BYON (Korea) Market Value
| 032980 Stock | KRW 840.00 46.00 5.79% |
| Symbol | BYON |
BYON '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 BYON'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 BYON.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in BYON on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding BYON Co or generate 0.0% return on investment in BYON over 30 days. BYON is related to or competes with Dongbang Ship, Camus Engineering, ABOV Semiconductor, Alton Sports, Nam Hwa, and KEPCO Engineering. BYON Co., Ltd. manufactures and sells industrial chemicals in South Korea and internationally More
BYON 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 BYON'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 BYON Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 23.55 | |||
| Value At Risk | (7.83) | |||
| Potential Upside | 7.04 |
BYON Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for BYON's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as BYON's standard deviation. In reality, there are many statistical measures that can use BYON historical prices to predict the future BYON's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.45) | |||
| Total Risk Alpha | (1.14) | |||
| Treynor Ratio | (0.77) |
BYON Backtested Returns
BYON secures Sharpe Ratio (or Efficiency) of -0.0254, which signifies that the company had a -0.0254% return per unit of risk over the last 3 months. BYON Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm BYON's mean deviation of 3.36, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.51, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, BYON's returns are expected to increase less than the market. However, during the bear market, the loss of holding BYON is expected to be smaller as well. At this point, BYON has a negative expected return of -0.13%. Please make sure to confirm BYON's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if BYON performance from the past will be repeated at future time.
Auto-correlation | 0.50 |
Modest predictability
BYON Co has modest predictability. Overlapping area represents the amount of predictability between BYON time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 BYON price movement. The serial correlation of 0.5 indicates that about 50.0% of current BYON price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 3856.6 |
BYON lagged returns against current returns
Autocorrelation, which is BYON 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 BYON's stock expected returns. We can calculate the autocorrelation of BYON returns to help us make a trade decision. For example, suppose you find that BYON 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 |
BYON 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 BYON stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if BYON stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in BYON stock over time.
Current vs Lagged Prices |
| Timeline |
BYON Lagged Returns
When evaluating BYON's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of BYON stock have on its future price. BYON 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, BYON autocorrelation shows the relationship between BYON stock current value and its past values and can show if there is a momentum factor associated with investing in BYON Co.
Regressed Prices |
| Timeline |
Pair Trading with BYON
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 BYON 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 BYON will appreciate offsetting losses from the drop in the long position's value.Moving together with BYON Stock
Moving against BYON Stock
The ability to find closely correlated positions to BYON could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BYON 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 BYON - 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 BYON Co to buy it.
The correlation of BYON 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 BYON moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BYON 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 BYON 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 BYON Stock
BYON financial ratios help investors to determine whether BYON 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 BYON with respect to the benefits of owning BYON security.