Woori Technology (Korea) Market Value
| 032820 Stock | KRW 2,390 15.00 0.63% |
| Symbol | Woori |
Woori Technology '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 Woori Technology'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 Woori Technology.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Woori Technology on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Woori Technology or generate 0.0% return on investment in Woori Technology over 30 days. Woori Technology is related to or competes with Korea Real, Korea Ratings, IQuest, and Wonbang Tech. Woori Technology, Inc. manufactures switchboard and electricity automatic control panels More
Woori Technology 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 Woori Technology'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 Woori Technology upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.1 | |||
| Information Ratio | 0.0396 | |||
| Maximum Drawdown | 20.5 | |||
| Value At Risk | (4.82) | |||
| Potential Upside | 7.38 |
Woori Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Woori Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Woori Technology's standard deviation. In reality, there are many statistical measures that can use Woori Technology historical prices to predict the future Woori Technology's volatility.| Risk Adjusted Performance | 0.064 | |||
| Jensen Alpha | 0.1441 | |||
| Total Risk Alpha | (0.34) | |||
| Sortino Ratio | 0.0501 | |||
| Treynor Ratio | 0.2528 |
Woori Technology Backtested Returns
At this point, Woori Technology is very steady. Woori Technology shows Sharpe Ratio of 0.0501, which attests that the company had a 0.0501% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Woori Technology, which you can use to evaluate the volatility of the company. Please check out Woori Technology's Market Risk Adjusted Performance of 0.2628, mean deviation of 2.93, and Downside Deviation of 3.1 to validate if the risk estimate we provide is consistent with the expected return of 0.19%. Woori Technology has a performance score of 3 on a scale of 0 to 100. The firm maintains a market beta of 1.09, which attests to a somewhat significant risk relative to the market. Woori Technology returns are very sensitive to returns on the market. As the market goes up or down, Woori Technology is expected to follow. Woori Technology right now maintains a risk of 3.87%. Please check out Woori Technology downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if Woori Technology will be following its historical returns.
Auto-correlation | 0.22 |
Weak predictability
Woori Technology has weak predictability. Overlapping area represents the amount of predictability between Woori Technology time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Woori Technology price movement. The serial correlation of 0.22 indicates that over 22.0% of current Woori Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | -0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 4988.02 |
Woori Technology lagged returns against current returns
Autocorrelation, which is Woori Technology 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 Woori Technology's stock expected returns. We can calculate the autocorrelation of Woori Technology returns to help us make a trade decision. For example, suppose you find that Woori Technology 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 |
Woori Technology 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 Woori Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Woori Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Woori Technology stock over time.
Current vs Lagged Prices |
| Timeline |
Woori Technology Lagged Returns
When evaluating Woori Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Woori Technology stock have on its future price. Woori Technology 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, Woori Technology autocorrelation shows the relationship between Woori Technology stock current value and its past values and can show if there is a momentum factor associated with investing in Woori Technology.
Regressed Prices |
| Timeline |
Pair Trading with Woori Technology
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 Woori Technology 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 Woori Technology will appreciate offsetting losses from the drop in the long position's value.Moving against Woori Stock
The ability to find closely correlated positions to Woori Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Woori Technology 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 Woori Technology - 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 Woori Technology to buy it.
The correlation of Woori Technology 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 Woori Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Woori Technology 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 Woori Technology 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 Woori Stock
Woori Technology financial ratios help investors to determine whether Woori 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 Woori with respect to the benefits of owning Woori Technology security.