WooriNet (Korea) Market Value
| 115440 Stock | KRW 6,900 10.00 0.15% |
| Symbol | WooriNet |
WooriNet '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 WooriNet'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 WooriNet.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in WooriNet on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding WooriNet or generate 0.0% return on investment in WooriNet over 30 days. WooriNet is related to or competes with Ubiquoss Holdings, Asia Pacific, and Mercury. WooriNet, Inc. designs, manufactures, and supplies fiber optics transmission and wireline access network systems to tele... More
WooriNet 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 WooriNet'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 WooriNet upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 24.54 | |||
| Value At Risk | (3.95) | |||
| Potential Upside | 4.6 |
WooriNet Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WooriNet's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WooriNet's standard deviation. In reality, there are many statistical measures that can use WooriNet historical prices to predict the future WooriNet's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.65) | |||
| Treynor Ratio | (0.22) |
WooriNet Backtested Returns
WooriNet shows Sharpe Ratio of -0.0059, which attests that the company had a -0.0059% return per unit of risk over the last 3 months. WooriNet exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out WooriNet's Mean Deviation of 2.02, standard deviation of 3.35, and Market Risk Adjusted Performance of (0.21) to validate the risk estimate we provide. The firm maintains a market beta of 0.44, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, WooriNet's returns are expected to increase less than the market. However, during the bear market, the loss of holding WooriNet is expected to be smaller as well. At this point, WooriNet has a negative expected return of -0.0207%. Please make sure to check out WooriNet's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if WooriNet performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.20 |
Weak predictability
WooriNet has weak predictability. Overlapping area represents the amount of predictability between WooriNet time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 WooriNet price movement. The serial correlation of 0.2 indicates that over 20.0% of current WooriNet price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 10.1 K |
WooriNet lagged returns against current returns
Autocorrelation, which is WooriNet 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 WooriNet's stock expected returns. We can calculate the autocorrelation of WooriNet returns to help us make a trade decision. For example, suppose you find that WooriNet 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 |
WooriNet 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 WooriNet stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WooriNet stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WooriNet stock over time.
Current vs Lagged Prices |
| Timeline |
WooriNet Lagged Returns
When evaluating WooriNet's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WooriNet stock have on its future price. WooriNet 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, WooriNet autocorrelation shows the relationship between WooriNet stock current value and its past values and can show if there is a momentum factor associated with investing in WooriNet.
Regressed Prices |
| Timeline |
Pair Trading with WooriNet
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 WooriNet 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 WooriNet will appreciate offsetting losses from the drop in the long position's value.Moving together with WooriNet Stock
Moving against WooriNet Stock
The ability to find closely correlated positions to WooriNet could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WooriNet 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 WooriNet - 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 WooriNet to buy it.
The correlation of WooriNet 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 WooriNet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WooriNet 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 WooriNet 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 WooriNet Stock
WooriNet financial ratios help investors to determine whether WooriNet 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 WooriNet with respect to the benefits of owning WooriNet security.