Sungdo Engineering (Korea) Market Value
| 037350 Stock | 4,300 40.00 0.92% |
| Symbol | Sungdo |
Sungdo Engineering '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 Sungdo Engineering'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 Sungdo Engineering.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Sungdo Engineering on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Sungdo Engineering Construction or generate 0.0% return on investment in Sungdo Engineering over 30 days. Sungdo Engineering is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. Sungdo Engineering Construction Co., Ltd. More
Sungdo Engineering 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 Sungdo Engineering'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 Sungdo Engineering Construction upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 13.37 | |||
| Value At Risk | (3.43) | |||
| Potential Upside | 4.06 |
Sungdo Engineering Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sungdo Engineering's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sungdo Engineering's standard deviation. In reality, there are many statistical measures that can use Sungdo Engineering historical prices to predict the future Sungdo Engineering's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.48) | |||
| Total Risk Alpha | (0.83) | |||
| Treynor Ratio | (1.03) |
Sungdo Engineering Backtested Returns
Sungdo Engineering owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.12, which indicates the firm had a -0.12% return per unit of risk over the last 3 months. Sungdo Engineering Construction exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sungdo Engineering's Coefficient Of Variation of (567.97), risk adjusted performance of (0.13), and Variance of 5.67 to confirm the risk estimate we provide. The entity has a beta of 0.42, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Sungdo Engineering's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sungdo Engineering is expected to be smaller as well. At this point, Sungdo Engineering has a negative expected return of -0.3%. Please make sure to validate Sungdo Engineering's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Sungdo Engineering performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.21 |
Weak predictability
Sungdo Engineering Construction has weak predictability. Overlapping area represents the amount of predictability between Sungdo Engineering time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 Sungdo Engineering price movement. The serial correlation of 0.21 indicates that over 21.0% of current Sungdo Engineering price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 10.1 K |
Sungdo Engineering lagged returns against current returns
Autocorrelation, which is Sungdo Engineering 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 Sungdo Engineering's stock expected returns. We can calculate the autocorrelation of Sungdo Engineering returns to help us make a trade decision. For example, suppose you find that Sungdo Engineering 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 |
Sungdo Engineering 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 Sungdo Engineering stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sungdo Engineering stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sungdo Engineering stock over time.
Current vs Lagged Prices |
| Timeline |
Sungdo Engineering Lagged Returns
When evaluating Sungdo Engineering's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sungdo Engineering stock have on its future price. Sungdo Engineering 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, Sungdo Engineering autocorrelation shows the relationship between Sungdo Engineering stock current value and its past values and can show if there is a momentum factor associated with investing in Sungdo Engineering Construction.
Regressed Prices |
| Timeline |
Pair Trading with Sungdo Engineering
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 Sungdo Engineering 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 Sungdo Engineering will appreciate offsetting losses from the drop in the long position's value.Moving together with Sungdo Stock
Moving against Sungdo Stock
| 0.7 | 032830 | Samsung Life | PairCorr |
| 0.69 | 024110 | Industrial Bank | PairCorr |
| 0.6 | 105560 | KB Financial Group | PairCorr |
| 0.42 | 316140 | Woori Financial Group | PairCorr |
The ability to find closely correlated positions to Sungdo Engineering could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sungdo Engineering 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 Sungdo Engineering - 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 Sungdo Engineering Construction to buy it.
The correlation of Sungdo Engineering 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 Sungdo Engineering moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sungdo Engineering 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 Sungdo Engineering 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 Sungdo Stock
Sungdo Engineering financial ratios help investors to determine whether Sungdo 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 Sungdo with respect to the benefits of owning Sungdo Engineering security.