Homecast CoLtd (Korea) Market Value
| 064240 Stock | KRW 2,620 10.00 0.38% |
| Symbol | Homecast |
Homecast 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 Homecast 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 Homecast CoLtd.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Homecast CoLtd on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Homecast CoLtd or generate 0.0% return on investment in Homecast CoLtd over 510 days. Homecast CoLtd is related to or competes with Ssangyong Materials, MetaLabs, Kbi Metal, Seoyon Topmetal, and Phoenix Materials. ,Ltd. develops, manufactures, and sells digital set-top boxes in Korea and internationally More
Homecast 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 Homecast 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 Homecast CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 13.74 | |||
| Value At Risk | (4.39) | |||
| Potential Upside | 2.92 |
Homecast CoLtd Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Homecast CoLtd's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Homecast CoLtd's standard deviation. In reality, there are many statistical measures that can use Homecast CoLtd historical prices to predict the future Homecast CoLtd's volatility.| Risk Adjusted Performance | (0.1) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.76) | |||
| Treynor Ratio | 0.746 |
Homecast CoLtd Backtested Returns
Homecast CoLtd holds Efficiency (Sharpe) Ratio of -0.0764, which attests that the entity had a -0.0764% return per unit of risk over the last 3 months. Homecast CoLtd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Homecast CoLtd's Market Risk Adjusted Performance of 0.756, risk adjusted performance of (0.1), and Standard Deviation of 2.55 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.49, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Homecast CoLtd are expected to decrease at a much lower rate. During the bear market, Homecast CoLtd is likely to outperform the market. At this point, Homecast CoLtd has a negative expected return of -0.2%. Please make sure to check out Homecast CoLtd's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Homecast CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.06 |
Virtually no predictability
Homecast CoLtd has virtually no predictability. Overlapping area represents the amount of predictability between Homecast CoLtd time series from 5th of July 2023 to 16th of March 2024 and 16th of March 2024 to 26th 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 Homecast CoLtd price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Homecast CoLtd price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.04 | |
| Residual Average | 0.0 | |
| Price Variance | 45.8 K |
Homecast CoLtd lagged returns against current returns
Autocorrelation, which is Homecast 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 Homecast CoLtd's stock expected returns. We can calculate the autocorrelation of Homecast CoLtd returns to help us make a trade decision. For example, suppose you find that Homecast 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 |
Homecast 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 Homecast CoLtd stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Homecast CoLtd stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Homecast CoLtd stock over time.
Current vs Lagged Prices |
| Timeline |
Homecast CoLtd Lagged Returns
When evaluating Homecast CoLtd's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Homecast CoLtd stock have on its future price. Homecast 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, Homecast CoLtd autocorrelation shows the relationship between Homecast CoLtd stock current value and its past values and can show if there is a momentum factor associated with investing in Homecast CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Homecast 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 Homecast 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 Homecast CoLtd will appreciate offsetting losses from the drop in the long position's value.Moving together with Homecast Stock
The ability to find closely correlated positions to Homecast 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 Homecast 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 Homecast 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 Homecast CoLtd to buy it.
The correlation of Homecast 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 Homecast CoLtd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Homecast 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 Homecast 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 Homecast Stock
Homecast CoLtd financial ratios help investors to determine whether Homecast 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 Homecast with respect to the benefits of owning Homecast CoLtd security.