MiraeAsset TIGER (Korea) Market Value
| 371460 Etf | 9,210 65.00 0.70% |
| Symbol | MiraeAsset |
MiraeAsset TIGER '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 MiraeAsset TIGER's etf 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 MiraeAsset TIGER.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in MiraeAsset TIGER on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding MiraeAsset TIGER China or generate 0.0% return on investment in MiraeAsset TIGER over 30 days.
MiraeAsset TIGER 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 MiraeAsset TIGER's etf 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 MiraeAsset TIGER China upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.17 | |||
| Information Ratio | 0.1575 | |||
| Maximum Drawdown | 15.02 | |||
| Value At Risk | (2.74) | |||
| Potential Upside | 6.68 |
MiraeAsset TIGER Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MiraeAsset TIGER's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MiraeAsset TIGER's standard deviation. In reality, there are many statistical measures that can use MiraeAsset TIGER historical prices to predict the future MiraeAsset TIGER's volatility.| Risk Adjusted Performance | 0.1657 | |||
| Jensen Alpha | 0.5043 | |||
| Total Risk Alpha | 0.1209 | |||
| Sortino Ratio | 0.1929 | |||
| Treynor Ratio | 1.89 |
MiraeAsset TIGER China Backtested Returns
MiraeAsset TIGER appears to be very steady, given 3 months investment horizon. MiraeAsset TIGER China has Sharpe Ratio of 0.22, which conveys that the entity had a 0.22% return per unit of risk over the last 3 months. By analyzing MiraeAsset TIGER's technical indicators, you can evaluate if the expected return of 0.63% is justified by implied risk. Please exercise MiraeAsset TIGER's Mean Deviation of 1.96, downside deviation of 2.17, and Risk Adjusted Performance of 0.1657 to check out if our risk estimates are consistent with your expectations. The etf secures a Beta (Market Risk) of 0.28, which conveys not very significant fluctuations relative to the market. As returns on the market increase, MiraeAsset TIGER's returns are expected to increase less than the market. However, during the bear market, the loss of holding MiraeAsset TIGER is expected to be smaller as well.
Auto-correlation | -0.13 |
Insignificant reverse predictability
MiraeAsset TIGER China has insignificant reverse predictability. Overlapping area represents the amount of predictability between MiraeAsset TIGER time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th 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 MiraeAsset TIGER China price movement. The serial correlation of -0.13 indicates that less than 13.0% of current MiraeAsset TIGER price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.13 | |
| Spearman Rank Test | -0.76 | |
| Residual Average | 0.0 | |
| Price Variance | 49.8 K |
MiraeAsset TIGER China lagged returns against current returns
Autocorrelation, which is MiraeAsset TIGER etf'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 MiraeAsset TIGER's etf expected returns. We can calculate the autocorrelation of MiraeAsset TIGER returns to help us make a trade decision. For example, suppose you find that MiraeAsset TIGER has exhibited high autocorrelation historically, and you observe that the etf 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 |
MiraeAsset TIGER 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 MiraeAsset TIGER etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MiraeAsset TIGER etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MiraeAsset TIGER etf over time.
Current vs Lagged Prices |
| Timeline |
MiraeAsset TIGER Lagged Returns
When evaluating MiraeAsset TIGER's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MiraeAsset TIGER etf have on its future price. MiraeAsset TIGER 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, MiraeAsset TIGER autocorrelation shows the relationship between MiraeAsset TIGER etf current value and its past values and can show if there is a momentum factor associated with investing in MiraeAsset TIGER China.
Regressed Prices |
| Timeline |
Pair Trading with MiraeAsset TIGER
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 MiraeAsset TIGER 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 MiraeAsset TIGER will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to MiraeAsset TIGER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MiraeAsset TIGER 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 MiraeAsset TIGER - 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 MiraeAsset TIGER China to buy it.
The correlation of MiraeAsset TIGER 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 MiraeAsset TIGER moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MiraeAsset TIGER China 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 MiraeAsset TIGER 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.