Innometry (Korea) Market Value
| 302430 Stock | KRW 8,020 100.00 1.23% |
| Symbol | Innometry |
Innometry '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 Innometry'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 Innometry.
| 10/29/2024 |
| 11/28/2024 |
If you would invest 0.00 in Innometry on October 29, 2024 and sell it all today you would earn a total of 0.00 from holding Innometry Co or generate 0.0% return on investment in Innometry over 30 days. Innometry is related to or competes with INtRON Biotechnology, BGF Retail, Digital Power, GS Retail, Dongbu Insurance, and DB Insurance. Innometry Co., Ltd. manufactures and sells X-ray inspection systems in South Korea More
Innometry 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 Innometry'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 Innometry Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 13.14 | |||
| Value At Risk | (4.28) | |||
| Potential Upside | 3.86 |
Innometry Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Innometry's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Innometry's standard deviation. In reality, there are many statistical measures that can use Innometry historical prices to predict the future Innometry's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.38) | |||
| Total Risk Alpha | (0.79) | |||
| Treynor Ratio | 5.32 |
Innometry Backtested Returns
Innometry holds Efficiency (Sharpe) Ratio of -0.16, which attests that the entity had a -0.16% return per unit of risk over the last 3 months. Innometry exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Innometry's Market Risk Adjusted Performance of 5.33, risk adjusted performance of (0.11), and Standard Deviation of 2.62 to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of -0.0739, which attests to not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Innometry are expected to decrease at a much lower rate. During the bear market, Innometry is likely to outperform the market. At this point, Innometry has a negative expected return of -0.42%. Please make sure to check out Innometry's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Innometry performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.42 |
Modest reverse predictability
Innometry Co has modest reverse predictability. Overlapping area represents the amount of predictability between Innometry time series from 29th of October 2024 to 13th of November 2024 and 13th of November 2024 to 28th 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 Innometry price movement. The serial correlation of -0.42 indicates that just about 42.0% of current Innometry price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.42 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 30.5 K |
Innometry lagged returns against current returns
Autocorrelation, which is Innometry 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 Innometry's stock expected returns. We can calculate the autocorrelation of Innometry returns to help us make a trade decision. For example, suppose you find that Innometry 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 |
Innometry 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 Innometry stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Innometry stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Innometry stock over time.
Current vs Lagged Prices |
| Timeline |
Innometry Lagged Returns
When evaluating Innometry's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Innometry stock have on its future price. Innometry 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, Innometry autocorrelation shows the relationship between Innometry stock current value and its past values and can show if there is a momentum factor associated with investing in Innometry Co.
Regressed Prices |
| Timeline |
Pair Trading with Innometry
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 Innometry 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 Innometry will appreciate offsetting losses from the drop in the long position's value.Moving together with Innometry Stock
Moving against Innometry Stock
The ability to find closely correlated positions to Innometry could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innometry 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 Innometry - 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 Innometry Co to buy it.
The correlation of Innometry 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 Innometry moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Innometry 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 Innometry 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 Innometry Stock
Innometry financial ratios help investors to determine whether Innometry 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 Innometry with respect to the benefits of owning Innometry security.