Alton Sports (Korea) Market Value
| 123750 Stock | KRW 1,440 1.00 0.07% |
| Symbol | Alton |
Alton Sports '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 Alton Sports' 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 Alton Sports.
| 12/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Alton Sports on December 29, 2023 and sell it all today you would earn a total of 0.00 from holding Alton Sports CoLtd or generate 0.0% return on investment in Alton Sports over 330 days. Alton Sports is related to or competes with Daeduck Electronics, POSCO M, Intellian Technologies, Eagle Veterinary, Lion Chemtech, and Amogreentech. Alton Sports Co., Ltd. manufactures and sells sports and recreation bicycles in South Korea More
Alton Sports 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 Alton Sports' 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 Alton Sports CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 6.07 | |||
| Value At Risk | (1.52) | |||
| Potential Upside | 1.67 |
Alton Sports Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Alton Sports' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Alton Sports' standard deviation. In reality, there are many statistical measures that can use Alton Sports historical prices to predict the future Alton Sports' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | (0.82) |
Alton Sports CoLtd Backtested Returns
Alton Sports CoLtd secures Sharpe Ratio (or Efficiency) of -0.17, which signifies that the company had a -0.17% return per unit of risk over the last 3 months. Alton Sports CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Alton Sports' Mean Deviation of 0.6033, standard deviation of 1.01, and Risk Adjusted Performance of (0.07) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Alton Sports' returns are expected to increase less than the market. However, during the bear market, the loss of holding Alton Sports is expected to be smaller as well. At this point, Alton Sports CoLtd has a negative expected return of -0.17%. Please make sure to confirm Alton Sports' maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Alton Sports CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.72 |
Good predictability
Alton Sports CoLtd has good predictability. Overlapping area represents the amount of predictability between Alton Sports time series from 29th of December 2023 to 11th of June 2024 and 11th of June 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 Alton Sports CoLtd price movement. The serial correlation of 0.72 indicates that around 72.0% of current Alton Sports price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.72 | |
| Spearman Rank Test | 0.71 | |
| Residual Average | 0.0 | |
| Price Variance | 13 K |
Alton Sports CoLtd lagged returns against current returns
Autocorrelation, which is Alton Sports 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 Alton Sports' stock expected returns. We can calculate the autocorrelation of Alton Sports returns to help us make a trade decision. For example, suppose you find that Alton Sports 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 |
Alton Sports 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 Alton Sports stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Alton Sports stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Alton Sports stock over time.
Current vs Lagged Prices |
| Timeline |
Alton Sports Lagged Returns
When evaluating Alton Sports' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Alton Sports stock have on its future price. Alton Sports 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, Alton Sports autocorrelation shows the relationship between Alton Sports stock current value and its past values and can show if there is a momentum factor associated with investing in Alton Sports CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Alton Sports
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 Alton Sports 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 Alton Sports will appreciate offsetting losses from the drop in the long position's value.Moving together with Alton Stock
The ability to find closely correlated positions to Alton Sports could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alton Sports 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 Alton Sports - 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 Alton Sports CoLtd to buy it.
The correlation of Alton Sports 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 Alton Sports moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alton Sports 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 Alton Sports 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 Alton Stock
Alton Sports financial ratios help investors to determine whether Alton 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 Alton with respect to the benefits of owning Alton Sports security.