Hammond Manufacturing Stock Market Value
| HMM-A Stock | CAD 10.45 0.46 4.60% |
| Symbol | Hammond |
Hammond Manufacturing Price To Book Ratio
Hammond Manufacturing '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 Hammond Manufacturing'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 Hammond Manufacturing.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Hammond Manufacturing on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Hammond Manufacturing or generate 0.0% return on investment in Hammond Manufacturing over 720 days. Hammond Manufacturing is related to or competes with Hammond Power, ADF, Goodfellow, Melcor Developments, and Caldwell Partners. Hammond Manufacturing Company Limited, together with its subsidiaries, designs, manufactures, and sells electrical and e... More
Hammond Manufacturing 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 Hammond Manufacturing'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 Hammond Manufacturing upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.99 | |||
| Information Ratio | 0.0468 | |||
| Maximum Drawdown | 9.97 | |||
| Value At Risk | (3.11) | |||
| Potential Upside | 4.6 |
Hammond Manufacturing Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hammond Manufacturing's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hammond Manufacturing's standard deviation. In reality, there are many statistical measures that can use Hammond Manufacturing historical prices to predict the future Hammond Manufacturing's volatility.| Risk Adjusted Performance | 0.0917 | |||
| Jensen Alpha | 0.1799 | |||
| Total Risk Alpha | (0.13) | |||
| Sortino Ratio | 0.0498 | |||
| Treynor Ratio | 0.6154 |
Hammond Manufacturing Backtested Returns
Currently, Hammond Manufacturing is not too volatile. Hammond Manufacturing holds Efficiency (Sharpe) Ratio of 0.0859, which attests that the entity had a 0.0859% return per unit of risk over the last 3 months. We have found thirty technical indicators for Hammond Manufacturing, which you can use to evaluate the volatility of the firm. Please check out Hammond Manufacturing's Risk Adjusted Performance of 0.0917, downside deviation of 1.99, and Market Risk Adjusted Performance of 0.6254 to validate if the risk estimate we provide is consistent with the expected return of 0.18%. Hammond Manufacturing has a performance score of 6 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.37, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Hammond Manufacturing's returns are expected to increase less than the market. However, during the bear market, the loss of holding Hammond Manufacturing is expected to be smaller as well. Hammond Manufacturing right now retains a risk of 2.13%. Please check out Hammond Manufacturing total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to decide if Hammond Manufacturing will be following its current trending patterns.
Auto-correlation | -0.22 |
Weak reverse predictability
Hammond Manufacturing has weak reverse predictability. Overlapping area represents the amount of predictability between Hammond Manufacturing time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 Hammond Manufacturing price movement. The serial correlation of -0.22 indicates that over 22.0% of current Hammond Manufacturing price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.11 | |
| Residual Average | 0.0 | |
| Price Variance | 1.56 |
Hammond Manufacturing lagged returns against current returns
Autocorrelation, which is Hammond Manufacturing 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 Hammond Manufacturing's stock expected returns. We can calculate the autocorrelation of Hammond Manufacturing returns to help us make a trade decision. For example, suppose you find that Hammond Manufacturing 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 |
Hammond Manufacturing 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 Hammond Manufacturing stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hammond Manufacturing stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hammond Manufacturing stock over time.
Current vs Lagged Prices |
| Timeline |
Hammond Manufacturing Lagged Returns
When evaluating Hammond Manufacturing's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hammond Manufacturing stock have on its future price. Hammond Manufacturing 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, Hammond Manufacturing autocorrelation shows the relationship between Hammond Manufacturing stock current value and its past values and can show if there is a momentum factor associated with investing in Hammond Manufacturing.
Regressed Prices |
| Timeline |
Pair Trading with Hammond Manufacturing
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 Hammond Manufacturing 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 Hammond Manufacturing will appreciate offsetting losses from the drop in the long position's value.Moving together with Hammond Stock
Moving against Hammond Stock
The ability to find closely correlated positions to Hammond Manufacturing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hammond Manufacturing 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 Hammond Manufacturing - 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 Hammond Manufacturing to buy it.
The correlation of Hammond Manufacturing 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 Hammond Manufacturing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hammond Manufacturing 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 Hammond Manufacturing 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 Hammond Stock Analysis
When running Hammond Manufacturing's price analysis, check to measure Hammond Manufacturing'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 Hammond Manufacturing is operating at the current time. Most of Hammond Manufacturing's value examination focuses on studying past and present price action to predict the probability of Hammond Manufacturing's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hammond Manufacturing's price. Additionally, you may evaluate how the addition of Hammond Manufacturing to your portfolios can decrease your overall portfolio volatility.