CG Hi (Korea) Market Value
| 264660 Stock | KRW 9,880 270.00 2.66% |
| Symbol | 264660 |
CG Hi '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 CG Hi'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 CG Hi.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in CG Hi on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding CG Hi Tech or generate 0.0% return on investment in CG Hi over 30 days. CG Hi is related to or competes with SK Hynix, LX Semicon, Tokai Carbon, People Technology, SIMMTECH, and SS TECH. CG Hi Tech Co., Ltd. engages in the semiconductor FPD component, materials, and environment businesses in South Korea an... More
CG Hi 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 CG Hi'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 CG Hi Tech upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.28) | |||
| Maximum Drawdown | 15.1 | |||
| Value At Risk | (3.66) | |||
| Potential Upside | 3.22 |
CG Hi Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for CG Hi's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as CG Hi's standard deviation. In reality, there are many statistical measures that can use CG Hi historical prices to predict the future CG Hi's volatility.| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.52) | |||
| Total Risk Alpha | (0.96) | |||
| Treynor Ratio | 1.6 |
CG Hi Tech Backtested Returns
CG Hi Tech retains Efficiency (Sharpe Ratio) of -0.27, which signifies that the company had a -0.27% return per unit of price deviation over the last 3 months. CG Hi exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm CG Hi's Information Ratio of (0.28), market risk adjusted performance of 1.61, and Variance of 5.84 to double-check the risk estimate we provide. The firm owns a Beta (Systematic Risk) of -0.35, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning CG Hi are expected to decrease at a much lower rate. During the bear market, CG Hi is likely to outperform the market. At this point, CG Hi Tech has a negative expected return of -0.61%. Please make sure to confirm CG Hi'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 CG Hi Tech performance from the past will be repeated sooner or later.
Auto-correlation | 0.33 |
Below average predictability
CG Hi Tech has below average predictability. Overlapping area represents the amount of predictability between CG Hi time series from 31st of October 2024 to 15th of November 2024 and 15th of November 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 CG Hi Tech price movement. The serial correlation of 0.33 indicates that nearly 33.0% of current CG Hi price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.33 | |
| Spearman Rank Test | 0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 10.4 K |
CG Hi Tech lagged returns against current returns
Autocorrelation, which is CG Hi 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 CG Hi's stock expected returns. We can calculate the autocorrelation of CG Hi returns to help us make a trade decision. For example, suppose you find that CG Hi 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 |
CG Hi 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 CG Hi stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if CG Hi stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in CG Hi stock over time.
Current vs Lagged Prices |
| Timeline |
CG Hi Lagged Returns
When evaluating CG Hi's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of CG Hi stock have on its future price. CG Hi 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, CG Hi autocorrelation shows the relationship between CG Hi stock current value and its past values and can show if there is a momentum factor associated with investing in CG Hi Tech.
Regressed Prices |
| Timeline |
Pair Trading with CG Hi
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 CG Hi 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 CG Hi will appreciate offsetting losses from the drop in the long position's value.Moving together with 264660 Stock
| 0.87 | 108320 | LX Semicon | PairCorr |
| 0.96 | 064760 | Tokai Carbon Korea | PairCorr |
| 0.79 | 137400 | People Technology | PairCorr |
| 0.94 | 166090 | Hana Materials | PairCorr |
Moving against 264660 Stock
The ability to find closely correlated positions to CG Hi could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CG Hi 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 CG Hi - 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 CG Hi Tech to buy it.
The correlation of CG Hi 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 CG Hi moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CG Hi Tech 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 CG Hi 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 264660 Stock
CG Hi financial ratios help investors to determine whether 264660 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 264660 with respect to the benefits of owning CG Hi security.