JNK Heaters (Korea) Market Value
| 126880 Stock | 3,195 5.00 0.16% |
| Symbol | JNK |
JNK Heaters '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 JNK Heaters' 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 JNK Heaters.
| 11/13/2024 |
| 12/13/2024 |
If you would invest 0.00 in JNK Heaters on November 13, 2024 and sell it all today you would earn a total of 0.00 from holding JNK Heaters Co or generate 0.0% return on investment in JNK Heaters over 30 days. JNK Heaters is related to or competes with CJ Seafood, Samlip General, Haitai Confectionery, Jeju Bank, FOODWELL, KB Financial, and INFINITT Healthcare. JNK Heaters Co., Ltd. is engaged in the construction, maintenance, and revamping of fired heaters and air cooled condensers in South Korea and internationally. More
JNK Heaters 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 JNK Heaters' 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 JNK Heaters Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 9.98 | |||
| Value At Risk | (4.13) | |||
| Potential Upside | 3.48 |
JNK Heaters Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for JNK Heaters' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as JNK Heaters' standard deviation. In reality, there are many statistical measures that can use JNK Heaters historical prices to predict the future JNK Heaters' volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.46) | |||
| Treynor Ratio | (0.29) |
JNK Heaters Backtested Returns
JNK Heaters holds Efficiency (Sharpe) Ratio of -0.0738, which attests that the entity had a -0.0738% return per unit of risk over the last 3 months. JNK Heaters exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out JNK Heaters' Market Risk Adjusted Performance of (0.28), risk adjusted performance of (0.03), and Coefficient Of Variation of (1,938) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.45, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, JNK Heaters' returns are expected to increase less than the market. However, during the bear market, the loss of holding JNK Heaters is expected to be smaller as well. At this point, JNK Heaters has a negative expected return of -0.17%. Please make sure to check out JNK Heaters' mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if JNK Heaters performance from the past will be repeated at future time.
Auto-correlation | -0.15 |
Insignificant reverse predictability
JNK Heaters Co has insignificant reverse predictability. Overlapping area represents the amount of predictability between JNK Heaters time series from 13th of November 2024 to 28th of November 2024 and 28th of November 2024 to 13th 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 JNK Heaters price movement. The serial correlation of -0.15 indicates that less than 15.0% of current JNK Heaters price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 14.4 K |
JNK Heaters lagged returns against current returns
Autocorrelation, which is JNK Heaters 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 JNK Heaters' stock expected returns. We can calculate the autocorrelation of JNK Heaters returns to help us make a trade decision. For example, suppose you find that JNK Heaters 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 |
JNK Heaters 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 JNK Heaters stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if JNK Heaters stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in JNK Heaters stock over time.
Current vs Lagged Prices |
| Timeline |
JNK Heaters Lagged Returns
When evaluating JNK Heaters' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of JNK Heaters stock have on its future price. JNK Heaters 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, JNK Heaters autocorrelation shows the relationship between JNK Heaters stock current value and its past values and can show if there is a momentum factor associated with investing in JNK Heaters Co.
Regressed Prices |
| Timeline |
Pair Trading with JNK Heaters
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 JNK Heaters 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 JNK Heaters will appreciate offsetting losses from the drop in the long position's value.Moving together with JNK Stock
Moving against JNK Stock
The ability to find closely correlated positions to JNK Heaters could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JNK Heaters 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 JNK Heaters - 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 JNK Heaters Co to buy it.
The correlation of JNK Heaters 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 JNK Heaters moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JNK Heaters 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 JNK Heaters 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 JNK Stock
JNK Heaters financial ratios help investors to determine whether JNK 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 JNK with respect to the benefits of owning JNK Heaters security.