Hitech (India) Market Value
| HITECHCORP | 233.80 3.55 1.54% |
| Symbol | Hitech |
Hitech '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 Hitech'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 Hitech.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Hitech on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Hitech Limited or generate 0.0% return on investment in Hitech over 30 days. Hitech is related to or competes with NMDC, Steel Authority, Embassy Office, Gujarat Narmada, Gujarat Alkalies, Indian Metals, and JTL Industries. Hitech is entity of India. It is traded as Stock on NSE exchange. More
Hitech 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 Hitech'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 Hitech Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.76 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 26.1 | |||
| Value At Risk | (4.44) | |||
| Potential Upside | 5.71 |
Hitech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hitech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hitech's standard deviation. In reality, there are many statistical measures that can use Hitech historical prices to predict the future Hitech's volatility.| Risk Adjusted Performance | 0.0303 | |||
| Jensen Alpha | 0.099 | |||
| Total Risk Alpha | (0.52) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | 1.88 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hitech'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.
Hitech Limited Backtested Returns
At this point, Hitech is very steady. Hitech Limited holds Efficiency (Sharpe) Ratio of 0.0255, which attests that the entity had a 0.0255% return per unit of risk over the last 3 months. We have found thirty technical indicators for Hitech Limited, which you can use to evaluate the volatility of the firm. Please check out Hitech's Market Risk Adjusted Performance of 1.89, downside deviation of 2.76, and Risk Adjusted Performance of 0.0303 to validate if the risk estimate we provide is consistent with the expected return of 0.1%. Hitech has a performance score of 2 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0563, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hitech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hitech is expected to be smaller as well. Hitech Limited right now retains a risk of 4.07%. Please check out Hitech skewness, day typical price, and the relationship between the downside variance and daily balance of power , to decide if Hitech will be following its current trending patterns.
Auto-correlation | -0.34 |
Poor reverse predictability
Hitech Limited has poor reverse predictability. Overlapping area represents the amount of predictability between Hitech time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Hitech Limited price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Hitech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 112.04 |
Hitech Limited lagged returns against current returns
Autocorrelation, which is Hitech 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 Hitech's stock expected returns. We can calculate the autocorrelation of Hitech returns to help us make a trade decision. For example, suppose you find that Hitech 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 |
Hitech 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 Hitech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hitech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hitech stock over time.
Current vs Lagged Prices |
| Timeline |
Hitech Lagged Returns
When evaluating Hitech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hitech stock have on its future price. Hitech 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, Hitech autocorrelation shows the relationship between Hitech stock current value and its past values and can show if there is a momentum factor associated with investing in Hitech 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 Hitech Stock
Hitech financial ratios help investors to determine whether Hitech 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 Hitech with respect to the benefits of owning Hitech security.