Biodyne (Korea) Market Value
| 314930 Stock | 17,130 140.00 0.81% |
| Symbol | Biodyne |
Biodyne '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 Biodyne'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 Biodyne.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Biodyne on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Biodyne Co or generate 0.0% return on investment in Biodyne over 30 days.
Biodyne 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 Biodyne'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 Biodyne Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.03 | |||
| Information Ratio | 0.0394 | |||
| Maximum Drawdown | 29.61 | |||
| Value At Risk | (5.86) | |||
| Potential Upside | 10.0 |
Biodyne Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Biodyne's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Biodyne's standard deviation. In reality, there are many statistical measures that can use Biodyne historical prices to predict the future Biodyne's volatility.| Risk Adjusted Performance | 0.0595 | |||
| Jensen Alpha | 0.326 | |||
| Total Risk Alpha | (0.51) | |||
| Sortino Ratio | 0.0493 | |||
| Treynor Ratio | 135.96 |
Biodyne Backtested Returns
Biodyne appears to be very steady, given 3 months investment horizon. Biodyne secures Sharpe Ratio (or Efficiency) of 0.0594, which signifies that the company had a 0.0594% return per unit of risk over the last 3 months. We have found thirty technical indicators for Biodyne Co, which you can use to evaluate the volatility of the firm. Please makes use of Biodyne's Risk Adjusted Performance of 0.0595, downside deviation of 4.03, and Mean Deviation of 3.51 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Biodyne holds a performance score of 4. The firm shows a Beta (market volatility) of 0.0024, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Biodyne's returns are expected to increase less than the market. However, during the bear market, the loss of holding Biodyne is expected to be smaller as well. Please check Biodyne's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Biodyne's price patterns will revert.
Auto-correlation | 0.06 |
Virtually no predictability
Biodyne Co has virtually no predictability. Overlapping area represents the amount of predictability between Biodyne 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 Biodyne price movement. The serial correlation of 0.06 indicates that barely 6.0% of current Biodyne price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | 0.03 | |
| Residual Average | 0.0 | |
| Price Variance | 466.2 K |
Biodyne lagged returns against current returns
Autocorrelation, which is Biodyne 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 Biodyne's stock expected returns. We can calculate the autocorrelation of Biodyne returns to help us make a trade decision. For example, suppose you find that Biodyne 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 |
Biodyne 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 Biodyne stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Biodyne stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Biodyne stock over time.
Current vs Lagged Prices |
| Timeline |
Biodyne Lagged Returns
When evaluating Biodyne's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Biodyne stock have on its future price. Biodyne 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, Biodyne autocorrelation shows the relationship between Biodyne stock current value and its past values and can show if there is a momentum factor associated with investing in Biodyne Co.
Regressed Prices |
| Timeline |
Pair Trading with Biodyne
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 Biodyne 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 Biodyne will appreciate offsetting losses from the drop in the long position's value.Moving together with Biodyne Stock
Moving against Biodyne Stock
The ability to find closely correlated positions to Biodyne could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Biodyne 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 Biodyne - 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 Biodyne Co to buy it.
The correlation of Biodyne 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 Biodyne moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Biodyne 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 Biodyne 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.