Daihan Pharmaceutical (Korea) Market Value
| 023910 Stock | KRW 26,200 200.00 0.77% |
| Symbol | Daihan |
Daihan Pharmaceutical '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 Daihan Pharmaceutical'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 Daihan Pharmaceutical.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Daihan Pharmaceutical on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Daihan Pharmaceutical CoLtd or generate 0.0% return on investment in Daihan Pharmaceutical over 30 days. Daihan Pharmaceutical is related to or competes with Konan Technology, KG Eco, Eagle Veterinary, Puloon Technology, People Technology, Korean Air, and NewFlex Technology. ,Ltd. manufactures and sells various medicinal products in South Korea More
Daihan Pharmaceutical 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 Daihan Pharmaceutical'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 Daihan Pharmaceutical CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 4.95 | |||
| Value At Risk | (1.52) | |||
| Potential Upside | 1.37 |
Daihan Pharmaceutical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Daihan Pharmaceutical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Daihan Pharmaceutical's standard deviation. In reality, there are many statistical measures that can use Daihan Pharmaceutical historical prices to predict the future Daihan Pharmaceutical's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.18) | |||
| Treynor Ratio | 0.3718 |
Daihan Pharmaceutical Backtested Returns
Daihan Pharmaceutical secures Sharpe Ratio (or Efficiency) of -0.022, which denotes the company had a -0.022% return per unit of risk over the last 3 months. Daihan Pharmaceutical CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Daihan Pharmaceutical's Mean Deviation of 0.6147, variance of 0.9266, and Standard Deviation of 0.9626 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.0838, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Daihan Pharmaceutical are expected to decrease at a much lower rate. During the bear market, Daihan Pharmaceutical is likely to outperform the market. At this point, Daihan Pharmaceutical has a negative expected return of -0.0212%. Please make sure to confirm Daihan Pharmaceutical's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Daihan Pharmaceutical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Daihan Pharmaceutical CoLtd has weak predictability. Overlapping area represents the amount of predictability between Daihan Pharmaceutical 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 Daihan Pharmaceutical price movement. The serial correlation of 0.22 indicates that over 22.0% of current Daihan Pharmaceutical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.77 | |
| Residual Average | 0.0 | |
| Price Variance | 447.5 K |
Daihan Pharmaceutical lagged returns against current returns
Autocorrelation, which is Daihan Pharmaceutical 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 Daihan Pharmaceutical's stock expected returns. We can calculate the autocorrelation of Daihan Pharmaceutical returns to help us make a trade decision. For example, suppose you find that Daihan Pharmaceutical 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 |
Daihan Pharmaceutical 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 Daihan Pharmaceutical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Daihan Pharmaceutical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Daihan Pharmaceutical stock over time.
Current vs Lagged Prices |
| Timeline |
Daihan Pharmaceutical Lagged Returns
When evaluating Daihan Pharmaceutical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Daihan Pharmaceutical stock have on its future price. Daihan Pharmaceutical 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, Daihan Pharmaceutical autocorrelation shows the relationship between Daihan Pharmaceutical stock current value and its past values and can show if there is a momentum factor associated with investing in Daihan Pharmaceutical CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Daihan Pharmaceutical
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 Daihan Pharmaceutical 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 Daihan Pharmaceutical will appreciate offsetting losses from the drop in the long position's value.Moving together with Daihan Stock
Moving against Daihan Stock
The ability to find closely correlated positions to Daihan Pharmaceutical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daihan Pharmaceutical 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 Daihan Pharmaceutical - 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 Daihan Pharmaceutical CoLtd to buy it.
The correlation of Daihan Pharmaceutical 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 Daihan Pharmaceutical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daihan Pharmaceutical 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 Daihan Pharmaceutical 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 Daihan Stock
Daihan Pharmaceutical financial ratios help investors to determine whether Daihan 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 Daihan with respect to the benefits of owning Daihan Pharmaceutical security.