ACE KRX (Korea) Market Value
| 411060 Etf | 17,125 230.00 1.36% |
| Symbol | ACE |
ACE 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 ACE 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 ACE KRX.
| 12/13/2022 |
| 12/02/2024 |
If you would invest 0.00 in ACE KRX on December 13, 2022 and sell it all today you would earn a total of 0.00 from holding ACE KRX Physical or generate 0.0% return on investment in ACE KRX over 720 days.
ACE 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 ACE 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 ACE KRX Physical upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.48 | |||
| Information Ratio | 0.0183 | |||
| Maximum Drawdown | 7.69 | |||
| Value At Risk | (2.42) | |||
| Potential Upside | 2.05 |
ACE KRX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ACE KRX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ACE KRX's standard deviation. In reality, there are many statistical measures that can use ACE KRX historical prices to predict the future ACE KRX's volatility.| Risk Adjusted Performance | 0.0981 | |||
| Jensen Alpha | 0.2083 | |||
| Total Risk Alpha | (0.07) | |||
| Sortino Ratio | 0.0162 | |||
| Treynor Ratio | (0.34) |
ACE KRX Physical Backtested Returns
At this point, ACE KRX is very steady. ACE KRX Physical secures Sharpe Ratio (or Efficiency) of 0.13, which signifies that the etf had a 0.13% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ACE KRX Physical, which you can use to evaluate the volatility of the entity. Please confirm ACE KRX's coefficient of variation of 814.0, and Mean Deviation of 0.9425 to double-check if the risk estimate we provide is consistent with the expected return of 0.18%. The entity shows a Beta (market volatility) of -0.44, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning ACE KRX are expected to decrease at a much lower rate. During the bear market, ACE KRX is likely to outperform the market.
Auto-correlation | 0.77 |
Good predictability
ACE KRX Physical has good predictability. Overlapping area represents the amount of predictability between ACE KRX time series from 13th of December 2022 to 8th of December 2023 and 8th of December 2023 to 2nd 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 ACE KRX Physical price movement. The serial correlation of 0.77 indicates that around 77.0% of current ACE KRX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.77 | |
| Spearman Rank Test | 0.58 | |
| Residual Average | 0.0 | |
| Price Variance | 2.8 M |
ACE KRX Physical lagged returns against current returns
Autocorrelation, which is ACE 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 ACE KRX's etf expected returns. We can calculate the autocorrelation of ACE KRX returns to help us make a trade decision. For example, suppose you find that ACE 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 |
ACE 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 ACE KRX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ACE KRX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ACE KRX etf over time.
Current vs Lagged Prices |
| Timeline |
ACE KRX Lagged Returns
When evaluating ACE KRX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ACE KRX etf have on its future price. ACE 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, ACE KRX autocorrelation shows the relationship between ACE KRX etf current value and its past values and can show if there is a momentum factor associated with investing in ACE KRX Physical.
Regressed Prices |
| Timeline |
Pair Trading with ACE 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 ACE 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 ACE KRX will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to ACE 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 ACE 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 ACE 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 ACE KRX Physical to buy it.
The correlation of ACE 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 ACE KRX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ACE KRX Physical 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 ACE 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.