KPX Chemical (Korea) Market Value
| 025000 Stock | 43,850 450.00 1.04% |
| Symbol | KPX |
KPX 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 KPX 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 KPX Chemical.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in KPX Chemical on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding KPX Chemical or generate 0.0% return on investment in KPX Chemical over 30 days. KPX Chemical is related to or competes with Kbi Metal, Polaris Office, Daejung Chemicals, Samji Electronics, Samhwa Paint, Neungyule Education, and Eagon Industrial. More
KPX 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 KPX 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 KPX Chemical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 5.94 | |||
| Value At Risk | (1.56) | |||
| Potential Upside | 1.37 |
KPX Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KPX Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KPX Chemical's standard deviation. In reality, there are many statistical measures that can use KPX Chemical historical prices to predict the future KPX Chemical's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.31) | |||
| Treynor Ratio | (2.42) |
KPX Chemical Backtested Returns
KPX Chemical has Sharpe Ratio of -0.11, which conveys that the firm had a -0.11% return per unit of standard deviation over the last 3 months. KPX Chemical exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify KPX Chemical's Risk Adjusted Performance of (0.10), market risk adjusted performance of (2.41), and Mean Deviation of 0.7114 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.0638, which conveys not very significant fluctuations relative to the market. As returns on the market increase, KPX Chemical's returns are expected to increase less than the market. However, during the bear market, the loss of holding KPX Chemical is expected to be smaller as well. At this point, KPX Chemical has a negative expected return of -0.11%. Please make sure to verify KPX Chemical's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if KPX Chemical performance from the past will be repeated at some future point.
Auto-correlation | -0.05 |
Very weak reverse predictability
KPX Chemical has very weak reverse predictability. Overlapping area represents the amount of predictability between KPX Chemical time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th 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 KPX Chemical price movement. The serial correlation of -0.05 indicates that only as little as 5.0% of current KPX Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.05 | |
| Spearman Rank Test | 0.19 | |
| Residual Average | 0.0 | |
| Price Variance | 878.9 K |
KPX Chemical lagged returns against current returns
Autocorrelation, which is KPX 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 KPX Chemical's stock expected returns. We can calculate the autocorrelation of KPX Chemical returns to help us make a trade decision. For example, suppose you find that KPX 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 |
KPX 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 KPX Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KPX Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KPX Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
KPX Chemical Lagged Returns
When evaluating KPX Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KPX Chemical stock have on its future price. KPX 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, KPX Chemical autocorrelation shows the relationship between KPX Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in KPX Chemical.
Regressed Prices |
| Timeline |
Pair Trading with KPX 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 KPX 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 KPX Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with KPX Stock
| 0.92 | 051910 | LG Chemicals | PairCorr |
| 0.86 | 005490 | POSCO Holdings | PairCorr |
| 0.78 | 009830 | Hanwha Solutions | PairCorr |
| 0.86 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.92 | 004020 | Hyundai Steel | PairCorr |
Moving against KPX Stock
The ability to find closely correlated positions to KPX 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 KPX 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 KPX 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 KPX Chemical to buy it.
The correlation of KPX 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 KPX Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KPX 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 KPX 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 KPX Stock
KPX Chemical financial ratios help investors to determine whether KPX 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 KPX with respect to the benefits of owning KPX Chemical security.