Hanwha Chemical (Korea) Market Value
| 009830 Stock | 16,850 90.00 0.54% |
| Symbol | Hanwha |
Hanwha Chemical '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 Hanwha Chemical'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 Hanwha Chemical.
| 11/14/2024 |
| 12/14/2024 |
If you would invest 0.00 in Hanwha Chemical on November 14, 2024 and sell it all today you would earn a total of 0.00 from holding Hanwha Chemical Corp or generate 0.0% return on investment in Hanwha Chemical over 30 days. Hanwha Chemical is related to or competes with Daou Technology, Hana Technology, Pan Entertainment, Nasmedia, AeroSpace Technology, and KG Eco. More
Hanwha Chemical 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 Hanwha Chemical'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 Hanwha Chemical Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 18.84 | |||
| Value At Risk | (5.87) | |||
| Potential Upside | 6.36 |
Hanwha Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hanwha Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hanwha Chemical's standard deviation. In reality, there are many statistical measures that can use Hanwha Chemical historical prices to predict the future Hanwha Chemical's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.38) | |||
| Total Risk Alpha | (0.91) | |||
| Treynor Ratio | 0.5408 |
Hanwha Chemical Corp Backtested Returns
Hanwha Chemical Corp holds Efficiency (Sharpe) Ratio of -0.14, which attests that the entity had a -0.14% return per unit of risk over the last 3 months. Hanwha Chemical Corp exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hanwha Chemical's Standard Deviation of 3.62, risk adjusted performance of (0.08), and Market Risk Adjusted Performance of 0.5508 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.85, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hanwha Chemical are expected to decrease at a much lower rate. During the bear market, Hanwha Chemical is likely to outperform the market. At this point, Hanwha Chemical Corp has a negative expected return of -0.52%. Please make sure to check out Hanwha Chemical's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hanwha Chemical Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.61 |
Good predictability
Hanwha Chemical Corp has good predictability. Overlapping area represents the amount of predictability between Hanwha Chemical time series from 14th of November 2024 to 29th of November 2024 and 29th of November 2024 to 14th of December 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 Hanwha Chemical Corp price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current Hanwha Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | -0.35 | |
| Residual Average | 0.0 | |
| Price Variance | 457.3 K |
Hanwha Chemical Corp lagged returns against current returns
Autocorrelation, which is Hanwha Chemical 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 Hanwha Chemical's stock expected returns. We can calculate the autocorrelation of Hanwha Chemical returns to help us make a trade decision. For example, suppose you find that Hanwha Chemical 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 |
Hanwha Chemical 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 Hanwha Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hanwha Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hanwha Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Hanwha Chemical Lagged Returns
When evaluating Hanwha Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hanwha Chemical stock have on its future price. Hanwha Chemical 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, Hanwha Chemical autocorrelation shows the relationship between Hanwha Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Hanwha Chemical Corp.
Regressed Prices |
| Timeline |
Pair Trading with Hanwha Chemical
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 Hanwha Chemical 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 Hanwha Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Hanwha Stock
| 0.81 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.68 | 215480 | Daewoo SBI SPAC | PairCorr |
| 0.96 | 302430 | Innometry | PairCorr |
Moving against Hanwha Stock
The ability to find closely correlated positions to Hanwha Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hanwha Chemical 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 Hanwha Chemical - 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 Hanwha Chemical Corp to buy it.
The correlation of Hanwha Chemical 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 Hanwha Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hanwha Chemical Corp 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 Hanwha Chemical 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 Hanwha Stock
Hanwha Chemical financial ratios help investors to determine whether Hanwha 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 Hanwha with respect to the benefits of owning Hanwha Chemical security.