NewFlex Technology (Korea) Market Value
| 085670 Stock | KRW 4,805 15.00 0.31% |
| Symbol | NewFlex |
NewFlex Technology '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 NewFlex Technology'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 NewFlex Technology.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in NewFlex Technology on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding NewFlex Technology Co or generate 0.0% return on investment in NewFlex Technology over 60 days. NewFlex Technology is related to or competes with Hanwha InvestmentSecuri, SBI Investment, Samyung Trading, Korea Air, Pureun Mutual, Woori Technology, and Daelim Trading. NewFlex Technology Co., Ltd. manufactures and sells flexible printed circuit boards in South Korea. More
NewFlex Technology 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 NewFlex Technology'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 NewFlex Technology Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.92 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 26.83 | |||
| Value At Risk | (4.63) | |||
| Potential Upside | 5.14 |
NewFlex Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NewFlex Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NewFlex Technology's standard deviation. In reality, there are many statistical measures that can use NewFlex Technology historical prices to predict the future NewFlex Technology's volatility.| Risk Adjusted Performance | 0.01 | |||
| Jensen Alpha | 0.0047 | |||
| Total Risk Alpha | (0.64) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | (0) |
NewFlex Technology Backtested Returns
At this point, NewFlex Technology is very steady. NewFlex Technology has Sharpe Ratio of 0.0056, which conveys that the firm had a 0.0056% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for NewFlex Technology, which you can use to evaluate the volatility of the firm. Please verify NewFlex Technology's Risk Adjusted Performance of 0.01, downside deviation of 2.92, and Mean Deviation of 2.69 to check out if the risk estimate we provide is consistent with the expected return of 0.0242%. The company secures a Beta (Market Risk) of -0.0386, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NewFlex Technology are expected to decrease at a much lower rate. During the bear market, NewFlex Technology is likely to outperform the market. NewFlex Technology right now secures a risk of 4.28%. Please verify NewFlex Technology Co sortino ratio, maximum drawdown, and the relationship between the total risk alpha and treynor ratio , to decide if NewFlex Technology Co will be following its current price movements.
Auto-correlation | 0.79 |
Good predictability
NewFlex Technology Co has good predictability. Overlapping area represents the amount of predictability between NewFlex Technology time series from 27th of September 2024 to 27th of October 2024 and 27th of October 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 NewFlex Technology price movement. The serial correlation of 0.79 indicates that around 79.0% of current NewFlex Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.79 | |
| Spearman Rank Test | 0.74 | |
| Residual Average | 0.0 | |
| Price Variance | 138.4 K |
NewFlex Technology lagged returns against current returns
Autocorrelation, which is NewFlex Technology 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 NewFlex Technology's stock expected returns. We can calculate the autocorrelation of NewFlex Technology returns to help us make a trade decision. For example, suppose you find that NewFlex Technology 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 |
NewFlex Technology 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 NewFlex Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NewFlex Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NewFlex Technology stock over time.
Current vs Lagged Prices |
| Timeline |
NewFlex Technology Lagged Returns
When evaluating NewFlex Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NewFlex Technology stock have on its future price. NewFlex Technology 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, NewFlex Technology autocorrelation shows the relationship between NewFlex Technology stock current value and its past values and can show if there is a momentum factor associated with investing in NewFlex Technology Co.
Regressed Prices |
| Timeline |
Pair Trading with NewFlex Technology
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 NewFlex Technology 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 NewFlex Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with NewFlex Stock
The ability to find closely correlated positions to NewFlex Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NewFlex Technology 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 NewFlex Technology - 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 NewFlex Technology Co to buy it.
The correlation of NewFlex Technology 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 NewFlex Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NewFlex Technology 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 NewFlex Technology 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 NewFlex Stock
NewFlex Technology financial ratios help investors to determine whether NewFlex 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 NewFlex with respect to the benefits of owning NewFlex Technology security.