Ray (Korea) Market Value
| 228670 Stock | KRW 5,870 230.00 3.77% |
| Symbol | Ray |
Ray '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 Ray'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 Ray.
| 03/05/2024 |
| 11/30/2024 |
If you would invest 0.00 in Ray on March 5, 2024 and sell it all today you would earn a total of 0.00 from holding Ray Co or generate 0.0% return on investment in Ray over 270 days. Ray is related to or competes with Korean Air, Koryo Credit, Dongbu Insurance, Total Soft, KakaoBank Corp, and InfoBank. RAY Co., Ltd. provides x-ray imaging solutions in the dental and medical industry More
Ray 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 Ray'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 Ray Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 17.68 | |||
| Value At Risk | (5.12) | |||
| Potential Upside | 3.85 |
Ray Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ray's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ray's standard deviation. In reality, there are many statistical measures that can use Ray historical prices to predict the future Ray's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (1.09) | |||
| Treynor Ratio | 1.2 |
Ray Co Backtested Returns
Ray Co maintains Sharpe Ratio (i.e., Efficiency) of -0.23, which implies the firm had a -0.23% return per unit of risk over the last 3 months. Ray Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Ray's Coefficient Of Variation of (516.91), variance of 9.05, and Risk Adjusted Performance of (0.14) to confirm the risk estimate we provide. The company holds a Beta of -0.5, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Ray are expected to decrease at a much lower rate. During the bear market, Ray is likely to outperform the market. At this point, Ray Co has a negative expected return of -0.69%. Please make sure to check Ray's potential upside, kurtosis, and the relationship between the value at risk and skewness , to decide if Ray Co performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.58 |
Modest predictability
Ray Co has modest predictability. Overlapping area represents the amount of predictability between Ray time series from 5th of March 2024 to 18th of July 2024 and 18th of July 2024 to 30th 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 Ray Co price movement. The serial correlation of 0.58 indicates that roughly 58.0% of current Ray price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.58 | |
| Spearman Rank Test | 0.6 | |
| Residual Average | 0.0 | |
| Price Variance | 2.1 M |
Ray Co lagged returns against current returns
Autocorrelation, which is Ray 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 Ray's stock expected returns. We can calculate the autocorrelation of Ray returns to help us make a trade decision. For example, suppose you find that Ray 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 |
Ray 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 Ray stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ray stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ray stock over time.
Current vs Lagged Prices |
| Timeline |
Ray Lagged Returns
When evaluating Ray's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ray stock have on its future price. Ray 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, Ray autocorrelation shows the relationship between Ray stock current value and its past values and can show if there is a momentum factor associated with investing in Ray Co.
Regressed Prices |
| Timeline |
Pair Trading with Ray
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 Ray 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 Ray will appreciate offsetting losses from the drop in the long position's value.Moving together with Ray Stock
The ability to find closely correlated positions to Ray could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ray 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 Ray - 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 Ray Co to buy it.
The correlation of Ray 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 Ray moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ray Co 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 Ray 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 Ray Stock
Ray financial ratios help investors to determine whether Ray 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 Ray with respect to the benefits of owning Ray security.