Osteonic (Korea) Market Value
| 226400 Stock | KRW 5,030 20.00 0.40% |
| Symbol | Osteonic |
Osteonic '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 Osteonic'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 Osteonic.
| 02/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Osteonic on February 27, 2024 and sell it all today you would earn a total of 0.00 from holding Osteonic Co or generate 0.0% return on investment in Osteonic over 270 days. Osteonic is related to or competes with Seegene, LabGenomics, Humasis, Busan Industrial, UNISEM, and Finebesteel. Osteonic Co., Ltd. develops, manufactures, and sells bone fixation systems More
Osteonic 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 Osteonic'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 Osteonic Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 19.68 | |||
| Value At Risk | (5.49) | |||
| Potential Upside | 6.44 |
Osteonic Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Osteonic's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Osteonic's standard deviation. In reality, there are many statistical measures that can use Osteonic historical prices to predict the future Osteonic's volatility.| Risk Adjusted Performance | 0.0044 | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | (0.04) |
Osteonic Backtested Returns
Osteonic maintains Sharpe Ratio (i.e., Efficiency) of -0.0122, which implies the firm had a -0.0122% return per unit of risk over the last 3 months. Osteonic exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Osteonic's Variance of 11.92, coefficient of variation of (22,431), and Risk Adjusted Performance of 0.0044 to confirm the risk estimate we provide. The company holds a Beta of 0.61, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Osteonic's returns are expected to increase less than the market. However, during the bear market, the loss of holding Osteonic is expected to be smaller as well. At this point, Osteonic has a negative expected return of -0.0436%. Please make sure to check Osteonic's maximum drawdown, potential upside, and the relationship between the treynor ratio and value at risk , to decide if Osteonic performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.47 |
Modest reverse predictability
Osteonic Co has modest reverse predictability. Overlapping area represents the amount of predictability between Osteonic time series from 27th of February 2024 to 11th of July 2024 and 11th of July 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 Osteonic price movement. The serial correlation of -0.47 indicates that about 47.0% of current Osteonic price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.47 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 190.7 K |
Osteonic lagged returns against current returns
Autocorrelation, which is Osteonic 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 Osteonic's stock expected returns. We can calculate the autocorrelation of Osteonic returns to help us make a trade decision. For example, suppose you find that Osteonic 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 |
Osteonic 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 Osteonic stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Osteonic stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Osteonic stock over time.
Current vs Lagged Prices |
| Timeline |
Osteonic Lagged Returns
When evaluating Osteonic's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Osteonic stock have on its future price. Osteonic 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, Osteonic autocorrelation shows the relationship between Osteonic stock current value and its past values and can show if there is a momentum factor associated with investing in Osteonic Co.
Regressed Prices |
| Timeline |
Pair Trading with Osteonic
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 Osteonic 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 Osteonic will appreciate offsetting losses from the drop in the long position's value.Moving together with Osteonic Stock
Moving against Osteonic Stock
The ability to find closely correlated positions to Osteonic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Osteonic 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 Osteonic - 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 Osteonic Co to buy it.
The correlation of Osteonic 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 Osteonic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Osteonic 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 Osteonic 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 Osteonic Stock
Osteonic financial ratios help investors to determine whether Osteonic 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 Osteonic with respect to the benefits of owning Osteonic security.