Taewoong CoLtd (Korea) Market Value
| 044490 Stock | KRW 10,420 360.00 3.34% |
| Symbol | Taewoong |
Taewoong CoLtd '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 Taewoong CoLtd'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 Taewoong CoLtd.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Taewoong CoLtd on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Taewoong CoLtd or generate 0.0% return on investment in Taewoong CoLtd over 30 days. Taewoong CoLtd is related to or competes with Samsung Electronics, Samsung Electronics, LG Energy, SK Hynix, Samsung Biologics, LG Chem, and LG Chemicals. ,Ltd manufactures and sells open-die forgings and ring rolled products in South Korea and internationally More
Taewoong CoLtd 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 Taewoong CoLtd'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 Taewoong CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 24.84 | |||
| Value At Risk | (4.39) | |||
| Potential Upside | 5.87 |
Taewoong CoLtd Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taewoong CoLtd's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taewoong CoLtd's standard deviation. In reality, there are many statistical measures that can use Taewoong CoLtd historical prices to predict the future Taewoong CoLtd's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (1.02) | |||
| Treynor Ratio | (0.42) |
Taewoong CoLtd Backtested Returns
Taewoong CoLtd owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.11, which indicates the firm had a -0.11% return per unit of risk over the last 3 months. Taewoong CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Taewoong CoLtd's Coefficient Of Variation of (934.28), variance of 13.48, and Risk Adjusted Performance of (0.07) to confirm the risk estimate we provide. The entity has a beta of 0.96, which indicates possible diversification benefits within a given portfolio. Taewoong CoLtd returns are very sensitive to returns on the market. As the market goes up or down, Taewoong CoLtd is expected to follow. At this point, Taewoong CoLtd has a negative expected return of -0.43%. Please make sure to validate Taewoong CoLtd's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Taewoong CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.26 |
Poor predictability
Taewoong CoLtd has poor predictability. Overlapping area represents the amount of predictability between Taewoong CoLtd 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 Taewoong CoLtd price movement. The serial correlation of 0.26 indicates that nearly 26.0% of current Taewoong CoLtd price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.26 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 165.1 K |
Taewoong CoLtd lagged returns against current returns
Autocorrelation, which is Taewoong CoLtd 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 Taewoong CoLtd's stock expected returns. We can calculate the autocorrelation of Taewoong CoLtd returns to help us make a trade decision. For example, suppose you find that Taewoong CoLtd 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 |
Taewoong CoLtd 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 Taewoong CoLtd stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taewoong CoLtd stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taewoong CoLtd stock over time.
Current vs Lagged Prices |
| Timeline |
Taewoong CoLtd Lagged Returns
When evaluating Taewoong CoLtd's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taewoong CoLtd stock have on its future price. Taewoong CoLtd 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, Taewoong CoLtd autocorrelation shows the relationship between Taewoong CoLtd stock current value and its past values and can show if there is a momentum factor associated with investing in Taewoong CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Taewoong CoLtd
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 Taewoong CoLtd 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 Taewoong CoLtd will appreciate offsetting losses from the drop in the long position's value.Moving together with Taewoong Stock
The ability to find closely correlated positions to Taewoong CoLtd could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taewoong CoLtd 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 Taewoong CoLtd - 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 Taewoong CoLtd to buy it.
The correlation of Taewoong CoLtd 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 Taewoong CoLtd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taewoong CoLtd 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 Taewoong CoLtd 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 Taewoong Stock
Taewoong CoLtd financial ratios help investors to determine whether Taewoong 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 Taewoong with respect to the benefits of owning Taewoong CoLtd security.