Finetechnix CoLtd (Korea) Market Value
| 106240 Stock | KRW 914.00 2.00 0.22% |
| Symbol | Finetechnix |
Finetechnix CoLtd '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 Finetechnix CoLtd'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 Finetechnix CoLtd.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Finetechnix CoLtd on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Finetechnix CoLtd or generate 0.0% return on investment in Finetechnix CoLtd over 30 days. Finetechnix CoLtd is related to or competes with Korea Real, Korea Ratings, IQuest, and Wonbang Tech. ,Ltd. develops, manufactures, and sells LED lighting products in Korea More
Finetechnix CoLtd 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 Finetechnix CoLtd'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 Finetechnix CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 10.98 | |||
| Value At Risk | (3.31) | |||
| Potential Upside | 2.58 |
Finetechnix CoLtd Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Finetechnix CoLtd's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Finetechnix CoLtd's standard deviation. In reality, there are many statistical measures that can use Finetechnix CoLtd historical prices to predict the future Finetechnix CoLtd's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.32) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | (1.38) |
Finetechnix CoLtd Backtested Returns
Finetechnix CoLtd secures Sharpe Ratio (or Efficiency) of -0.19, which denotes the company had a -0.19% return per unit of risk over the last 3 months. Finetechnix CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Finetechnix CoLtd's Variance of 3.21, standard deviation of 1.79, and Mean Deviation of 1.31 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.21, which means not very significant fluctuations relative to the market. As returns on the market increase, Finetechnix CoLtd's returns are expected to increase less than the market. However, during the bear market, the loss of holding Finetechnix CoLtd is expected to be smaller as well. At this point, Finetechnix CoLtd has a negative expected return of -0.34%. Please make sure to confirm Finetechnix CoLtd's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Finetechnix CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.06 |
Very weak reverse predictability
Finetechnix CoLtd has very weak reverse predictability. Overlapping area represents the amount of predictability between Finetechnix CoLtd time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 Finetechnix CoLtd price movement. The serial correlation of -0.06 indicates that barely 6.0% of current Finetechnix CoLtd price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.06 | |
| Spearman Rank Test | -0.17 | |
| Residual Average | 0.0 | |
| Price Variance | 966.61 |
Finetechnix CoLtd lagged returns against current returns
Autocorrelation, which is Finetechnix CoLtd 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 Finetechnix CoLtd's stock expected returns. We can calculate the autocorrelation of Finetechnix CoLtd returns to help us make a trade decision. For example, suppose you find that Finetechnix CoLtd 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 |
Finetechnix CoLtd 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 Finetechnix CoLtd stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Finetechnix CoLtd stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Finetechnix CoLtd stock over time.
Current vs Lagged Prices |
| Timeline |
Finetechnix CoLtd Lagged Returns
When evaluating Finetechnix CoLtd's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Finetechnix CoLtd stock have on its future price. Finetechnix CoLtd 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, Finetechnix CoLtd autocorrelation shows the relationship between Finetechnix CoLtd stock current value and its past values and can show if there is a momentum factor associated with investing in Finetechnix CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Finetechnix CoLtd
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 Finetechnix CoLtd 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 Finetechnix CoLtd will appreciate offsetting losses from the drop in the long position's value.Moving together with Finetechnix Stock
The ability to find closely correlated positions to Finetechnix CoLtd could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Finetechnix CoLtd 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 Finetechnix CoLtd - 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 Finetechnix CoLtd to buy it.
The correlation of Finetechnix CoLtd 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 Finetechnix CoLtd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Finetechnix CoLtd 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 Finetechnix CoLtd 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 Finetechnix Stock
Finetechnix CoLtd financial ratios help investors to determine whether Finetechnix 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 Finetechnix with respect to the benefits of owning Finetechnix CoLtd security.