alpha | 0.0271 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.29) | |||
| Treynor Ratio | (0.71) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Haynes International's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Haynes International Backtested Returns
As of now, Haynes Stock is very steady. Haynes International holds Efficiency (Sharpe) Ratio of 0.11, which attests that the entity had a 0.11% return per unit of risk over the last 3 months. We have found thirty technical indicators for Haynes International, which you can use to evaluate the volatility of the firm. Please check out Haynes International's Downside Deviation of 0.3327, risk adjusted performance of 0.0651, and Market Risk Adjusted Performance of (0.70) to validate if the risk estimate we provide is consistent with the expected return of 0.0333%. Haynes International has a performance score of 8 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.0326, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Haynes International are expected to decrease at a much lower rate. During the bear market, Haynes International is likely to outperform the market. Haynes International right now retains a risk of 0.31%. Please check out Haynes International downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Haynes International will be following its current trending patterns.
Auto-correlation | 0.11 |
Insignificant predictability
Haynes International has insignificant predictability. Overlapping area represents the amount of predictability between Haynes International time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 Haynes International price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Haynes International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.11 | |
| Spearman Rank Test | 0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 0.03 |
Haynes International lagged returns against current returns
Autocorrelation, which is Haynes International 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 Haynes International's stock expected returns. We can calculate the autocorrelation of Haynes International returns to help us make a trade decision. For example, suppose you find that Haynes International 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 |
Haynes International 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 Haynes International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Haynes International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Haynes International stock over time.
Current vs Lagged Prices |
| Timeline |
Haynes International Lagged Returns
When evaluating Haynes International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Haynes International stock have on its future price. Haynes International 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, Haynes International autocorrelation shows the relationship between Haynes International stock current value and its past values and can show if there is a momentum factor associated with investing in Haynes International.
Regressed Prices |
| Timeline |
Pair Trading with Haynes International
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 Haynes International 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 Haynes International will appreciate offsetting losses from the drop in the long position's value.Moving together with Haynes Stock
Moving against Haynes Stock
| 0.71 | ATI | Allegheny Technologies | PairCorr |
| 0.65 | AP | Ampco Pittsburgh | PairCorr |
| 0.58 | WOR | Worthington Industries | PairCorr |
| 0.48 | MEC | Mayville Engineering | PairCorr |
| 0.41 | IIIN | Insteel Industries | PairCorr |
The ability to find closely correlated positions to Haynes International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Haynes International 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 Haynes International - 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 Haynes International to buy it.
The correlation of Haynes International 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 Haynes International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Haynes International 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 Haynes International 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.Check out Haynes International Correlation, Haynes International Volatility and Haynes International Alpha and Beta module to complement your research on Haynes International. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
Other Consideration for investing in Haynes Stock
If you are still planning to invest in Haynes International check if it may still be traded through OTC markets such as Pink Sheets or OTC Bulletin Board. You may also purchase it directly from the company, but this is not always possible and may require contacting the company directly. Please note that delisted stocks are often considered to be more risky investments, as they are no longer subject to the same regulatory and reporting requirements as listed stocks. Therefore, it is essential to carefully research the Haynes International's history and understand the potential risks before investing.
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |