Sungwoo Hitech (Korea) Market Value
| 015750 Stock | 5,020 80.00 1.57% |
| Symbol | Sungwoo |
Sungwoo Hitech '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 Sungwoo Hitech'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 Sungwoo Hitech.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Sungwoo Hitech on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding Sungwoo Hitech Co or generate 0.0% return on investment in Sungwoo Hitech over 60 days. Sungwoo Hitech is related to or competes with Samsung Electronics, Samsung Electronics, LG Energy, SK Hynix, Samsung Biologics, LG Chem, and LG Chemicals. More
Sungwoo Hitech 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 Sungwoo Hitech'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 Sungwoo Hitech Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 10.72 | |||
| Value At Risk | (3.66) | |||
| Potential Upside | 3.45 |
Sungwoo Hitech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Sungwoo Hitech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Sungwoo Hitech's standard deviation. In reality, there are many statistical measures that can use Sungwoo Hitech historical prices to predict the future Sungwoo Hitech's volatility.| Risk Adjusted Performance | (0.14) | |||
| Jensen Alpha | (0.42) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (2.87) |
Sungwoo Hitech Backtested Returns
Sungwoo Hitech 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. Sungwoo Hitech Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Sungwoo Hitech's Risk Adjusted Performance of (0.14), variance of 5.07, and Coefficient Of Variation of (556.08) to confirm the risk estimate we provide. The entity has a beta of 0.14, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Sungwoo Hitech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Sungwoo Hitech is expected to be smaller as well. At this point, Sungwoo Hitech has a negative expected return of -0.47%. Please make sure to validate Sungwoo Hitech's jensen alpha, treynor ratio, and the relationship between the standard deviation and total risk alpha , to decide if Sungwoo Hitech performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.43 |
Modest reverse predictability
Sungwoo Hitech Co has modest reverse predictability. Overlapping area represents the amount of predictability between Sungwoo Hitech time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Sungwoo Hitech price movement. The serial correlation of -0.43 indicates that just about 43.0% of current Sungwoo Hitech price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.43 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 21.9 K |
Sungwoo Hitech lagged returns against current returns
Autocorrelation, which is Sungwoo Hitech 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 Sungwoo Hitech's stock expected returns. We can calculate the autocorrelation of Sungwoo Hitech returns to help us make a trade decision. For example, suppose you find that Sungwoo Hitech 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 |
Sungwoo Hitech 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 Sungwoo Hitech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Sungwoo Hitech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Sungwoo Hitech stock over time.
Current vs Lagged Prices |
| Timeline |
Sungwoo Hitech Lagged Returns
When evaluating Sungwoo Hitech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Sungwoo Hitech stock have on its future price. Sungwoo Hitech 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, Sungwoo Hitech autocorrelation shows the relationship between Sungwoo Hitech stock current value and its past values and can show if there is a momentum factor associated with investing in Sungwoo Hitech Co.
Regressed Prices |
| Timeline |
Pair Trading with Sungwoo Hitech
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 Sungwoo Hitech 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 Sungwoo Hitech will appreciate offsetting losses from the drop in the long position's value.Moving together with Sungwoo Stock
| 0.82 | 005935 | Samsung Electronics | PairCorr |
| 0.84 | 005930 | Samsung Electronics | PairCorr |
| 0.65 | 373220 | LG Energy Solution | PairCorr |
| 0.68 | 207940 | Samsung Biologics | PairCorr |
Moving against Sungwoo Stock
The ability to find closely correlated positions to Sungwoo Hitech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sungwoo Hitech 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 Sungwoo Hitech - 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 Sungwoo Hitech Co to buy it.
The correlation of Sungwoo Hitech 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 Sungwoo Hitech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sungwoo Hitech 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 Sungwoo Hitech 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 Sungwoo Stock
Sungwoo Hitech financial ratios help investors to determine whether Sungwoo 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 Sungwoo with respect to the benefits of owning Sungwoo Hitech security.