Ace Hardware (Indonesia) Market Value
| ACES Stock | IDR 885.00 25.00 2.75% |
| Symbol | Ace |
Ace Hardware '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 Ace Hardware'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 Ace Hardware.
| 04/04/2024 |
| 05/04/2024 |
If you would invest 0.00 in Ace Hardware on April 4, 2024 and sell it all today you would earn a total of 0.00 from holding Ace Hardware Indonesia or generate 0.0% return on investment in Ace Hardware over 30 days. Ace Hardware is related to or competes with Telkom Indonesia, Bank Mandiri, Bank Central, Indofood Sukses, and Unilever Indonesia. More
Ace Hardware 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 Ace Hardware'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 Ace Hardware Indonesia upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.58 | |||
| Information Ratio | 0.0607 | |||
| Maximum Drawdown | 16.73 | |||
| Value At Risk | (4.09) | |||
| Potential Upside | 3.41 |
Ace Hardware Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ace Hardware's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ace Hardware's standard deviation. In reality, there are many statistical measures that can use Ace Hardware historical prices to predict the future Ace Hardware's volatility.| Risk Adjusted Performance | 0.0606 | |||
| Jensen Alpha | 0.2184 | |||
| Total Risk Alpha | 0.0213 | |||
| Sortino Ratio | 0.0589 | |||
| Treynor Ratio | (0.42) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Ace Hardware's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Ace Hardware Indonesia Backtested Returns
Ace Hardware appears to be very steady, given 3 months investment horizon. Ace Hardware Indonesia secures Sharpe Ratio (or Efficiency) of 0.0756, which signifies that the company had a 0.0756% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for Ace Hardware Indonesia, which you can use to evaluate the volatility of the firm. Please makes use of Ace Hardware's mean deviation of 1.75, and Risk Adjusted Performance of 0.0606 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ace Hardware holds a performance score of 5. The firm shows a Beta (market volatility) of -0.47, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Ace Hardware are expected to decrease at a much lower rate. During the bear market, Ace Hardware is likely to outperform the market. Please check Ace Hardware's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Ace Hardware's price patterns will revert.
Auto-correlation | -0.36 |
Poor reverse predictability
Ace Hardware Indonesia has poor reverse predictability. Overlapping area represents the amount of predictability between Ace Hardware time series from 4th of April 2024 to 19th of April 2024 and 19th of April 2024 to 4th of May 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 Ace Hardware Indonesia price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Ace Hardware price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 655.56 |
Ace Hardware Indonesia lagged returns against current returns
Autocorrelation, which is Ace Hardware 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 Ace Hardware's stock expected returns. We can calculate the autocorrelation of Ace Hardware returns to help us make a trade decision. For example, suppose you find that Ace Hardware 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 |
Ace Hardware 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 Ace Hardware stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ace Hardware stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ace Hardware stock over time.
Current vs Lagged Prices |
| Timeline |
Ace Hardware Lagged Returns
When evaluating Ace Hardware's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ace Hardware stock have on its future price. Ace Hardware 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, Ace Hardware autocorrelation shows the relationship between Ace Hardware stock current value and its past values and can show if there is a momentum factor associated with investing in Ace Hardware Indonesia.
Regressed Prices |
| Timeline |
Pair Trading with Ace Hardware
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 Ace Hardware 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 Ace Hardware will appreciate offsetting losses from the drop in the long position's value.Moving together with Ace Stock
| 0.7 | UNTR | United Tractors Tbk | PairCorr |
Moving against Ace Stock
| 0.83 | SCCO | Supreme Cable Manufa Split | PairCorr |
| 0.6 | GGRM | Gudang Garam Tbk Earnings Call This Week | PairCorr |
| 0.46 | AMFG | Asahimas Flat Glass | PairCorr |
The ability to find closely correlated positions to Ace Hardware could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ace Hardware 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 Ace Hardware - 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 Ace Hardware Indonesia to buy it.
The correlation of Ace Hardware 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 Ace Hardware moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ace Hardware Indonesia 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 Ace Hardware 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 Ace Hardware Correlation, Ace Hardware Volatility and Ace Hardware Alpha and Beta module to complement your research on Ace Hardware. You can also try the Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Complementary Tools for Ace Stock analysis
When running Ace Hardware's price analysis, check to measure Ace Hardware'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 Ace Hardware is operating at the current time. Most of Ace Hardware's value examination focuses on studying past and present price action to predict the probability of Ace Hardware's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Ace Hardware's price. Additionally, you may evaluate how the addition of Ace Hardware to your portfolios can decrease your overall portfolio volatility.
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Ace Hardware 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.