WONIK Materials (Korea) Market Value
| 104830 Stock | 18,280 280.00 1.51% |
| Symbol | WONIK |
WONIK Materials '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 WONIK Materials' 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 WONIK Materials.
| 11/19/2023 |
| 12/13/2024 |
If you would invest 0.00 in WONIK Materials on November 19, 2023 and sell it all today you would earn a total of 0.00 from holding WONIK Materials CoLtd or generate 0.0% return on investment in WONIK Materials over 390 days. WONIK Materials is related to or competes with Soulbrain Holdings, Wonik Ips, TES Co, Suprema, and Dongjin Semichem. More
WONIK Materials 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 WONIK Materials' 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 WONIK Materials CoLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.25) | |||
| Maximum Drawdown | 10.03 | |||
| Value At Risk | (4.65) | |||
| Potential Upside | 3.75 |
WONIK Materials Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for WONIK Materials' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as WONIK Materials' standard deviation. In reality, there are many statistical measures that can use WONIK Materials historical prices to predict the future WONIK Materials' volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.53) | |||
| Total Risk Alpha | (0.90) | |||
| Treynor Ratio | 11.73 |
WONIK Materials CoLtd Backtested Returns
WONIK Materials CoLtd shows Sharpe Ratio of -0.17, which attests that the company had a -0.17% return per unit of standard deviation over the last 3 months. WONIK Materials CoLtd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out WONIK Materials' Mean Deviation of 2.04, standard deviation of 2.55, and Risk Adjusted Performance of (0.14) to validate the risk estimate we provide. The firm maintains a market beta of -0.0459, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning WONIK Materials are expected to decrease at a much lower rate. During the bear market, WONIK Materials is likely to outperform the market. At this point, WONIK Materials CoLtd has a negative expected return of -0.43%. Please make sure to check out WONIK Materials' jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if WONIK Materials CoLtd performance from the past will be repeated at some future point.
Auto-correlation | -0.89 |
Excellent reverse predictability
WONIK Materials CoLtd has excellent reverse predictability. Overlapping area represents the amount of predictability between WONIK Materials time series from 19th of November 2023 to 1st of June 2024 and 1st of June 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 WONIK Materials CoLtd price movement. The serial correlation of -0.89 indicates that approximately 89.0% of current WONIK Materials price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.89 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 35.3 M |
WONIK Materials CoLtd lagged returns against current returns
Autocorrelation, which is WONIK Materials 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 WONIK Materials' stock expected returns. We can calculate the autocorrelation of WONIK Materials returns to help us make a trade decision. For example, suppose you find that WONIK Materials 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 |
WONIK Materials 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 WONIK Materials stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if WONIK Materials stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in WONIK Materials stock over time.
Current vs Lagged Prices |
| Timeline |
WONIK Materials Lagged Returns
When evaluating WONIK Materials' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of WONIK Materials stock have on its future price. WONIK Materials 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, WONIK Materials autocorrelation shows the relationship between WONIK Materials stock current value and its past values and can show if there is a momentum factor associated with investing in WONIK Materials CoLtd.
Regressed Prices |
| Timeline |
Pair Trading with WONIK Materials
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 WONIK Materials 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 WONIK Materials will appreciate offsetting losses from the drop in the long position's value.Moving together with WONIK Stock
| 0.79 | 051910 | LG Chemicals | PairCorr |
| 0.89 | 005490 | POSCO Holdings | PairCorr |
| 0.97 | 009830 | Hanwha Solutions | PairCorr |
| 0.67 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.76 | 004020 | Hyundai Steel | PairCorr |
Moving against WONIK Stock
The ability to find closely correlated positions to WONIK Materials could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WONIK Materials 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 WONIK Materials - 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 WONIK Materials CoLtd to buy it.
The correlation of WONIK Materials 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 WONIK Materials moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WONIK Materials 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 WONIK Materials 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 WONIK Stock
WONIK Materials financial ratios help investors to determine whether WONIK 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 WONIK with respect to the benefits of owning WONIK Materials security.