Korea Refractories (Korea) Market Value
| 010040 Stock | 2,155 25.00 1.15% |
| Symbol | Korea |
Korea Refractories '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 Korea Refractories' 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 Korea Refractories.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in Korea Refractories on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding Korea Refractories Co or generate 0.0% return on investment in Korea Refractories over 540 days. Korea Refractories is related to or competes with Chorokbaem Healthcare, Infinitt Healthcare, Hana Materials, Aprogen Healthcare, LG Household, and RF Materials. More
Korea Refractories 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 Korea Refractories' 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 Korea Refractories Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 8.82 | |||
| Value At Risk | (2.18) | |||
| Potential Upside | 2.25 |
Korea Refractories Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Korea Refractories' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Korea Refractories' standard deviation. In reality, there are many statistical measures that can use Korea Refractories historical prices to predict the future Korea Refractories' volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.19) | |||
| Total Risk Alpha | (0.39) | |||
| Treynor Ratio | (0.69) |
Korea Refractories Backtested Returns
Korea Refractories has Sharpe Ratio of -0.0225, which conveys that the firm had a -0.0225% return per unit of risk over the last 3 months. Korea Refractories exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Korea Refractories' Mean Deviation of 1.13, risk adjusted performance of (0.07), and Standard Deviation of 1.52 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of 0.24, which conveys not very significant fluctuations relative to the market. As returns on the market increase, Korea Refractories' returns are expected to increase less than the market. However, during the bear market, the loss of holding Korea Refractories is expected to be smaller as well. At this point, Korea Refractories has a negative expected return of -0.0352%. Please make sure to verify Korea Refractories' treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Korea Refractories performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.56 |
Modest predictability
Korea Refractories Co has modest predictability. Overlapping area represents the amount of predictability between Korea Refractories time series from 8th of June 2023 to 4th of March 2024 and 4th of March 2024 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 Korea Refractories price movement. The serial correlation of 0.56 indicates that roughly 56.0% of current Korea Refractories price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.56 | |
| Spearman Rank Test | 0.63 | |
| Residual Average | 0.0 | |
| Price Variance | 77.4 K |
Korea Refractories lagged returns against current returns
Autocorrelation, which is Korea Refractories 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 Korea Refractories' stock expected returns. We can calculate the autocorrelation of Korea Refractories returns to help us make a trade decision. For example, suppose you find that Korea Refractories 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 |
Korea Refractories 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 Korea Refractories stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Korea Refractories stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Korea Refractories stock over time.
Current vs Lagged Prices |
| Timeline |
Korea Refractories Lagged Returns
When evaluating Korea Refractories' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Korea Refractories stock have on its future price. Korea Refractories 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, Korea Refractories autocorrelation shows the relationship between Korea Refractories stock current value and its past values and can show if there is a momentum factor associated with investing in Korea Refractories Co.
Regressed Prices |
| Timeline |
Pair Trading with Korea Refractories
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 Korea Refractories 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 Korea Refractories will appreciate offsetting losses from the drop in the long position's value.Moving together with Korea Stock
The ability to find closely correlated positions to Korea Refractories could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Korea Refractories 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 Korea Refractories - 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 Korea Refractories Co to buy it.
The correlation of Korea Refractories 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 Korea Refractories moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Korea Refractories 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 Korea Refractories 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 Korea Stock
Korea Refractories financial ratios help investors to determine whether Korea 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 Korea with respect to the benefits of owning Korea Refractories security.