Hitek Global Ordinary Stock Market Value
| HKIT Stock | 5.00 3.71 287.60% |
| Symbol | Hitek |
Hitek Global Ordinary Price To Book Ratio
Is Application Software space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Hitek Global. If investors know Hitek will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Hitek Global listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.83) | Earnings Share 0.04 | Revenue Per Share 0.24 | Quarterly Revenue Growth (0.38) | Return On Assets (0.01) |
The market value of Hitek Global Ordinary is measured differently than its book value, which is the value of Hitek that is recorded on the company's balance sheet. Investors also form their own opinion of Hitek Global's value that differs from its market value or its book value, called intrinsic value, which is Hitek Global's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Hitek Global's market value can be influenced by many factors that don't directly affect Hitek Global's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Hitek Global's value and its price as these two are different measures arrived at by different means. Investors typically determine if Hitek Global is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Hitek Global's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Hitek Global '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 Hitek Global'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 Hitek Global.
| 05/26/2024 |
| 11/22/2024 |
If you would invest 0.00 in Hitek Global on May 26, 2024 and sell it all today you would earn a total of 0.00 from holding Hitek Global Ordinary or generate 0.0% return on investment in Hitek Global over 180 days. Hitek Global is related to or competes with Enfusion, E2open Parent, Envestnet, Clearwater Analytics, Expensify, Issuer Direct, and EGain. Hitek Global is entity of United States. It is traded as Stock on NASDAQ exchange. More
Hitek Global 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 Hitek Global'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 Hitek Global Ordinary upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 27.63 | |||
| Value At Risk | (5.85) | |||
| Potential Upside | 8.23 |
Hitek Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hitek Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hitek Global's standard deviation. In reality, there are many statistical measures that can use Hitek Global historical prices to predict the future Hitek Global's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.07) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | 0.4347 |
Hitek Global Ordinary Backtested Returns
Hitek Global Ordinary 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. Hitek Global Ordinary exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hitek Global's Standard Deviation of 4.36, market risk adjusted performance of 0.4447, and Risk Adjusted Performance of (0.01) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.21, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hitek Global are expected to decrease at a much lower rate. During the bear market, Hitek Global is likely to outperform the market. At this point, Hitek Global Ordinary has a negative expected return of -0.43%. Please make sure to check out Hitek Global's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Hitek Global Ordinary performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.37 |
Below average predictability
Hitek Global Ordinary has below average predictability. Overlapping area represents the amount of predictability between Hitek Global time series from 26th of May 2024 to 24th of August 2024 and 24th of August 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 Hitek Global Ordinary price movement. The serial correlation of 0.37 indicates that just about 37.0% of current Hitek Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.37 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Hitek Global Ordinary lagged returns against current returns
Autocorrelation, which is Hitek Global 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 Hitek Global's stock expected returns. We can calculate the autocorrelation of Hitek Global returns to help us make a trade decision. For example, suppose you find that Hitek Global 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 |
Hitek Global 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 Hitek Global stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hitek Global stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hitek Global stock over time.
Current vs Lagged Prices |
| Timeline |
Hitek Global Lagged Returns
When evaluating Hitek Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hitek Global stock have on its future price. Hitek Global 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, Hitek Global autocorrelation shows the relationship between Hitek Global stock current value and its past values and can show if there is a momentum factor associated with investing in Hitek Global Ordinary.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Additional Tools for Hitek Stock Analysis
When running Hitek Global's price analysis, check to measure Hitek Global's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Hitek Global is operating at the current time. Most of Hitek Global's value examination focuses on studying past and present price action to predict the probability of Hitek Global's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hitek Global's price. Additionally, you may evaluate how the addition of Hitek Global to your portfolios can decrease your overall portfolio volatility.