Genie Music (Korea) Market Value
| 043610 Stock | KRW 2,165 45.00 2.04% |
| Symbol | Genie |
Genie Music '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 Genie Music'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 Genie Music.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Genie Music on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Genie Music or generate 0.0% return on investment in Genie Music over 180 days. Genie Music is related to or competes with AfreecaTV, Seegene, SS TECH, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. Genie Music Corporation engages in wired and wireless Internet music services, content planning, and distribution busine... More
Genie Music 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 Genie Music'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 Genie Music upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 19.73 | |||
| Value At Risk | (4.69) | |||
| Potential Upside | 4.84 |
Genie Music Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Genie Music's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Genie Music's standard deviation. In reality, there are many statistical measures that can use Genie Music historical prices to predict the future Genie Music's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | 0.0036 | |||
| Total Risk Alpha | (0.63) | |||
| Treynor Ratio | 0.1226 |
Genie Music Backtested Returns
Genie Music holds Efficiency (Sharpe) Ratio of -0.0064, which attests that the entity had a -0.0064% return per unit of risk over the last 3 months. Genie Music exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Genie Music's Risk Adjusted Performance of (0.01), market risk adjusted performance of 0.1326, and Standard Deviation of 3.22 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.71, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Genie Music are expected to decrease at a much lower rate. During the bear market, Genie Music is likely to outperform the market. At this point, Genie Music has a negative expected return of -0.0215%. Please make sure to check out Genie Music's coefficient of variation, jensen alpha, treynor ratio, as well as the relationship between the standard deviation and total risk alpha , to decide if Genie Music performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.39 |
Below average predictability
Genie Music has below average predictability. Overlapping area represents the amount of predictability between Genie Music time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Genie Music price movement. The serial correlation of 0.39 indicates that just about 39.0% of current Genie Music price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.39 | |
| Spearman Rank Test | 0.22 | |
| Residual Average | 0.0 | |
| Price Variance | 26.4 K |
Genie Music lagged returns against current returns
Autocorrelation, which is Genie Music 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 Genie Music's stock expected returns. We can calculate the autocorrelation of Genie Music returns to help us make a trade decision. For example, suppose you find that Genie Music 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 |
Genie Music 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 Genie Music stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Genie Music stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Genie Music stock over time.
Current vs Lagged Prices |
| Timeline |
Genie Music Lagged Returns
When evaluating Genie Music's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Genie Music stock have on its future price. Genie Music 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, Genie Music autocorrelation shows the relationship between Genie Music stock current value and its past values and can show if there is a momentum factor associated with investing in Genie Music.
Regressed Prices |
| Timeline |
Pair Trading with Genie Music
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 Genie Music 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 Genie Music will appreciate offsetting losses from the drop in the long position's value.Moving against Genie Stock
The ability to find closely correlated positions to Genie Music could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Genie Music 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 Genie Music - 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 Genie Music to buy it.
The correlation of Genie Music 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 Genie Music moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Genie Music 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 Genie Music 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 Genie Stock
Genie Music financial ratios help investors to determine whether Genie 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 Genie with respect to the benefits of owning Genie Music security.