PJ Electronics (Korea) Market Value
| 006140 Stock | KRW 4,535 5.00 0.11% |
| Symbol | 006140 |
PJ Electronics '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 PJ Electronics' 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 PJ Electronics.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in PJ Electronics on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding PJ Electronics Co or generate 0.0% return on investment in PJ Electronics over 30 days. PJ Electronics is related to or competes with Daejoo Electronic, Parksystems Corp, BH, Partron, UTI, Robotis CoLtd, and IM CoLtd. PJ Electronics Co., Ltd. provides electronic manufacturing services in South Korea and internationally More
PJ Electronics 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 PJ Electronics' 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 PJ Electronics Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 15.53 | |||
| Value At Risk | (3.57) | |||
| Potential Upside | 3.1 |
PJ Electronics Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PJ Electronics' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PJ Electronics' standard deviation. In reality, there are many statistical measures that can use PJ Electronics historical prices to predict the future PJ Electronics' volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.37) | |||
| Total Risk Alpha | (0.80) | |||
| Treynor Ratio | 2.02 |
PJ Electronics Backtested Returns
PJ Electronics retains Efficiency (Sharpe Ratio) of -0.13, which implies the firm had a -0.13% return per unit of price deviation over the last 3 months. PJ Electronics exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check PJ Electronics' information ratio of (0.21), and Market Risk Adjusted Performance of 2.03 to confirm the risk estimate we provide. The company owns a Beta (Systematic Risk) of -0.19, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning PJ Electronics are expected to decrease at a much lower rate. During the bear market, PJ Electronics is likely to outperform the market. At this point, PJ Electronics has a negative expected return of -0.32%. Please make sure to check PJ Electronics' market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if PJ Electronics performance from the past will be repeated sooner or later.
Auto-correlation | -0.65 |
Very good reverse predictability
PJ Electronics Co has very good reverse predictability. Overlapping area represents the amount of predictability between PJ Electronics time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th 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 PJ Electronics price movement. The serial correlation of -0.65 indicates that roughly 65.0% of current PJ Electronics price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.65 | |
| Spearman Rank Test | -0.4 | |
| Residual Average | 0.0 | |
| Price Variance | 4888.02 |
PJ Electronics lagged returns against current returns
Autocorrelation, which is PJ Electronics 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 PJ Electronics' stock expected returns. We can calculate the autocorrelation of PJ Electronics returns to help us make a trade decision. For example, suppose you find that PJ Electronics 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 |
PJ Electronics 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 PJ Electronics stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PJ Electronics stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PJ Electronics stock over time.
Current vs Lagged Prices |
| Timeline |
PJ Electronics Lagged Returns
When evaluating PJ Electronics' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PJ Electronics stock have on its future price. PJ Electronics 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, PJ Electronics autocorrelation shows the relationship between PJ Electronics stock current value and its past values and can show if there is a momentum factor associated with investing in PJ Electronics Co.
Regressed Prices |
| Timeline |
Pair Trading with PJ Electronics
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 PJ Electronics 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 PJ Electronics will appreciate offsetting losses from the drop in the long position's value.Moving together with 006140 Stock
The ability to find closely correlated positions to PJ Electronics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PJ Electronics 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 PJ Electronics - 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 PJ Electronics Co to buy it.
The correlation of PJ Electronics 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 PJ Electronics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PJ Electronics 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 PJ Electronics 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 006140 Stock
PJ Electronics financial ratios help investors to determine whether 006140 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 006140 with respect to the benefits of owning PJ Electronics security.