Hyundai Hcn (Korea) Market Value
| 126560 Stock | 3,570 60.00 1.65% |
| Symbol | Hyundai |
Hyundai Hcn '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 Hyundai Hcn'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 Hyundai Hcn.
| 12/21/2024 |
| 01/20/2025 |
If you would invest 0.00 in Hyundai Hcn on December 21, 2024 and sell it all today you would earn a total of 0.00 from holding Hyundai Hcn or generate 0.0% return on investment in Hyundai Hcn over 30 days.
Hyundai Hcn 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 Hyundai Hcn'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 Hyundai Hcn upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 17.5 | |||
| Value At Risk | (4.97) | |||
| Potential Upside | 4.9 |
Hyundai Hcn Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyundai Hcn's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyundai Hcn's standard deviation. In reality, there are many statistical measures that can use Hyundai Hcn historical prices to predict the future Hyundai Hcn's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.1) | |||
| Treynor Ratio | 0.6417 |
Hyundai Hcn Backtested Returns
Hyundai Hcn holds Efficiency (Sharpe) Ratio of close to zero, which attests that the entity had a close to zero % return per unit of risk over the last 3 months. Hyundai Hcn exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hyundai Hcn's Market Risk Adjusted Performance of 0.6517, standard deviation of 2.7, and insignificant Risk Adjusted Performance to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0555, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hyundai Hcn are expected to decrease at a much lower rate. During the bear market, Hyundai Hcn is likely to outperform the market. At this point, Hyundai Hcn has a negative expected return of -0.0256%. Please make sure to check out Hyundai Hcn's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Hyundai Hcn performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.40 |
Average predictability
Hyundai Hcn has average predictability. Overlapping area represents the amount of predictability between Hyundai Hcn time series from 21st of December 2024 to 5th of January 2025 and 5th of January 2025 to 20th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Hyundai Hcn price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Hyundai Hcn price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | 0.52 | |
| Residual Average | 0.0 | |
| Price Variance | 4533.98 |
Hyundai Hcn lagged returns against current returns
Autocorrelation, which is Hyundai Hcn 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 Hyundai Hcn's stock expected returns. We can calculate the autocorrelation of Hyundai Hcn returns to help us make a trade decision. For example, suppose you find that Hyundai Hcn 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 |
Hyundai Hcn 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 Hyundai Hcn stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyundai Hcn stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyundai Hcn stock over time.
Current vs Lagged Prices |
| Timeline |
Hyundai Hcn Lagged Returns
When evaluating Hyundai Hcn's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyundai Hcn stock have on its future price. Hyundai Hcn 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, Hyundai Hcn autocorrelation shows the relationship between Hyundai Hcn stock current value and its past values and can show if there is a momentum factor associated with investing in Hyundai Hcn.
Regressed Prices |
| Timeline |
Pair Trading with Hyundai Hcn
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 Hyundai Hcn 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 Hyundai Hcn will appreciate offsetting losses from the drop in the long position's value.Moving against Hyundai Stock
| 0.56 | 000660 | SK Hynix Earnings Call This Week | PairCorr |
| 0.37 | 005387 | Hyundai Motor Earnings Call This Week | PairCorr |
| 0.36 | 207940 | Samsung Biologics Earnings Call This Week | PairCorr |
| 0.31 | 005385 | Hyundai Motor Earnings Call This Week | PairCorr |
The ability to find closely correlated positions to Hyundai Hcn could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hyundai Hcn 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 Hyundai Hcn - 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 Hyundai Hcn to buy it.
The correlation of Hyundai Hcn 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 Hyundai Hcn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyundai Hcn 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 Hyundai Hcn 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.