InnoTherapy (Korea) Market Value
| 246960 Stock | KRW 8,430 130.00 1.57% |
| Symbol | InnoTherapy |
InnoTherapy '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 InnoTherapy'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 InnoTherapy.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in InnoTherapy on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding InnoTherapy or generate 0.0% return on investment in InnoTherapy over 30 days. InnoTherapy is related to or competes with Kolon Life, JETEMA, Aminologics CoLtd, Daihan Pharmaceutical, HLB Pharmaceutical, Withuspharmaceutical, and Choong Ang. InnoTherapy, Inc., engages in the development and sale of medical sealant products in South Korea More
InnoTherapy 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 InnoTherapy'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 InnoTherapy upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 7.15 | |||
| Value At Risk | (2.30) | |||
| Potential Upside | 2.78 |
InnoTherapy Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for InnoTherapy's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as InnoTherapy's standard deviation. In reality, there are many statistical measures that can use InnoTherapy historical prices to predict the future InnoTherapy's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.34) | |||
| Treynor Ratio | 9.9 |
InnoTherapy Backtested Returns
InnoTherapy holds Efficiency (Sharpe) Ratio of -0.0953, which attests that the entity had a -0.0953% return per unit of risk over the last 3 months. InnoTherapy exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out InnoTherapy's Market Risk Adjusted Performance of 9.91, standard deviation of 1.51, and Risk Adjusted Performance of (0.06) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0149, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning InnoTherapy are expected to decrease at a much lower rate. During the bear market, InnoTherapy is likely to outperform the market. At this point, InnoTherapy has a negative expected return of -0.14%. Please make sure to check out InnoTherapy's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if InnoTherapy performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.01 |
Very weak reverse predictability
InnoTherapy has very weak reverse predictability. Overlapping area represents the amount of predictability between InnoTherapy time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd 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 InnoTherapy price movement. The serial correlation of -0.01 indicates that just 1.0% of current InnoTherapy price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.01 | |
| Spearman Rank Test | -0.28 | |
| Residual Average | 0.0 | |
| Price Variance | 31.4 K |
InnoTherapy lagged returns against current returns
Autocorrelation, which is InnoTherapy 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 InnoTherapy's stock expected returns. We can calculate the autocorrelation of InnoTherapy returns to help us make a trade decision. For example, suppose you find that InnoTherapy 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 |
InnoTherapy 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 InnoTherapy stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if InnoTherapy stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in InnoTherapy stock over time.
Current vs Lagged Prices |
| Timeline |
InnoTherapy Lagged Returns
When evaluating InnoTherapy's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of InnoTherapy stock have on its future price. InnoTherapy 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, InnoTherapy autocorrelation shows the relationship between InnoTherapy stock current value and its past values and can show if there is a momentum factor associated with investing in InnoTherapy.
Regressed Prices |
| Timeline |
Pair Trading with InnoTherapy
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 InnoTherapy 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 InnoTherapy will appreciate offsetting losses from the drop in the long position's value.Moving together with InnoTherapy Stock
| 0.74 | 102940 | Kolon Life Science | PairCorr |
| 0.68 | 074430 | Aminologics CoLtd | PairCorr |
| 0.82 | 023910 | Daihan Pharmaceutical | PairCorr |
| 0.85 | 047920 | HLB Pharmaceutical | PairCorr |
Moving against InnoTherapy Stock
The ability to find closely correlated positions to InnoTherapy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace InnoTherapy 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 InnoTherapy - 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 InnoTherapy to buy it.
The correlation of InnoTherapy 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 InnoTherapy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if InnoTherapy 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 InnoTherapy 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 InnoTherapy Stock
InnoTherapy financial ratios help investors to determine whether InnoTherapy 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 InnoTherapy with respect to the benefits of owning InnoTherapy security.