Iljin Display (Korea) Market Value
| 020760 Stock | 843.00 13.00 1.57% |
| Symbol | Iljin |
Iljin Display '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 Iljin Display'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 Iljin Display.
| 11/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Iljin Display on November 29, 2023 and sell it all today you would earn a total of 0.00 from holding Iljin Display or generate 0.0% return on investment in Iljin Display over 360 days. Iljin Display is related to or competes with SK IE, and DAEDUCK ELECTRONICS. More
Iljin Display 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 Iljin Display'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 Iljin Display upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.50) | |||
| Maximum Drawdown | 5.6 | |||
| Value At Risk | (2.05) | |||
| Potential Upside | 1.29 |
Iljin Display Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Iljin Display's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Iljin Display's standard deviation. In reality, there are many statistical measures that can use Iljin Display historical prices to predict the future Iljin Display's volatility.| Risk Adjusted Performance | (0.29) | |||
| Jensen Alpha | (0.45) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | (1.90) |
Iljin Display Backtested Returns
Iljin Display holds Efficiency (Sharpe) Ratio of -0.3, which attests that the entity had a -0.3% return per unit of risk over the last 3 months. Iljin Display exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Iljin Display's Standard Deviation of 1.07, risk adjusted performance of (0.29), and Market Risk Adjusted Performance of (1.89) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.22, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Iljin Display's returns are expected to increase less than the market. However, during the bear market, the loss of holding Iljin Display is expected to be smaller as well. At this point, Iljin Display has a negative expected return of -0.31%. Please make sure to check out Iljin Display's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Iljin Display performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.29 |
Poor predictability
Iljin Display has poor predictability. Overlapping area represents the amount of predictability between Iljin Display time series from 29th of November 2023 to 27th of May 2024 and 27th 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 Iljin Display price movement. The serial correlation of 0.29 indicates that nearly 29.0% of current Iljin Display price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.29 | |
| Spearman Rank Test | 0.44 | |
| Residual Average | 0.0 | |
| Price Variance | 10.4 K |
Iljin Display lagged returns against current returns
Autocorrelation, which is Iljin Display 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 Iljin Display's stock expected returns. We can calculate the autocorrelation of Iljin Display returns to help us make a trade decision. For example, suppose you find that Iljin Display 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 |
Iljin Display 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 Iljin Display stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Iljin Display stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Iljin Display stock over time.
Current vs Lagged Prices |
| Timeline |
Iljin Display Lagged Returns
When evaluating Iljin Display's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Iljin Display stock have on its future price. Iljin Display 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, Iljin Display autocorrelation shows the relationship between Iljin Display stock current value and its past values and can show if there is a momentum factor associated with investing in Iljin Display.
Regressed Prices |
| Timeline |
Pair Trading with Iljin Display
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 Iljin Display 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 Iljin Display will appreciate offsetting losses from the drop in the long position's value.Moving together with Iljin Stock
| 0.65 | 361610 | SK IE Technology | PairCorr |
| 0.81 | 336370 | Solus Advanced Materials | PairCorr |
| 0.85 | 35320K | DAEDUCK ELECTRONICS CoLtd | PairCorr |
| 0.61 | 014915 | Sungmoon Electronics | PairCorr |
Moving against Iljin Stock
| 0.77 | 032830 | Samsung Life | PairCorr |
| 0.74 | 024110 | Industrial Bank | PairCorr |
| 0.67 | 105560 | KB Financial Group | PairCorr |
| 0.43 | 316140 | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to Iljin Display could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Iljin Display 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 Iljin Display - 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 Iljin Display to buy it.
The correlation of Iljin Display 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 Iljin Display moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Iljin Display 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 Iljin Display 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 Iljin Stock
Iljin Display financial ratios help investors to determine whether Iljin 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 Iljin with respect to the benefits of owning Iljin Display security.