High Tech (Korea) Market Value
| 106190 Stock | KRW 14,300 150.00 1.06% |
| Symbol | High |
High Tech '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 High Tech'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 High Tech.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in High Tech on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding High Tech Pharm or generate 0.0% return on investment in High Tech over 30 days. High Tech is related to or competes with Kolon Life, Aminologics CoLtd, Withuspharmaceutical, and . High Tech Pharm Co., Ltd. develops, manufactures, sells, and distributes antibiotic pharmaceutical ingredients for injections for hospitals and doctors. More
High Tech 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 High Tech'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 High Tech Pharm upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 11.21 | |||
| Value At Risk | (4.91) | |||
| Potential Upside | 4.35 |
High Tech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for High Tech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as High Tech's standard deviation. In reality, there are many statistical measures that can use High Tech historical prices to predict the future High Tech's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.64) | |||
| Treynor Ratio | 0.4507 |
High Tech Pharm Backtested Returns
At this point, High Tech is very steady. High Tech Pharm holds Efficiency (Sharpe) Ratio of 0.0061, which attests that the entity had a 0.0061% return per unit of risk over the last 3 months. We have found twenty-three technical indicators for High Tech Pharm, which you can use to evaluate the volatility of the firm. Please check out High Tech's Market Risk Adjusted Performance of 0.4607, standard deviation of 2.7, and Risk Adjusted Performance of (0.05) to validate if the risk estimate we provide is consistent with the expected return of 0.0157%. The company retains a Market Volatility (i.e., Beta) of -0.49, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning High Tech are expected to decrease at a much lower rate. During the bear market, High Tech is likely to outperform the market. High Tech Pharm right now retains a risk of 2.56%. Please check out High Tech coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if High Tech will be following its current trending patterns.
Auto-correlation | 0.00 |
No correlation between past and present
High Tech Pharm has no correlation between past and present. Overlapping area represents the amount of predictability between High Tech time series from 28th of October 2024 to 12th of November 2024 and 12th of November 2024 to 27th 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 High Tech Pharm price movement. The serial correlation of 0.0 indicates that just 0.0% of current High Tech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 280.2 K |
High Tech Pharm lagged returns against current returns
Autocorrelation, which is High Tech 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 High Tech's stock expected returns. We can calculate the autocorrelation of High Tech returns to help us make a trade decision. For example, suppose you find that High Tech 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 |
High Tech 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 High Tech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if High Tech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in High Tech stock over time.
Current vs Lagged Prices |
| Timeline |
High Tech Lagged Returns
When evaluating High Tech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of High Tech stock have on its future price. High Tech 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, High Tech autocorrelation shows the relationship between High Tech stock current value and its past values and can show if there is a momentum factor associated with investing in High Tech Pharm.
Regressed Prices |
| Timeline |
Pair Trading with High Tech
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 High Tech 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 High Tech will appreciate offsetting losses from the drop in the long position's value.Moving against High Stock
| 0.7 | 336570 | Daishin Balance No8 | PairCorr |
| 0.46 | 030350 | Dragonfly GF Split | PairCorr |
| 0.45 | 047920 | HLB Pharmaceutical | PairCorr |
| 0.37 | 254120 | Xavis | PairCorr |
| 0.35 | 034830 | Korea Real Estate | PairCorr |
The ability to find closely correlated positions to High Tech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace High Tech 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 High Tech - 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 High Tech Pharm to buy it.
The correlation of High Tech 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 High Tech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if High Tech Pharm 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 High Tech 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 High Stock
High Tech financial ratios help investors to determine whether High 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 High with respect to the benefits of owning High Tech security.