COWINTECH (Korea) Market Value
| 282880 Stock | KRW 14,710 50.00 0.34% |
| Symbol | COWINTECH |
COWINTECH '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 COWINTECH'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 COWINTECH.
| 08/29/2024 |
| 11/27/2024 |
If you would invest 0.00 in COWINTECH on August 29, 2024 and sell it all today you would earn a total of 0.00 from holding COWINTECH Co or generate 0.0% return on investment in COWINTECH over 90 days. COWINTECH is related to or competes with Shinsegae Food, CJ Seafood, Lotte Non, Seoul Food, Incar Financial, and FoodNamoo. Ltd. engages in the manufacture and installation of equipment for automation More
COWINTECH 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 COWINTECH'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 COWINTECH Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.89 | |||
| Information Ratio | (0.01) | |||
| Maximum Drawdown | 36.38 | |||
| Value At Risk | (5.19) | |||
| Potential Upside | 5.59 |
COWINTECH Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for COWINTECH's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as COWINTECH's standard deviation. In reality, there are many statistical measures that can use COWINTECH historical prices to predict the future COWINTECH's volatility.| Risk Adjusted Performance | 0.0234 | |||
| Jensen Alpha | 0.0929 | |||
| Total Risk Alpha | (0.68) | |||
| Sortino Ratio | (0.01) | |||
| Treynor Ratio | (1.24) |
COWINTECH Backtested Returns
At this point, COWINTECH is very steady. COWINTECH secures Sharpe Ratio (or Efficiency) of 0.0196, which signifies that the company had a 0.0196% return per unit of volatility over the last 3 months. We have found thirty technical indicators for COWINTECH Co, which you can use to evaluate the volatility of the firm. Please confirm COWINTECH's risk adjusted performance of 0.0234, and Mean Deviation of 2.77 to double-check if the risk estimate we provide is consistent with the expected return of 0.0946%. COWINTECH has a performance score of 1 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.0684, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning COWINTECH are expected to decrease at a much lower rate. During the bear market, COWINTECH is likely to outperform the market. COWINTECH currently shows a risk of 4.84%. Please confirm COWINTECH jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to decide if COWINTECH will be following its price patterns.
Auto-correlation | 0.48 |
Average predictability
COWINTECH Co has average predictability. Overlapping area represents the amount of predictability between COWINTECH time series from 29th of August 2024 to 13th of October 2024 and 13th of October 2024 to 27th 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 COWINTECH price movement. The serial correlation of 0.48 indicates that about 48.0% of current COWINTECH price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.48 | |
| Spearman Rank Test | 0.13 | |
| Residual Average | 0.0 | |
| Price Variance | 1.7 M |
COWINTECH lagged returns against current returns
Autocorrelation, which is COWINTECH 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 COWINTECH's stock expected returns. We can calculate the autocorrelation of COWINTECH returns to help us make a trade decision. For example, suppose you find that COWINTECH 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 |
COWINTECH 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 COWINTECH stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if COWINTECH stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in COWINTECH stock over time.
Current vs Lagged Prices |
| Timeline |
COWINTECH Lagged Returns
When evaluating COWINTECH's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of COWINTECH stock have on its future price. COWINTECH 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, COWINTECH autocorrelation shows the relationship between COWINTECH stock current value and its past values and can show if there is a momentum factor associated with investing in COWINTECH Co.
Regressed Prices |
| Timeline |
Pair Trading with COWINTECH
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 COWINTECH 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 COWINTECH will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to COWINTECH could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace COWINTECH 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 COWINTECH - 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 COWINTECH Co to buy it.
The correlation of COWINTECH 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 COWINTECH moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if COWINTECH 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 COWINTECH 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 COWINTECH Stock
COWINTECH financial ratios help investors to determine whether COWINTECH 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 COWINTECH with respect to the benefits of owning COWINTECH security.