LEENO Industrial (Korea) Market Value
| 058470 Stock | KRW 157,200 3,900 2.42% |
| Symbol | LEENO |
LEENO Industrial '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 LEENO Industrial'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 LEENO Industrial.
| 05/31/2024 |
| 11/27/2024 |
If you would invest 0.00 in LEENO Industrial on May 31, 2024 and sell it all today you would earn a total of 0.00 from holding LEENO Industrial or generate 0.0% return on investment in LEENO Industrial over 180 days. LEENO Industrial is related to or competes with Daou Data, Busan Industrial, Finebesteel, Shinhan Inverse, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. LEENO Industrial Inc. manufactures and sells critical testing components for IC production, test, and analysis worldwide More
LEENO Industrial 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 LEENO Industrial'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 LEENO Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 12.7 | |||
| Value At Risk | (5.03) | |||
| Potential Upside | 5.11 |
LEENO Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for LEENO Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as LEENO Industrial's standard deviation. In reality, there are many statistical measures that can use LEENO Industrial historical prices to predict the future LEENO Industrial's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.33) | |||
| Total Risk Alpha | (0.82) | |||
| Treynor Ratio | 1.23 |
LEENO Industrial Backtested Returns
LEENO Industrial has Sharpe Ratio of -0.11, which conveys that the firm had a -0.11% return per unit of risk over the last 3 months. LEENO Industrial exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify LEENO Industrial's risk adjusted performance of (0.09), and Mean Deviation of 2.29 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.3, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning LEENO Industrial are expected to decrease at a much lower rate. During the bear market, LEENO Industrial is likely to outperform the market. At this point, LEENO Industrial has a negative expected return of -0.31%. Please make sure to verify LEENO Industrial's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if LEENO Industrial performance from the past will be repeated in the future.
Auto-correlation | 0.46 |
Average predictability
LEENO Industrial has average predictability. Overlapping area represents the amount of predictability between LEENO Industrial time series from 31st of May 2024 to 29th of August 2024 and 29th of August 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 LEENO Industrial price movement. The serial correlation of 0.46 indicates that about 46.0% of current LEENO Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.46 | |
| Spearman Rank Test | 0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 213.7 M |
LEENO Industrial lagged returns against current returns
Autocorrelation, which is LEENO Industrial 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 LEENO Industrial's stock expected returns. We can calculate the autocorrelation of LEENO Industrial returns to help us make a trade decision. For example, suppose you find that LEENO Industrial 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 |
LEENO Industrial 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 LEENO Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if LEENO Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in LEENO Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
LEENO Industrial Lagged Returns
When evaluating LEENO Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of LEENO Industrial stock have on its future price. LEENO Industrial 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, LEENO Industrial autocorrelation shows the relationship between LEENO Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in LEENO Industrial.
Regressed Prices |
| Timeline |
Pair Trading with LEENO Industrial
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 LEENO Industrial 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 LEENO Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with LEENO Stock
| 0.92 | 123040 | MS Autotech CoLtd | PairCorr |
| 0.92 | 012860 | Mobase Electronics CoLtd | PairCorr |
| 0.84 | 012700 | LEADCORP | PairCorr |
| 0.8 | 024910 | Kyung Chang Industrial | PairCorr |
| 0.93 | 027710 | FarmStory | PairCorr |
The ability to find closely correlated positions to LEENO Industrial could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace LEENO Industrial 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 LEENO Industrial - 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 LEENO Industrial to buy it.
The correlation of LEENO Industrial 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 LEENO Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if LEENO Industrial 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 LEENO Industrial 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 LEENO Stock
LEENO Industrial financial ratios help investors to determine whether LEENO 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 LEENO with respect to the benefits of owning LEENO Industrial security.