Cloud Air (Korea) Market Value
| 036170 Stock | KRW 859.00 28.00 3.37% |
| Symbol | Cloud |
Cloud Air '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 Cloud Air'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 Cloud Air.
| 05/23/2023 |
| 12/13/2024 |
If you would invest 0.00 in Cloud Air on May 23, 2023 and sell it all today you would earn a total of 0.00 from holding Cloud Air CoLtd or generate 0.0% return on investment in Cloud Air over 570 days. Cloud Air is related to or competes with SK Hynix, People Technology, Hana Materials, SIMMTECH, GemVaxKAEL CoLtd, and SS TECH. ,Ltd. engages in manufacturing and selling light emitting diode packagesmodules in South Korea More
Cloud Air 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 Cloud Air'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 Cloud Air CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 6.05 | |||
| Value At Risk | (3.20) | |||
| Potential Upside | 2.37 |
Cloud Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cloud Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cloud Air's standard deviation. In reality, there are many statistical measures that can use Cloud Air historical prices to predict the future Cloud Air's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.16) | |||
| Total Risk Alpha | (0.40) | |||
| Treynor Ratio | 1.32 |
Cloud Air CoLtd Backtested Returns
Cloud Air CoLtd secures Sharpe Ratio (or Efficiency) of -0.0487, which signifies that the company had a -0.0487% return per unit of risk over the last 3 months. Cloud Air CoLtd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cloud Air's Standard Deviation of 1.67, risk adjusted performance of (0.06), and Mean Deviation of 1.21 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.13, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Cloud Air are expected to decrease at a much lower rate. During the bear market, Cloud Air is likely to outperform the market. At this point, Cloud Air CoLtd has a negative expected return of -0.0832%. Please make sure to confirm Cloud Air's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Cloud Air CoLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.34 |
Below average predictability
Cloud Air CoLtd has below average predictability. Overlapping area represents the amount of predictability between Cloud Air time series from 23rd of May 2023 to 3rd of March 2024 and 3rd of March 2024 to 13th 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 Cloud Air CoLtd price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Cloud Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.21 | |
| Residual Average | 0.0 | |
| Price Variance | 2718.81 |
Cloud Air CoLtd lagged returns against current returns
Autocorrelation, which is Cloud Air 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 Cloud Air's stock expected returns. We can calculate the autocorrelation of Cloud Air returns to help us make a trade decision. For example, suppose you find that Cloud Air 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 |
Cloud Air 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 Cloud Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cloud Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cloud Air stock over time.
Current vs Lagged Prices |
| Timeline |
Cloud Air Lagged Returns
When evaluating Cloud Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cloud Air stock have on its future price. Cloud Air 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, Cloud Air autocorrelation shows the relationship between Cloud Air stock current value and its past values and can show if there is a momentum factor associated with investing in Cloud Air CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with Cloud Air
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 Cloud Air 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 Cloud Air will appreciate offsetting losses from the drop in the long position's value.Moving together with Cloud Stock
| 0.77 | 108320 | LX Semicon | PairCorr |
| 0.82 | 064760 | Tokai Carbon Korea | PairCorr |
| 0.65 | 137400 | People Technology | PairCorr |
| 0.79 | 166090 | Hana Materials | PairCorr |
The ability to find closely correlated positions to Cloud Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cloud Air 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 Cloud Air - 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 Cloud Air CoLtd to buy it.
The correlation of Cloud Air 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 Cloud Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cloud Air 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 Cloud Air 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 Cloud Stock
Cloud Air financial ratios help investors to determine whether Cloud 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 Cloud with respect to the benefits of owning Cloud Air security.