Next Entertainment (Korea) Market Value
| 160550 Stock | KRW 2,265 20.00 0.88% |
| Symbol | Next |
Next Entertainment '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 Next Entertainment'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 Next Entertainment.
| 10/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Next Entertainment on October 24, 2024 and sell it all today you would earn a total of 0.00 from holding Next Entertainment World or generate 0.0% return on investment in Next Entertainment over 30 days. Next Entertainment is related to or competes with Daou Data, Wireless Power, Tway Air, Korean Air, SCI Information, Lotte Chilsung, and Automobile. Next Entertainment World Co., Ltd. operates as a content distribution company in South Korea More
Next Entertainment 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 Next Entertainment'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 Next Entertainment World upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 19.49 | |||
| Value At Risk | (4.44) | |||
| Potential Upside | 3.98 |
Next Entertainment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Next Entertainment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Next Entertainment's standard deviation. In reality, there are many statistical measures that can use Next Entertainment historical prices to predict the future Next Entertainment's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.09) | |||
| Total Risk Alpha | (0.53) | |||
| Treynor Ratio | 0.3119 |
Next Entertainment World Backtested Returns
Next Entertainment World has Sharpe Ratio of -0.0536, which conveys that the firm had a -0.0536% return per unit of risk over the last 3 months. Next Entertainment exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Next Entertainment's Standard Deviation of 3.1, mean deviation of 2.23, and Risk Adjusted Performance of (0.02) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.42, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Next Entertainment are expected to decrease at a much lower rate. During the bear market, Next Entertainment is likely to outperform the market. At this point, Next Entertainment World has a negative expected return of -0.17%. Please make sure to verify Next Entertainment's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if Next Entertainment World performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.18 |
Very weak predictability
Next Entertainment World has very weak predictability. Overlapping area represents the amount of predictability between Next Entertainment time series from 24th of October 2024 to 8th of November 2024 and 8th of November 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 Next Entertainment World price movement. The serial correlation of 0.18 indicates that over 18.0% of current Next Entertainment price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.18 | |
| Spearman Rank Test | -0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 7152.07 |
Next Entertainment World lagged returns against current returns
Autocorrelation, which is Next Entertainment 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 Next Entertainment's stock expected returns. We can calculate the autocorrelation of Next Entertainment returns to help us make a trade decision. For example, suppose you find that Next Entertainment 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 |
Next Entertainment 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 Next Entertainment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Next Entertainment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Next Entertainment stock over time.
Current vs Lagged Prices |
| Timeline |
Next Entertainment Lagged Returns
When evaluating Next Entertainment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Next Entertainment stock have on its future price. Next Entertainment 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, Next Entertainment autocorrelation shows the relationship between Next Entertainment stock current value and its past values and can show if there is a momentum factor associated with investing in Next Entertainment World.
Regressed Prices |
| Timeline |
Pair Trading with Next Entertainment
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 Next Entertainment 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 Next Entertainment will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Next Entertainment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Next Entertainment 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 Next Entertainment - 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 Next Entertainment World to buy it.
The correlation of Next Entertainment 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 Next Entertainment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Next Entertainment World 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 Next Entertainment 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 Next Stock
Next Entertainment financial ratios help investors to determine whether Next 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 Next with respect to the benefits of owning Next Entertainment security.