Heroux Devtek Stock Market Value
| HRX Stock | CAD 31.51 0.21 0.66% |
| Symbol | Heroux |
Heroux Devtek Price To Book Ratio
Heroux Devtek '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 Heroux Devtek'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 Heroux Devtek.
| 01/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in Heroux Devtek on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding Heroux Devtek or generate 0.0% return on investment in Heroux Devtek over 690 days. Heroux Devtek is related to or competes with CAE, Cascades, Savaria, and Magellan Aerospace. Hroux-Devtek Inc. engages in the design, development, manufacture, and repair and overhaul of aircraft landing gears, hy... More
Heroux Devtek 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 Heroux Devtek'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 Heroux Devtek upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3188 | |||
| Information Ratio | (0.42) | |||
| Maximum Drawdown | 1.58 | |||
| Value At Risk | (0.53) | |||
| Potential Upside | 0.3125 |
Heroux Devtek Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Heroux Devtek's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Heroux Devtek's standard deviation. In reality, there are many statistical measures that can use Heroux Devtek historical prices to predict the future Heroux Devtek's volatility.| Risk Adjusted Performance | 0.0087 | |||
| Jensen Alpha | (0) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.36) | |||
| Treynor Ratio | (0.02) |
Heroux Devtek Backtested Returns
As of now, Heroux Stock is very steady. Heroux Devtek holds Efficiency (Sharpe) Ratio of 0.0415, which attests that the entity had a 0.0415% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Heroux Devtek, which you can use to evaluate the volatility of the firm. Please check out Heroux Devtek's Market Risk Adjusted Performance of (0.01), downside deviation of 0.3188, and Risk Adjusted Performance of 0.0087 to validate if the risk estimate we provide is consistent with the expected return of 0.0117%. Heroux Devtek has a performance score of 3 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.0302, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Heroux Devtek's returns are expected to increase less than the market. However, during the bear market, the loss of holding Heroux Devtek is expected to be smaller as well. Heroux Devtek right now retains a risk of 0.28%. Please check out Heroux Devtek semi variance, and the relationship between the maximum drawdown and accumulation distribution , to decide if Heroux Devtek will be following its current trending patterns.
Auto-correlation | 0.79 |
Good predictability
Heroux Devtek has good predictability. Overlapping area represents the amount of predictability between Heroux Devtek time series from 9th of January 2023 to 20th of December 2023 and 20th of December 2023 to 29th 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 Heroux Devtek price movement. The serial correlation of 0.79 indicates that around 79.0% of current Heroux Devtek price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 42.62 |
Heroux Devtek lagged returns against current returns
Autocorrelation, which is Heroux Devtek 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 Heroux Devtek's stock expected returns. We can calculate the autocorrelation of Heroux Devtek returns to help us make a trade decision. For example, suppose you find that Heroux Devtek 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 |
Heroux Devtek 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 Heroux Devtek stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Heroux Devtek stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Heroux Devtek stock over time.
Current vs Lagged Prices |
| Timeline |
Heroux Devtek Lagged Returns
When evaluating Heroux Devtek's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Heroux Devtek stock have on its future price. Heroux Devtek 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, Heroux Devtek autocorrelation shows the relationship between Heroux Devtek stock current value and its past values and can show if there is a momentum factor associated with investing in Heroux Devtek.
Regressed Prices |
| Timeline |
Other Information on Investing in Heroux Stock
Heroux Devtek financial ratios help investors to determine whether Heroux 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 Heroux with respect to the benefits of owning Heroux Devtek security.