Daewon Chemical (Korea) Market Value
| 024890 Stock | 1,152 68.00 6.27% |
| Symbol | Daewon |
Daewon Chemical '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 Daewon Chemical'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 Daewon Chemical.
| 01/12/2023 |
| 12/02/2024 |
If you would invest 0.00 in Daewon Chemical on January 12, 2023 and sell it all today you would earn a total of 0.00 from holding Daewon Chemical Co or generate 0.0% return on investment in Daewon Chemical over 690 days. Daewon Chemical is related to or competes with Daejoo Electronic, Phoenix Materials, INNOX Advanced, Lotte Energy, Hana Materials, Aprogen Healthcare, and LAKE MATERIALS. More
Daewon Chemical 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 Daewon Chemical'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 Daewon Chemical Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 42.44 | |||
| Value At Risk | (7.07) | |||
| Potential Upside | 5.85 |
Daewon Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Daewon Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Daewon Chemical's standard deviation. In reality, there are many statistical measures that can use Daewon Chemical historical prices to predict the future Daewon Chemical's volatility.| Risk Adjusted Performance | (0) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.89) | |||
| Treynor Ratio | 0.1747 |
Daewon Chemical Backtested Returns
Daewon Chemical secures Sharpe Ratio (or Efficiency) of -0.0202, which denotes the company had a -0.0202% return per unit of standard deviation over the last 3 months. Daewon Chemical Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Daewon Chemical's Mean Deviation of 2.23, coefficient of variation of (5,774), and Standard Deviation of 4.78 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.53, which means possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Daewon Chemical are expected to decrease at a much lower rate. During the bear market, Daewon Chemical is likely to outperform the market. At this point, Daewon Chemical has a negative expected return of -0.1%. Please make sure to confirm Daewon Chemical's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Daewon Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.52 |
Modest predictability
Daewon Chemical Co has modest predictability. Overlapping area represents the amount of predictability between Daewon Chemical time series from 12th of January 2023 to 23rd of December 2023 and 23rd of December 2023 to 2nd of December 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 Daewon Chemical price movement. The serial correlation of 0.52 indicates that about 52.0% of current Daewon Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 89.2 K |
Daewon Chemical lagged returns against current returns
Autocorrelation, which is Daewon Chemical 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 Daewon Chemical's stock expected returns. We can calculate the autocorrelation of Daewon Chemical returns to help us make a trade decision. For example, suppose you find that Daewon Chemical 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 |
Daewon Chemical 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 Daewon Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Daewon Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Daewon Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Daewon Chemical Lagged Returns
When evaluating Daewon Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Daewon Chemical stock have on its future price. Daewon Chemical 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, Daewon Chemical autocorrelation shows the relationship between Daewon Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Daewon Chemical Co.
Regressed Prices |
| Timeline |
Pair Trading with Daewon Chemical
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 Daewon Chemical 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 Daewon Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Daewon Stock
Moving against Daewon Stock
The ability to find closely correlated positions to Daewon Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Daewon Chemical 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 Daewon Chemical - 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 Daewon Chemical Co to buy it.
The correlation of Daewon Chemical 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 Daewon Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Daewon Chemical 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 Daewon Chemical 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 Daewon Stock
Daewon Chemical financial ratios help investors to determine whether Daewon 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 Daewon with respect to the benefits of owning Daewon Chemical security.