Innodep (Korea) Market Value
| 303530 Stock | 6,910 130.00 1.85% |
| Symbol | Innodep |
Innodep '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 Innodep'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 Innodep.
| 10/27/2024 |
| 11/26/2024 |
If you would invest 0.00 in Innodep on October 27, 2024 and sell it all today you would earn a total of 0.00 from holding Innodep or generate 0.0% return on investment in Innodep over 30 days. Innodep is related to or competes with VAIV, FLITTO, WISE ITech. More
Innodep 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 Innodep'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 Innodep upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 17.09 | |||
| Value At Risk | (4.76) | |||
| Potential Upside | 3.51 |
Innodep Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Innodep's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Innodep's standard deviation. In reality, there are many statistical measures that can use Innodep historical prices to predict the future Innodep's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.17) | |||
| Total Risk Alpha | (0.56) | |||
| Treynor Ratio | (0.62) |
Innodep Backtested Returns
Innodep holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of risk over the last 3 months. Innodep exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Innodep's Risk Adjusted Performance of (0.03), standard deviation of 2.66, and Market Risk Adjusted Performance of (0.61) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.23, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Innodep's returns are expected to increase less than the market. However, during the bear market, the loss of holding Innodep is expected to be smaller as well. At this point, Innodep has a negative expected return of -0.37%. Please make sure to check out Innodep's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Innodep performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.04 |
Virtually no predictability
Innodep has virtually no predictability. Overlapping area represents the amount of predictability between Innodep time series from 27th of October 2024 to 11th of November 2024 and 11th of November 2024 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 Innodep price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Innodep price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 18 K |
Innodep lagged returns against current returns
Autocorrelation, which is Innodep 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 Innodep's stock expected returns. We can calculate the autocorrelation of Innodep returns to help us make a trade decision. For example, suppose you find that Innodep 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 |
Innodep 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 Innodep stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Innodep stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Innodep stock over time.
Current vs Lagged Prices |
| Timeline |
Innodep Lagged Returns
When evaluating Innodep's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Innodep stock have on its future price. Innodep 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, Innodep autocorrelation shows the relationship between Innodep stock current value and its past values and can show if there is a momentum factor associated with investing in Innodep.
Regressed Prices |
| Timeline |
Pair Trading with Innodep
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 Innodep 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 Innodep will appreciate offsetting losses from the drop in the long position's value.Moving together with Innodep Stock
Moving against Innodep Stock
The ability to find closely correlated positions to Innodep could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innodep 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 Innodep - 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 Innodep to buy it.
The correlation of Innodep 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 Innodep moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innodep 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 Innodep 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 Innodep Stock
Innodep financial ratios help investors to determine whether Innodep 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 Innodep with respect to the benefits of owning Innodep security.