Jinro Distillers (Korea) Market Value
| 018120 Stock | KRW 17,020 70.00 0.41% |
| Symbol | Jinro |
Jinro Distillers '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 Jinro Distillers' 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 Jinro Distillers.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Jinro Distillers on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Jinro Distillers Co or generate 0.0% return on investment in Jinro Distillers over 30 days. Jinro Distillers is related to or competes with Korea Real, Korea Ratings, IQuest, and Wonbang Tech. Jinro Distillers Co., Ltd. produces and sells alcohol for food industries in South Korea More
Jinro Distillers 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 Jinro Distillers' 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 Jinro Distillers Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 6.09 | |||
| Value At Risk | (1.51) | |||
| Potential Upside | 1.11 |
Jinro Distillers Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Jinro Distillers' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Jinro Distillers' standard deviation. In reality, there are many statistical measures that can use Jinro Distillers historical prices to predict the future Jinro Distillers' volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.19) | |||
| Treynor Ratio | (0.23) |
Jinro Distillers Backtested Returns
Jinro Distillers holds Efficiency (Sharpe) Ratio of -0.0193, which attests that the entity had a -0.0193% return per unit of risk over the last 3 months. Jinro Distillers exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Jinro Distillers' Market Risk Adjusted Performance of (0.22), standard deviation of 0.9503, and Risk Adjusted Performance of (0.02) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.14, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Jinro Distillers' returns are expected to increase less than the market. However, during the bear market, the loss of holding Jinro Distillers is expected to be smaller as well. At this point, Jinro Distillers has a negative expected return of -0.0181%. Please make sure to check out Jinro Distillers' jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Jinro Distillers performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.04 |
Virtually no predictability
Jinro Distillers Co has virtually no predictability. Overlapping area represents the amount of predictability between Jinro Distillers time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st 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 Jinro Distillers price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current Jinro Distillers price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | 0.23 | |
| Residual Average | 0.0 | |
| Price Variance | 14.5 K |
Jinro Distillers lagged returns against current returns
Autocorrelation, which is Jinro Distillers 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 Jinro Distillers' stock expected returns. We can calculate the autocorrelation of Jinro Distillers returns to help us make a trade decision. For example, suppose you find that Jinro Distillers 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 |
Jinro Distillers 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 Jinro Distillers stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Jinro Distillers stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Jinro Distillers stock over time.
Current vs Lagged Prices |
| Timeline |
Jinro Distillers Lagged Returns
When evaluating Jinro Distillers' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Jinro Distillers stock have on its future price. Jinro Distillers 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, Jinro Distillers autocorrelation shows the relationship between Jinro Distillers stock current value and its past values and can show if there is a momentum factor associated with investing in Jinro Distillers Co.
Regressed Prices |
| Timeline |
Pair Trading with Jinro Distillers
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 Jinro Distillers 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 Jinro Distillers will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Jinro Distillers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jinro Distillers 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 Jinro Distillers - 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 Jinro Distillers Co to buy it.
The correlation of Jinro Distillers 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 Jinro Distillers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jinro Distillers 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 Jinro Distillers 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 Jinro Stock
Jinro Distillers financial ratios help investors to determine whether Jinro 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 Jinro with respect to the benefits of owning Jinro Distillers security.