HANOVER INS GROUP Market Value
| 410867AF2 | 98.57 0.79 0.80% |
| Symbol | HANOVER |
HANOVER '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 HANOVER's bond 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 HANOVER.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in HANOVER on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding HANOVER INS GROUP or generate 0.0% return on investment in HANOVER over 510 days. HANOVER is related to or competes with WPP PLC, Stagwell, United Rentals, Vestis, Ultra Clean, Verde Clean, and WiMi Hologram. More
HANOVER 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 HANOVER's bond 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 HANOVER INS GROUP upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.48) | |||
| Maximum Drawdown | 1.44 | |||
| Value At Risk | (0.45) | |||
| Potential Upside | 0.4332 |
HANOVER Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for HANOVER's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as HANOVER's standard deviation. In reality, there are many statistical measures that can use HANOVER historical prices to predict the future HANOVER's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | (0.64) |
HANOVER INS GROUP Backtested Returns
HANOVER INS GROUP holds Efficiency (Sharpe) Ratio of -0.0768, which attests that the bond had a -0.0768% return per unit of volatility over the last 3 months. HANOVER INS GROUP exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out HANOVER's coefficient of variation of (2,609), and Market Risk Adjusted Performance of (0.63) to validate the risk estimate we provide. The entity retains a Market Volatility (i.e., Beta) of 0.0328, which attests to not very significant fluctuations relative to the market. As returns on the market increase, HANOVER's returns are expected to increase less than the market. However, during the bear market, the loss of holding HANOVER is expected to be smaller as well.
Auto-correlation | 0.82 |
Very good predictability
HANOVER INS GROUP has very good predictability. Overlapping area represents the amount of predictability between HANOVER time series from 5th of July 2023 to 16th of March 2024 and 16th of March 2024 to 26th 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 HANOVER INS GROUP price movement. The serial correlation of 0.82 indicates that around 82.0% of current HANOVER price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.82 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 0.66 |
HANOVER INS GROUP lagged returns against current returns
Autocorrelation, which is HANOVER bond'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 HANOVER's bond expected returns. We can calculate the autocorrelation of HANOVER returns to help us make a trade decision. For example, suppose you find that HANOVER has exhibited high autocorrelation historically, and you observe that the bond 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 |
HANOVER 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 HANOVER bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if HANOVER bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in HANOVER bond over time.
Current vs Lagged Prices |
| Timeline |
HANOVER Lagged Returns
When evaluating HANOVER's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of HANOVER bond have on its future price. HANOVER 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, HANOVER autocorrelation shows the relationship between HANOVER bond current value and its past values and can show if there is a momentum factor associated with investing in HANOVER INS GROUP.
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 HANOVER Bond
HANOVER financial ratios help investors to determine whether HANOVER Bond 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 HANOVER with respect to the benefits of owning HANOVER security.