Daedong Gear (Korea) Market Value
| 008830 Stock | KRW 11,700 340.00 2.82% |
| Symbol | Daedong |
Daedong Gear '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 Daedong Gear'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 Daedong Gear.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Daedong Gear on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Daedong Gear Co or generate 0.0% return on investment in Daedong Gear over 540 days. Daedong Gear is related to or competes with Dongkuk Structures, Polaris Office, Taegu Broadcasting, Asiana Airlines, Dongwoo Farm, and Innowireless. Daedong Gear Co., Ltd. manufactures and sells power components in South Korea and internationally More
Daedong Gear 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 Daedong Gear'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 Daedong Gear Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.7 | |||
| Information Ratio | 0.1151 | |||
| Maximum Drawdown | 29.88 | |||
| Value At Risk | (3.06) | |||
| Potential Upside | 7.17 |
Daedong Gear Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Daedong Gear's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Daedong Gear's standard deviation. In reality, there are many statistical measures that can use Daedong Gear historical prices to predict the future Daedong Gear's volatility.| Risk Adjusted Performance | 0.1172 | |||
| Jensen Alpha | 0.5921 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | 0.1989 | |||
| Treynor Ratio | 1.25 |
Daedong Gear Backtested Returns
Daedong Gear appears to be very steady, given 3 months investment horizon. Daedong Gear secures Sharpe Ratio (or Efficiency) of 0.17, which denotes the company had a 0.17% return per unit of standard deviation over the last 3 months. By reviewing Daedong Gear's technical indicators, you can evaluate if the expected return of 0.82% is justified by implied risk. Please utilize Daedong Gear's Downside Deviation of 2.7, mean deviation of 2.44, and Semi Deviation of 2.01 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Daedong Gear holds a performance score of 13. The firm shows a Beta (market volatility) of 0.52, which means possible diversification benefits within a given portfolio. As returns on the market increase, Daedong Gear's returns are expected to increase less than the market. However, during the bear market, the loss of holding Daedong Gear is expected to be smaller as well. Please check Daedong Gear's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Daedong Gear's price patterns will revert.
Auto-correlation | -0.57 |
Good reverse predictability
Daedong Gear Co has good reverse predictability. Overlapping area represents the amount of predictability between Daedong Gear 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 Daedong Gear price movement. The serial correlation of -0.57 indicates that roughly 57.0% of current Daedong Gear price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.57 | |
| Spearman Rank Test | -0.57 | |
| Residual Average | 0.0 | |
| Price Variance | 2.2 M |
Daedong Gear lagged returns against current returns
Autocorrelation, which is Daedong Gear 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 Daedong Gear's stock expected returns. We can calculate the autocorrelation of Daedong Gear returns to help us make a trade decision. For example, suppose you find that Daedong Gear 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 |
Daedong Gear 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 Daedong Gear stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Daedong Gear stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Daedong Gear stock over time.
Current vs Lagged Prices |
| Timeline |
Daedong Gear Lagged Returns
When evaluating Daedong Gear's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Daedong Gear stock have on its future price. Daedong Gear 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, Daedong Gear autocorrelation shows the relationship between Daedong Gear stock current value and its past values and can show if there is a momentum factor associated with investing in Daedong Gear Co.
Regressed Prices |
| Timeline |
Pair Trading with Daedong Gear
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 Daedong Gear 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 Daedong Gear will appreciate offsetting losses from the drop in the long position's value.Moving together with Daedong Stock
Moving against Daedong Stock
| 0.7 | 126640 | Hwashin Precision | PairCorr |
| 0.69 | 013720 | CBI Co | PairCorr |
| 0.61 | 265560 | YOUNGHWA TECH | PairCorr |
| 0.58 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.43 | 298380 | ABL Bio | PairCorr |
The ability to find closely correlated positions to Daedong Gear could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daedong Gear 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 Daedong Gear - 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 Daedong Gear Co to buy it.
The correlation of Daedong Gear 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 Daedong Gear moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daedong Gear 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 Daedong Gear 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 Daedong Stock
Daedong Gear financial ratios help investors to determine whether Daedong 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 Daedong with respect to the benefits of owning Daedong Gear security.