Hindalco Industries (India) Market Value
| HINDALCO | 662.10 6.60 0.99% |
| Symbol | Hindalco |
Hindalco Industries '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 Hindalco Industries' 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 Hindalco Industries.
| 11/15/2024 |
| 12/15/2024 |
If you would invest 0.00 in Hindalco Industries on November 15, 2024 and sell it all today you would earn a total of 0.00 from holding Hindalco Industries Limited or generate 0.0% return on investment in Hindalco Industries over 30 days. Hindalco Industries is related to or competes with Yatharth Hospital, Lotus Eye, Global Health, Amrutanjan Health, Tamilnadu Telecommunicatio, Reliance Communications, and Apollo Hospitals. Hindalco Industries is entity of India. It is traded as Stock on NSE exchange. More
Hindalco Industries 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 Hindalco Industries' 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 Hindalco Industries Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.29 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 12.89 | |||
| Value At Risk | (2.62) | |||
| Potential Upside | 3.45 |
Hindalco Industries Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hindalco Industries' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hindalco Industries' standard deviation. In reality, there are many statistical measures that can use Hindalco Industries historical prices to predict the future Hindalco Industries' volatility.| Risk Adjusted Performance | 0.0157 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0582 |
Hindalco Industries Backtested Returns
Hindalco Industries holds Efficiency (Sharpe) Ratio of -0.0188, which attests that the entity had a -0.0188% return per unit of risk over the last 3 months. Hindalco Industries exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hindalco Industries' Downside Deviation of 2.29, risk adjusted performance of 0.0157, and Market Risk Adjusted Performance of 0.0682 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.27, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hindalco Industries' returns are expected to increase less than the market. However, during the bear market, the loss of holding Hindalco Industries is expected to be smaller as well. At this point, Hindalco Industries has a negative expected return of -0.0359%. Please make sure to check out Hindalco Industries' jensen alpha, maximum drawdown, semi variance, as well as the relationship between the sortino ratio and potential upside , to decide if Hindalco Industries performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.18 |
Very weak predictability
Hindalco Industries Limited has very weak predictability. Overlapping area represents the amount of predictability between Hindalco Industries time series from 15th of November 2024 to 30th of November 2024 and 30th of November 2024 to 15th 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 Hindalco Industries price movement. The serial correlation of 0.18 indicates that over 18.0% of current Hindalco Industries price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 11.52 |
Hindalco Industries lagged returns against current returns
Autocorrelation, which is Hindalco Industries 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 Hindalco Industries' stock expected returns. We can calculate the autocorrelation of Hindalco Industries returns to help us make a trade decision. For example, suppose you find that Hindalco Industries 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 |
Hindalco Industries 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 Hindalco Industries stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hindalco Industries stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hindalco Industries stock over time.
Current vs Lagged Prices |
| Timeline |
Hindalco Industries Lagged Returns
When evaluating Hindalco Industries' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hindalco Industries stock have on its future price. Hindalco Industries 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, Hindalco Industries autocorrelation shows the relationship between Hindalco Industries stock current value and its past values and can show if there is a momentum factor associated with investing in Hindalco Industries Limited.
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 Hindalco Stock
Hindalco Industries financial ratios help investors to determine whether Hindalco 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 Hindalco with respect to the benefits of owning Hindalco Industries security.