SK Hynix (Korea) Market Value
| 000660 Stock | 176,700 7,900 4.68% |
| Symbol | 000660 |
SK Hynix '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 SK Hynix'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 SK Hynix.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in SK Hynix on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding SK Hynix or generate 0.0% return on investment in SK Hynix over 30 days. SK Hynix is related to or competes with Kaonmedia, Jin Air, Daewon Media, SM Entertainment, Nasmedia, and Next Entertainment. More
SK Hynix 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 SK Hynix'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 SK Hynix upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 14.98 | |||
| Value At Risk | (5.35) | |||
| Potential Upside | 6.48 |
SK Hynix Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SK Hynix's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SK Hynix's standard deviation. In reality, there are many statistical measures that can use SK Hynix historical prices to predict the future SK Hynix's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.52) | |||
| Treynor Ratio | 1.07 |
SK Hynix Backtested Returns
At this point, SK Hynix is very steady. SK Hynix retains Efficiency (Sharpe Ratio) of 0.0107, which indicates the firm had a 0.0107% return per unit of price deviation over the last 3 months. We have found twenty-three technical indicators for SK Hynix, which you can use to evaluate the volatility of the company. Please validate SK Hynix's Standard Deviation of 3.58, mean deviation of 2.92, and insignificant Risk Adjusted Performance to confirm if the risk estimate we provide is consistent with the expected return of 0.0387%. The entity owns a Beta (Systematic Risk) of -0.054, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SK Hynix are expected to decrease at a much lower rate. During the bear market, SK Hynix is likely to outperform the market. SK Hynix today owns a risk of 3.6%. Please validate SK Hynix coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if SK Hynix will be following its current price history.
Auto-correlation | 0.48 |
Average predictability
SK Hynix has average predictability. Overlapping area represents the amount of predictability between SK Hynix time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 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 SK Hynix price movement. The serial correlation of 0.48 indicates that about 48.0% of current SK Hynix price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 108.4 M |
SK Hynix lagged returns against current returns
Autocorrelation, which is SK Hynix 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 SK Hynix's stock expected returns. We can calculate the autocorrelation of SK Hynix returns to help us make a trade decision. For example, suppose you find that SK Hynix 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 |
SK Hynix 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 SK Hynix stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SK Hynix stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SK Hynix stock over time.
Current vs Lagged Prices |
| Timeline |
SK Hynix Lagged Returns
When evaluating SK Hynix's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SK Hynix stock have on its future price. SK Hynix 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, SK Hynix autocorrelation shows the relationship between SK Hynix stock current value and its past values and can show if there is a momentum factor associated with investing in SK Hynix.
Regressed Prices |
| Timeline |
Pair Trading with SK Hynix
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 SK Hynix 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 SK Hynix will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to SK Hynix could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SK Hynix 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 SK Hynix - 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 SK Hynix to buy it.
The correlation of SK Hynix 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 SK Hynix moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SK Hynix 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 SK Hynix 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 000660 Stock
SK Hynix financial ratios help investors to determine whether 000660 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 000660 with respect to the benefits of owning SK Hynix security.