Korea Air (Korea) Market Value
| 005430 Stock | 60,700 1,700 2.88% |
| Symbol | Korea |
Korea Air '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 Korea Air'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 Korea Air.
| 12/14/2022 |
| 12/03/2024 |
If you would invest 0.00 in Korea Air on December 14, 2022 and sell it all today you would earn a total of 0.00 from holding Korea Air Svc or generate 0.0% return on investment in Korea Air over 720 days. Korea Air is related to or competes with Ssangyong Information, Sejong Telecom, Kisan Telecom, Youl Chon, Seoul Electronics, Youngbo Chemical, and Kukdo Chemical. More
Korea Air 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 Korea Air'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 Korea Air Svc upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.94 | |||
| Information Ratio | 0.0156 | |||
| Maximum Drawdown | 9.77 | |||
| Value At Risk | (2.94) | |||
| Potential Upside | 4.87 |
Korea Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Korea Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Korea Air's standard deviation. In reality, there are many statistical measures that can use Korea Air historical prices to predict the future Korea Air's volatility.| Risk Adjusted Performance | 0.0595 | |||
| Jensen Alpha | 0.1135 | |||
| Total Risk Alpha | (0.20) | |||
| Sortino Ratio | 0.0187 | |||
| Treynor Ratio | 0.4643 |
Korea Air Svc Backtested Returns
Korea Air appears to be very steady, given 3 months investment horizon. Korea Air Svc has Sharpe Ratio of 0.16, which conveys that the firm had a 0.16% return per unit of risk over the last 3 months. We have found thirty technical indicators for Korea Air, which you can use to evaluate the volatility of the firm. Please exercise Korea Air's Mean Deviation of 1.84, downside deviation of 1.94, and Risk Adjusted Performance of 0.0595 to check out if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Korea Air holds a performance score of 12. The company secures a Beta (Market Risk) of 0.32, which conveys possible diversification benefits within a given portfolio. As returns on the market increase, Korea Air's returns are expected to increase less than the market. However, during the bear market, the loss of holding Korea Air is expected to be smaller as well. Please check Korea Air's coefficient of variation, jensen alpha, sortino ratio, as well as the relationship between the standard deviation and total risk alpha , to make a quick decision on whether Korea Air's current price movements will revert.
Auto-correlation | -0.5 |
Modest reverse predictability
Korea Air Svc has modest reverse predictability. Overlapping area represents the amount of predictability between Korea Air time series from 14th of December 2022 to 9th of December 2023 and 9th of December 2023 to 3rd 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 Korea Air Svc price movement. The serial correlation of -0.5 indicates that about 50.0% of current Korea Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.5 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 73.5 M |
Korea Air Svc lagged returns against current returns
Autocorrelation, which is Korea Air 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 Korea Air's stock expected returns. We can calculate the autocorrelation of Korea Air returns to help us make a trade decision. For example, suppose you find that Korea Air 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 |
Korea Air 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 Korea Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Korea Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Korea Air stock over time.
Current vs Lagged Prices |
| Timeline |
Korea Air Lagged Returns
When evaluating Korea Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Korea Air stock have on its future price. Korea Air 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, Korea Air autocorrelation shows the relationship between Korea Air stock current value and its past values and can show if there is a momentum factor associated with investing in Korea Air Svc.
Regressed Prices |
| Timeline |
Pair Trading with Korea Air
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 Korea Air 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 Korea Air will appreciate offsetting losses from the drop in the long position's value.Moving together with Korea Stock
Moving against Korea Stock
| 0.48 | 033240 | Jahwa Electron | PairCorr |
| 0.47 | 302430 | Innometry | PairCorr |
| 0.4 | 215480 | Daewoo SBI SPAC | PairCorr |
| 0.37 | 293780 | AptaBio Therapeutics | PairCorr |
| 0.35 | 053080 | Wonbang Tech | PairCorr |
The ability to find closely correlated positions to Korea Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Korea Air 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 Korea Air - 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 Korea Air Svc to buy it.
The correlation of Korea Air 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 Korea Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Korea Air Svc 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 Korea Air 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 Korea Stock
Korea Air financial ratios help investors to determine whether Korea 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 Korea with respect to the benefits of owning Korea Air security.