Korea Environment (Korea) Market Value
| 029960 Stock | KRW 9,020 20.00 0.22% |
| Symbol | Korea |
Korea Environment '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 Korea Environment'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 Korea Environment.
| 06/28/2024 |
| 12/25/2024 |
If you would invest 0.00 in Korea Environment on June 28, 2024 and sell it all today you would earn a total of 0.00 from holding Korea Environment Technology or generate 0.0% return on investment in Korea Environment over 180 days. Korea Environment is related to or competes with INSUN Environmental, LEENO Industrial, Kmw, and NICE Information. Koentec Co., Ltd. engages in the collection, transportation, and disposal of wastes. More
Korea Environment 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 Korea Environment'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 Korea Environment Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.7 | |||
| Information Ratio | 0.1396 | |||
| Maximum Drawdown | 18.13 | |||
| Value At Risk | (2.46) | |||
| Potential Upside | 2.41 |
Korea Environment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Korea Environment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Korea Environment's standard deviation. In reality, there are many statistical measures that can use Korea Environment historical prices to predict the future Korea Environment's volatility.| Risk Adjusted Performance | 0.1337 | |||
| Jensen Alpha | 0.3545 | |||
| Total Risk Alpha | 0.2564 | |||
| Sortino Ratio | 0.1893 | |||
| Treynor Ratio | 6.06 |
Korea Environment Backtested Returns
Korea Environment appears to be very steady, given 3 months investment horizon. Korea Environment has Sharpe Ratio of 0.14, which conveys that the firm had a 0.14% return per unit of risk over the last 3 months. We have found thirty technical indicators for Korea Environment, which you can use to evaluate the volatility of the firm. Please exercise Korea Environment's Mean Deviation of 1.12, risk adjusted performance of 0.1337, and Downside Deviation of 1.7 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Korea Environment holds a performance score of 10. The company secures a Beta (Market Risk) of 0.0588, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Korea Environment's returns are expected to increase less than the market. However, during the bear market, the loss of holding Korea Environment is expected to be smaller as well. Please check Korea Environment's coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to make a quick decision on whether Korea Environment's current price movements will revert.
Auto-correlation | 0.63 |
Good predictability
Korea Environment Technology has good predictability. Overlapping area represents the amount of predictability between Korea Environment time series from 28th of June 2024 to 26th of September 2024 and 26th of September 2024 to 25th 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 Korea Environment price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Korea Environment price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | 0.69 | |
| Residual Average | 0.0 | |
| Price Variance | 641 K |
Korea Environment lagged returns against current returns
Autocorrelation, which is Korea Environment 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 Korea Environment's stock expected returns. We can calculate the autocorrelation of Korea Environment returns to help us make a trade decision. For example, suppose you find that Korea Environment 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 |
Korea Environment 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 Korea Environment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Korea Environment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Korea Environment stock over time.
Current vs Lagged Prices |
| Timeline |
Korea Environment Lagged Returns
When evaluating Korea Environment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Korea Environment stock have on its future price. Korea Environment 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, Korea Environment autocorrelation shows the relationship between Korea Environment stock current value and its past values and can show if there is a momentum factor associated with investing in Korea Environment Technology.
Regressed Prices |
| Timeline |
Pair Trading with Korea Environment
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 Korea Environment 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 Korea Environment will appreciate offsetting losses from the drop in the long position's value.Moving against Korea Stock
| 0.79 | 005930 | Samsung Electronics | PairCorr |
| 0.78 | 005385 | Hyundai Motor | PairCorr |
| 0.78 | 005387 | Hyundai Motor | PairCorr |
| 0.75 | 005380 | Hyundai Motor | PairCorr |
| 0.74 | 005935 | Samsung Electronics | PairCorr |
The ability to find closely correlated positions to Korea Environment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Korea Environment 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 Korea Environment - 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 Korea Environment Technology to buy it.
The correlation of Korea Environment 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 Korea Environment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Korea Environment 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 Korea Environment 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 Korea Stock
Korea Environment financial ratios help investors to determine whether Korea 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 Korea with respect to the benefits of owning Korea Environment security.