Hexa Tradex (India) Market Value
| HEXATRADEX | 271.85 6.05 2.18% |
| Symbol | Hexa |
Hexa Tradex '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 Hexa Tradex'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 Hexa Tradex.
| 09/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in Hexa Tradex on September 23, 2024 and sell it all today you would earn a total of 0.00 from holding Hexa Tradex Limited or generate 0.0% return on investment in Hexa Tradex over 60 days. Hexa Tradex is related to or competes with MRF, Honeywell Automation, Divis Laboratories, Indo Borax, Kingfa Science, Alkali Metals, and Gravita India. Hexa Tradex is entity of India. It is traded as Stock on NSE exchange. More
Hexa Tradex 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 Hexa Tradex'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 Hexa Tradex Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.44 | |||
| Information Ratio | 0.0269 | |||
| Maximum Drawdown | 10.01 | |||
| Value At Risk | (4.99) | |||
| Potential Upside | 5.0 |
Hexa Tradex Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hexa Tradex's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hexa Tradex's standard deviation. In reality, there are many statistical measures that can use Hexa Tradex historical prices to predict the future Hexa Tradex's volatility.| Risk Adjusted Performance | 0.0521 | |||
| Jensen Alpha | 0.2039 | |||
| Total Risk Alpha | (0.26) | |||
| Sortino Ratio | 0.0275 | |||
| Treynor Ratio | (1.95) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hexa Tradex'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.
Hexa Tradex Limited Backtested Returns
At this point, Hexa Tradex is very steady. Hexa Tradex Limited holds Efficiency (Sharpe) Ratio of 0.0081, which attests that the entity had a 0.0081% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hexa Tradex Limited, which you can use to evaluate the volatility of the firm. Please check out Hexa Tradex's Market Risk Adjusted Performance of (1.94), downside deviation of 3.44, and Risk Adjusted Performance of 0.0521 to validate if the risk estimate we provide is consistent with the expected return of 0.0285%. The company retains a Market Volatility (i.e., Beta) of -0.0996, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hexa Tradex are expected to decrease at a much lower rate. During the bear market, Hexa Tradex is likely to outperform the market. Hexa Tradex Limited right now retains a risk of 3.5%. Please check out Hexa Tradex downside variance, as well as the relationship between the accumulation distribution and market facilitation index , to decide if Hexa Tradex will be following its current trending patterns.
Auto-correlation | -0.7 |
Very good reverse predictability
Hexa Tradex Limited has very good reverse predictability. Overlapping area represents the amount of predictability between Hexa Tradex time series from 23rd of September 2024 to 23rd of October 2024 and 23rd of October 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 Hexa Tradex Limited price movement. The serial correlation of -0.7 indicates that around 70.0% of current Hexa Tradex price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.7 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 120.24 |
Hexa Tradex Limited lagged returns against current returns
Autocorrelation, which is Hexa Tradex 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 Hexa Tradex's stock expected returns. We can calculate the autocorrelation of Hexa Tradex returns to help us make a trade decision. For example, suppose you find that Hexa Tradex 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 |
Hexa Tradex 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 Hexa Tradex stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hexa Tradex stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hexa Tradex stock over time.
Current vs Lagged Prices |
| Timeline |
Hexa Tradex Lagged Returns
When evaluating Hexa Tradex's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hexa Tradex stock have on its future price. Hexa Tradex 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, Hexa Tradex autocorrelation shows the relationship between Hexa Tradex stock current value and its past values and can show if there is a momentum factor associated with investing in Hexa Tradex Limited.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Hexa Stock
Hexa Tradex financial ratios help investors to determine whether Hexa 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 Hexa with respect to the benefits of owning Hexa Tradex security.