Kukdo Chemical (Korea) Market Value
| 007690 Stock | 28,650 750.00 2.55% |
| Symbol | Kukdo |
Kukdo Chemical '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 Kukdo Chemical'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 Kukdo Chemical.
| 12/08/2023 |
| 12/02/2024 |
If you would invest 0.00 in Kukdo Chemical on December 8, 2023 and sell it all today you would earn a total of 0.00 from holding Kukdo Chemical or generate 0.0% return on investment in Kukdo Chemical over 360 days.
Kukdo Chemical 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 Kukdo Chemical'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 Kukdo Chemical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 10.09 | |||
| Value At Risk | (2.64) | |||
| Potential Upside | 2.38 |
Kukdo Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kukdo Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kukdo Chemical's standard deviation. In reality, there are many statistical measures that can use Kukdo Chemical historical prices to predict the future Kukdo Chemical's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.49) | |||
| Treynor Ratio | 1.74 |
Kukdo Chemical Backtested Returns
Kukdo Chemical has Sharpe Ratio of -0.12, which conveys that the firm had a -0.12% return per unit of risk over the last 3 months. Kukdo Chemical exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kukdo Chemical's Standard Deviation of 1.71, risk adjusted performance of (0.08), and Mean Deviation of 1.31 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.12, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kukdo Chemical are expected to decrease at a much lower rate. During the bear market, Kukdo Chemical is likely to outperform the market. At this point, Kukdo Chemical has a negative expected return of -0.22%. Please make sure to verify Kukdo Chemical's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Kukdo Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.54 |
Modest predictability
Kukdo Chemical has modest predictability. Overlapping area represents the amount of predictability between Kukdo Chemical time series from 8th of December 2023 to 5th of June 2024 and 5th of June 2024 to 2nd 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 Kukdo Chemical price movement. The serial correlation of 0.54 indicates that about 54.0% of current Kukdo Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.54 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 8.2 M |
Kukdo Chemical lagged returns against current returns
Autocorrelation, which is Kukdo Chemical 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 Kukdo Chemical's stock expected returns. We can calculate the autocorrelation of Kukdo Chemical returns to help us make a trade decision. For example, suppose you find that Kukdo Chemical 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 |
Kukdo Chemical 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 Kukdo Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kukdo Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kukdo Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Kukdo Chemical Lagged Returns
When evaluating Kukdo Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kukdo Chemical stock have on its future price. Kukdo Chemical 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, Kukdo Chemical autocorrelation shows the relationship between Kukdo Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Kukdo Chemical.
Regressed Prices |
| Timeline |
Pair Trading with Kukdo Chemical
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 Kukdo Chemical 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 Kukdo Chemical will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Kukdo Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kukdo Chemical 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 Kukdo Chemical - 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 Kukdo Chemical to buy it.
The correlation of Kukdo Chemical 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 Kukdo Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kukdo Chemical 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 Kukdo Chemical 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.