Green Cross (Korea) Market Value
| 142280 Stock | KRW 3,725 35.00 0.93% |
| Symbol | Green |
Green Cross '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 Green Cross' 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 Green Cross.
| 09/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Green Cross on September 27, 2024 and sell it all today you would earn a total of 0.00 from holding Green Cross Medical or generate 0.0% return on investment in Green Cross over 60 days. Green Cross is related to or competes with Eagle Veterinary, NewFlex Technology, Woori Technology, Air Busan, and Atinum Investment. GreenCross Medical Science Corp. manufactures and sells diagnostic reagents in South Korea More
Green Cross 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 Green Cross' 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 Green Cross Medical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.32) | |||
| Maximum Drawdown | 12.65 | |||
| Value At Risk | (6.08) | |||
| Potential Upside | 3.79 |
Green Cross Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Green Cross' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Green Cross' standard deviation. In reality, there are many statistical measures that can use Green Cross historical prices to predict the future Green Cross' volatility.| Risk Adjusted Performance | (0.20) | |||
| Jensen Alpha | (0.77) | |||
| Total Risk Alpha | (1.19) | |||
| Treynor Ratio | (17.85) |
Green Cross Medical Backtested Returns
Green Cross Medical holds Efficiency (Sharpe) Ratio of -0.14, which attests that the entity had a -0.14% return per unit of risk over the last 3 months. Green Cross Medical exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Green Cross' Risk Adjusted Performance of (0.20), market risk adjusted performance of (17.84), and Standard Deviation of 2.78 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0427, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Green Cross' returns are expected to increase less than the market. However, during the bear market, the loss of holding Green Cross is expected to be smaller as well. At this point, Green Cross Medical has a negative expected return of -0.34%. Please make sure to check out Green Cross' coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if Green Cross Medical performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.61 |
Very good reverse predictability
Green Cross Medical has very good reverse predictability. Overlapping area represents the amount of predictability between Green Cross time series from 27th of September 2024 to 27th of October 2024 and 27th of October 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 Green Cross Medical price movement. The serial correlation of -0.61 indicates that roughly 61.0% of current Green Cross price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.61 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 44.5 K |
Green Cross Medical lagged returns against current returns
Autocorrelation, which is Green Cross 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 Green Cross' stock expected returns. We can calculate the autocorrelation of Green Cross returns to help us make a trade decision. For example, suppose you find that Green Cross 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 |
Green Cross 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 Green Cross stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Green Cross stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Green Cross stock over time.
Current vs Lagged Prices |
| Timeline |
Green Cross Lagged Returns
When evaluating Green Cross' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Green Cross stock have on its future price. Green Cross 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, Green Cross autocorrelation shows the relationship between Green Cross stock current value and its past values and can show if there is a momentum factor associated with investing in Green Cross Medical.
Regressed Prices |
| Timeline |
Pair Trading with Green Cross
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 Green Cross 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 Green Cross will appreciate offsetting losses from the drop in the long position's value.Moving together with Green Stock
Moving against Green Stock
The ability to find closely correlated positions to Green Cross could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Green Cross 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 Green Cross - 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 Green Cross Medical to buy it.
The correlation of Green Cross 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 Green Cross moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Green Cross Medical 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 Green Cross 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 Green Stock
Green Cross financial ratios help investors to determine whether Green 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 Green with respect to the benefits of owning Green Cross security.