Korea Gas (Korea) Market Value
| 036460 Stock | 46,450 1,250 2.77% |
| Symbol | Korea |
Korea Gas '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 Gas' 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 Gas.
| 12/02/2022 |
| 11/21/2024 |
If you would invest 0.00 in Korea Gas on December 2, 2022 and sell it all today you would earn a total of 0.00 from holding Korea Gas or generate 0.0% return on investment in Korea Gas over 720 days. Korea Gas is related to or competes with GS Engineering, Seohee Construction, Air Busan, Korea Air, Taegu Broadcasting, SEOJEON ELECTRIC, and Tway Air. More
Korea Gas 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 Gas' 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 Gas upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.45 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 15.58 | |||
| Value At Risk | (5.63) | |||
| Potential Upside | 6.43 |
Korea Gas Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Korea Gas' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Korea Gas' standard deviation. In reality, there are many statistical measures that can use Korea Gas historical prices to predict the future Korea Gas' volatility.| Risk Adjusted Performance | 0.0125 | |||
| Jensen Alpha | 0.0947 | |||
| Total Risk Alpha | (0.37) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.01) |
Korea Gas Backtested Returns
Korea Gas has Sharpe Ratio of -0.0076, which conveys that the firm had a -0.0076% return per unit of risk over the last 3 months. Korea Gas exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Korea Gas' Risk Adjusted Performance of 0.0125, downside deviation of 3.45, and Mean Deviation of 2.4 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.98, which conveys possible diversification benefits within a given portfolio. As the market becomes more bullish, returns on owning Korea Gas are expected to decrease slowly. On the other hand, during market turmoil, Korea Gas is expected to outperform it slightly. At this point, Korea Gas has a negative expected return of -0.0247%. Please make sure to verify Korea Gas' coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Korea Gas performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.71 |
Almost perfect reverse predictability
Korea Gas has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Korea Gas time series from 2nd of December 2022 to 27th of November 2023 and 27th of November 2023 to 21st 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 Korea Gas price movement. The serial correlation of -0.71 indicates that around 71.0% of current Korea Gas price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.71 | |
| Spearman Rank Test | -0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 103 M |
Korea Gas lagged returns against current returns
Autocorrelation, which is Korea Gas 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 Gas' stock expected returns. We can calculate the autocorrelation of Korea Gas returns to help us make a trade decision. For example, suppose you find that Korea Gas 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 Gas 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 Gas stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Korea Gas stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Korea Gas stock over time.
Current vs Lagged Prices |
| Timeline |
Korea Gas Lagged Returns
When evaluating Korea Gas' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Korea Gas stock have on its future price. Korea Gas 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 Gas autocorrelation shows the relationship between Korea Gas stock current value and its past values and can show if there is a momentum factor associated with investing in Korea Gas.
Regressed Prices |
| Timeline |
Pair Trading with Korea Gas
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 Gas 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 Gas will appreciate offsetting losses from the drop in the long position's value.Moving together with Korea Stock
Moving against Korea Stock
The ability to find closely correlated positions to Korea Gas 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 Gas 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 Gas - 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 Gas to buy it.
The correlation of Korea Gas 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 Gas moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Korea Gas 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 Gas 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 Gas 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 Gas security.