Fine Semitech (Korea) Market Value
| 036810 Stock | KRW 16,200 130.00 0.80% |
| Symbol | Fine |
Fine Semitech '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 Fine Semitech'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 Fine Semitech.
| 06/29/2024 |
| 12/26/2024 |
If you would invest 0.00 in Fine Semitech on June 29, 2024 and sell it all today you would earn a total of 0.00 from holding Fine Semitech Corp or generate 0.0% return on investment in Fine Semitech over 180 days. Fine Semitech is related to or competes with Dongsin Engineering, Doosan Fuel, Daishin Balance, Total Soft, AptaBio Therapeutics, ASTORY CoLtd, and Daewoo SBI. Fine Semitech Corp. develops and supplies products to semiconductor and FPD industries in South Korea and internationall... More
Fine Semitech 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 Fine Semitech'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 Fine Semitech Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.14) | |||
| Maximum Drawdown | 17.23 | |||
| Value At Risk | (5.16) | |||
| Potential Upside | 5.51 |
Fine Semitech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Fine Semitech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Fine Semitech's standard deviation. In reality, there are many statistical measures that can use Fine Semitech historical prices to predict the future Fine Semitech's volatility.| Risk Adjusted Performance | (0.09) | |||
| Jensen Alpha | (0.44) | |||
| Total Risk Alpha | (0.59) | |||
| Treynor Ratio | 2.47 |
Fine Semitech Corp Backtested Returns
Fine Semitech Corp secures Sharpe Ratio (or Efficiency) of -0.14, which denotes the company had a -0.14% return per unit of risk over the last 3 months. Fine Semitech Corp exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Fine Semitech's Variance of 11.65, standard deviation of 3.41, and Mean Deviation of 2.7 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.18, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Fine Semitech are expected to decrease at a much lower rate. During the bear market, Fine Semitech is likely to outperform the market. At this point, Fine Semitech Corp has a negative expected return of -0.48%. Please make sure to confirm Fine Semitech's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Fine Semitech Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.89 |
Very good predictability
Fine Semitech Corp has very good predictability. Overlapping area represents the amount of predictability between Fine Semitech time series from 29th of June 2024 to 27th of September 2024 and 27th of September 2024 to 26th 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 Fine Semitech Corp price movement. The serial correlation of 0.89 indicates that approximately 89.0% of current Fine Semitech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.89 | |
| Spearman Rank Test | 0.84 | |
| Residual Average | 0.0 | |
| Price Variance | 3.9 M |
Fine Semitech Corp lagged returns against current returns
Autocorrelation, which is Fine Semitech 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 Fine Semitech's stock expected returns. We can calculate the autocorrelation of Fine Semitech returns to help us make a trade decision. For example, suppose you find that Fine Semitech 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 |
Fine Semitech 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 Fine Semitech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Fine Semitech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Fine Semitech stock over time.
Current vs Lagged Prices |
| Timeline |
Fine Semitech Lagged Returns
When evaluating Fine Semitech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Fine Semitech stock have on its future price. Fine Semitech 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, Fine Semitech autocorrelation shows the relationship between Fine Semitech stock current value and its past values and can show if there is a momentum factor associated with investing in Fine Semitech Corp.
Regressed Prices |
| Timeline |
Pair Trading with Fine Semitech
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 Fine Semitech 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 Fine Semitech will appreciate offsetting losses from the drop in the long position's value.Moving together with Fine Stock
| 0.91 | 005930 | Samsung Electronics | PairCorr |
| 0.88 | 005935 | Samsung Electronics | PairCorr |
| 0.88 | 034730 | SK Holdings | PairCorr |
| 0.92 | 005490 | POSCO Holdings | PairCorr |
Moving against Fine Stock
| 0.85 | 122870 | YG Entertainment | PairCorr |
| 0.76 | 012330 | Hyundai Mobis | PairCorr |
| 0.69 | 078160 | MEDIPOST | PairCorr |
| 0.65 | 032640 | LG Uplus | PairCorr |
| 0.59 | 065660 | AnterogenCoLtd | PairCorr |
The ability to find closely correlated positions to Fine Semitech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fine Semitech 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 Fine Semitech - 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 Fine Semitech Corp to buy it.
The correlation of Fine Semitech 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 Fine Semitech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fine Semitech Corp 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 Fine Semitech 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 Fine Stock
Fine Semitech financial ratios help investors to determine whether Fine 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 Fine with respect to the benefits of owning Fine Semitech security.