JLK's market value is the price at which a share of JLK trades on a public exchange. It measures the collective expectations of JLK Inc investors about its performance. JLK is trading at 7760.00 as of the 28th of December 2024, a 1.9 percent decrease since the beginning of the trading day. The stock's open price was 7910.0. With this module, you can estimate the performance of a buy and hold strategy of JLK Inc and determine expected loss or profit from investing in JLK over a given investment horizon. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.
Symbol
JLK
JLK '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 JLK'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 JLK.
0.00
07/01/2024
No Change 0.00
0.0
In 5 months and 30 days
12/28/2024
0.00
If you would invest 0.00 in JLK on July 1, 2024 and sell it all today you would earn a total of 0.00 from holding JLK Inc or generate 0.0% return on investment in JLK over 180 days.
JLK 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 JLK'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 JLK Inc upside and downside potential and time the market with a certain degree of confidence.
Today, many novice investors tend to focus exclusively on investment returns with little concern for JLK's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as JLK's standard deviation. In reality, there are many statistical measures that can use JLK historical prices to predict the future JLK's volatility.
JLK Inc holds Efficiency (Sharpe) Ratio of -0.15, which attests that the entity had a -0.15% return per unit of risk over the last 3 months. JLK Inc exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out JLK's Market Risk Adjusted Performance of (3.83), coefficient of variation of (1,326), and Risk Adjusted Performance of (0.05) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 0.0987, which attests to not very significant fluctuations relative to the market. As returns on the market increase, JLK's returns are expected to increase less than the market. However, during the bear market, the loss of holding JLK is expected to be smaller as well. At this point, JLK Inc has a negative expected return of -0.7%. Please make sure to check out JLK's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if JLK Inc performance from the past will be repeated at future time.
Auto-correlation
0.13
Insignificant predictability
JLK Inc has insignificant predictability. Overlapping area represents the amount of predictability between JLK time series from 1st of July 2024 to 29th of September 2024 and 29th of September 2024 to 28th 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 JLK Inc price movement. The serial correlation of 0.13 indicates that less than 13.0% of current JLK price fluctuation can be explain by its past prices.
Correlation Coefficient
0.13
Spearman Rank Test
0.03
Residual Average
0.0
Price Variance
3 M
JLK Inc lagged returns against current returns
Autocorrelation, which is JLK 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 JLK's stock expected returns. We can calculate the autocorrelation of JLK returns to help us make a trade decision. For example, suppose you find that JLK 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
JLK 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 JLK stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if JLK stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in JLK stock over time.
Current vs Lagged Prices
Timeline
JLK Lagged Returns
When evaluating JLK's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of JLK stock have on its future price. JLK 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, JLK autocorrelation shows the relationship between JLK stock current value and its past values and can show if there is a momentum factor associated with investing in JLK Inc.
Regressed Prices
Timeline
Pair Trading with JLK
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 JLK 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 JLK will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to JLK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JLK 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 JLK - 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 JLK Inc to buy it.
The correlation of JLK 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 JLK moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JLK Inc 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 JLK 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.