476810 (Korea) Market Value
| 476810 Etf | 10,380 10.00 0.1% |
| Symbol | 476810 |
476810 '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 476810's etf 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 476810.
| 01/02/2023 |
| 12/22/2024 |
If you would invest 0.00 in 476810 on January 2, 2023 and sell it all today you would earn a total of 0.00 from holding 476810 or generate 0.0% return on investment in 476810 over 720 days.
476810 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 476810's etf 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 476810 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.0656 | |||
| Information Ratio | (0.30) | |||
| Maximum Drawdown | 0.2415 | |||
| Value At Risk | (0.05) | |||
| Potential Upside | 0.0971 |
476810 Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for 476810's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as 476810's standard deviation. In reality, there are many statistical measures that can use 476810 historical prices to predict the future 476810's volatility.| Risk Adjusted Performance | 0.1004 | |||
| Jensen Alpha | 0.0059 | |||
| Total Risk Alpha | 0.0046 | |||
| Sortino Ratio | (0.24) | |||
| Treynor Ratio | 0.5047 |
476810 Backtested Returns
At this point, 476810 is very steady. 476810 retains Efficiency (Sharpe Ratio) of 0.3, which signifies that the etf had a 0.3% return per unit of price deviation over the last 3 months. We have found twenty-eight technical indicators for 476810, which you can use to evaluate the volatility of the entity. Please confirm 476810's Market Risk Adjusted Performance of 0.5147, standard deviation of 0.054, and Variance of 0.0029 to double-check if the risk estimate we provide is consistent with the expected return of 0.0162%. The entity owns a Beta (Systematic Risk) of 0.0122, which signifies not very significant fluctuations relative to the market. As returns on the market increase, 476810's returns are expected to increase less than the market. However, during the bear market, the loss of holding 476810 is expected to be smaller as well.
Auto-correlation | 0.00 |
No correlation between past and present
476810 has no correlation between past and present. Overlapping area represents the amount of predictability between 476810 time series from 2nd of January 2023 to 28th of December 2023 and 28th of December 2023 to 22nd 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 476810 price movement. The serial correlation of 0.0 indicates that just 0.0% of current 476810 price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.0 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
476810 lagged returns against current returns
Autocorrelation, which is 476810 etf'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 476810's etf expected returns. We can calculate the autocorrelation of 476810 returns to help us make a trade decision. For example, suppose you find that 476810 has exhibited high autocorrelation historically, and you observe that the etf 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 |
476810 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 476810 etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if 476810 etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in 476810 etf over time.
Current vs Lagged Prices |
| Timeline |
476810 Lagged Returns
When evaluating 476810's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of 476810 etf have on its future price. 476810 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, 476810 autocorrelation shows the relationship between 476810 etf current value and its past values and can show if there is a momentum factor associated with investing in 476810.
Regressed Prices |
| Timeline |
Pair Trading with 476810
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 476810 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 476810 will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to 476810 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 476810 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 476810 - 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 476810 to buy it.
The correlation of 476810 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 476810 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 476810 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 476810 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.