Cenit (Korea) Market Value
| 037760 Stock | KRW 1,461 14.00 0.95% |
| Symbol | Cenit |
Cenit '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 Cenit'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 Cenit.
| 09/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Cenit on September 29, 2024 and sell it all today you would earn a total of 0.00 from holding Cenit Co or generate 0.0% return on investment in Cenit over 60 days. Cenit is related to or competes with Jeju Air, Hanjin Transportation, Taegu Broadcasting, Korea Air, Korean Air, Neungyule Education, and CG Hi. Cenit Co., Ltd. manufactures and sells cold-rolled stainless-steel coils and straps in South Korea and internationally More
Cenit 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 Cenit'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 Cenit Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 7.77 | |||
| Value At Risk | (2.32) | |||
| Potential Upside | 2.38 |
Cenit Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Cenit's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Cenit's standard deviation. In reality, there are many statistical measures that can use Cenit historical prices to predict the future Cenit's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.23) | |||
| Treynor Ratio | (0.17) |
Cenit Backtested Returns
Cenit secures Sharpe Ratio (or Efficiency) of -0.0221, which signifies that the company had a -0.0221% return per unit of risk over the last 3 months. Cenit Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Cenit's Risk Adjusted Performance of (0.01), standard deviation of 1.32, and Mean Deviation of 0.9288 to double-check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, Cenit's returns are expected to increase less than the market. However, during the bear market, the loss of holding Cenit is expected to be smaller as well. At this point, Cenit has a negative expected return of -0.0267%. Please make sure to confirm Cenit's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Cenit performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.73 |
Almost perfect reverse predictability
Cenit Co has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Cenit time series from 29th of September 2024 to 29th of October 2024 and 29th of October 2024 to 28th 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 Cenit price movement. The serial correlation of -0.73 indicates that around 73.0% of current Cenit price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.73 | |
| Spearman Rank Test | -0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 1289.3 |
Cenit lagged returns against current returns
Autocorrelation, which is Cenit 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 Cenit's stock expected returns. We can calculate the autocorrelation of Cenit returns to help us make a trade decision. For example, suppose you find that Cenit 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 |
Cenit 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 Cenit stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Cenit stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Cenit stock over time.
Current vs Lagged Prices |
| Timeline |
Cenit Lagged Returns
When evaluating Cenit's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Cenit stock have on its future price. Cenit 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, Cenit autocorrelation shows the relationship between Cenit stock current value and its past values and can show if there is a momentum factor associated with investing in Cenit Co.
Regressed Prices |
| Timeline |
Pair Trading with Cenit
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 Cenit 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 Cenit will appreciate offsetting losses from the drop in the long position's value.Moving together with Cenit Stock
Moving against Cenit Stock
The ability to find closely correlated positions to Cenit could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cenit 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 Cenit - 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 Cenit Co to buy it.
The correlation of Cenit 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 Cenit moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cenit 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 Cenit 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 Cenit Stock
Cenit financial ratios help investors to determine whether Cenit 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 Cenit with respect to the benefits of owning Cenit security.