Wonil Special (Korea) Market Value
| 012620 Stock | KRW 7,130 30.00 0.42% |
| Symbol | Wonil |
Wonil Special '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 Wonil Special'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 Wonil Special.
| 10/30/2023 |
| 11/23/2024 |
If you would invest 0.00 in Wonil Special on October 30, 2023 and sell it all today you would earn a total of 0.00 from holding Wonil Special Steel or generate 0.0% return on investment in Wonil Special over 390 days. Wonil Special is related to or competes with Samick Musical, Coloray International, Homecast CoLtd, Genie Music, EBEST Investment, and Atinum Investment. Wonil Special Steel Co., Ltd manufactures and distributes specialty steel solutions in South Korea. More
Wonil Special 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 Wonil Special'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 Wonil Special Steel upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 6.97 | |||
| Value At Risk | (2.99) | |||
| Potential Upside | 2.69 |
Wonil Special Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Wonil Special's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Wonil Special's standard deviation. In reality, there are many statistical measures that can use Wonil Special historical prices to predict the future Wonil Special's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.08) | |||
| Total Risk Alpha | (0.29) | |||
| Treynor Ratio | (0.94) |
Wonil Special Steel Backtested Returns
Wonil Special Steel shows Sharpe Ratio of -0.0368, which attests that the company had a -0.0368% return per unit of risk over the last 3 months. Wonil Special Steel exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Wonil Special's Market Risk Adjusted Performance of (0.93), standard deviation of 1.43, and Mean Deviation of 1.02 to validate the risk estimate we provide. The firm maintains a market beta of 0.0725, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Wonil Special's returns are expected to increase less than the market. However, during the bear market, the loss of holding Wonil Special is expected to be smaller as well. At this point, Wonil Special Steel has a negative expected return of -0.0537%. Please make sure to check out Wonil Special's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Wonil Special Steel performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.70 |
Good predictability
Wonil Special Steel has good predictability. Overlapping area represents the amount of predictability between Wonil Special time series from 30th of October 2023 to 12th of May 2024 and 12th of May 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 Wonil Special Steel price movement. The serial correlation of 0.7 indicates that around 70.0% of current Wonil Special price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.7 | |
| Spearman Rank Test | 0.62 | |
| Residual Average | 0.0 | |
| Price Variance | 200.2 K |
Wonil Special Steel lagged returns against current returns
Autocorrelation, which is Wonil Special 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 Wonil Special's stock expected returns. We can calculate the autocorrelation of Wonil Special returns to help us make a trade decision. For example, suppose you find that Wonil Special 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 |
Wonil Special 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 Wonil Special stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Wonil Special stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Wonil Special stock over time.
Current vs Lagged Prices |
| Timeline |
Wonil Special Lagged Returns
When evaluating Wonil Special's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Wonil Special stock have on its future price. Wonil Special 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, Wonil Special autocorrelation shows the relationship between Wonil Special stock current value and its past values and can show if there is a momentum factor associated with investing in Wonil Special Steel.
Regressed Prices |
| Timeline |
Pair Trading with Wonil Special
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 Wonil Special 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 Wonil Special will appreciate offsetting losses from the drop in the long position's value.Moving together with Wonil Stock
The ability to find closely correlated positions to Wonil Special could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wonil Special 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 Wonil Special - 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 Wonil Special Steel to buy it.
The correlation of Wonil Special 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 Wonil Special moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wonil Special Steel 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 Wonil Special 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 Wonil Stock
Wonil Special financial ratios help investors to determine whether Wonil 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 Wonil with respect to the benefits of owning Wonil Special security.