MITECH CoLtd (Korea) Market Value

179290 Stock   8,150  160.00  1.93%   
MITECH CoLtd's market value is the price at which a share of MITECH CoLtd trades on a public exchange. It measures the collective expectations of MITECH CoLtd investors about its performance. MITECH CoLtd is trading at 8150.00 as of the 22nd of December 2024, a 1.93 percent decrease since the beginning of the trading day. The stock's open price was 8310.0.
With this module, you can estimate the performance of a buy and hold strategy of MITECH CoLtd and determine expected loss or profit from investing in MITECH CoLtd over a given investment horizon. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.
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MITECH CoLtd '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 MITECH CoLtd'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 MITECH CoLtd.
0.00
01/02/2023
No Change 0.00  0.0 
In 1 year 11 months and 22 days
12/22/2024
0.00
If you would invest  0.00  in MITECH CoLtd on January 2, 2023 and sell it all today you would earn a total of 0.00 from holding MITECH CoLtd or generate 0.0% return on investment in MITECH CoLtd over 720 days.

MITECH CoLtd 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 MITECH CoLtd'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 MITECH CoLtd upside and downside potential and time the market with a certain degree of confidence.

MITECH CoLtd Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for MITECH CoLtd's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MITECH CoLtd's standard deviation. In reality, there are many statistical measures that can use MITECH CoLtd historical prices to predict the future MITECH CoLtd's volatility.
Please note, it is not enough to conduct a financial or market analysis of a single entity such as MITECH CoLtd. Your research has to be compared to or analyzed against MITECH CoLtd's peers to derive any actionable benefits. When done correctly, MITECH CoLtd's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in MITECH CoLtd.

MITECH CoLtd Backtested Returns

At this point, MITECH CoLtd is very steady. MITECH CoLtd has Sharpe Ratio of 0.0573, which conveys that the firm had a 0.0573% return per unit of standard deviation over the last 3 months. We have found twenty-nine technical indicators for MITECH CoLtd, which you can use to evaluate the volatility of the firm. Please verify MITECH CoLtd's Market Risk Adjusted Performance of (1.13), risk adjusted performance of 0.0941, and Mean Deviation of 2.01 to check out if the risk estimate we provide is consistent with the expected return of 0.14%. MITECH CoLtd has a performance score of 4 on a scale of 0 to 100. The company secures a Beta (Market Risk) of -0.23, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning MITECH CoLtd are expected to decrease at a much lower rate. During the bear market, MITECH CoLtd is likely to outperform the market. MITECH CoLtd currently secures a risk of 2.45%. Please verify MITECH CoLtd standard deviation, total risk alpha, treynor ratio, as well as the relationship between the jensen alpha and sortino ratio , to decide if MITECH CoLtd will be following its current price movements.

Auto-correlation

    
  -0.45  

Modest reverse predictability

MITECH CoLtd has modest reverse predictability. Overlapping area represents the amount of predictability between MITECH CoLtd time series from 2nd of January 2023 to 28th of December 2023 and 28th of December 2023 to 22nd 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 MITECH CoLtd price movement. The serial correlation of -0.45 indicates that just about 45.0% of current MITECH CoLtd price fluctuation can be explain by its past prices.
Correlation Coefficient-0.45
Spearman Rank Test-0.54
Residual Average0.0
Price Variance586.3 K

MITECH CoLtd lagged returns against current returns

Autocorrelation, which is MITECH CoLtd 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 MITECH CoLtd's stock expected returns. We can calculate the autocorrelation of MITECH CoLtd returns to help us make a trade decision. For example, suppose you find that MITECH CoLtd 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  

MITECH CoLtd 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 MITECH CoLtd stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MITECH CoLtd stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MITECH CoLtd stock over time.
   Current vs Lagged Prices   
       Timeline  

MITECH CoLtd Lagged Returns

When evaluating MITECH CoLtd's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MITECH CoLtd stock have on its future price. MITECH CoLtd 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, MITECH CoLtd autocorrelation shows the relationship between MITECH CoLtd stock current value and its past values and can show if there is a momentum factor associated with investing in MITECH CoLtd.
   Regressed Prices   
       Timeline  

Pair Trading with MITECH CoLtd

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 MITECH CoLtd 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 MITECH CoLtd will appreciate offsetting losses from the drop in the long position's value.

Moving together with MITECH Stock

  0.79000660 SK HynixPairCorr

Moving against MITECH Stock

  0.31005935 Samsung ElectronicsPairCorr
The ability to find closely correlated positions to MITECH CoLtd could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MITECH CoLtd 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 MITECH CoLtd - 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 MITECH CoLtd to buy it.
The correlation of MITECH CoLtd 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 MITECH CoLtd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MITECH 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 MITECH CoLtd 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.
Pair CorrelationCorrelation Matching