Hyunwoo Industrial (Korea) Market Value
| 092300 Stock | KRW 2,630 15.00 0.57% |
| Symbol | Hyunwoo |
Hyunwoo 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 Hyunwoo 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 Hyunwoo Industrial.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in Hyunwoo Industrial on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding Hyunwoo Industrial Co or generate 0.0% return on investment in Hyunwoo Industrial over 90 days. Hyunwoo Industrial is related to or competes with SK Hynix, People Technology, SIMMTECH, Haesung DS, and SS TECH. Hyunwoo Industrial Co., LTD develops and manufactures PCBs in Taiwan More
Hyunwoo 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 Hyunwoo 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 Hyunwoo Industrial Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 11.28 | |||
| Value At Risk | (3.89) | |||
| Potential Upside | 2.66 |
Hyunwoo Industrial Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Hyunwoo Industrial's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Hyunwoo Industrial's standard deviation. In reality, there are many statistical measures that can use Hyunwoo Industrial historical prices to predict the future Hyunwoo Industrial's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.33) | |||
| Total Risk Alpha | (0.63) | |||
| Treynor Ratio | 8.91 |
Hyunwoo Industrial Backtested Returns
Hyunwoo Industrial holds Efficiency (Sharpe) Ratio of -0.14, which attests that the entity had a -0.14% return per unit of risk over the last 3 months. Hyunwoo Industrial exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Hyunwoo Industrial's Risk Adjusted Performance of (0.12), standard deviation of 1.91, and Market Risk Adjusted Performance of 8.92 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0373, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Hyunwoo Industrial are expected to decrease at a much lower rate. During the bear market, Hyunwoo Industrial is likely to outperform the market. At this point, Hyunwoo Industrial has a negative expected return of -0.26%. Please make sure to check out Hyunwoo Industrial's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Hyunwoo Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.17 |
Insignificant reverse predictability
Hyunwoo Industrial Co has insignificant reverse predictability. Overlapping area represents the amount of predictability between Hyunwoo Industrial time series from 28th of August 2024 to 12th of October 2024 and 12th 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 Hyunwoo Industrial price movement. The serial correlation of -0.17 indicates that over 17.0% of current Hyunwoo Industrial price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.17 | |
| Spearman Rank Test | -0.2 | |
| Residual Average | 0.0 | |
| Price Variance | 29.9 K |
Hyunwoo Industrial lagged returns against current returns
Autocorrelation, which is Hyunwoo 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 Hyunwoo Industrial's stock expected returns. We can calculate the autocorrelation of Hyunwoo Industrial returns to help us make a trade decision. For example, suppose you find that Hyunwoo 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 |
Hyunwoo 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 Hyunwoo Industrial stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Hyunwoo Industrial stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Hyunwoo Industrial stock over time.
Current vs Lagged Prices |
| Timeline |
Hyunwoo Industrial Lagged Returns
When evaluating Hyunwoo Industrial's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Hyunwoo Industrial stock have on its future price. Hyunwoo 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, Hyunwoo Industrial autocorrelation shows the relationship between Hyunwoo Industrial stock current value and its past values and can show if there is a momentum factor associated with investing in Hyunwoo Industrial Co.
Regressed Prices |
| Timeline |
Pair Trading with Hyunwoo 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 Hyunwoo 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 Hyunwoo Industrial will appreciate offsetting losses from the drop in the long position's value.Moving together with Hyunwoo Stock
| 0.83 | 108320 | LX Semicon | PairCorr |
| 0.92 | 064760 | Tokai Carbon Korea | PairCorr |
| 0.79 | 137400 | People Technology | PairCorr |
| 0.88 | 166090 | Hana Materials | PairCorr |
Moving against Hyunwoo Stock
The ability to find closely correlated positions to Hyunwoo 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 Hyunwoo 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 Hyunwoo 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 Hyunwoo Industrial Co to buy it.
The correlation of Hyunwoo 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 Hyunwoo Industrial moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hyunwoo 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 Hyunwoo 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 Hyunwoo Stock
Hyunwoo Industrial financial ratios help investors to determine whether Hyunwoo 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 Hyunwoo with respect to the benefits of owning Hyunwoo Industrial security.