CJ ENM (Korea) Market Value
| 035760 Stock | KRW 60,700 500.00 0.83% |
| Symbol | 035760 |
CJ ENM '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 CJ ENM'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 CJ ENM.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in CJ ENM on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding CJ ENM or generate 0.0% return on investment in CJ ENM over 30 days. CJ ENM is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. CJ ENM CO., Ltd., together with its subsidiaries, engages in media content, film, music, convention, performing arts, an... More
CJ ENM 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 CJ ENM'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 CJ ENM upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 15.4 | |||
| Value At Risk | (3.71) | |||
| Potential Upside | 4.89 |
CJ ENM Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CJ ENM's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CJ ENM's standard deviation. In reality, there are many statistical measures that can use CJ ENM historical prices to predict the future CJ ENM's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.25) | |||
| Total Risk Alpha | (0.73) | |||
| Treynor Ratio | 0.5071 |
CJ ENM Backtested Returns
CJ ENM retains Efficiency (Sharpe Ratio) of -0.11, which signifies that the company had a -0.11% return per unit of price deviation over the last 3 months. CJ ENM exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CJ ENM's Information Ratio of (0.17), variance of 6.64, and Market Risk Adjusted Performance of 0.5171 to double-check the risk estimate we provide. The firm owns a Beta (Systematic Risk) of -0.64, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning CJ ENM are expected to decrease at a much lower rate. During the bear market, CJ ENM is likely to outperform the market. At this point, CJ ENM has a negative expected return of -0.29%. Please make sure to confirm CJ ENM's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if CJ ENM performance from the past will be repeated sooner or later.
Auto-correlation | -0.38 |
Poor reverse predictability
CJ ENM has poor reverse predictability. Overlapping area represents the amount of predictability between CJ ENM time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 to 26th 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 CJ ENM price movement. The serial correlation of -0.38 indicates that just about 38.0% of current CJ ENM price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.38 | |
| Spearman Rank Test | -0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 6.5 M |
CJ ENM lagged returns against current returns
Autocorrelation, which is CJ ENM 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 CJ ENM's stock expected returns. We can calculate the autocorrelation of CJ ENM returns to help us make a trade decision. For example, suppose you find that CJ ENM 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 |
CJ ENM 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 CJ ENM stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CJ ENM stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CJ ENM stock over time.
Current vs Lagged Prices |
| Timeline |
CJ ENM Lagged Returns
When evaluating CJ ENM's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CJ ENM stock have on its future price. CJ ENM 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, CJ ENM autocorrelation shows the relationship between CJ ENM stock current value and its past values and can show if there is a momentum factor associated with investing in CJ ENM.
Regressed Prices |
| Timeline |
Pair Trading with CJ ENM
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 CJ ENM 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 CJ ENM will appreciate offsetting losses from the drop in the long position's value.Moving together with 035760 Stock
Moving against 035760 Stock
The ability to find closely correlated positions to CJ ENM could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CJ ENM 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 CJ ENM - 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 CJ ENM to buy it.
The correlation of CJ ENM 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 CJ ENM moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CJ ENM 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 CJ ENM 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 035760 Stock
CJ ENM financial ratios help investors to determine whether 035760 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 035760 with respect to the benefits of owning CJ ENM security.