Digital Multimedia (Korea) Market Value
| 134580 Stock | 1,508 18.00 1.21% |
| Symbol | Digital |
Digital Multimedia '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 Digital Multimedia'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 Digital Multimedia.
| 09/13/2024 |
| 12/12/2024 |
If you would invest 0.00 in Digital Multimedia on September 13, 2024 and sell it all today you would earn a total of 0.00 from holding Digital Multimedia Technology or generate 0.0% return on investment in Digital Multimedia over 90 days. Digital Multimedia is related to or competes with Samsung Electronics, Samsung Electronics, SK Hynix, POSCO Holdings, HMM, Hyundai, and Hyundai. More
Digital Multimedia 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 Digital Multimedia'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 Digital Multimedia Technology upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.27) | |||
| Maximum Drawdown | 15.78 | |||
| Value At Risk | (6.60) | |||
| Potential Upside | 3.18 |
Digital Multimedia Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Digital Multimedia's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Digital Multimedia's standard deviation. In reality, there are many statistical measures that can use Digital Multimedia historical prices to predict the future Digital Multimedia's volatility.| Risk Adjusted Performance | (0.16) | |||
| Jensen Alpha | (0.76) | |||
| Total Risk Alpha | (1.15) | |||
| Treynor Ratio | (0.98) |
Digital Multimedia Backtested Returns
Digital Multimedia secures Sharpe Ratio (or Efficiency) of -0.21, which denotes the company had a -0.21% return per unit of risk over the last 3 months. Digital Multimedia Technology exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Digital Multimedia's Mean Deviation of 2.05, standard deviation of 2.96, and Variance of 8.74 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.7, which means possible diversification benefits within a given portfolio. As returns on the market increase, Digital Multimedia's returns are expected to increase less than the market. However, during the bear market, the loss of holding Digital Multimedia is expected to be smaller as well. At this point, Digital Multimedia has a negative expected return of -0.63%. Please make sure to confirm Digital Multimedia's market risk adjusted performance, coefficient of variation, jensen alpha, as well as the relationship between the mean deviation and standard deviation , to decide if Digital Multimedia performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.15 |
Insignificant reverse predictability
Digital Multimedia Technology has insignificant reverse predictability. Overlapping area represents the amount of predictability between Digital Multimedia time series from 13th of September 2024 to 28th of October 2024 and 28th of October 2024 to 12th 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 Digital Multimedia price movement. The serial correlation of -0.15 indicates that less than 15.0% of current Digital Multimedia price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.15 | |
| Spearman Rank Test | -0.39 | |
| Residual Average | 0.0 | |
| Price Variance | 12.1 K |
Digital Multimedia lagged returns against current returns
Autocorrelation, which is Digital Multimedia 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 Digital Multimedia's stock expected returns. We can calculate the autocorrelation of Digital Multimedia returns to help us make a trade decision. For example, suppose you find that Digital Multimedia 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 |
Digital Multimedia 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 Digital Multimedia stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Digital Multimedia stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Digital Multimedia stock over time.
Current vs Lagged Prices |
| Timeline |
Digital Multimedia Lagged Returns
When evaluating Digital Multimedia's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Digital Multimedia stock have on its future price. Digital Multimedia 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, Digital Multimedia autocorrelation shows the relationship between Digital Multimedia stock current value and its past values and can show if there is a momentum factor associated with investing in Digital Multimedia Technology.
Regressed Prices |
| Timeline |
Pair Trading with Digital Multimedia
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 Digital Multimedia 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 Digital Multimedia will appreciate offsetting losses from the drop in the long position's value.Moving together with Digital Stock
| 0.89 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.78 | 215480 | Daewoo SBI SPAC | PairCorr |
| 0.92 | 302430 | Innometry | PairCorr |
The ability to find closely correlated positions to Digital Multimedia could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Digital Multimedia 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 Digital Multimedia - 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 Digital Multimedia Technology to buy it.
The correlation of Digital Multimedia 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 Digital Multimedia moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Digital Multimedia 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 Digital Multimedia 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 Digital Stock
Digital Multimedia financial ratios help investors to determine whether Digital 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 Digital with respect to the benefits of owning Digital Multimedia security.