Top Material (Korea) Market Value
| 360070 Stock | 28,900 1,300 4.30% |
| Symbol | Top |
Please note, there is a significant difference between Top Material's value and its price as these two are different measures arrived at by different means. Investors typically determine if Top Material is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Top Material's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Top Material '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 Top Material'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 Top Material.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Top Material on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Top Material Co or generate 0.0% return on investment in Top Material over 180 days. Top Material is related to or competes with Samsung Electronics, Samsung Electronics, LG Energy, SK Hynix, Samsung Biologics, LG Chem, and LG Chemicals. More
Top Material 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 Top Material'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 Top Material Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.24) | |||
| Maximum Drawdown | 14.85 | |||
| Value At Risk | (4.61) | |||
| Potential Upside | 4.77 |
Top Material Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Top Material's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Top Material's standard deviation. In reality, there are many statistical measures that can use Top Material historical prices to predict the future Top Material's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.58) | |||
| Total Risk Alpha | (1.09) | |||
| Treynor Ratio | 6.95 |
Top Material Backtested Returns
Top Material owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.2, which indicates the firm had a -0.2% return per unit of risk over the last 3 months. Top Material Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Top Material's Risk Adjusted Performance of (0.14), variance of 8.79, and Coefficient Of Variation of (506.76) to confirm the risk estimate we provide. The entity has a beta of -0.0856, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Top Material are expected to decrease at a much lower rate. During the bear market, Top Material is likely to outperform the market. At this point, Top Material has a negative expected return of -0.6%. Please make sure to validate Top Material's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Top Material performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.67 |
Good predictability
Top Material Co has good predictability. Overlapping area represents the amount of predictability between Top Material time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th 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 Top Material price movement. The serial correlation of 0.67 indicates that around 67.0% of current Top Material price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.67 | |
| Spearman Rank Test | 0.66 | |
| Residual Average | 0.0 | |
| Price Variance | 13.2 M |
Top Material lagged returns against current returns
Autocorrelation, which is Top Material 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 Top Material's stock expected returns. We can calculate the autocorrelation of Top Material returns to help us make a trade decision. For example, suppose you find that Top Material 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 |
Top Material 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 Top Material stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Top Material stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Top Material stock over time.
Current vs Lagged Prices |
| Timeline |
Top Material Lagged Returns
When evaluating Top Material's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Top Material stock have on its future price. Top Material 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, Top Material autocorrelation shows the relationship between Top Material stock current value and its past values and can show if there is a momentum factor associated with investing in Top Material Co.
Regressed Prices |
| Timeline |
Pair Trading with Top Material
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 Top Material 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 Top Material will appreciate offsetting losses from the drop in the long position's value.Moving together with Top Stock
Moving against Top Stock
The ability to find closely correlated positions to Top Material could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Top Material 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 Top Material - 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 Top Material Co to buy it.
The correlation of Top Material 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 Top Material moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Top Material 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 Top Material 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 Top Stock
Top Material financial ratios help investors to determine whether Top 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 Top with respect to the benefits of owning Top Material security.