Heungkuk Metaltech (Korea) Market Value
| 010240 Stock | KRW 4,820 35.00 0.73% |
| Symbol | Heungkuk |
Heungkuk Metaltech '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 Heungkuk Metaltech'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 Heungkuk Metaltech.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Heungkuk Metaltech on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Heungkuk Metaltech CoLtd or generate 0.0% return on investment in Heungkuk Metaltech over 30 days. Heungkuk Metaltech is related to or competes with Kaonmedia, MEDIANA CoLtd, Pan Entertainment, Samyang Foods, TJ Media, Korea Air, and Tamul Multimedia. ,Ltd. manufactures and sells forging parts for use in automobiles, heavy equipment, and industrial and construction mach... More
Heungkuk Metaltech 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 Heungkuk Metaltech'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 Heungkuk Metaltech CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 6.35 | |||
| Value At Risk | (1.42) | |||
| Potential Upside | 2.13 |
Heungkuk Metaltech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Heungkuk Metaltech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Heungkuk Metaltech's standard deviation. In reality, there are many statistical measures that can use Heungkuk Metaltech historical prices to predict the future Heungkuk Metaltech's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.27) |
Heungkuk Metaltech CoLtd Backtested Returns
Heungkuk Metaltech CoLtd holds Efficiency (Sharpe) Ratio of -0.0198, which attests that the entity had a -0.0198% return per unit of risk over the last 3 months. Heungkuk Metaltech CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Heungkuk Metaltech's Standard Deviation of 1.07, market risk adjusted performance of (0.26), and Risk Adjusted Performance of (0.06) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.37, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Heungkuk Metaltech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Heungkuk Metaltech is expected to be smaller as well. At this point, Heungkuk Metaltech CoLtd has a negative expected return of -0.021%. Please make sure to check out Heungkuk Metaltech's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Heungkuk Metaltech CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.01 |
Virtually no predictability
Heungkuk Metaltech CoLtd has virtually no predictability. Overlapping area represents the amount of predictability between Heungkuk Metaltech time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 Heungkuk Metaltech CoLtd price movement. The serial correlation of 0.01 indicates that just 1.0% of current Heungkuk Metaltech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.01 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 8100.41 |
Heungkuk Metaltech CoLtd lagged returns against current returns
Autocorrelation, which is Heungkuk Metaltech 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 Heungkuk Metaltech's stock expected returns. We can calculate the autocorrelation of Heungkuk Metaltech returns to help us make a trade decision. For example, suppose you find that Heungkuk Metaltech 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 |
Heungkuk Metaltech 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 Heungkuk Metaltech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Heungkuk Metaltech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Heungkuk Metaltech stock over time.
Current vs Lagged Prices |
| Timeline |
Heungkuk Metaltech Lagged Returns
When evaluating Heungkuk Metaltech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Heungkuk Metaltech stock have on its future price. Heungkuk Metaltech 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, Heungkuk Metaltech autocorrelation shows the relationship between Heungkuk Metaltech stock current value and its past values and can show if there is a momentum factor associated with investing in Heungkuk Metaltech CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Heungkuk Metaltech
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 Heungkuk Metaltech 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 Heungkuk Metaltech will appreciate offsetting losses from the drop in the long position's value.Moving together with Heungkuk Stock
The ability to find closely correlated positions to Heungkuk Metaltech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heungkuk Metaltech 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 Heungkuk Metaltech - 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 Heungkuk Metaltech CoLtd to buy it.
The correlation of Heungkuk Metaltech 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 Heungkuk Metaltech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Heungkuk Metaltech CoLtd 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 Heungkuk Metaltech 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 Heungkuk Stock
Heungkuk Metaltech financial ratios help investors to determine whether Heungkuk 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 Heungkuk with respect to the benefits of owning Heungkuk Metaltech security.