Phoenix Materials (Korea) Market Value
| 050090 Stock | KRW 720.00 82.00 12.85% |
| Symbol | Phoenix |
Phoenix Materials '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 Phoenix Materials' 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 Phoenix Materials.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in Phoenix Materials on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding Phoenix Materials Co or generate 0.0% return on investment in Phoenix Materials over 90 days. Phoenix Materials is related to or competes with Daou Data, Busan Industrial, Finebesteel, Shinhan Inverse, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. Phoenix Materials Co., Ltd. is engaged in the manufacture and sale of materials and components for display, energy, LED lighting, and semiconductor applications in South Korea, Southeast Asia, China, Japan, and North America. More
Phoenix Materials 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 Phoenix Materials' 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 Phoenix Materials Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 14.21 | |||
| Value At Risk | (4.10) | |||
| Potential Upside | 3.48 |
Phoenix Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Phoenix Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Phoenix Materials' standard deviation. In reality, there are many statistical measures that can use Phoenix Materials historical prices to predict the future Phoenix Materials' volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.29) | |||
| Total Risk Alpha | (0.70) | |||
| Treynor Ratio | (0.60) |
Phoenix Materials Backtested Returns
Phoenix Materials maintains Sharpe Ratio (i.e., Efficiency) of -0.0837, which implies the firm had a -0.0837% return per unit of risk over the last 3 months. Phoenix Materials exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Phoenix Materials' Coefficient Of Variation of (1,222), risk adjusted performance of (0.06), and Variance of 8.29 to confirm the risk estimate we provide. The company holds a Beta of 0.41, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Phoenix Materials' returns are expected to increase less than the market. However, during the bear market, the loss of holding Phoenix Materials is expected to be smaller as well. At this point, Phoenix Materials has a negative expected return of -0.24%. Please make sure to check Phoenix Materials' total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Phoenix Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.22 |
Weak reverse predictability
Phoenix Materials Co has weak reverse predictability. Overlapping area represents the amount of predictability between Phoenix Materials time series from 29th of August 2024 to 13th of October 2024 and 13th of October 2024 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 Phoenix Materials price movement. The serial correlation of -0.22 indicates that over 22.0% of current Phoenix Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.22 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 1803.55 |
Phoenix Materials lagged returns against current returns
Autocorrelation, which is Phoenix Materials 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 Phoenix Materials' stock expected returns. We can calculate the autocorrelation of Phoenix Materials returns to help us make a trade decision. For example, suppose you find that Phoenix Materials 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 |
Phoenix Materials 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 Phoenix Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Phoenix Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Phoenix Materials stock over time.
Current vs Lagged Prices |
| Timeline |
Phoenix Materials Lagged Returns
When evaluating Phoenix Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Phoenix Materials stock have on its future price. Phoenix Materials 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, Phoenix Materials autocorrelation shows the relationship between Phoenix Materials stock current value and its past values and can show if there is a momentum factor associated with investing in Phoenix Materials Co.
Regressed Prices |
| Timeline |
Pair Trading with Phoenix Materials
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 Phoenix Materials 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 Phoenix Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with Phoenix Stock
| 0.93 | 123040 | MS Autotech CoLtd | PairCorr |
| 0.93 | 012860 | Mobase Electronics CoLtd | PairCorr |
| 0.9 | 012700 | LEADCORP | PairCorr |
| 0.76 | 024910 | Kyung Chang Industrial | PairCorr |
| 0.93 | 027710 | FarmStory | PairCorr |
The ability to find closely correlated positions to Phoenix Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Phoenix Materials 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 Phoenix Materials - 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 Phoenix Materials Co to buy it.
The correlation of Phoenix Materials 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 Phoenix Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Phoenix Materials 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 Phoenix Materials 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 Phoenix Stock
Phoenix Materials financial ratios help investors to determine whether Phoenix 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 Phoenix with respect to the benefits of owning Phoenix Materials security.