Ecoplastic (Korea) Market Value
| 038110 Stock | KRW 2,545 75.00 3.04% |
| Symbol | Ecoplastic |
Ecoplastic '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 Ecoplastic'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 Ecoplastic.
| 12/08/2022 |
| 11/27/2024 |
If you would invest 0.00 in Ecoplastic on December 8, 2022 and sell it all today you would earn a total of 0.00 from holding Ecoplastic or generate 0.0% return on investment in Ecoplastic over 720 days. Ecoplastic is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. Ecoplastic Corporation engages in the research, development, production, and sale of auto plastic parts in South Korea More
Ecoplastic 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 Ecoplastic'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 Ecoplastic upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 8.78 | |||
| Value At Risk | (3.31) | |||
| Potential Upside | 2.55 |
Ecoplastic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ecoplastic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ecoplastic's standard deviation. In reality, there are many statistical measures that can use Ecoplastic historical prices to predict the future Ecoplastic's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.71) | |||
| Treynor Ratio | 2.12 |
Ecoplastic Backtested Returns
Ecoplastic secures Sharpe Ratio (or Efficiency) of -0.21, which denotes the company had a -0.21% return per unit of risk over the last 3 months. Ecoplastic exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Ecoplastic's Variance of 3.32, standard deviation of 1.82, and Mean Deviation of 1.41 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.2, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Ecoplastic are expected to decrease at a much lower rate. During the bear market, Ecoplastic is likely to outperform the market. At this point, Ecoplastic has a negative expected return of -0.4%. Please make sure to confirm Ecoplastic's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Ecoplastic performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.27 |
Weak reverse predictability
Ecoplastic has weak reverse predictability. Overlapping area represents the amount of predictability between Ecoplastic time series from 8th of December 2022 to 3rd of December 2023 and 3rd of December 2023 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 Ecoplastic price movement. The serial correlation of -0.27 indicates that nearly 27.0% of current Ecoplastic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.27 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 689.8 K |
Ecoplastic lagged returns against current returns
Autocorrelation, which is Ecoplastic 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 Ecoplastic's stock expected returns. We can calculate the autocorrelation of Ecoplastic returns to help us make a trade decision. For example, suppose you find that Ecoplastic 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 |
Ecoplastic 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 Ecoplastic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ecoplastic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ecoplastic stock over time.
Current vs Lagged Prices |
| Timeline |
Ecoplastic Lagged Returns
When evaluating Ecoplastic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ecoplastic stock have on its future price. Ecoplastic 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, Ecoplastic autocorrelation shows the relationship between Ecoplastic stock current value and its past values and can show if there is a momentum factor associated with investing in Ecoplastic.
Regressed Prices |
| Timeline |
Pair Trading with Ecoplastic
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 Ecoplastic 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 Ecoplastic will appreciate offsetting losses from the drop in the long position's value.Moving together with Ecoplastic Stock
Moving against Ecoplastic Stock
The ability to find closely correlated positions to Ecoplastic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ecoplastic 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 Ecoplastic - 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 Ecoplastic to buy it.
The correlation of Ecoplastic 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 Ecoplastic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ecoplastic 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 Ecoplastic 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 Ecoplastic Stock
Ecoplastic financial ratios help investors to determine whether Ecoplastic 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 Ecoplastic with respect to the benefits of owning Ecoplastic security.