Hites SA (Chile) Market Value
| HITES Stock | CLP 68.08 0.16 0.23% |
| Symbol | Hites |
Hites SA '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 Hites SA'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 Hites SA.
| 12/18/2023 |
| 12/12/2024 |
If you would invest 0.00 in Hites SA on December 18, 2023 and sell it all today you would earn a total of 0.00 from holding Hites SA or generate 0.0% return on investment in Hites SA over 360 days. Hites SA is related to or competes with Ripley Corp, Cencosud, Parq Arauco, Empresa Nacional, and CAP SA. Empresas Hites S.A. engages in the retail business in Chile More
Hites SA 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 Hites SA'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 Hites SA upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 16.33 | |||
| Value At Risk | (3.71) | |||
| Potential Upside | 0.2865 |
Hites SA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hites SA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hites SA's standard deviation. In reality, there are many statistical measures that can use Hites SA historical prices to predict the future Hites SA's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.46) | |||
| Total Risk Alpha | (0.94) | |||
| Treynor Ratio | 0.9467 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hites SA'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.
Hites SA Backtested Returns
Hites SA holds Efficiency (Sharpe) Ratio of -0.22, which attests that the entity had a -0.22% return per unit of risk over the last 3 months. Hites SA exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hites SA's Standard Deviation of 2.64, market risk adjusted performance of 0.9567, and Risk Adjusted Performance of (0.13) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.55, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Hites SA are expected to decrease at a much lower rate. During the bear market, Hites SA is likely to outperform the market. At this point, Hites SA has a negative expected return of -0.65%. Please make sure to check out Hites SA's maximum drawdown, accumulation distribution, as well as the relationship between the Accumulation Distribution and market facilitation index , to decide if Hites SA performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.34 |
Poor reverse predictability
Hites SA has poor reverse predictability. Overlapping area represents the amount of predictability between Hites SA time series from 18th of December 2023 to 15th of June 2024 and 15th of June 2024 to 12th 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 Hites SA price movement. The serial correlation of -0.34 indicates that nearly 34.0% of current Hites SA price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.34 | |
| Spearman Rank Test | -0.26 | |
| Residual Average | 0.0 | |
| Price Variance | 134.75 |
Hites SA lagged returns against current returns
Autocorrelation, which is Hites SA 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 Hites SA's stock expected returns. We can calculate the autocorrelation of Hites SA returns to help us make a trade decision. For example, suppose you find that Hites SA 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 |
Hites SA 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 Hites SA stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hites SA stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hites SA stock over time.
Current vs Lagged Prices |
| Timeline |
Hites SA Lagged Returns
When evaluating Hites SA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hites SA stock have on its future price. Hites SA 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, Hites SA autocorrelation shows the relationship between Hites SA stock current value and its past values and can show if there is a momentum factor associated with investing in Hites SA.
Regressed Prices |
| Timeline |
Pair Trading with Hites SA
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 Hites SA 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 Hites SA will appreciate offsetting losses from the drop in the long position's value.Moving against Hites Stock
| 0.9 | ENLASA | Energia Latina SA | PairCorr |
| 0.83 | AFPCAPITAL | AFP Capital SA | PairCorr |
| 0.79 | AAISA | Administradora Americana | PairCorr |
The ability to find closely correlated positions to Hites SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hites SA 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 Hites SA - 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 Hites SA to buy it.
The correlation of Hites SA 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 Hites SA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hites SA 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 Hites SA 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.Additional Tools for Hites Stock Analysis
When running Hites SA's price analysis, check to measure Hites SA's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Hites SA is operating at the current time. Most of Hites SA's value examination focuses on studying past and present price action to predict the probability of Hites SA's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hites SA's price. Additionally, you may evaluate how the addition of Hites SA to your portfolios can decrease your overall portfolio volatility.