Highway Holdings Correlations

HIHO Stock  USD 2.27  0.00  0.00%   
The correlation of Highway Holdings is a statistical measure of how it moves in relation to other equities. 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 Limited 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.
Please check Risk vs Return Analysis.
  
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.

Moving together with Highway Holdings

+0.69ARNCArconic CorpPairCorr
+0.62CRSCarpenter TechnologyPairCorr
+0.82ESABESAB CorpPairCorr
+0.76IIINInsteel IndustriesPairCorr
+0.88MECMayville EngineeringPairCorr
+0.62WORWorthington IndustriesPairCorr
+0.74AAONAAON IncPairCorr
+0.8ABBABB Earnings Call This WeekPairCorr
+0.7ABMABM Industries IncorPairCorr

Moving against Highway Holdings

-0.56PRLBProto LabsPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
MECESAB
IIINESAB
HAYNCRS
MECIIIN
IIINARNC
ESABARNC
  
High negative correlations   
PRLBMEC
PRLBGIFI
PRLBESAB
PRLBCRS
PRLBIIIN
MECAP

Risk-Adjusted Indicators

Nowadays, there is a big difference between Highway Stock performing well and Highway Holdings company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Highway Holdings' multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean
Deviation
Jensen
Alpha
Sortino
Ratio
Treynor
Ratio
Semi
Deviation
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
AP 3.04  0.08 (0.01)  0.36  3.23 (0.0062) (3.75)  8.33 (5.37)  24.70 
ARNC 1.95 (0.12)  0.00  0.11  2.75  0.0051 (1.84)  4.71 (4.18)  12.70 
CRS 2.05  0.13  0.08  0.26  2.38  0.08 (2.17)  4.90 (3.56)  12.98 
ESAB 1.77  0.49  0.25  0.58  1.52  0.22 (2.09)  4.05 (2.43)  12.19 
GIFI 1.97  0.24  0.05  0.81  2.30  0.047 (2.29)  5.64 (4.65)  13.91 
HAYN 2.25  0.12  0.07  0.25  2.95  0.08 (2.20)  4.02 (5.51)  14.97 
IIIN 2.17  0.11  0.05  0.26  3.11  0.06 (2.19)  4.00 (4.11)  21.60 
MEC 3.74  1.36  0.33  3.90  2.99  0.26 (4.41)  11.00 (4.38)  22.87 
PRLB 2.85 (0.53)  0.00 (0.30)  0.00 (0.11)  0.00  4.71 (5.23)  33.82 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Highway Holdings without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Highway Holdings Corporate Directors

Highway Holdings corporate directors refer to members of a Highway Holdings board of directors. The board of directors generally takes responsibility for the Highway Holdings' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Highway Holdings' board members must vote for the resolution. The Highway Holdings board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Uri Oppenheimer - Non-Executive Independent DirectorProfile
Wing Leung - Non-Executive Independent DirectorProfile
Ping Wong - Non-Executive Independent DirectorProfile
Shlomo Tamir - Non-Executive Independent DirectorProfile

Invested in Highway Holdings Limited?

The danger of trading Highway Holdings Limited is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Highway Holdings is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Highway Holdings. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Highway Holdings is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Risk vs Return Analysis. Note that the Highway Holdings information on this page should be used as a complementary analysis to other Highway Holdings' statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Share Portfolio module to track or share privately all of your investments from the convenience of any device.

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When running Highway Holdings price analysis, check to measure Highway Holdings' 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 Highway Holdings is operating at the current time. Most of Highway Holdings' value examination focuses on studying past and present price action to predict the probability of Highway Holdings' future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move Highway Holdings' price. Additionally, you may evaluate how the addition of Highway Holdings to your portfolios can decrease your overall portfolio volatility.
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Is Highway Holdings' industry 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.
Quarterly Earnings Growth
0.621
Market Capitalization
9.4 M
Quarterly Revenue Growth
(0.1) 
Return On Assets
0.032
Return On Equity
0.0673
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 Highway Holdings value 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.