Orbitech (Korea) Market Value
| 046120 Stock | KRW 2,315 110.00 4.54% |
| Symbol | Orbitech |
Orbitech '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 Orbitech'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 Orbitech.
| 06/02/2024 |
| 11/29/2024 |
If you would invest 0.00 in Orbitech on June 2, 2024 and sell it all today you would earn a total of 0.00 from holding Orbitech Co or generate 0.0% return on investment in Orbitech over 180 days. Orbitech is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. Orbitech Co., Ltd. provides non destructive testing services in South Korea More
Orbitech 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 Orbitech'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 Orbitech Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.76 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 14.11 | |||
| Value At Risk | (3.24) | |||
| Potential Upside | 4.47 |
Orbitech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Orbitech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Orbitech's standard deviation. In reality, there are many statistical measures that can use Orbitech historical prices to predict the future Orbitech's volatility.| Risk Adjusted Performance | 0.0196 | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.36) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0729 |
Orbitech Backtested Returns
At this point, Orbitech is very steady. Orbitech maintains Sharpe Ratio (i.e., Efficiency) of 0.0212, which implies the firm had a 0.0212% return per unit of risk over the last 3 months. We have found thirty technical indicators for Orbitech, which you can use to evaluate the volatility of the company. Please check Orbitech's Coefficient Of Variation of 6119.66, risk adjusted performance of 0.0196, and Semi Deviation of 2.48 to confirm if the risk estimate we provide is consistent with the expected return of 0.057%. Orbitech has a performance score of 1 on a scale of 0 to 100. The company holds a Beta of 0.44, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Orbitech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Orbitech is expected to be smaller as well. Orbitech right now holds a risk of 2.69%. Please check Orbitech market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if Orbitech will be following its historical price patterns.
Auto-correlation | -0.03 |
Very weak reverse predictability
Orbitech Co has very weak reverse predictability. Overlapping area represents the amount of predictability between Orbitech time series from 2nd of June 2024 to 31st of August 2024 and 31st of August 2024 to 29th 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 Orbitech price movement. The serial correlation of -0.03 indicates that only 3.0% of current Orbitech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.03 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 6367.84 |
Orbitech lagged returns against current returns
Autocorrelation, which is Orbitech 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 Orbitech's stock expected returns. We can calculate the autocorrelation of Orbitech returns to help us make a trade decision. For example, suppose you find that Orbitech 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 |
Orbitech 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 Orbitech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Orbitech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Orbitech stock over time.
Current vs Lagged Prices |
| Timeline |
Orbitech Lagged Returns
When evaluating Orbitech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Orbitech stock have on its future price. Orbitech 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, Orbitech autocorrelation shows the relationship between Orbitech stock current value and its past values and can show if there is a momentum factor associated with investing in Orbitech Co.
Regressed Prices |
| Timeline |
Pair Trading with Orbitech
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 Orbitech 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 Orbitech will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Orbitech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orbitech 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 Orbitech - 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 Orbitech Co to buy it.
The correlation of Orbitech 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 Orbitech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orbitech 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 Orbitech 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 Orbitech Stock
Orbitech financial ratios help investors to determine whether Orbitech 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 Orbitech with respect to the benefits of owning Orbitech security.