Hankook Furniture (Korea) Market Value
| 004590 Stock | KRW 4,055 40.00 0.98% |
| Symbol | Hankook |
Hankook Furniture '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 Hankook Furniture'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 Hankook Furniture.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in Hankook Furniture on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding Hankook Furniture Co or generate 0.0% return on investment in Hankook Furniture over 720 days. Hankook Furniture is related to or competes with Korea Real, Busan Industrial, UNISEM, Finebesteel, Shinhan Inverse, Fine Besteel, and Hyundai Heavy. Hankook Furniture Co., Ltd. designs, manufactures and sells furniture in South Korea More
Hankook Furniture 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 Hankook Furniture'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 Hankook Furniture Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.924 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 7.18 | |||
| Value At Risk | (1.33) | |||
| Potential Upside | 1.23 |
Hankook Furniture Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hankook Furniture's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hankook Furniture's standard deviation. In reality, there are many statistical measures that can use Hankook Furniture historical prices to predict the future Hankook Furniture's volatility.| Risk Adjusted Performance | 0.0789 | |||
| Jensen Alpha | 0.1354 | |||
| Total Risk Alpha | (0.1) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.70) |
Hankook Furniture Backtested Returns
At this point, Hankook Furniture is very steady. Hankook Furniture holds Efficiency (Sharpe) Ratio of 0.14, which attests that the entity had a 0.14% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hankook Furniture, which you can use to evaluate the volatility of the firm. Please check out Hankook Furniture's Market Risk Adjusted Performance of (0.69), downside deviation of 0.924, and Risk Adjusted Performance of 0.0789 to validate if the risk estimate we provide is consistent with the expected return of 0.18%. Hankook Furniture has a performance score of 10 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of -0.16, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hankook Furniture are expected to decrease at a much lower rate. During the bear market, Hankook Furniture is likely to outperform the market. Hankook Furniture right now retains a risk of 1.31%. Please check out Hankook Furniture coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if Hankook Furniture will be following its current trending patterns.
Auto-correlation | 0.32 |
Below average predictability
Hankook Furniture Co has below average predictability. Overlapping area represents the amount of predictability between Hankook Furniture 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 Hankook Furniture price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Hankook Furniture price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 37.8 K |
Hankook Furniture lagged returns against current returns
Autocorrelation, which is Hankook Furniture 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 Hankook Furniture's stock expected returns. We can calculate the autocorrelation of Hankook Furniture returns to help us make a trade decision. For example, suppose you find that Hankook Furniture 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 |
Hankook Furniture 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 Hankook Furniture stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hankook Furniture stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hankook Furniture stock over time.
Current vs Lagged Prices |
| Timeline |
Hankook Furniture Lagged Returns
When evaluating Hankook Furniture's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hankook Furniture stock have on its future price. Hankook Furniture 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, Hankook Furniture autocorrelation shows the relationship between Hankook Furniture stock current value and its past values and can show if there is a momentum factor associated with investing in Hankook Furniture Co.
Regressed Prices |
| Timeline |
Pair Trading with Hankook Furniture
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 Hankook Furniture 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 Hankook Furniture will appreciate offsetting losses from the drop in the long position's value.Moving against Hankook Stock
| 0.39 | 066570 | LG Electronics | PairCorr |
| 0.32 | 005930 | Samsung Electronics | PairCorr |
| 0.32 | 005385 | Hyundai Motor | PairCorr |
The ability to find closely correlated positions to Hankook Furniture could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hankook Furniture 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 Hankook Furniture - 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 Hankook Furniture Co to buy it.
The correlation of Hankook Furniture 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 Hankook Furniture moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hankook Furniture 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 Hankook Furniture 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.Other Information on Investing in Hankook Stock
Hankook Furniture financial ratios help investors to determine whether Hankook 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 Hankook with respect to the benefits of owning Hankook Furniture security.