Hironic Co (Korea) Market Value
| 149980 Stock | KRW 6,340 50.00 0.78% |
| Symbol | Hironic |
Hironic Co '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 Hironic Co'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 Hironic Co.
| 11/23/2024 |
| 12/23/2024 |
If you would invest 0.00 in Hironic Co on November 23, 2024 and sell it all today you would earn a total of 0.00 from holding Hironic Co or generate 0.0% return on investment in Hironic Co over 30 days. Hironic Co is related to or competes with DIO, Medy Tox, and Soulbrain Holdings. More
Hironic Co 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 Hironic Co'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 Hironic Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 20.9 | |||
| Value At Risk | (5.73) | |||
| Potential Upside | 6.68 |
Hironic Co Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hironic Co's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hironic Co's standard deviation. In reality, there are many statistical measures that can use Hironic Co historical prices to predict the future Hironic Co's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.26) | |||
| Treynor Ratio | 0.5857 |
Hironic Co Backtested Returns
Hironic Co holds Efficiency (Sharpe) Ratio of -0.0271, which attests that the entity had a -0.0271% return per unit of risk over the last 3 months. Hironic Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hironic Co's Standard Deviation of 3.57, risk adjusted performance of (0.02), and Market Risk Adjusted Performance of 0.5957 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.26, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hironic Co are expected to decrease at a much lower rate. During the bear market, Hironic Co is likely to outperform the market. At this point, Hironic Co has a negative expected return of -0.0988%. Please make sure to check out Hironic Co's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Hironic Co performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.31 |
Poor reverse predictability
Hironic Co has poor reverse predictability. Overlapping area represents the amount of predictability between Hironic Co time series from 23rd of November 2024 to 8th of December 2024 and 8th of December 2024 to 23rd 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 Hironic Co price movement. The serial correlation of -0.31 indicates that nearly 31.0% of current Hironic Co price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.31 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 185.9 K |
Hironic Co lagged returns against current returns
Autocorrelation, which is Hironic Co 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 Hironic Co's stock expected returns. We can calculate the autocorrelation of Hironic Co returns to help us make a trade decision. For example, suppose you find that Hironic Co 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 |
Hironic Co 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 Hironic Co stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hironic Co stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hironic Co stock over time.
Current vs Lagged Prices |
| Timeline |
Hironic Co Lagged Returns
When evaluating Hironic Co's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hironic Co stock have on its future price. Hironic Co 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, Hironic Co autocorrelation shows the relationship between Hironic Co stock current value and its past values and can show if there is a momentum factor associated with investing in Hironic Co.
Regressed Prices |
| Timeline |
Pair Trading with Hironic Co
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 Hironic Co 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 Hironic Co will appreciate offsetting losses from the drop in the long position's value.Moving together with Hironic Stock
Moving against Hironic Stock
| 0.71 | 122870 | YG Entertainment | PairCorr |
| 0.62 | 003535 | Hanwha InvestmentSecuri | PairCorr |
| 0.53 | 041510 | SM Entertainment | PairCorr |
| 0.46 | 032640 | LG Uplus | PairCorr |
| 0.45 | 012330 | Hyundai Mobis | PairCorr |
The ability to find closely correlated positions to Hironic Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hironic Co 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 Hironic Co - 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 Hironic Co to buy it.
The correlation of Hironic Co 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 Hironic Co moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hironic Co 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 Hironic Co 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 Hironic Stock
Hironic Co financial ratios help investors to determine whether Hironic 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 Hironic with respect to the benefits of owning Hironic Co security.