HH International (Denmark) Market Value
| HH Stock | DKK 79.10 0.70 0.88% |
| Symbol | HH International |
HH 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 HH 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 HH International.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in HH International on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding HH International AS or generate 0.0% return on investment in HH International over 90 days. HH International is related to or competes with ROCKWOOL International, Per Aarsleff, Matas AS, DFDS AS, and ALK Abell. HH International AS produces and sells autoclaved aerated concrete and calcium silicate wall building materials in North... More
HH 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 HH 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 HH International AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 8.25 | |||
| Value At Risk | (2.22) | |||
| Potential Upside | 2.36 |
HH International Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HH International's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HH International's standard deviation. In reality, there are many statistical measures that can use HH International historical prices to predict the future HH International's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.51) | |||
| Treynor Ratio | (1.19) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of HH 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.
HH International Backtested Returns
HH International retains Efficiency (Sharpe Ratio) of -0.21, which attests that the entity had a -0.21% return per unit of price deviation over the last 3 months. HH International exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out HH International's Market Risk Adjusted Performance of (1.18), coefficient of variation of (486.06), and Information Ratio of (0.30) to validate the risk estimate we provide. The company owns a Beta (Systematic Risk) of 0.25, which attests to not very significant fluctuations relative to the market. As returns on the market increase, HH International's returns are expected to increase less than the market. However, during the bear market, the loss of holding HH International is expected to be smaller as well. At this point, HH International has a negative expected return of -0.29%. Please make sure to check out HH International's potential upside, day median price, and the relationship between the treynor ratio and accumulation distribution , to decide if HH International performance from the past will be repeated sooner or later.
Auto-correlation | 0.80 |
Very good predictability
HH International AS has very good predictability. Overlapping area represents the amount of predictability between HH International time series from 29th of August 2024 to 13th of October 2024 and 13th of October 2024 to 27th 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 HH International price movement. The serial correlation of 0.8 indicates that around 80.0% of current HH International price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.8 | |
| Spearman Rank Test | 0.83 | |
| Residual Average | 0.0 | |
| Price Variance | 13.31 |
HH International lagged returns against current returns
Autocorrelation, which is HH 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 HH International's stock expected returns. We can calculate the autocorrelation of HH International returns to help us make a trade decision. For example, suppose you find that HH 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 |
HH 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 HH International stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HH International stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HH International stock over time.
Current vs Lagged Prices |
| Timeline |
HH International Lagged Returns
When evaluating HH International's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HH International stock have on its future price. HH 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, HH International autocorrelation shows the relationship between HH International stock current value and its past values and can show if there is a momentum factor associated with investing in HH International AS.
Regressed Prices |
| Timeline |
Pair Trading with HH 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 HH 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 HH International will appreciate offsetting losses from the drop in the long position's value.Moving against HH International Stock
| 0.72 | MAERSK-B | AP Mller | PairCorr |
| 0.72 | MAERSK-A | AP Mller | PairCorr |
| 0.65 | DSV | DSV Panalpina AS | PairCorr |
| 0.36 | NDA-DK | Nordea Bank Abp | PairCorr |
| 0.33 | ROCK-A | ROCKWOOL International Earnings Call Today | PairCorr |
The ability to find closely correlated positions to HH 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 HH 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 HH 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 HH International AS to buy it.
The correlation of HH 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 HH International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HH 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 HH 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.Other Information on Investing in HH International Stock
HH International financial ratios help investors to determine whether HH International 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 HH International with respect to the benefits of owning HH International security.