Kolon Globalco (Korea) Market Value
| 003070 Stock | 10,150 590.00 5.49% |
| Symbol | Kolon |
Kolon Globalco '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 Kolon Globalco'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 Kolon Globalco.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Kolon Globalco on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Kolon Globalco or generate 0.0% return on investment in Kolon Globalco over 540 days. Kolon Globalco is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. More
Kolon Globalco 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 Kolon Globalco'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 Kolon Globalco upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.38 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 29.51 | |||
| Value At Risk | (5.00) | |||
| Potential Upside | 5.96 |
Kolon Globalco Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kolon Globalco's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kolon Globalco's standard deviation. In reality, there are many statistical measures that can use Kolon Globalco historical prices to predict the future Kolon Globalco's volatility.| Risk Adjusted Performance | 0.0275 | |||
| Jensen Alpha | 0.1622 | |||
| Total Risk Alpha | (0.53) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (0.16) |
Kolon Globalco Backtested Returns
At this point, Kolon Globalco is very steady. Kolon Globalco has Sharpe Ratio of 0.003, which conveys that the firm had a 0.003% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Kolon Globalco, which you can use to evaluate the volatility of the firm. Please verify Kolon Globalco's Risk Adjusted Performance of 0.0275, downside deviation of 3.38, and Mean Deviation of 2.55 to check out if the risk estimate we provide is consistent with the expected return of 0.0116%. The company secures a Beta (Market Risk) of -0.59, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Kolon Globalco are expected to decrease at a much lower rate. During the bear market, Kolon Globalco is likely to outperform the market. Kolon Globalco right now secures a risk of 3.85%. Please verify Kolon Globalco coefficient of variation, jensen alpha, and the relationship between the downside deviation and standard deviation , to decide if Kolon Globalco will be following its current price movements.
Auto-correlation | 0.04 |
Virtually no predictability
Kolon Globalco has virtually no predictability. Overlapping area represents the amount of predictability between Kolon Globalco time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 to 29th 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 Kolon Globalco price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Kolon Globalco price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 1.8 M |
Kolon Globalco lagged returns against current returns
Autocorrelation, which is Kolon Globalco 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 Kolon Globalco's stock expected returns. We can calculate the autocorrelation of Kolon Globalco returns to help us make a trade decision. For example, suppose you find that Kolon Globalco 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 |
Kolon Globalco 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 Kolon Globalco stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kolon Globalco stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kolon Globalco stock over time.
Current vs Lagged Prices |
| Timeline |
Kolon Globalco Lagged Returns
When evaluating Kolon Globalco's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kolon Globalco stock have on its future price. Kolon Globalco 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, Kolon Globalco autocorrelation shows the relationship between Kolon Globalco stock current value and its past values and can show if there is a momentum factor associated with investing in Kolon Globalco.
Regressed Prices |
| Timeline |
Pair Trading with Kolon Globalco
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 Kolon Globalco 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 Kolon Globalco will appreciate offsetting losses from the drop in the long position's value.Moving against Kolon Stock
The ability to find closely correlated positions to Kolon Globalco could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kolon Globalco 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 Kolon Globalco - 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 Kolon Globalco to buy it.
The correlation of Kolon Globalco 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 Kolon Globalco moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kolon Globalco 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 Kolon Globalco 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 Kolon Stock
Kolon Globalco financial ratios help investors to determine whether Kolon 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 Kolon with respect to the benefits of owning Kolon Globalco security.