Highway Holdings Limited Stock Market Value
| HIHO Stock | USD 1.98 0.07 3.66% |
| Symbol | Highway |
Highway Holdings Price To Book Ratio
Is Industrial Machinery & Supplies & Components space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Highway Holdings. If investors know Highway will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Highway Holdings listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Dividend Share 0.07 | Earnings Share (0.11) | Revenue Per Share 1.742 | Quarterly Revenue Growth 0.601 | Return On Assets (0.02) |
The market value of Highway Holdings is measured differently than its book value, which is the value of Highway that is recorded on the company's balance sheet. Investors also form their own opinion of Highway Holdings' value that differs from its market value or its book value, called intrinsic value, which is Highway Holdings' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Highway Holdings' market value can be influenced by many factors that don't directly affect Highway Holdings' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Highway Holdings' value and its price as these two are different measures arrived at by different means. Investors typically determine if Highway Holdings is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Highway Holdings' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Highway Holdings '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 Highway Holdings' 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 Highway Holdings.
| 09/01/2024 |
| 11/30/2024 |
If you would invest 0.00 in Highway Holdings on September 1, 2024 and sell it all today you would earn a total of 0.00 from holding Highway Holdings Limited or generate 0.0% return on investment in Highway Holdings over 90 days. Highway Holdings is related to or competes with Deswell Industries, Euro Tech, China Natural, and Arts Way. Highway Holdings Limited, together with its subsidiaries, manufactures and supplies metal, plastic, electric, and electr... More
Highway Holdings 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 Highway Holdings' 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 Highway Holdings Limited upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.65 | |||
| Information Ratio | 0.0193 | |||
| Maximum Drawdown | 41.88 | |||
| Value At Risk | (2.70) | |||
| Potential Upside | 3.37 |
Highway Holdings Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highway Holdings' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highway Holdings' standard deviation. In reality, there are many statistical measures that can use Highway Holdings historical prices to predict the future Highway Holdings' volatility.| Risk Adjusted Performance | 0.0469 | |||
| Jensen Alpha | 0.1713 | |||
| Total Risk Alpha | (0.52) | |||
| Sortino Ratio | 0.0232 | |||
| Treynor Ratio | 0.6576 |
Highway Holdings Backtested Returns
Highway Holdings appears to be dangerous, given 3 months investment horizon. Highway Holdings holds Efficiency (Sharpe) Ratio of 0.0517, which attests that the entity had a 0.0517% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Highway Holdings, which you can use to evaluate the volatility of the firm. Please utilize Highway Holdings' Risk Adjusted Performance of 0.0469, market risk adjusted performance of 0.6676, and Downside Deviation of 3.65 to validate if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Highway Holdings holds a performance score of 4. The company retains a Market Volatility (i.e., Beta) of 0.32, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Highway Holdings' returns are expected to increase less than the market. However, during the bear market, the loss of holding Highway Holdings is expected to be smaller as well. Please check Highway Holdings' potential upside, and the relationship between the total risk alpha and kurtosis , to make a quick decision on whether Highway Holdings' current trending patterns will revert.
Auto-correlation | -0.37 |
Poor reverse predictability
Highway Holdings Limited has poor reverse predictability. Overlapping area represents the amount of predictability between Highway Holdings time series from 1st of September 2024 to 16th of October 2024 and 16th of October 2024 to 30th of November 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 Highway Holdings price movement. The serial correlation of -0.37 indicates that just about 37.0% of current Highway Holdings price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.37 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Highway Holdings lagged returns against current returns
Autocorrelation, which is Highway Holdings 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 Highway Holdings' stock expected returns. We can calculate the autocorrelation of Highway Holdings returns to help us make a trade decision. For example, suppose you find that Highway Holdings 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 |
Highway Holdings 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 Highway Holdings stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highway Holdings stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highway Holdings stock over time.
Current vs Lagged Prices |
| Timeline |
Highway Holdings Lagged Returns
When evaluating Highway Holdings' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highway Holdings stock have on its future price. Highway Holdings 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, Highway Holdings autocorrelation shows the relationship between Highway Holdings stock current value and its past values and can show if there is a momentum factor associated with investing in Highway Holdings Limited.
Regressed Prices |
| Timeline |
Pair Trading with Highway Holdings
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 Highway Holdings 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 Highway Holdings will appreciate offsetting losses from the drop in the long position's value.Moving against Highway Stock
The ability to find closely correlated positions to Highway Holdings could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Highway Holdings 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 Highway Holdings - 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 Highway Holdings Limited to buy it.
The correlation of Highway Holdings 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 Highway Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highway Holdings 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 Highway Holdings 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.Check out Highway Holdings Correlation, Highway Holdings Volatility and Highway Holdings Alpha and Beta module to complement your research on Highway Holdings. You can also try the Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Highway Holdings technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.