Sungchang Autotech (Korea) Market Value
| 080470 Stock | KRW 3,815 35.00 0.93% |
| Symbol | Sungchang |
Sungchang Autotech '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 Sungchang Autotech'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 Sungchang Autotech.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Sungchang Autotech on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Sungchang Autotech Co or generate 0.0% return on investment in Sungchang Autotech over 510 days. Sungchang Autotech is related to or competes with Busan Industrial, UNISEM, Finebesteel, Fine Besteel, Hyundai Heavy, and Hanwha Aerospace. Sungchang Autotech Co., Ltd. manufactures and sells automotive parts in South Korea More
Sungchang Autotech 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 Sungchang Autotech'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 Sungchang Autotech Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 18.65 | |||
| Value At Risk | (4.09) | |||
| Potential Upside | 4.05 |
Sungchang Autotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sungchang Autotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sungchang Autotech's standard deviation. In reality, there are many statistical measures that can use Sungchang Autotech historical prices to predict the future Sungchang Autotech's volatility.| Risk Adjusted Performance | 0.0055 | |||
| Jensen Alpha | (0.04) | |||
| Total Risk Alpha | (0.43) | |||
| Treynor Ratio | (0.08) |
Sungchang Autotech Backtested Returns
Sungchang Autotech owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.0521, which indicates the firm had a -0.0521% return per unit of risk over the last 3 months. Sungchang Autotech Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sungchang Autotech's Coefficient Of Variation of (48,005), variance of 7.14, and Risk Adjusted Performance of 0.0055 to confirm the risk estimate we provide. The entity has a beta of 0.18, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sungchang Autotech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sungchang Autotech is expected to be smaller as well. At this point, Sungchang Autotech has a negative expected return of -0.13%. Please make sure to validate Sungchang Autotech's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Sungchang Autotech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.59 |
Modest predictability
Sungchang Autotech Co has modest predictability. Overlapping area represents the amount of predictability between Sungchang Autotech 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 Sungchang Autotech price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current Sungchang Autotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.43 | |
| Residual Average | 0.0 | |
| Price Variance | 89.3 K |
Sungchang Autotech lagged returns against current returns
Autocorrelation, which is Sungchang Autotech 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 Sungchang Autotech's stock expected returns. We can calculate the autocorrelation of Sungchang Autotech returns to help us make a trade decision. For example, suppose you find that Sungchang Autotech 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 |
Sungchang Autotech 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 Sungchang Autotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sungchang Autotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sungchang Autotech stock over time.
Current vs Lagged Prices |
| Timeline |
Sungchang Autotech Lagged Returns
When evaluating Sungchang Autotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sungchang Autotech stock have on its future price. Sungchang Autotech 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, Sungchang Autotech autocorrelation shows the relationship between Sungchang Autotech stock current value and its past values and can show if there is a momentum factor associated with investing in Sungchang Autotech Co.
Regressed Prices |
| Timeline |
Pair Trading with Sungchang Autotech
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 Sungchang Autotech 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 Sungchang Autotech will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Sungchang Autotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sungchang Autotech 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 Sungchang Autotech - 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 Sungchang Autotech Co to buy it.
The correlation of Sungchang Autotech 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 Sungchang Autotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sungchang Autotech 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 Sungchang Autotech 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 Sungchang Stock
Sungchang Autotech financial ratios help investors to determine whether Sungchang 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 Sungchang with respect to the benefits of owning Sungchang Autotech security.