Kwang Jin (Korea) Market Value
| 026910 Stock | KRW 2,035 5.00 0.25% |
| Symbol | Kwang |
Kwang Jin '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 Kwang Jin'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 Kwang Jin.
| 12/29/2022 |
| 12/18/2024 |
If you would invest 0.00 in Kwang Jin on December 29, 2022 and sell it all today you would earn a total of 0.00 from holding Kwang Jin Ind or generate 0.0% return on investment in Kwang Jin over 720 days. Kwang Jin is related to or competes with SK Telecom, Korea Information, Hansol Homedeco, Kukil Metal, Polaris Office, Homecast CoLtd, and Choil Aluminum. Co., Ltd. manufactures and sells hot rolled, cold drawn, and peeled steel bars in South Korea More
Kwang Jin 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 Kwang Jin'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 Kwang Jin Ind upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 13.61 | |||
| Value At Risk | (3.23) | |||
| Potential Upside | 2.55 |
Kwang Jin Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kwang Jin's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kwang Jin's standard deviation. In reality, there are many statistical measures that can use Kwang Jin historical prices to predict the future Kwang Jin's volatility.| Risk Adjusted Performance | (0.10) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (1.00) |
Kwang Jin Ind Backtested Returns
Kwang Jin Ind has Sharpe Ratio of -0.12, which conveys that the firm had a -0.12% return per unit of risk over the last 3 months. Kwang Jin exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kwang Jin's Risk Adjusted Performance of (0.10), mean deviation of 1.28, and Standard Deviation of 1.98 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.31, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Kwang Jin's returns are expected to increase less than the market. However, during the bear market, the loss of holding Kwang Jin is expected to be smaller as well. At this point, Kwang Jin Ind has a negative expected return of -0.22%. Please make sure to verify Kwang Jin's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Kwang Jin Ind performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.83 |
Very good predictability
Kwang Jin Ind has very good predictability. Overlapping area represents the amount of predictability between Kwang Jin time series from 29th of December 2022 to 24th of December 2023 and 24th of December 2023 to 18th 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 Kwang Jin Ind price movement. The serial correlation of 0.83 indicates that around 83.0% of current Kwang Jin price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.83 | |
| Spearman Rank Test | 0.79 | |
| Residual Average | 0.0 | |
| Price Variance | 354.8 K |
Kwang Jin Ind lagged returns against current returns
Autocorrelation, which is Kwang Jin 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 Kwang Jin's stock expected returns. We can calculate the autocorrelation of Kwang Jin returns to help us make a trade decision. For example, suppose you find that Kwang Jin 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 |
Kwang Jin 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 Kwang Jin stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kwang Jin stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kwang Jin stock over time.
Current vs Lagged Prices |
| Timeline |
Kwang Jin Lagged Returns
When evaluating Kwang Jin's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kwang Jin stock have on its future price. Kwang Jin 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, Kwang Jin autocorrelation shows the relationship between Kwang Jin stock current value and its past values and can show if there is a momentum factor associated with investing in Kwang Jin Ind.
Regressed Prices |
| Timeline |
Pair Trading with Kwang Jin
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 Kwang Jin 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 Kwang Jin will appreciate offsetting losses from the drop in the long position's value.Moving together with Kwang Stock
Moving against Kwang Stock
| 0.72 | 023440 | Jeil Steel Mfg | PairCorr |
| 0.66 | 024110 | Industrial Bank | PairCorr |
| 0.43 | 039240 | Gyeongnam Steel | PairCorr |
| 0.43 | 105560 | KB Financial Group | PairCorr |
The ability to find closely correlated positions to Kwang Jin could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kwang Jin 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 Kwang Jin - 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 Kwang Jin Ind to buy it.
The correlation of Kwang Jin 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 Kwang Jin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kwang Jin Ind 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 Kwang Jin 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 Kwang Stock
Kwang Jin financial ratios help investors to determine whether Kwang 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 Kwang with respect to the benefits of owning Kwang Jin security.