Hansol Chemica (Korea) Market Value
| 014680 Stock | 97,400 7,500 8.34% |
| Symbol | Hansol |
Hansol Chemica '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 Hansol Chemica'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 Hansol Chemica.
| 01/21/2023 |
| 12/11/2024 |
If you would invest 0.00 in Hansol Chemica on January 21, 2023 and sell it all today you would earn a total of 0.00 from holding Hansol Chemica or generate 0.0% return on investment in Hansol Chemica over 690 days. Hansol Chemica is related to or competes with Hankook Furniture, Korean Air, Jeju Air, Daiyang Metal, Cloud Air, Daejung Chemicals, and Korea Shipbuilding. More
Hansol Chemica 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 Hansol Chemica'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 Hansol Chemica upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 14.74 | |||
| Value At Risk | (4.10) | |||
| Potential Upside | 4.64 |
Hansol Chemica Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hansol Chemica's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hansol Chemica's standard deviation. In reality, there are many statistical measures that can use Hansol Chemica historical prices to predict the future Hansol Chemica's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.48) | |||
| Total Risk Alpha | (0.99) | |||
| Treynor Ratio | 1.4 |
Hansol Chemica Backtested Returns
Hansol Chemica holds Efficiency (Sharpe) Ratio of -0.13, which attests that the entity had a -0.13% return per unit of risk over the last 3 months. Hansol Chemica exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hansol Chemica's Standard Deviation of 2.92, market risk adjusted performance of 1.41, and Risk Adjusted Performance of (0.12) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.38, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hansol Chemica are expected to decrease at a much lower rate. During the bear market, Hansol Chemica is likely to outperform the market. At this point, Hansol Chemica has a negative expected return of -0.38%. Please make sure to check out Hansol Chemica's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Hansol Chemica performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.51 |
Modest predictability
Hansol Chemica has modest predictability. Overlapping area represents the amount of predictability between Hansol Chemica time series from 21st of January 2023 to 1st of January 2024 and 1st of January 2024 to 11th 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 Hansol Chemica price movement. The serial correlation of 0.51 indicates that about 51.0% of current Hansol Chemica price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 1.1 B |
Hansol Chemica lagged returns against current returns
Autocorrelation, which is Hansol Chemica 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 Hansol Chemica's stock expected returns. We can calculate the autocorrelation of Hansol Chemica returns to help us make a trade decision. For example, suppose you find that Hansol Chemica 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 |
Hansol Chemica 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 Hansol Chemica stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hansol Chemica stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hansol Chemica stock over time.
Current vs Lagged Prices |
| Timeline |
Hansol Chemica Lagged Returns
When evaluating Hansol Chemica's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hansol Chemica stock have on its future price. Hansol Chemica 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, Hansol Chemica autocorrelation shows the relationship between Hansol Chemica stock current value and its past values and can show if there is a momentum factor associated with investing in Hansol Chemica.
Regressed Prices |
| Timeline |
Pair Trading with Hansol Chemica
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 Hansol Chemica 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 Hansol Chemica will appreciate offsetting losses from the drop in the long position's value.Moving together with Hansol Stock
| 0.89 | 051910 | LG Chemicals | PairCorr |
| 0.89 | 005490 | POSCO Holdings | PairCorr |
| 0.89 | 009830 | Hanwha Solutions | PairCorr |
| 0.85 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.9 | 004020 | Hyundai Steel | PairCorr |
Moving against Hansol Stock
The ability to find closely correlated positions to Hansol Chemica could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hansol Chemica 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 Hansol Chemica - 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 Hansol Chemica to buy it.
The correlation of Hansol Chemica 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 Hansol Chemica moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hansol Chemica 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 Hansol Chemica 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 Hansol Stock
Hansol Chemica financial ratios help investors to determine whether Hansol 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 Hansol with respect to the benefits of owning Hansol Chemica security.