Solus Advanced (Korea) Market Value
| 336370 Stock | 8,780 370.00 4.04% |
| Symbol | Solus |
Solus Advanced '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 Solus Advanced'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 Solus Advanced.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Solus Advanced on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Solus Advanced Materials or generate 0.0% return on investment in Solus Advanced over 30 days. Solus Advanced is related to or competes with Daishin Information, Tway Air, Korea Computer, Iljin Display, and Jin Air. More
Solus Advanced 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 Solus Advanced'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 Solus Advanced Materials upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 11.03 | |||
| Value At Risk | (4.72) | |||
| Potential Upside | 3.95 |
Solus Advanced Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Solus Advanced's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Solus Advanced's standard deviation. In reality, there are many statistical measures that can use Solus Advanced historical prices to predict the future Solus Advanced's volatility.| Risk Adjusted Performance | (0.15) | |||
| Jensen Alpha | (0.55) | |||
| Total Risk Alpha | (1.03) | |||
| Treynor Ratio | 3.51 |
Solus Advanced Materials Backtested Returns
Solus Advanced Materials owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.23, which indicates the firm had a -0.23% return per unit of risk over the last 3 months. Solus Advanced Materials exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Solus Advanced's Coefficient Of Variation of (484.31), variance of 7.41, and Risk Adjusted Performance of (0.15) to confirm the risk estimate we provide. The entity has a beta of -0.16, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Solus Advanced are expected to decrease at a much lower rate. During the bear market, Solus Advanced is likely to outperform the market. At this point, Solus Advanced Materials has a negative expected return of -0.65%. Please make sure to validate Solus Advanced's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Solus Advanced Materials performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.51 |
Modest predictability
Solus Advanced Materials has modest predictability. Overlapping area represents the amount of predictability between Solus Advanced 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 Solus Advanced Materials price movement. The serial correlation of 0.51 indicates that about 51.0% of current Solus Advanced price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 51.7 K |
Solus Advanced Materials lagged returns against current returns
Autocorrelation, which is Solus Advanced 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 Solus Advanced's stock expected returns. We can calculate the autocorrelation of Solus Advanced returns to help us make a trade decision. For example, suppose you find that Solus Advanced 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 |
Solus Advanced 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 Solus Advanced stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Solus Advanced stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Solus Advanced stock over time.
Current vs Lagged Prices |
| Timeline |
Solus Advanced Lagged Returns
When evaluating Solus Advanced's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Solus Advanced stock have on its future price. Solus Advanced 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, Solus Advanced autocorrelation shows the relationship between Solus Advanced stock current value and its past values and can show if there is a momentum factor associated with investing in Solus Advanced Materials.
Regressed Prices |
| Timeline |
Pair Trading with Solus Advanced
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 Solus Advanced 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 Solus Advanced will appreciate offsetting losses from the drop in the long position's value.Moving together with Solus Stock
| 0.93 | 361610 | SK IE Technology | PairCorr |
| 0.82 | 020760 | Iljin Display | PairCorr |
| 0.63 | 014915 | Sungmoon Electronics | PairCorr |
Moving against Solus Stock
The ability to find closely correlated positions to Solus Advanced could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Solus Advanced 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 Solus Advanced - 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 Solus Advanced Materials to buy it.
The correlation of Solus Advanced 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 Solus Advanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Solus Advanced Materials 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 Solus Advanced 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 Solus Stock
Solus Advanced financial ratios help investors to determine whether Solus 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 Solus with respect to the benefits of owning Solus Advanced security.