Cheryong Electric (Korea) Market Value
| 033100 Stock | KRW 40,550 3,750 10.19% |
| Symbol | Cheryong |
Cheryong Electric '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 Cheryong Electric's 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 Cheryong Electric.
| 11/11/2024 |
| 12/11/2024 |
If you would invest 0.00 in Cheryong Electric on November 11, 2024 and sell it all today you would earn a total of 0.00 from holding Cheryong Electric CoLtd or generate 0.0% return on investment in Cheryong Electric over 30 days. Cheryong Electric is related to or competes with HyVision System, Daebo Magnetic, Vitzro Tech, Busan Industrial, Sam Chun, Humax, and Finebesteel. Cheryong Electric Co., Ltd. manufactures and sells power electric equipment in South Korea. More
Cheryong Electric 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 Cheryong Electric's 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 Cheryong Electric CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.10) | |||
| Maximum Drawdown | 26.56 | |||
| Value At Risk | (6.79) | |||
| Potential Upside | 6.75 |
Cheryong Electric Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cheryong Electric's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cheryong Electric's standard deviation. In reality, there are many statistical measures that can use Cheryong Electric historical prices to predict the future Cheryong Electric's volatility.| Risk Adjusted Performance | (0.05) | |||
| Jensen Alpha | (0.42) | |||
| Total Risk Alpha | (1.11) | |||
| Treynor Ratio | (0.68) |
Cheryong Electric CoLtd Backtested Returns
Cheryong Electric CoLtd secures Sharpe Ratio (or Efficiency) of -0.0999, which signifies that the company had a -0.0999% return per unit of standard deviation over the last 3 months. Cheryong Electric CoLtd exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cheryong Electric's mean deviation of 3.56, and Risk Adjusted Performance of (0.05) to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.53, which signifies possible diversification benefits within a given portfolio. As returns on the market increase, Cheryong Electric's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cheryong Electric is expected to be smaller as well. At this point, Cheryong Electric CoLtd has a negative expected return of -0.45%. Please make sure to confirm Cheryong Electric's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Cheryong Electric CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.63 |
Good predictability
Cheryong Electric CoLtd has good predictability. Overlapping area represents the amount of predictability between Cheryong Electric time series from 11th of November 2024 to 26th of November 2024 and 26th of November 2024 to 11th 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 Cheryong Electric CoLtd price movement. The serial correlation of 0.63 indicates that roughly 63.0% of current Cheryong Electric price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.63 | |
| Spearman Rank Test | -0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 6.5 M |
Cheryong Electric CoLtd lagged returns against current returns
Autocorrelation, which is Cheryong Electric 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 Cheryong Electric's stock expected returns. We can calculate the autocorrelation of Cheryong Electric returns to help us make a trade decision. For example, suppose you find that Cheryong Electric 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 |
Cheryong Electric 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 Cheryong Electric stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cheryong Electric stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cheryong Electric stock over time.
Current vs Lagged Prices |
| Timeline |
Cheryong Electric Lagged Returns
When evaluating Cheryong Electric's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cheryong Electric stock have on its future price. Cheryong Electric 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, Cheryong Electric autocorrelation shows the relationship between Cheryong Electric stock current value and its past values and can show if there is a momentum factor associated with investing in Cheryong Electric CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Cheryong Electric
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 Cheryong Electric 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 Cheryong Electric will appreciate offsetting losses from the drop in the long position's value.Moving together with Cheryong Stock
| 0.84 | 054210 | Elentec Co | PairCorr |
| 0.67 | 126700 | HyVision System | PairCorr |
| 0.92 | 290670 | Daebo Magnetic CoLtd | PairCorr |
The ability to find closely correlated positions to Cheryong Electric could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cheryong Electric 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 Cheryong Electric - 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 Cheryong Electric CoLtd to buy it.
The correlation of Cheryong Electric 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 Cheryong Electric moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cheryong Electric CoLtd 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 Cheryong Electric 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 Cheryong Stock
Cheryong Electric financial ratios help investors to determine whether Cheryong 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 Cheryong with respect to the benefits of owning Cheryong Electric security.