Kumho Ind (Korea) Market Value
| 002990 Stock | 2,910 5.00 0.17% |
| Symbol | Kumho |
Kumho Ind '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 Kumho Ind'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 Kumho Ind.
| 09/02/2024 |
| 12/01/2024 |
If you would invest 0.00 in Kumho Ind on September 2, 2024 and sell it all today you would earn a total of 0.00 from holding Kumho Ind or generate 0.0% return on investment in Kumho Ind over 90 days. Kumho Ind is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. More
Kumho Ind 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 Kumho Ind'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 Kumho Ind upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 15.24 | |||
| Value At Risk | (2.63) | |||
| Potential Upside | 3.24 |
Kumho Ind Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kumho Ind's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kumho Ind's standard deviation. In reality, there are many statistical measures that can use Kumho Ind historical prices to predict the future Kumho Ind's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.35) | |||
| Total Risk Alpha | (0.65) | |||
| Treynor Ratio | (0.92) |
Kumho Ind Backtested Returns
Kumho Ind has Sharpe Ratio of -0.13, which conveys that the firm had a -0.13% return per unit of risk over the last 3 months. Kumho Ind exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kumho Ind's Mean Deviation of 1.17, risk adjusted performance of (0.10), and Standard Deviation of 2.07 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.33, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kumho Ind's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kumho Ind is expected to be smaller as well. At this point, Kumho Ind has a negative expected return of -0.28%. Please make sure to verify Kumho Ind's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Kumho Ind performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.57 |
Modest predictability
Kumho Ind has modest predictability. Overlapping area represents the amount of predictability between Kumho Ind time series from 2nd of September 2024 to 17th of October 2024 and 17th of October 2024 to 1st of December 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 Kumho Ind price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Kumho Ind price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.46 | |
| Residual Average | 0.0 | |
| Price Variance | 10.7 K |
Kumho Ind lagged returns against current returns
Autocorrelation, which is Kumho Ind 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 Kumho Ind's stock expected returns. We can calculate the autocorrelation of Kumho Ind returns to help us make a trade decision. For example, suppose you find that Kumho Ind 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 |
Kumho Ind 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 Kumho Ind stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kumho Ind stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kumho Ind stock over time.
Current vs Lagged Prices |
| Timeline |
Kumho Ind Lagged Returns
When evaluating Kumho Ind's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kumho Ind stock have on its future price. Kumho Ind 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, Kumho Ind autocorrelation shows the relationship between Kumho Ind stock current value and its past values and can show if there is a momentum factor associated with investing in Kumho Ind.
Regressed Prices |
| Timeline |
Pair Trading with Kumho Ind
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 Kumho Ind 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 Kumho Ind will appreciate offsetting losses from the drop in the long position's value.Moving together with Kumho Stock
Moving against Kumho Stock
| 0.63 | 024110 | Industrial Bank | PairCorr |
| 0.63 | 032830 | Samsung Life | PairCorr |
| 0.62 | 105560 | KB Financial Group | PairCorr |
| 0.31 | 316140 | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to Kumho Ind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kumho Ind 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 Kumho Ind - 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 Kumho Ind to buy it.
The correlation of Kumho Ind 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 Kumho Ind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kumho Ind 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 Kumho Ind 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 Kumho Stock
Kumho Ind financial ratios help investors to determine whether Kumho 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 Kumho with respect to the benefits of owning Kumho Ind security.