Hydract AS (Denmark) Market Value
| HYDRCT Stock | DKK 0.31 0.07 29.17% |
| Symbol | Hydract |
Hydract AS '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 Hydract AS'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 Hydract AS.
| 05/07/2023 |
| 11/27/2024 |
If you would invest 0.00 in Hydract AS on May 7, 2023 and sell it all today you would earn a total of 0.00 from holding Hydract AS or generate 0.0% return on investment in Hydract AS over 570 days. Hydract AS is related to or competes with CBrain AS, Penneo AS, Shape Robotics, ALK Abell, and ChemoMetec. Hydract AS develops water hydraulic solutions for the beverage producers More
Hydract AS 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 Hydract AS'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 Hydract AS upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 100.0 | |||
| Value At Risk | (22.66) | |||
| Potential Upside | 29.41 |
Hydract AS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hydract AS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hydract AS's standard deviation. In reality, there are many statistical measures that can use Hydract AS historical prices to predict the future Hydract AS's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.34) | |||
| Total Risk Alpha | (3.25) | |||
| Treynor Ratio | 0.278 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hydract AS'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.
Hydract AS Backtested Returns
Hydract AS holds Efficiency (Sharpe) Ratio of -0.0037, which attests that the entity had a -0.0037% return per unit of risk over the last 3 months. Hydract AS exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hydract AS's Risk Adjusted Performance of (0.02), market risk adjusted performance of 0.288, and Standard Deviation of 17.13 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -2.14, which attests to a somewhat significant risk relative to the market. As returns on the market increase, returns on owning Hydract AS are expected to decrease by larger amounts. On the other hand, during market turmoil, Hydract AS is expected to outperform it. At this point, Hydract AS has a negative expected return of -0.066%. Please make sure to check out Hydract AS's jensen alpha and the relationship between the potential upside and price action indicator , to decide if Hydract AS performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.51 |
Good reverse predictability
Hydract AS has good reverse predictability. Overlapping area represents the amount of predictability between Hydract AS time series from 7th of May 2023 to 16th of February 2024 and 16th of February 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 Hydract AS price movement. The serial correlation of -0.51 indicates that about 51.0% of current Hydract AS price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.51 | |
| Spearman Rank Test | -0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 0.4 |
Hydract AS lagged returns against current returns
Autocorrelation, which is Hydract AS 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 Hydract AS's stock expected returns. We can calculate the autocorrelation of Hydract AS returns to help us make a trade decision. For example, suppose you find that Hydract AS 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 |
Hydract AS 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 Hydract AS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hydract AS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hydract AS stock over time.
Current vs Lagged Prices |
| Timeline |
Hydract AS Lagged Returns
When evaluating Hydract AS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hydract AS stock have on its future price. Hydract AS 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, Hydract AS autocorrelation shows the relationship between Hydract AS stock current value and its past values and can show if there is a momentum factor associated with investing in Hydract AS.
Regressed Prices |
| Timeline |
Pair Trading with Hydract AS
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 Hydract AS 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 Hydract AS will appreciate offsetting losses from the drop in the long position's value.Moving together with Hydract Stock
Moving against Hydract Stock
The ability to find closely correlated positions to Hydract AS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hydract AS 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 Hydract AS - 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 Hydract AS to buy it.
The correlation of Hydract AS 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 Hydract AS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hydract AS 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 Hydract AS 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 Hydract Stock
Hydract AS financial ratios help investors to determine whether Hydract 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 Hydract with respect to the benefits of owning Hydract AS security.