Taekwang Ind (Korea) Market Value
| 003240 Stock | 624,000 4,000 0.64% |
| Symbol | Taekwang |
Taekwang Ind '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 Taekwang Ind'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 Taekwang Ind.
| 06/04/2024 |
| 12/01/2024 |
If you would invest 0.00 in Taekwang Ind on June 4, 2024 and sell it all today you would earn a total of 0.00 from holding Taekwang Ind or generate 0.0% return on investment in Taekwang Ind over 180 days. Taekwang Ind is related to or competes with Lotte Non, Woori Technology, Hanjin Transportation, Korean Reinsurance, Samsung Life, LG Household, and A Tech. More
Taekwang Ind 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 Taekwang Ind'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 Taekwang Ind upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.83 | |||
| Information Ratio | (0.02) | |||
| Maximum Drawdown | 12.12 | |||
| Value At Risk | (2.87) | |||
| Potential Upside | 3.28 |
Taekwang Ind Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Taekwang Ind's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Taekwang Ind's standard deviation. In reality, there are many statistical measures that can use Taekwang Ind historical prices to predict the future Taekwang Ind's volatility.| Risk Adjusted Performance | 0.0513 | |||
| Jensen Alpha | 0.1295 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | (0.02) | |||
| Treynor Ratio | (0.36) |
Taekwang Ind Backtested Returns
At this point, Taekwang Ind is very steady. Taekwang Ind owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0582, which indicates the firm had a 0.0582% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Taekwang Ind, which you can use to evaluate the volatility of the company. Please validate Taekwang Ind's Coefficient Of Variation of 1677.5, semi deviation of 1.62, and Risk Adjusted Performance of 0.0513 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. Taekwang Ind has a performance score of 4 on a scale of 0 to 100. The entity has a beta of -0.27, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Taekwang Ind are expected to decrease at a much lower rate. During the bear market, Taekwang Ind is likely to outperform the market. Taekwang Ind right now has a risk of 1.84%. Please validate Taekwang Ind mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Taekwang Ind will be following its existing price patterns.
Auto-correlation | -0.41 |
Modest reverse predictability
Taekwang Ind has modest reverse predictability. Overlapping area represents the amount of predictability between Taekwang Ind time series from 4th of June 2024 to 2nd of September 2024 and 2nd of September 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 Taekwang Ind price movement. The serial correlation of -0.41 indicates that just about 41.0% of current Taekwang Ind price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.41 | |
| Spearman Rank Test | -0.16 | |
| Residual Average | 0.0 | |
| Price Variance | 666.1 M |
Taekwang Ind lagged returns against current returns
Autocorrelation, which is Taekwang Ind 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 Taekwang Ind's stock expected returns. We can calculate the autocorrelation of Taekwang Ind returns to help us make a trade decision. For example, suppose you find that Taekwang Ind 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 |
Taekwang Ind 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 Taekwang Ind stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Taekwang Ind stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Taekwang Ind stock over time.
Current vs Lagged Prices |
| Timeline |
Taekwang Ind Lagged Returns
When evaluating Taekwang Ind's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Taekwang Ind stock have on its future price. Taekwang Ind 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, Taekwang Ind autocorrelation shows the relationship between Taekwang Ind stock current value and its past values and can show if there is a momentum factor associated with investing in Taekwang Ind.
Regressed Prices |
| Timeline |
Pair Trading with Taekwang Ind
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 Taekwang Ind 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 Taekwang Ind will appreciate offsetting losses from the drop in the long position's value.Moving against Taekwang Stock
| 0.75 | 005930 | Samsung Electronics | PairCorr |
| 0.73 | 005935 | Samsung Electronics | PairCorr |
| 0.47 | 009830 | Hanwha Solutions | PairCorr |
| 0.34 | 005380 | Hyundai Motor | PairCorr |
The ability to find closely correlated positions to Taekwang Ind could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Taekwang Ind 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 Taekwang Ind - 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 Taekwang Ind to buy it.
The correlation of Taekwang Ind 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 Taekwang Ind moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Taekwang Ind 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 Taekwang Ind 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 Taekwang Stock
Taekwang Ind financial ratios help investors to determine whether Taekwang 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 Taekwang with respect to the benefits of owning Taekwang Ind security.