Itcen Co (Korea) Market Value
| 124500 Stock | KRW 5,540 130.00 2.29% |
| Symbol | Itcen |
Itcen Co '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 Itcen Co'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 Itcen Co.
| 11/25/2024 |
| 12/25/2024 |
If you would invest 0.00 in Itcen Co on November 25, 2024 and sell it all today you would earn a total of 0.00 from holding Itcen Co or generate 0.0% return on investment in Itcen Co over 30 days. Itcen Co is related to or competes with Air Busan, Hanjin Transportation, Nam Hwa, Kyeryong Construction, Dongwoo Farm, and SEOJEON ELECTRIC. Itcen Co., Ltd. provides consulting, ICT, and outsourcing services and solutions in South Korea More
Itcen Co 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 Itcen Co'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 Itcen Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.89 | |||
| Information Ratio | 0.061 | |||
| Maximum Drawdown | 26.24 | |||
| Value At Risk | (6.72) | |||
| Potential Upside | 9.26 |
Itcen Co Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Itcen Co's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Itcen Co's standard deviation. In reality, there are many statistical measures that can use Itcen Co historical prices to predict the future Itcen Co's volatility.| Risk Adjusted Performance | 0.0645 | |||
| Jensen Alpha | 0.3254 | |||
| Total Risk Alpha | 0.1191 | |||
| Sortino Ratio | 0.0753 | |||
| Treynor Ratio | 4.42 |
Itcen Co Backtested Returns
At this point, Itcen Co is very steady. Itcen Co holds Efficiency (Sharpe) Ratio of 0.0032, which attests that the entity had a 0.0032% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Itcen Co, which you can use to evaluate the volatility of the firm. Please check out Itcen Co's Risk Adjusted Performance of 0.0645, downside deviation of 3.89, and Market Risk Adjusted Performance of 4.43 to validate if the risk estimate we provide is consistent with the expected return of 0.0145%. The company retains a Market Volatility (i.e., Beta) of 0.0742, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Itcen Co's returns are expected to increase less than the market. However, during the bear market, the loss of holding Itcen Co is expected to be smaller as well. Itcen Co right now retains a risk of 4.53%. Please check out Itcen Co mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Itcen Co will be following its current trending patterns.
Auto-correlation | 0.08 |
Virtually no predictability
Itcen Co has virtually no predictability. Overlapping area represents the amount of predictability between Itcen Co time series from 25th of November 2024 to 10th of December 2024 and 10th of December 2024 to 25th 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 Itcen Co price movement. The serial correlation of 0.08 indicates that barely 8.0% of current Itcen Co price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.08 | |
| Spearman Rank Test | -0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 60.5 K |
Itcen Co lagged returns against current returns
Autocorrelation, which is Itcen Co 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 Itcen Co's stock expected returns. We can calculate the autocorrelation of Itcen Co returns to help us make a trade decision. For example, suppose you find that Itcen Co 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 |
Itcen Co 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 Itcen Co stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Itcen Co stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Itcen Co stock over time.
Current vs Lagged Prices |
| Timeline |
Itcen Co Lagged Returns
When evaluating Itcen Co's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Itcen Co stock have on its future price. Itcen Co 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, Itcen Co autocorrelation shows the relationship between Itcen Co stock current value and its past values and can show if there is a momentum factor associated with investing in Itcen Co.
Regressed Prices |
| Timeline |
Pair Trading with Itcen Co
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 Itcen Co 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 Itcen Co will appreciate offsetting losses from the drop in the long position's value.Moving together with Itcen Stock
Moving against Itcen Stock
| 0.55 | 032640 | LG Uplus | PairCorr |
| 0.52 | 039240 | Gyeongnam Steel | PairCorr |
| 0.46 | 078160 | MEDIPOST | PairCorr |
| 0.38 | 241840 | ASTORY CoLtd | PairCorr |
The ability to find closely correlated positions to Itcen Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Itcen Co 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 Itcen Co - 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 Itcen Co to buy it.
The correlation of Itcen Co 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 Itcen Co moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Itcen Co 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 Itcen Co 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 Itcen Stock
Itcen Co financial ratios help investors to determine whether Itcen 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 Itcen with respect to the benefits of owning Itcen Co security.