Youngchang Chemical (Korea) Market Value
| 112290 Stock | 14,040 40.00 0.29% |
| Symbol | Youngchang |
Youngchang Chemical '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 Youngchang Chemical'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 Youngchang Chemical.
| 05/30/2024 |
| 11/26/2024 |
If you would invest 0.00 in Youngchang Chemical on May 30, 2024 and sell it all today you would earn a total of 0.00 from holding Youngchang Chemical Co or generate 0.0% return on investment in Youngchang Chemical over 180 days. Youngchang Chemical is related to or competes with Dongbu Steel, Ni Steel, Sungchang Autotech, Samhyun Steel, Moonbae Steel, Daehan Steel, and Hanil Iron. More
Youngchang Chemical 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 Youngchang Chemical'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 Youngchang Chemical Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.06) | |||
| Maximum Drawdown | 28.07 | |||
| Value At Risk | (5.37) | |||
| Potential Upside | 6.64 |
Youngchang Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Youngchang Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Youngchang Chemical's standard deviation. In reality, there are many statistical measures that can use Youngchang Chemical historical prices to predict the future Youngchang Chemical's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.88) | |||
| Treynor Ratio | (0.20) |
Youngchang Chemical Backtested Returns
Youngchang Chemical shows Sharpe Ratio of -0.0212, which attests that the company had a -0.0212% return per unit of risk over the last 3 months. Youngchang Chemical exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Youngchang Chemical's Mean Deviation of 3.32, market risk adjusted performance of (0.19), and Standard Deviation of 4.57 to validate the risk estimate we provide. The firm maintains a market beta of 0.83, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Youngchang Chemical's returns are expected to increase less than the market. However, during the bear market, the loss of holding Youngchang Chemical is expected to be smaller as well. At this point, Youngchang Chemical has a negative expected return of -0.1%. Please make sure to check out Youngchang Chemical's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Youngchang Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.50 |
Modest predictability
Youngchang Chemical Co has modest predictability. Overlapping area represents the amount of predictability between Youngchang Chemical time series from 30th of May 2024 to 28th of August 2024 and 28th of August 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 Youngchang Chemical price movement. The serial correlation of 0.5 indicates that about 50.0% of current Youngchang Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.5 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 4.3 M |
Youngchang Chemical lagged returns against current returns
Autocorrelation, which is Youngchang Chemical 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 Youngchang Chemical's stock expected returns. We can calculate the autocorrelation of Youngchang Chemical returns to help us make a trade decision. For example, suppose you find that Youngchang Chemical 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 |
Youngchang Chemical 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 Youngchang Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Youngchang Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Youngchang Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Youngchang Chemical Lagged Returns
When evaluating Youngchang Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Youngchang Chemical stock have on its future price. Youngchang Chemical 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, Youngchang Chemical autocorrelation shows the relationship between Youngchang Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Youngchang Chemical Co.
Regressed Prices |
| Timeline |
Pair Trading with Youngchang Chemical
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 Youngchang Chemical 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 Youngchang Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Youngchang Stock
| 0.75 | 051915 | LG Chem | PairCorr |
| 0.72 | 278280 | Chunbo | PairCorr |
| 0.66 | 298000 | Hyosung Chemical Corp | PairCorr |
| 0.68 | 220260 | LIG ES SPAC | PairCorr |
The ability to find closely correlated positions to Youngchang Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Youngchang Chemical 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 Youngchang Chemical - 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 Youngchang Chemical Co to buy it.
The correlation of Youngchang Chemical 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 Youngchang Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Youngchang Chemical 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 Youngchang Chemical 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 Youngchang Stock
Youngchang Chemical financial ratios help investors to determine whether Youngchang 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 Youngchang with respect to the benefits of owning Youngchang Chemical security.