Hi Tech (India) Market Value
| HITECH Stock | 164.35 7.24 4.22% |
| Symbol | HITECH |
Hi Tech '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 Hi Tech'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 Hi Tech.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Hi Tech on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Hi Tech Pipes Limited or generate 0.0% return on investment in Hi Tech over 30 days. Hi Tech is related to or competes with NMDC, Embassy Office, Gujarat Narmada, Gujarat Alkalies, and India Glycols. Hi Tech is entity of India. It is traded as Stock on NSE exchange. More
Hi Tech 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 Hi Tech'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 Hi Tech Pipes Limited upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 11.04 | |||
| Value At Risk | (3.71) | |||
| Potential Upside | 3.88 |
Hi Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hi Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hi Tech's standard deviation. In reality, there are many statistical measures that can use Hi Tech historical prices to predict the future Hi Tech's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.58) | |||
| Treynor Ratio | 0.6105 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hi Tech's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Hi Tech Pipes Backtested Returns
Hi Tech Pipes retains Efficiency (Sharpe Ratio) of -0.0989, which attests that the entity had a -0.0989% return per unit of price deviation over the last 3 months. Hi Tech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hi Tech's Information Ratio of (0.14), market risk adjusted performance of 0.6205, and Coefficient Of Variation of (1,187) to validate the risk estimate we provide. The company owns a Beta (Systematic Risk) of -0.33, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hi Tech are expected to decrease at a much lower rate. During the bear market, Hi Tech is likely to outperform the market. At this point, Hi Tech Pipes has a negative expected return of -0.22%. Please make sure to check out Hi Tech's potential upside, day median price, and the relationship between the treynor ratio and accumulation distribution , to decide if Hi Tech Pipes performance from the past will be repeated in the future.
Auto-correlation | -0.36 |
Poor reverse predictability
Hi Tech Pipes Limited has poor reverse predictability. Overlapping area represents the amount of predictability between Hi Tech time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Hi Tech Pipes price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Hi Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | 0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 11.18 |
Hi Tech Pipes lagged returns against current returns
Autocorrelation, which is Hi Tech 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 Hi Tech's stock expected returns. We can calculate the autocorrelation of Hi Tech returns to help us make a trade decision. For example, suppose you find that Hi Tech 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 |
Hi Tech 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 Hi Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hi Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hi Tech stock over time.
Current vs Lagged Prices |
| Timeline |
Hi Tech Lagged Returns
When evaluating Hi Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hi Tech stock have on its future price. Hi Tech 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, Hi Tech autocorrelation shows the relationship between Hi Tech stock current value and its past values and can show if there is a momentum factor associated with investing in Hi Tech Pipes 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 HITECH Stock
Hi Tech financial ratios help investors to determine whether HITECH 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 HITECH with respect to the benefits of owning Hi Tech security.