OLIPASS (Korea) Market Value
| 244460 Stock | KRW 4,795 95.00 2.02% |
| Symbol | OLIPASS |
OLIPASS '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 OLIPASS'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 OLIPASS.
| 10/25/2024 |
| 11/24/2024 |
If you would invest 0.00 in OLIPASS on October 25, 2024 and sell it all today you would earn a total of 0.00 from holding OLIPASS or generate 0.0% return on investment in OLIPASS over 30 days. OLIPASS is related to or competes with Samsung Biologics, SK Bioscience, Sk Biopharmaceutica, ABL Bio, and ISU Abxis. OLIPASS Corporation focuses on developing therapeutic products in South Korea More
OLIPASS 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 OLIPASS'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 OLIPASS upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 5.91 | |||
| Information Ratio | 0.018 | |||
| Maximum Drawdown | 48.64 | |||
| Value At Risk | (7.46) | |||
| Potential Upside | 12.36 |
OLIPASS Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for OLIPASS's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as OLIPASS's standard deviation. In reality, there are many statistical measures that can use OLIPASS historical prices to predict the future OLIPASS's volatility.| Risk Adjusted Performance | 0.0367 | |||
| Jensen Alpha | 0.2526 | |||
| Total Risk Alpha | (0.88) | |||
| Sortino Ratio | 0.0217 | |||
| Treynor Ratio | (9.03) |
OLIPASS Backtested Returns
OLIPASS maintains Sharpe Ratio (i.e., Efficiency) of -0.0981, which implies the firm had a -0.0981% return per unit of volatility over the last 3 months. OLIPASS exposes thirty different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check OLIPASS's risk adjusted performance of 0.0367, and Semi Deviation of 5.39 to confirm the risk estimate we provide. The company holds a Beta of -0.0276, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning OLIPASS are expected to decrease at a much lower rate. During the bear market, OLIPASS is likely to outperform the market. At this point, OLIPASS has a negative expected return of -0.54%. Please make sure to check OLIPASS's downside deviation, standard deviation, and the relationship between the semi deviation and coefficient of variation , to decide if OLIPASS performance from the past will be repeated at future time.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
OLIPASS has almost perfect reverse predictability. Overlapping area represents the amount of predictability between OLIPASS time series from 25th of October 2024 to 9th of November 2024 and 9th of November 2024 to 24th 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 OLIPASS price movement. The serial correlation of -0.77 indicates that around 77.0% of current OLIPASS price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 34.5 K |
OLIPASS lagged returns against current returns
Autocorrelation, which is OLIPASS 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 OLIPASS's stock expected returns. We can calculate the autocorrelation of OLIPASS returns to help us make a trade decision. For example, suppose you find that OLIPASS 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 |
OLIPASS 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 OLIPASS stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if OLIPASS stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in OLIPASS stock over time.
Current vs Lagged Prices |
| Timeline |
OLIPASS Lagged Returns
When evaluating OLIPASS's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of OLIPASS stock have on its future price. OLIPASS 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, OLIPASS autocorrelation shows the relationship between OLIPASS stock current value and its past values and can show if there is a momentum factor associated with investing in OLIPASS.
Regressed Prices |
| Timeline |
Pair Trading with OLIPASS
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 OLIPASS 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 OLIPASS will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to OLIPASS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OLIPASS 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 OLIPASS - 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 OLIPASS to buy it.
The correlation of OLIPASS 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 OLIPASS moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OLIPASS 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 OLIPASS 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 OLIPASS Stock
OLIPASS financial ratios help investors to determine whether OLIPASS 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 OLIPASS with respect to the benefits of owning OLIPASS security.