Honest Good Will from 2010 to 2024
| HNST Stock | USD 2.66 0.05 1.85% |
Good Will | First Reported 2010-12-31 | Previous Quarter 2 M | Current Value 1.8 M | Quarterly Volatility 125 K |
Check Honest financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Honest's main balance sheet or income statement drivers, such as Tax Provision of 100.3 K, Depreciation And Amortization of 3.5 M or Interest Expense of 255.6 K, as well as many indicators such as Price To Sales Ratio of 0.86, Dividend Yield of 0.0486 or PTB Ratio of 2.66. Honest financial statements analysis is a perfect complement when working with Honest Valuation or Volatility modules.
Honest | Good Will |
Pair Trading with Honest
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 Honest 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 Honest will appreciate offsetting losses from the drop in the long position's value.Moving together with Honest Stock
| 0.69 | EL | Estee Lauder Companies Fiscal Year End 16th of August 2024 | PairCorr |
Moving against Honest Stock
| 0.68 | YSG | Yatsen Holding | PairCorr |
| 0.62 | UG | United Guardian | PairCorr |
| 0.49 | KMB | Kimberly Clark Financial Report 23rd of July 2024 | PairCorr |
| 0.48 | CL | Colgate Palmolive Earnings Call Tomorrow | PairCorr |
| 0.48 | UL | Unilever PLC ADR | PairCorr |
The ability to find closely correlated positions to Honest could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Honest 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 Honest - 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 Honest Company to buy it.
The correlation of Honest 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 Honest moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Honest Company 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 Honest 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 Honest Stock Analysis
When running Honest's price analysis, check to measure Honest'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 Honest is operating at the current time. Most of Honest's value examination focuses on studying past and present price action to predict the probability of Honest's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Honest's price. Additionally, you may evaluate how the addition of Honest to your portfolios can decrease your overall portfolio volatility.