Narae Nanotech (Korea) Market Value
| 137080 Stock | 3,265 140.00 4.48% |
| Symbol | Narae |
Narae Nanotech '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 Narae Nanotech'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 Narae Nanotech.
| 12/23/2022 |
| 12/12/2024 |
If you would invest 0.00 in Narae Nanotech on December 23, 2022 and sell it all today you would earn a total of 0.00 from holding Narae Nanotech Corp or generate 0.0% return on investment in Narae Nanotech over 720 days. Narae Nanotech is related to or competes with HyVision System, Daebo Magnetic, Vitzro Tech, Busan Industrial, Sam Chun, Humax, and Finebesteel. More
Narae Nanotech 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 Narae Nanotech'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 Narae Nanotech Corp upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.15) | |||
| Maximum Drawdown | 11.87 | |||
| Value At Risk | (5.18) | |||
| Potential Upside | 4.48 |
Narae Nanotech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Narae Nanotech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Narae Nanotech's standard deviation. In reality, there are many statistical measures that can use Narae Nanotech historical prices to predict the future Narae Nanotech's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.28) | |||
| Total Risk Alpha | (0.74) | |||
| Treynor Ratio | 1.74 |
Narae Nanotech Corp Backtested Returns
Narae Nanotech Corp has Sharpe Ratio of -0.0823, which conveys that the firm had a -0.0823% return per unit of risk over the last 3 months. Narae Nanotech exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Narae Nanotech's Risk Adjusted Performance of (0.07), standard deviation of 2.78, and Mean Deviation of 2.14 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.17, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Narae Nanotech are expected to decrease at a much lower rate. During the bear market, Narae Nanotech is likely to outperform the market. At this point, Narae Nanotech Corp has a negative expected return of -0.24%. Please make sure to verify Narae Nanotech's treynor ratio, value at risk, and the relationship between the total risk alpha and maximum drawdown , to decide if Narae Nanotech Corp performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.81 |
Very good predictability
Narae Nanotech Corp has very good predictability. Overlapping area represents the amount of predictability between Narae Nanotech time series from 23rd of December 2022 to 18th of December 2023 and 18th of December 2023 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 Narae Nanotech Corp price movement. The serial correlation of 0.81 indicates that around 81.0% of current Narae Nanotech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.81 | |
| Spearman Rank Test | 0.56 | |
| Residual Average | 0.0 | |
| Price Variance | 2.1 M |
Narae Nanotech Corp lagged returns against current returns
Autocorrelation, which is Narae Nanotech 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 Narae Nanotech's stock expected returns. We can calculate the autocorrelation of Narae Nanotech returns to help us make a trade decision. For example, suppose you find that Narae Nanotech 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 |
Narae Nanotech 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 Narae Nanotech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Narae Nanotech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Narae Nanotech stock over time.
Current vs Lagged Prices |
| Timeline |
Narae Nanotech Lagged Returns
When evaluating Narae Nanotech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Narae Nanotech stock have on its future price. Narae Nanotech 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, Narae Nanotech autocorrelation shows the relationship between Narae Nanotech stock current value and its past values and can show if there is a momentum factor associated with investing in Narae Nanotech Corp.
Regressed Prices |
| Timeline |
Pair Trading with Narae Nanotech
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 Narae Nanotech 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 Narae Nanotech will appreciate offsetting losses from the drop in the long position's value.Moving together with Narae Stock
Moving against Narae Stock
The ability to find closely correlated positions to Narae Nanotech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Narae Nanotech 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 Narae Nanotech - 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 Narae Nanotech Corp to buy it.
The correlation of Narae Nanotech 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 Narae Nanotech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Narae Nanotech 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 Narae Nanotech 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 Narae Stock
Narae Nanotech financial ratios help investors to determine whether Narae 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 Narae with respect to the benefits of owning Narae Nanotech security.