EyeGene (Korea) Market Value
| 185490 Stock | KRW 2,825 5.00 0.18% |
| Symbol | EyeGene |
EyeGene '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 EyeGene'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 EyeGene.
| 12/12/2022 |
| 12/01/2024 |
If you would invest 0.00 in EyeGene on December 12, 2022 and sell it all today you would earn a total of 0.00 from holding EyeGene or generate 0.0% return on investment in EyeGene over 720 days. EyeGene is related to or competes with CJ Seafood, Chorokbaem Healthcare, Shinsegae Food, InnoTherapy, Osang Healthcare, Samyang Foods, and INFINITT Healthcare. EyeGene Inc., a biotechnology company, engages in the research and development of biopharmaceutical drugs for the treatm... More
EyeGene 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 EyeGene'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 EyeGene upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.23) | |||
| Maximum Drawdown | 13.42 | |||
| Value At Risk | (4.14) | |||
| Potential Upside | 4.69 |
EyeGene Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for EyeGene's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as EyeGene's standard deviation. In reality, there are many statistical measures that can use EyeGene historical prices to predict the future EyeGene's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.58) | |||
| Total Risk Alpha | (0.90) | |||
| Treynor Ratio | (0.58) |
EyeGene Backtested Returns
EyeGene secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the company had a -0.12% return per unit of risk over the last 3 months. EyeGene exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm EyeGene's Mean Deviation of 1.92, variance of 6.6, and Standard Deviation of 2.57 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.82, which means possible diversification benefits within a given portfolio. As returns on the market increase, EyeGene's returns are expected to increase less than the market. However, during the bear market, the loss of holding EyeGene is expected to be smaller as well. At this point, EyeGene has a negative expected return of -0.3%. Please make sure to confirm EyeGene's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if EyeGene performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.32 |
Below average predictability
EyeGene has below average predictability. Overlapping area represents the amount of predictability between EyeGene time series from 12th of December 2022 to 7th of December 2023 and 7th of December 2023 to 1st 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 EyeGene price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current EyeGene price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 163.5 K |
EyeGene lagged returns against current returns
Autocorrelation, which is EyeGene 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 EyeGene's stock expected returns. We can calculate the autocorrelation of EyeGene returns to help us make a trade decision. For example, suppose you find that EyeGene 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 |
EyeGene 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 EyeGene stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if EyeGene stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in EyeGene stock over time.
Current vs Lagged Prices |
| Timeline |
EyeGene Lagged Returns
When evaluating EyeGene's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of EyeGene stock have on its future price. EyeGene 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, EyeGene autocorrelation shows the relationship between EyeGene stock current value and its past values and can show if there is a momentum factor associated with investing in EyeGene.
Regressed Prices |
| Timeline |
Pair Trading with EyeGene
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 EyeGene 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 EyeGene will appreciate offsetting losses from the drop in the long position's value.Moving against EyeGene Stock
| 0.69 | 226950 | OliX PharmaceuticalsInc | PairCorr |
| 0.63 | 105560 | KB Financial Group | PairCorr |
| 0.46 | 047810 | Korea Aerospace Indu | PairCorr |
The ability to find closely correlated positions to EyeGene could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace EyeGene 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 EyeGene - 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 EyeGene to buy it.
The correlation of EyeGene 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 EyeGene moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if EyeGene 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 EyeGene 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 EyeGene Stock
EyeGene financial ratios help investors to determine whether EyeGene 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 EyeGene with respect to the benefits of owning EyeGene security.