Ray Co (Korea) Market Value
| 228670 Stock | KRW 5,880 480.00 8.89% |
| Symbol | Ray |
Ray Co '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 Ray Co'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 Ray Co.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Ray Co on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Ray Co or generate 0.0% return on investment in Ray Co over 30 days. Ray Co is related to or competes with Seoul Electronics, Lindeman Asia, Golden Bridge, Miwon Chemicals, Seoul Semiconductor, NH Investment, and SV Investment. RAY Co., Ltd. provides x-ray imaging solutions in the dental and medical industry More
Ray Co 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 Ray Co'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 Ray Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.21) | |||
| Maximum Drawdown | 17.68 | |||
| Value At Risk | (5.39) | |||
| Potential Upside | 4.13 |
Ray Co Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ray Co's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ray Co's standard deviation. In reality, there are many statistical measures that can use Ray Co historical prices to predict the future Ray Co's volatility.| Risk Adjusted Performance | (0.12) | |||
| Jensen Alpha | (0.51) | |||
| Total Risk Alpha | (1.13) | |||
| Treynor Ratio | 0.8694 |
Ray Co Backtested Returns
Ray Co maintains Sharpe Ratio (i.e., Efficiency) of -0.14, which implies the firm had a -0.14% return per unit of risk over the last 3 months. Ray Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Ray Co's Variance of 11.5, coefficient of variation of (586.93), and Risk Adjusted Performance of (0.12) to confirm the risk estimate we provide. The company holds a Beta of -0.68, which implies possible diversification benefits within a given portfolio. As returns on the market increase, returns on owning Ray Co are expected to decrease at a much lower rate. During the bear market, Ray Co is likely to outperform the market. At this point, Ray Co has a negative expected return of -0.49%. Please make sure to check Ray Co's maximum drawdown, potential upside, kurtosis, as well as the relationship between the value at risk and skewness , to decide if Ray Co performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.69 |
Good predictability
Ray Co has good predictability. Overlapping area represents the amount of predictability between Ray Co time series from 12th of November 2024 to 27th of November 2024 and 27th of November 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 Ray Co price movement. The serial correlation of 0.69 indicates that around 69.0% of current Ray Co price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.75 | |
| Residual Average | 0.0 | |
| Price Variance | 76.1 K |
Ray Co lagged returns against current returns
Autocorrelation, which is Ray Co 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 Ray Co's stock expected returns. We can calculate the autocorrelation of Ray Co returns to help us make a trade decision. For example, suppose you find that Ray Co 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 |
Ray Co 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 Ray Co stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ray Co stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ray Co stock over time.
Current vs Lagged Prices |
| Timeline |
Ray Co Lagged Returns
When evaluating Ray Co's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ray Co stock have on its future price. Ray Co 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, Ray Co autocorrelation shows the relationship between Ray Co stock current value and its past values and can show if there is a momentum factor associated with investing in Ray Co.
Regressed Prices |
| Timeline |
Pair Trading with Ray Co
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 Ray Co 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 Ray Co will appreciate offsetting losses from the drop in the long position's value.Moving together with Ray Stock
Moving against Ray Stock
The ability to find closely correlated positions to Ray Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ray Co 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 Ray Co - 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 Ray Co to buy it.
The correlation of Ray Co 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 Ray Co moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ray Co 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 Ray Co 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 Ray Stock
Ray Co financial ratios help investors to determine whether Ray 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 Ray with respect to the benefits of owning Ray Co security.