HNX's market value is the price at which a share of HNX trades on a public exchange. It measures the collective expectations of HNX investors about its performance. HNX is enlisted at 224.64 as of the 30th of November 2024; that is 0.48% up since the beginning of the trading day. The index's open price was 223.57. With this module, you can estimate the performance of a buy and hold strategy of HNX and determine expected loss or profit from investing in HNX over a given investment horizon. Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any index could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
HNX
HNX '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 HNX's index 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 HNX.
0.00
10/31/2024
No Change 0.00
0.0
In 31 days
11/30/2024
0.00
If you would invest 0.00 in HNX on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding HNX or generate 0.0% return on investment in HNX over 30 days.
HNX 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 HNX's index 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 HNX upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for HNX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HNX's standard deviation. In reality, there are many statistical measures that can use HNX historical prices to predict the future HNX's volatility.
HNX holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of standard deviation over the last 3 months. HNX exposes twenty different technical indicators, which can help you to evaluate volatility embedded in its price movement. The index retains a Market Volatility (i.e., Beta) of 0.0, which attests to not very significant fluctuations relative to the market. the returns on MARKET and HNX are completely uncorrelated.
Auto-correlation
-0.02
Very weak reverse predictability
HNX has very weak reverse predictability. Overlapping area represents the amount of predictability between HNX time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 HNX price movement. The serial correlation of -0.02 indicates that only 2.0% of current HNX price fluctuation can be explain by its past prices.
Correlation Coefficient
-0.02
Spearman Rank Test
0.32
Residual Average
0.0
Price Variance
1.79
HNX lagged returns against current returns
Autocorrelation, which is HNX index'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 HNX's index expected returns. We can calculate the autocorrelation of HNX returns to help us make a trade decision. For example, suppose you find that HNX has exhibited high autocorrelation historically, and you observe that the index 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
HNX 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 HNX index is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HNX index is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HNX index over time.
Current vs Lagged Prices
Timeline
HNX Lagged Returns
When evaluating HNX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HNX index have on its future price. HNX 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, HNX autocorrelation shows the relationship between HNX index current value and its past values and can show if there is a momentum factor associated with investing in HNX.
Regressed Prices
Timeline
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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.