Kukdong Oil (Korea) Market Value
| 014530 Stock | 3,630 10.00 0.28% |
| Symbol | Kukdong |
Kukdong Oil '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 Kukdong Oil'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 Kukdong Oil.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Kukdong Oil on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Kukdong Oil Chemicals or generate 0.0% return on investment in Kukdong Oil over 30 days. Kukdong Oil is related to or competes with Hana Materials, Hanjin Transportation, Hanmi Semiconductor, LAKE MATERIALS, Jeju Semiconductor, and Hyundai Engineering. More
Kukdong Oil 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 Kukdong Oil'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 Kukdong Oil Chemicals upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 8.21 | |||
| Value At Risk | (2.43) | |||
| Potential Upside | 1.19 |
Kukdong Oil Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kukdong Oil's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kukdong Oil's standard deviation. In reality, there are many statistical measures that can use Kukdong Oil historical prices to predict the future Kukdong Oil's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | (10.44) |
Kukdong Oil Chemicals Backtested Returns
Kukdong Oil Chemicals has Sharpe Ratio of -0.0566, which conveys that the firm had a -0.0566% return per unit of risk over the last 3 months. Kukdong Oil exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kukdong Oil's Standard Deviation of 1.19, mean deviation of 0.7406, and Risk Adjusted Performance of (0.09) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0142, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Kukdong Oil's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kukdong Oil is expected to be smaller as well. At this point, Kukdong Oil Chemicals has a negative expected return of -0.0664%. Please make sure to verify Kukdong Oil's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Kukdong Oil Chemicals performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.66 |
Good predictability
Kukdong Oil Chemicals has good predictability. Overlapping area represents the amount of predictability between Kukdong Oil time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Kukdong Oil Chemicals price movement. The serial correlation of 0.66 indicates that around 66.0% of current Kukdong Oil price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 2569.42 |
Kukdong Oil Chemicals lagged returns against current returns
Autocorrelation, which is Kukdong Oil 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 Kukdong Oil's stock expected returns. We can calculate the autocorrelation of Kukdong Oil returns to help us make a trade decision. For example, suppose you find that Kukdong Oil 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 |
Kukdong Oil 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 Kukdong Oil stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kukdong Oil stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kukdong Oil stock over time.
Current vs Lagged Prices |
| Timeline |
Kukdong Oil Lagged Returns
When evaluating Kukdong Oil's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kukdong Oil stock have on its future price. Kukdong Oil 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, Kukdong Oil autocorrelation shows the relationship between Kukdong Oil stock current value and its past values and can show if there is a momentum factor associated with investing in Kukdong Oil Chemicals.
Regressed Prices |
| Timeline |
Pair Trading with Kukdong Oil
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 Kukdong Oil 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 Kukdong Oil will appreciate offsetting losses from the drop in the long position's value.Moving together with Kukdong Stock
Moving against Kukdong Stock
The ability to find closely correlated positions to Kukdong Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kukdong Oil 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 Kukdong Oil - 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 Kukdong Oil Chemicals to buy it.
The correlation of Kukdong Oil 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 Kukdong Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kukdong Oil Chemicals 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 Kukdong Oil 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 Kukdong Stock
Kukdong Oil financial ratios help investors to determine whether Kukdong 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 Kukdong with respect to the benefits of owning Kukdong Oil security.