SKONEC Entertainment (Korea) Market Value
| 276040 Stock | 2,695 60.00 2.28% |
| Symbol | SKONEC |
SKONEC Entertainment '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 SKONEC Entertainment'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 SKONEC Entertainment.
| 12/07/2022 |
| 11/26/2024 |
If you would invest 0.00 in SKONEC Entertainment on December 7, 2022 and sell it all today you would earn a total of 0.00 from holding SKONEC Entertainment Co or generate 0.0% return on investment in SKONEC Entertainment over 720 days. SKONEC Entertainment is related to or competes with Posco ICT, Devsisters Corporation, Nice Information, InfoBank, and SundayToz Corp. More
SKONEC Entertainment 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 SKONEC Entertainment'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 SKONEC Entertainment Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 21.9 | |||
| Value At Risk | (4.42) | |||
| Potential Upside | 3.94 |
SKONEC Entertainment Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SKONEC Entertainment's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SKONEC Entertainment's standard deviation. In reality, there are many statistical measures that can use SKONEC Entertainment historical prices to predict the future SKONEC Entertainment's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.41) | |||
| Total Risk Alpha | (0.88) | |||
| Treynor Ratio | (2.78) |
SKONEC Entertainment Backtested Returns
SKONEC Entertainment owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.13, which indicates the firm had a -0.13% return per unit of standard deviation over the last 3 months. SKONEC Entertainment Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SKONEC Entertainment's risk adjusted performance of (0.09), and Variance of 9.5 to confirm the risk estimate we provide. The entity has a beta of 0.14, which indicates not very significant fluctuations relative to the market. As returns on the market increase, SKONEC Entertainment's returns are expected to increase less than the market. However, during the bear market, the loss of holding SKONEC Entertainment is expected to be smaller as well. At this point, SKONEC Entertainment has a negative expected return of -0.43%. Please make sure to validate SKONEC Entertainment's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if SKONEC Entertainment performance from the past will be repeated at future time.
Auto-correlation | 0.84 |
Very good predictability
SKONEC Entertainment Co has very good predictability. Overlapping area represents the amount of predictability between SKONEC Entertainment time series from 7th of December 2022 to 2nd of December 2023 and 2nd of December 2023 to 26th 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 SKONEC Entertainment price movement. The serial correlation of 0.84 indicates that around 84.0% of current SKONEC Entertainment price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.84 | |
| Spearman Rank Test | 0.87 | |
| Residual Average | 0.0 | |
| Price Variance | 7.1 M |
SKONEC Entertainment lagged returns against current returns
Autocorrelation, which is SKONEC Entertainment 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 SKONEC Entertainment's stock expected returns. We can calculate the autocorrelation of SKONEC Entertainment returns to help us make a trade decision. For example, suppose you find that SKONEC Entertainment 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 |
SKONEC Entertainment 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 SKONEC Entertainment stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SKONEC Entertainment stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SKONEC Entertainment stock over time.
Current vs Lagged Prices |
| Timeline |
SKONEC Entertainment Lagged Returns
When evaluating SKONEC Entertainment's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SKONEC Entertainment stock have on its future price. SKONEC Entertainment 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, SKONEC Entertainment autocorrelation shows the relationship between SKONEC Entertainment stock current value and its past values and can show if there is a momentum factor associated with investing in SKONEC Entertainment Co.
Regressed Prices |
| Timeline |
Pair Trading with SKONEC Entertainment
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 SKONEC Entertainment 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 SKONEC Entertainment will appreciate offsetting losses from the drop in the long position's value.Moving together with SKONEC Stock
| 0.7 | 293490 | Kakao Games Corp | PairCorr |
| 0.73 | 022100 | Posco ICT | PairCorr |
| 0.79 | 194480 | Devsisters corporation | PairCorr |
| 0.88 | 347860 | Alchera | PairCorr |
Moving against SKONEC Stock
| 0.56 | 158430 | ATON Inc | PairCorr |
| 0.51 | 111710 | Namhwa Industrial | PairCorr |
| 0.45 | 329180 | Hyundai Heavy Industries | PairCorr |
| 0.44 | 402030 | Konan Technology | PairCorr |
| 0.44 | 182360 | Cube Entertainment | PairCorr |
The ability to find closely correlated positions to SKONEC Entertainment could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SKONEC Entertainment 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 SKONEC Entertainment - 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 SKONEC Entertainment Co to buy it.
The correlation of SKONEC Entertainment 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 SKONEC Entertainment moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SKONEC Entertainment 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 SKONEC Entertainment 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 SKONEC Stock
SKONEC Entertainment financial ratios help investors to determine whether SKONEC 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 SKONEC with respect to the benefits of owning SKONEC Entertainment security.