ABOV Semiconductor (Korea) Market Value
| 102120 Stock | KRW 8,190 120.00 1.49% |
| Symbol | ABOV |
ABOV Semiconductor '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 ABOV Semiconductor'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 ABOV Semiconductor.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in ABOV Semiconductor on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding ABOV Semiconductor Co or generate 0.0% return on investment in ABOV Semiconductor over 180 days. ABOV Semiconductor is related to or competes with Korea Real, Korea Ratings, IQuest, and Wonbang Tech. ABOV Semiconductor Co., Ltd. designs, manufactures, and sells microcontrollers and logic devices in South Korea and inte... More
ABOV Semiconductor 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 ABOV Semiconductor'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 ABOV Semiconductor Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.29) | |||
| Maximum Drawdown | 12.36 | |||
| Value At Risk | (4.56) | |||
| Potential Upside | 3.95 |
ABOV Semiconductor Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ABOV Semiconductor's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ABOV Semiconductor's standard deviation. In reality, there are many statistical measures that can use ABOV Semiconductor historical prices to predict the future ABOV Semiconductor's volatility.| Risk Adjusted Performance | (0.18) | |||
| Jensen Alpha | (0.66) | |||
| Total Risk Alpha | (1.13) | |||
| Treynor Ratio | 2.9 |
ABOV Semiconductor Backtested Returns
ABOV Semiconductor secures Sharpe Ratio (or Efficiency) of -0.26, which signifies that the company had a -0.26% return per unit of risk over the last 3 months. ABOV Semiconductor Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ABOV Semiconductor's Coefficient Of Variation of (409.85), mean deviation of 2.28, and Variance of 7.72 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.24, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ABOV Semiconductor are expected to decrease at a much lower rate. During the bear market, ABOV Semiconductor is likely to outperform the market. At this point, ABOV Semiconductor has a negative expected return of -0.72%. Please make sure to confirm ABOV Semiconductor's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if ABOV Semiconductor performance from the past will be repeated in the future.
Auto-correlation | 0.24 |
Weak predictability
ABOV Semiconductor Co has weak predictability. Overlapping area represents the amount of predictability between ABOV Semiconductor time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd 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 ABOV Semiconductor price movement. The serial correlation of 0.24 indicates that over 24.0% of current ABOV Semiconductor price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.24 | |
| Spearman Rank Test | 0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 1.6 M |
ABOV Semiconductor lagged returns against current returns
Autocorrelation, which is ABOV Semiconductor 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 ABOV Semiconductor's stock expected returns. We can calculate the autocorrelation of ABOV Semiconductor returns to help us make a trade decision. For example, suppose you find that ABOV Semiconductor 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 |
ABOV Semiconductor 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 ABOV Semiconductor stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ABOV Semiconductor stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ABOV Semiconductor stock over time.
Current vs Lagged Prices |
| Timeline |
ABOV Semiconductor Lagged Returns
When evaluating ABOV Semiconductor's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ABOV Semiconductor stock have on its future price. ABOV Semiconductor 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, ABOV Semiconductor autocorrelation shows the relationship between ABOV Semiconductor stock current value and its past values and can show if there is a momentum factor associated with investing in ABOV Semiconductor Co.
Regressed Prices |
| Timeline |
Pair Trading with ABOV Semiconductor
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 ABOV Semiconductor 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 ABOV Semiconductor will appreciate offsetting losses from the drop in the long position's value.Moving together with ABOV Stock
The ability to find closely correlated positions to ABOV Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ABOV Semiconductor 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 ABOV Semiconductor - 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 ABOV Semiconductor Co to buy it.
The correlation of ABOV Semiconductor 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 ABOV Semiconductor moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ABOV Semiconductor 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 ABOV Semiconductor 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 ABOV Stock
ABOV Semiconductor financial ratios help investors to determine whether ABOV 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 ABOV with respect to the benefits of owning ABOV Semiconductor security.