Eagon Industrial (Korea) Market Value
| 008250 Stock | 4,880 5.00 0.10% |
| Symbol | Eagon |
Eagon Industrial '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 Eagon Industrial'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 Eagon Industrial.
| 12/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Eagon Industrial on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding Eagon Industrial Co or generate 0.0% return on investment in Eagon Industrial over 330 days. Eagon Industrial is related to or competes with AptaBio Therapeutics, Daewoo SBI, Dream Security, Microfriend, Innometry, and Jahwa Electron. More
Eagon Industrial 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 Eagon Industrial'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 Eagon Industrial Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 7.37 | |||
| Value At Risk | (2.49) | |||
| Potential Upside | 2.4 |
Eagon Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Eagon Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Eagon Industrial's standard deviation. In reality, there are many statistical measures that can use Eagon Industrial historical prices to predict the future Eagon Industrial's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.14) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | 2.07 |
Eagon Industrial Backtested Returns
Eagon Industrial secures Sharpe Ratio (or Efficiency) of -0.1, which denotes the company had a -0.1% return per unit of risk over the last 3 months. Eagon Industrial Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Eagon Industrial's Variance of 2.24, standard deviation of 1.5, and Mean Deviation of 1.08 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0695, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Eagon Industrial are expected to decrease at a much lower rate. During the bear market, Eagon Industrial is likely to outperform the market. At this point, Eagon Industrial has a negative expected return of -0.15%. Please make sure to confirm Eagon Industrial's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Eagon Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.75 |
Good predictability
Eagon Industrial Co has good predictability. Overlapping area represents the amount of predictability between Eagon Industrial time series from 29th of December 2023 to 11th of June 2024 and 11th of June 2024 to 23rd 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 Eagon Industrial price movement. The serial correlation of 0.75 indicates that around 75.0% of current Eagon Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.73 | |
| Residual Average | 0.0 | |
| Price Variance | 50.2 K |
Eagon Industrial lagged returns against current returns
Autocorrelation, which is Eagon Industrial 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 Eagon Industrial's stock expected returns. We can calculate the autocorrelation of Eagon Industrial returns to help us make a trade decision. For example, suppose you find that Eagon Industrial 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 |
Eagon Industrial 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 Eagon Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Eagon Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Eagon Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Eagon Industrial Lagged Returns
When evaluating Eagon Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Eagon Industrial stock have on its future price. Eagon Industrial 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, Eagon Industrial autocorrelation shows the relationship between Eagon Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Eagon Industrial Co.
Regressed Prices |
| Timeline |
Pair Trading with Eagon Industrial
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 Eagon Industrial 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 Eagon Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with Eagon Stock
Moving against Eagon Stock
The ability to find closely correlated positions to Eagon Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eagon Industrial 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 Eagon Industrial - 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 Eagon Industrial Co to buy it.
The correlation of Eagon Industrial 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 Eagon Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eagon Industrial 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 Eagon Industrial 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 Eagon Stock
Eagon Industrial financial ratios help investors to determine whether Eagon 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 Eagon with respect to the benefits of owning Eagon Industrial security.