SK Bioscience (Korea) Market Value
| 302440 Stock | 47,100 2,000 4.07% |
| Symbol | 302440 |
SK Bioscience '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 SK Bioscience'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 SK Bioscience.
| 12/07/2023 |
| 12/01/2024 |
If you would invest 0.00 in SK Bioscience on December 7, 2023 and sell it all today you would earn a total of 0.00 from holding SK Bioscience Co or generate 0.0% return on investment in SK Bioscience over 360 days. SK Bioscience is related to or competes with Shinsegae Information, Eagon Industrial, Nable Communications, Nice Information, PJ Metal, Daiyang Metal, and Automobile. More
SK Bioscience 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 SK Bioscience'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 SK Bioscience Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.16) | |||
| Maximum Drawdown | 12.17 | |||
| Value At Risk | (3.79) | |||
| Potential Upside | 4.11 |
SK Bioscience Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for SK Bioscience's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as SK Bioscience's standard deviation. In reality, there are many statistical measures that can use SK Bioscience historical prices to predict the future SK Bioscience's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.27) | |||
| Total Risk Alpha | (0.69) | |||
| Treynor Ratio | 23.51 |
SK Bioscience Backtested Returns
SK Bioscience retains Efficiency (Sharpe Ratio) of -0.0732, which indicates the firm had a -0.0732% return per unit of price deviation over the last 3 months. SK Bioscience exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate SK Bioscience's Mean Deviation of 1.89, risk adjusted performance of (0.07), and Standard Deviation of 2.51 to confirm the risk estimate we provide. The entity owns a Beta (Systematic Risk) of -0.0115, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning SK Bioscience are expected to decrease at a much lower rate. During the bear market, SK Bioscience is likely to outperform the market. At this point, SK Bioscience has a negative expected return of -0.19%. Please make sure to validate SK Bioscience's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if SK Bioscience performance from the past will be repeated sooner or later.
Auto-correlation | 0.07 |
Virtually no predictability
SK Bioscience Co has virtually no predictability. Overlapping area represents the amount of predictability between SK Bioscience time series from 7th of December 2023 to 4th of June 2024 and 4th of June 2024 to 1st 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 SK Bioscience price movement. The serial correlation of 0.07 indicates that barely 7.0% of current SK Bioscience price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.07 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 8.9 M |
SK Bioscience lagged returns against current returns
Autocorrelation, which is SK Bioscience 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 SK Bioscience's stock expected returns. We can calculate the autocorrelation of SK Bioscience returns to help us make a trade decision. For example, suppose you find that SK Bioscience 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 |
SK Bioscience 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 SK Bioscience stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if SK Bioscience stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in SK Bioscience stock over time.
Current vs Lagged Prices |
| Timeline |
SK Bioscience Lagged Returns
When evaluating SK Bioscience's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of SK Bioscience stock have on its future price. SK Bioscience 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, SK Bioscience autocorrelation shows the relationship between SK Bioscience stock current value and its past values and can show if there is a momentum factor associated with investing in SK Bioscience Co.
Regressed Prices |
| Timeline |
Pair Trading with SK Bioscience
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 SK Bioscience 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 SK Bioscience will appreciate offsetting losses from the drop in the long position's value.Moving together with 302440 Stock
Moving against 302440 Stock
| 0.77 | 047810 | Korea Aerospace Indu | PairCorr |
| 0.61 | 003530 | Hanwha InvestmentSecuri | PairCorr |
| 0.34 | 105560 | KB Financial Group | PairCorr |
The ability to find closely correlated positions to SK Bioscience could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SK Bioscience 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 SK Bioscience - 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 SK Bioscience Co to buy it.
The correlation of SK Bioscience 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 SK Bioscience moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SK Bioscience 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 SK Bioscience 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 302440 Stock
SK Bioscience financial ratios help investors to determine whether 302440 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 302440 with respect to the benefits of owning SK Bioscience security.