Hovnanian Enterprises Pfd Preferred Stock Market Value
| HOVNP Preferred Stock | USD 18.07 0.09 0.50% |
| Symbol | Hovnanian |
Hovnanian Enterprises' Earnings Breakdown by Geography
Hovnanian Enterprises '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 Hovnanian Enterprises' preferred 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 Hovnanian Enterprises.
| 11/05/2023 |
| 09/30/2024 |
If you would invest 0.00 in Hovnanian Enterprises on November 5, 2023 and sell it all today you would earn a total of 0.00 from holding Hovnanian Enterprises PFD or generate 0.0% return on investment in Hovnanian Enterprises over 330 days. Hovnanian Enterprises is related to or competes with Beazer Homes, KB Home, MI Homes, Taylor Morn, Lennar, Hovnanian Enterprises, and Century Communities. Hovnanian Enterprises, Inc. designs, constructs, markets, and sells residential homes in the United States More
Hovnanian Enterprises 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 Hovnanian Enterprises' preferred 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 Hovnanian Enterprises PFD upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4984 | |||
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 3.04 | |||
| Value At Risk | (0.61) | |||
| Potential Upside | 1.22 |
Hovnanian Enterprises Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hovnanian Enterprises' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hovnanian Enterprises' standard deviation. In reality, there are many statistical measures that can use Hovnanian Enterprises historical prices to predict the future Hovnanian Enterprises' volatility.| Risk Adjusted Performance | 0.062 | |||
| Jensen Alpha | 0.0122 | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.16) | |||
| Treynor Ratio | 0.181 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Hovnanian Enterprises' 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.
Hovnanian Enterprises PFD Backtested Returns
Currently, Hovnanian Enterprises PFD is very steady. Hovnanian Enterprises PFD holds Efficiency (Sharpe) Ratio of 0.0255, which attests that the entity had a 0.0255% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Hovnanian Enterprises PFD, which you can use to evaluate the volatility of the firm. Please check out Hovnanian Enterprises' Market Risk Adjusted Performance of 0.191, downside deviation of 0.4984, and Risk Adjusted Performance of 0.062 to validate if the risk estimate we provide is consistent with the expected return of 0.0116%. Hovnanian Enterprises has a performance score of 2 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.18, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Hovnanian Enterprises' returns are expected to increase less than the market. However, during the bear market, the loss of holding Hovnanian Enterprises is expected to be smaller as well. Hovnanian Enterprises PFD right now retains a risk of 0.45%. Please check out Hovnanian Enterprises potential upside, as well as the relationship between the kurtosis and day typical price , to decide if Hovnanian Enterprises will be following its current trending patterns.
Auto-correlation | 0.51 |
Modest predictability
Hovnanian Enterprises PFD has modest predictability. Overlapping area represents the amount of predictability between Hovnanian Enterprises time series from 5th of November 2023 to 18th of April 2024 and 18th of April 2024 to 30th of September 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 Hovnanian Enterprises PFD price movement. The serial correlation of 0.51 indicates that about 51.0% of current Hovnanian Enterprises price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.47 | |
| Residual Average | 0.0 | |
| Price Variance | 0.04 |
Hovnanian Enterprises PFD lagged returns against current returns
Autocorrelation, which is Hovnanian Enterprises preferred 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 Hovnanian Enterprises' preferred stock expected returns. We can calculate the autocorrelation of Hovnanian Enterprises returns to help us make a trade decision. For example, suppose you find that Hovnanian Enterprises has exhibited high autocorrelation historically, and you observe that the preferred 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 |
Hovnanian Enterprises 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 Hovnanian Enterprises preferred stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hovnanian Enterprises preferred stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hovnanian Enterprises preferred stock over time.
Current vs Lagged Prices |
| Timeline |
Hovnanian Enterprises Lagged Returns
When evaluating Hovnanian Enterprises' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hovnanian Enterprises preferred stock have on its future price. Hovnanian Enterprises 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, Hovnanian Enterprises autocorrelation shows the relationship between Hovnanian Enterprises preferred stock current value and its past values and can show if there is a momentum factor associated with investing in Hovnanian Enterprises PFD.
Regressed Prices |
| Timeline |
Pair Trading with Hovnanian Enterprises
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 Hovnanian Enterprises 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 Hovnanian Enterprises will appreciate offsetting losses from the drop in the long position's value.Moving together with Hovnanian Preferred Stock
Moving against Hovnanian Preferred Stock
| 0.61 | TFRFF | Tefron | PairCorr |
| 0.52 | EBET | Ebet Inc | PairCorr |
| 0.42 | WBUY | WEBUY GLOBAL LTD | PairCorr |
| 0.36 | EVKG | Ever Glory Internati | PairCorr |
| 0.35 | WINR | Simplicity Esports and | PairCorr |
The ability to find closely correlated positions to Hovnanian Enterprises could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hovnanian Enterprises 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 Hovnanian Enterprises - 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 Hovnanian Enterprises PFD to buy it.
The correlation of Hovnanian Enterprises 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 Hovnanian Enterprises moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hovnanian Enterprises PFD 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 Hovnanian Enterprises 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 Hovnanian Preferred Stock Analysis
When running Hovnanian Enterprises' price analysis, check to measure Hovnanian Enterprises' 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 Hovnanian Enterprises is operating at the current time. Most of Hovnanian Enterprises' value examination focuses on studying past and present price action to predict the probability of Hovnanian Enterprises' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Hovnanian Enterprises' price. Additionally, you may evaluate how the addition of Hovnanian Enterprises to your portfolios can decrease your overall portfolio volatility.