Worldex Industry (Korea) Market Value
| 101160 Stock | KRW 16,450 80.00 0.48% |
| Symbol | Worldex |
Worldex Industry '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 Worldex Industry'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 Worldex Industry.
| 09/28/2024 |
| 12/27/2024 |
If you would invest 0.00 in Worldex Industry on September 28, 2024 and sell it all today you would earn a total of 0.00 from holding Worldex Industry Trading or generate 0.0% return on investment in Worldex Industry over 90 days. Worldex Industry is related to or competes with WONIK Materials, SS TECH, TES Co, and LEENO Industrial. Worldex Industry Trading Co., Ltd. manufactures semiconductor and display materials, and consumable parts in South Korea More
Worldex Industry 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 Worldex Industry'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 Worldex Industry Trading upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 9.79 | |||
| Value At Risk | (3.26) | |||
| Potential Upside | 3.08 |
Worldex Industry Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Worldex Industry's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Worldex Industry's standard deviation. In reality, there are many statistical measures that can use Worldex Industry historical prices to predict the future Worldex Industry's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.26) | |||
| Total Risk Alpha | (0.37) | |||
| Treynor Ratio | (11.60) |
Worldex Industry Trading Backtested Returns
Worldex Industry Trading shows Sharpe Ratio of -0.14, which attests that the company had a -0.14% return per unit of risk over the last 3 months. Worldex Industry Trading exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Worldex Industry's Standard Deviation of 2.1, market risk adjusted performance of (11.59), and Mean Deviation of 1.62 to validate the risk estimate we provide. The firm maintains a market beta of 0.0219, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Worldex Industry's returns are expected to increase less than the market. However, during the bear market, the loss of holding Worldex Industry is expected to be smaller as well. At this point, Worldex Industry Trading has a negative expected return of -0.29%. Please make sure to check out Worldex Industry's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Worldex Industry Trading performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.60 |
Good predictability
Worldex Industry Trading has good predictability. Overlapping area represents the amount of predictability between Worldex Industry time series from 28th of September 2024 to 12th of November 2024 and 12th of November 2024 to 27th of December 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 Worldex Industry Trading price movement. The serial correlation of 0.6 indicates that roughly 60.0% of current Worldex Industry price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.6 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 437.8 K |
Worldex Industry Trading lagged returns against current returns
Autocorrelation, which is Worldex Industry 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 Worldex Industry's stock expected returns. We can calculate the autocorrelation of Worldex Industry returns to help us make a trade decision. For example, suppose you find that Worldex Industry 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 |
Worldex Industry 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 Worldex Industry stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Worldex Industry stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Worldex Industry stock over time.
Current vs Lagged Prices |
| Timeline |
Worldex Industry Lagged Returns
When evaluating Worldex Industry's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Worldex Industry stock have on its future price. Worldex Industry 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, Worldex Industry autocorrelation shows the relationship between Worldex Industry stock current value and its past values and can show if there is a momentum factor associated with investing in Worldex Industry Trading.
Regressed Prices |
| Timeline |
Pair Trading with Worldex Industry
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 Worldex Industry 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 Worldex Industry will appreciate offsetting losses from the drop in the long position's value.Moving together with Worldex Stock
| 0.83 | 005930 | Samsung Electronics | PairCorr |
| 0.77 | 005935 | Samsung Electronics | PairCorr |
| 0.94 | 034730 | SK Holdings | PairCorr |
| 0.93 | 005490 | POSCO Holdings | PairCorr |
Moving against Worldex Stock
| 0.84 | 032640 | LG Uplus | PairCorr |
| 0.83 | 122870 | YG Entertainment | PairCorr |
| 0.74 | 078160 | MEDIPOST | PairCorr |
| 0.6 | 241840 | ASTORY CoLtd | PairCorr |
| 0.57 | 065660 | AnterogenCoLtd | PairCorr |
The ability to find closely correlated positions to Worldex Industry could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Worldex Industry 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 Worldex Industry - 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 Worldex Industry Trading to buy it.
The correlation of Worldex Industry 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 Worldex Industry moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Worldex Industry Trading 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 Worldex Industry 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 Worldex Stock
Worldex Industry financial ratios help investors to determine whether Worldex 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 Worldex with respect to the benefits of owning Worldex Industry security.