Korea Refract (Korea) Market Value
| 010040 Stock | 2,135 35.00 1.67% |
| Symbol | Korea |
Korea Refract '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 Korea Refract'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 Korea Refract.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Korea Refract on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Korea Refract or generate 0.0% return on investment in Korea Refract over 270 days. Korea Refract is related to or competes with Kisan Telecom, CU Medical, KT Submarine, Playgram, PlayD, DB Insurance, and Samsung Life. More
Korea Refract 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 Korea Refract'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 Korea Refract upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 8.82 | |||
| Value At Risk | (2.18) | |||
| Potential Upside | 2.25 |
Korea Refract Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Korea Refract's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Korea Refract's standard deviation. In reality, there are many statistical measures that can use Korea Refract historical prices to predict the future Korea Refract's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.41) | |||
| Treynor Ratio | 5.82 |
Korea Refract Backtested Returns
Korea Refract has Sharpe Ratio of -0.0844, which conveys that the firm had a -0.0844% return per unit of risk over the last 3 months. Korea Refract exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Korea Refract's Mean Deviation of 1.13, risk adjusted performance of (0.08), and Standard Deviation of 1.51 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.0302, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Korea Refract are expected to decrease at a much lower rate. During the bear market, Korea Refract is likely to outperform the market. At this point, Korea Refract has a negative expected return of -0.13%. Please make sure to verify Korea Refract's jensen alpha, treynor ratio, value at risk, as well as the relationship between the total risk alpha and maximum drawdown , to decide if Korea Refract performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.75 |
Good predictability
Korea Refract has good predictability. Overlapping area represents the amount of predictability between Korea Refract time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Korea Refract price movement. The serial correlation of 0.75 indicates that around 75.0% of current Korea Refract price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.75 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 24.8 K |
Korea Refract lagged returns against current returns
Autocorrelation, which is Korea Refract 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 Korea Refract's stock expected returns. We can calculate the autocorrelation of Korea Refract returns to help us make a trade decision. For example, suppose you find that Korea Refract 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 |
Korea Refract 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 Korea Refract stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Korea Refract stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Korea Refract stock over time.
Current vs Lagged Prices |
| Timeline |
Korea Refract Lagged Returns
When evaluating Korea Refract's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Korea Refract stock have on its future price. Korea Refract 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, Korea Refract autocorrelation shows the relationship between Korea Refract stock current value and its past values and can show if there is a momentum factor associated with investing in Korea Refract.
Regressed Prices |
| Timeline |
Pair Trading with Korea Refract
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 Korea Refract 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 Korea Refract will appreciate offsetting losses from the drop in the long position's value.Moving against Korea Stock
| 0.58 | 100840 | SNTEnergy | PairCorr |
| 0.43 | 034020 | Doosan Heavy Ind | PairCorr |
| 0.33 | 373220 | LG Energy Solution | PairCorr |
| 0.31 | 298040 | Hyosung Heavy Industries | PairCorr |
The ability to find closely correlated positions to Korea Refract could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Korea Refract 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 Korea Refract - 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 Korea Refract to buy it.
The correlation of Korea Refract 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 Korea Refract moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Korea Refract 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 Korea Refract 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 Korea Stock
Korea Refract financial ratios help investors to determine whether Korea 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 Korea with respect to the benefits of owning Korea Refract security.