KBSTAR Short (Korea) Market Value
| 437350 Etf | 11,695 5.00 0.04% |
| Symbol | KBSTAR |
KBSTAR Short '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 KBSTAR Short'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 KBSTAR Short.
| 01/09/2023 |
| 11/29/2024 |
If you would invest 0.00 in KBSTAR Short on January 9, 2023 and sell it all today you would earn a total of 0.00 from holding KBSTAR Short Term IG or generate 0.0% return on investment in KBSTAR Short over 690 days.
KBSTAR Short 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 KBSTAR Short'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 KBSTAR Short Term IG upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.4145 | |||
| Information Ratio | (0.1) | |||
| Maximum Drawdown | 2.55 | |||
| Value At Risk | (0.61) | |||
| Potential Upside | 0.8551 |
KBSTAR Short Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KBSTAR Short's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KBSTAR Short's standard deviation. In reality, there are many statistical measures that can use KBSTAR Short historical prices to predict the future KBSTAR Short's volatility.| Risk Adjusted Performance | 0.1272 | |||
| Jensen Alpha | 0.0588 | |||
| Total Risk Alpha | 0.0011 | |||
| Sortino Ratio | (0.11) | |||
| Treynor Ratio | 0.6764 |
KBSTAR Short Term Backtested Returns
At this point, KBSTAR Short is very steady. KBSTAR Short Term has Sharpe Ratio of 0.18, which conveys that the etf had a 0.18% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for KBSTAR Short, which you can use to evaluate the volatility of the entity. Please verify KBSTAR Short's Market Risk Adjusted Performance of 0.6864, downside deviation of 0.4145, and Mean Deviation of 0.3495 to check out if the risk estimate we provide is consistent with the expected return of 0.0849%. The entity secures a Beta (Market Risk) of 0.1, which conveys not very significant fluctuations relative to the market. As returns on the market increase, KBSTAR Short's returns are expected to increase less than the market. However, during the bear market, the loss of holding KBSTAR Short is expected to be smaller as well.
Auto-correlation | 0.61 |
Good predictability
KBSTAR Short Term IG has good predictability. Overlapping area represents the amount of predictability between KBSTAR Short time series from 9th of January 2023 to 20th of December 2023 and 20th of December 2023 to 29th 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 KBSTAR Short Term price movement. The serial correlation of 0.61 indicates that roughly 61.0% of current KBSTAR Short price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.61 | |
| Spearman Rank Test | 0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 122.8 K |
KBSTAR Short Term lagged returns against current returns
Autocorrelation, which is KBSTAR Short 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 KBSTAR Short's etf expected returns. We can calculate the autocorrelation of KBSTAR Short returns to help us make a trade decision. For example, suppose you find that KBSTAR Short 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 |
KBSTAR Short 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 KBSTAR Short etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KBSTAR Short etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KBSTAR Short etf over time.
Current vs Lagged Prices |
| Timeline |
KBSTAR Short Lagged Returns
When evaluating KBSTAR Short's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KBSTAR Short etf have on its future price. KBSTAR Short 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, KBSTAR Short autocorrelation shows the relationship between KBSTAR Short etf current value and its past values and can show if there is a momentum factor associated with investing in KBSTAR Short Term IG.
Regressed Prices |
| Timeline |
Pair Trading with KBSTAR Short
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 KBSTAR Short 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 KBSTAR Short will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to KBSTAR Short could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KBSTAR Short 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 KBSTAR Short - 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 KBSTAR Short Term IG to buy it.
The correlation of KBSTAR Short 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 KBSTAR Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KBSTAR Short Term 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 KBSTAR Short 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.