SOL KRX (Korea) Market Value
| 404650 Etf | 8,995 340.00 3.93% |
| Symbol | SOL |
SOL KRX '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 SOL KRX'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 SOL KRX.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in SOL KRX on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding SOL KRX Climate or generate 0.0% return on investment in SOL KRX over 30 days.
SOL KRX 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 SOL KRX'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 SOL KRX Climate upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.26) | |||
| Maximum Drawdown | 7.6 | |||
| Value At Risk | (3.19) | |||
| Potential Upside | 2.14 |
SOL KRX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SOL KRX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SOL KRX's standard deviation. In reality, there are many statistical measures that can use SOL KRX historical prices to predict the future SOL KRX's volatility.| Risk Adjusted Performance | (0.13) | |||
| Jensen Alpha | (0.31) | |||
| Total Risk Alpha | (0.57) | |||
| Treynor Ratio | 5.2 |
SOL KRX Climate Backtested Returns
SOL KRX Climate owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.19, which indicates the etf had a -0.19% return per unit of volatility over the last 3 months. SOL KRX Climate exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SOL KRX's variance of 2.67, and Risk Adjusted Performance of (0.13) to confirm the risk estimate we provide. The entity has a beta of -0.0606, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SOL KRX are expected to decrease at a much lower rate. During the bear market, SOL KRX is likely to outperform the market.
Auto-correlation | 0.06 |
Virtually no predictability
SOL KRX Climate has virtually no predictability. Overlapping area represents the amount of predictability between SOL KRX time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th of December 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 SOL KRX Climate price movement. The serial correlation of 0.06 indicates that barely 6.0% of current SOL KRX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.06 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 50.5 K |
SOL KRX Climate lagged returns against current returns
Autocorrelation, which is SOL KRX 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 SOL KRX's etf expected returns. We can calculate the autocorrelation of SOL KRX returns to help us make a trade decision. For example, suppose you find that SOL KRX 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 |
SOL KRX 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 SOL KRX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SOL KRX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SOL KRX etf over time.
Current vs Lagged Prices |
| Timeline |
SOL KRX Lagged Returns
When evaluating SOL KRX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SOL KRX etf have on its future price. SOL KRX 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, SOL KRX autocorrelation shows the relationship between SOL KRX etf current value and its past values and can show if there is a momentum factor associated with investing in SOL KRX Climate.
Regressed Prices |
| Timeline |
Pair Trading with SOL KRX
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 SOL KRX 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 SOL KRX will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to SOL KRX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SOL KRX 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 SOL KRX - 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 SOL KRX Climate to buy it.
The correlation of SOL KRX 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 SOL KRX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SOL KRX Climate 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 SOL KRX 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.