NEXTIN (Korea) Market Value
| 348210 Stock | KRW 55,600 2,300 3.97% |
| Symbol | NEXTIN |
NEXTIN '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 NEXTIN'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 NEXTIN.
| 10/28/2024 |
| 11/27/2024 |
If you would invest 0.00 in NEXTIN on October 28, 2024 and sell it all today you would earn a total of 0.00 from holding NEXTIN Inc or generate 0.0% return on investment in NEXTIN over 30 days. NEXTIN is related to or competes with Parksystems Corp, LEENO Industrial, Tesna, and Tokai Carbon. NEXTIN, Inc. manufactures defect inspection and metrology systems for semiconductor and display industries in South Kore... More
NEXTIN 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 NEXTIN'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 NEXTIN Inc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.8 | |||
| Information Ratio | 0.0079 | |||
| Maximum Drawdown | 16.66 | |||
| Value At Risk | (4.50) | |||
| Potential Upside | 4.11 |
NEXTIN Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for NEXTIN's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as NEXTIN's standard deviation. In reality, there are many statistical measures that can use NEXTIN historical prices to predict the future NEXTIN's volatility.| Risk Adjusted Performance | 0.0499 | |||
| Jensen Alpha | 0.1634 | |||
| Total Risk Alpha | (0.29) | |||
| Sortino Ratio | 0.0076 | |||
| Treynor Ratio | (0.79) |
NEXTIN Inc Backtested Returns
NEXTIN appears to be very steady, given 3 months investment horizon. NEXTIN Inc has Sharpe Ratio of 0.1, which conveys that the firm had a 0.1% return per unit of standard deviation over the last 3 months. We have found thirty technical indicators for NEXTIN, which you can use to evaluate the volatility of the firm. Please exercise NEXTIN's Mean Deviation of 1.93, market risk adjusted performance of (0.78), and Risk Adjusted Performance of 0.0499 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, NEXTIN holds a performance score of 8. The company secures a Beta (Market Risk) of -0.18, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning NEXTIN are expected to decrease at a much lower rate. During the bear market, NEXTIN is likely to outperform the market. Please check NEXTIN's jensen alpha, sortino ratio, maximum drawdown, as well as the relationship between the total risk alpha and treynor ratio , to make a quick decision on whether NEXTIN's current price movements will revert.
Auto-correlation | 0.09 |
Virtually no predictability
NEXTIN Inc has virtually no predictability. Overlapping area represents the amount of predictability between NEXTIN time series from 28th of October 2024 to 12th of November 2024 and 12th of November 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 NEXTIN Inc price movement. The serial correlation of 0.09 indicates that less than 9.0% of current NEXTIN price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.09 | |
| Spearman Rank Test | 0.29 | |
| Residual Average | 0.0 | |
| Price Variance | 4.8 M |
NEXTIN Inc lagged returns against current returns
Autocorrelation, which is NEXTIN 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 NEXTIN's stock expected returns. We can calculate the autocorrelation of NEXTIN returns to help us make a trade decision. For example, suppose you find that NEXTIN 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 |
NEXTIN 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 NEXTIN stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if NEXTIN stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in NEXTIN stock over time.
Current vs Lagged Prices |
| Timeline |
NEXTIN Lagged Returns
When evaluating NEXTIN's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of NEXTIN stock have on its future price. NEXTIN 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, NEXTIN autocorrelation shows the relationship between NEXTIN stock current value and its past values and can show if there is a momentum factor associated with investing in NEXTIN Inc.
Regressed Prices |
| Timeline |
Pair Trading with NEXTIN
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 NEXTIN 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 NEXTIN will appreciate offsetting losses from the drop in the long position's value.Moving together with NEXTIN Stock
Moving against NEXTIN Stock
| 0.77 | 000270 | Kia Corp | PairCorr |
| 0.64 | 084850 | ITM Semiconductor | PairCorr |
| 0.62 | 005935 | Samsung Electronics | PairCorr |
| 0.61 | 005930 | Samsung Electronics | PairCorr |
| 0.56 | 101490 | SS TECH | PairCorr |
The ability to find closely correlated positions to NEXTIN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEXTIN 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 NEXTIN - 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 NEXTIN Inc to buy it.
The correlation of NEXTIN 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 NEXTIN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NEXTIN Inc 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 NEXTIN 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 NEXTIN Stock
NEXTIN financial ratios help investors to determine whether NEXTIN 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 NEXTIN with respect to the benefits of owning NEXTIN security.