Song Hong (Vietnam) Market Value
| NSH Stock | 4,600 100.00 2.22% |
| Symbol | Song |
Song Hong '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 Song Hong'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 Song Hong.
| 05/23/2023 |
| 12/13/2024 |
If you would invest 0.00 in Song Hong on May 23, 2023 and sell it all today you would earn a total of 0.00 from holding Song Hong Aluminum or generate 0.0% return on investment in Song Hong over 570 days. Song Hong is related to or competes with FIT INVEST, Damsan JSC, An Phat, Alphanam, APG Securities, Binhthuan Agriculture, and Mekong Fisheries. More
Song Hong 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 Song Hong'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 Song Hong Aluminum upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 12.04 | |||
| Value At Risk | (4.08) | |||
| Potential Upside | 2.27 |
Song Hong Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Song Hong's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Song Hong's standard deviation. In reality, there are many statistical measures that can use Song Hong historical prices to predict the future Song Hong's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.22) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | (0.88) |
Song Hong Aluminum Backtested Returns
Song Hong Aluminum owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0725, which indicates the firm had a -0.0725% return per unit of risk over the last 3 months. Song Hong Aluminum exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Song Hong's Coefficient Of Variation of (1,226), risk adjusted performance of (0.05), and Variance of 5.33 to confirm the risk estimate we provide. The entity has a beta of 0.23, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Song Hong's returns are expected to increase less than the market. However, during the bear market, the loss of holding Song Hong is expected to be smaller as well. At this point, Song Hong Aluminum has a negative expected return of -0.17%. Please make sure to validate Song Hong's potential upside, as well as the relationship between the daily balance of power and market facilitation index , to decide if Song Hong Aluminum performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.55 |
Modest predictability
Song Hong Aluminum has modest predictability. Overlapping area represents the amount of predictability between Song Hong time series from 23rd of May 2023 to 3rd of March 2024 and 3rd of March 2024 to 13th 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 Song Hong Aluminum price movement. The serial correlation of 0.55 indicates that about 55.0% of current Song Hong price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.55 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 316.8 K |
Song Hong Aluminum lagged returns against current returns
Autocorrelation, which is Song Hong 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 Song Hong's stock expected returns. We can calculate the autocorrelation of Song Hong returns to help us make a trade decision. For example, suppose you find that Song Hong 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 |
Song Hong 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 Song Hong stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Song Hong stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Song Hong stock over time.
Current vs Lagged Prices |
| Timeline |
Song Hong Lagged Returns
When evaluating Song Hong's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Song Hong stock have on its future price. Song Hong 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, Song Hong autocorrelation shows the relationship between Song Hong stock current value and its past values and can show if there is a momentum factor associated with investing in Song Hong Aluminum.
Regressed Prices |
| Timeline |
Pair Trading with Song Hong
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 Song Hong 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 Song Hong will appreciate offsetting losses from the drop in the long position's value.Moving together with Song Stock
| 0.8 | ADS | Damsan JSC | PairCorr |
| 0.86 | AAA | An Phat Plastic | PairCorr |
| 0.9 | AME | Alphanam ME | PairCorr |
| 0.74 | APG | APG Securities Joint | PairCorr |
The ability to find closely correlated positions to Song Hong could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Song Hong 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 Song Hong - 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 Song Hong Aluminum to buy it.
The correlation of Song Hong 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 Song Hong moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Song Hong Aluminum 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 Song Hong 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 Song Stock
Song Hong financial ratios help investors to determine whether Song 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 Song with respect to the benefits of owning Song Hong security.