Kyung Chang (Korea) Market Value
| 024910 Stock | KRW 2,050 10.00 0.49% |
| Symbol | Kyung |
Kyung Chang '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 Kyung Chang'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 Kyung Chang.
| 06/01/2024 |
| 11/28/2024 |
If you would invest 0.00 in Kyung Chang on June 1, 2024 and sell it all today you would earn a total of 0.00 from holding Kyung Chang Industrial or generate 0.0% return on investment in Kyung Chang over 180 days. Kyung Chang is related to or competes with KMH Hitech, GemVaxKAEL CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, Fine Besteel, and Hyundai Heavy. Kyung Chang Industrial Co., Ltd. designs, develops, and manufactures automotive systems, assemblies, modules, and compon... More
Kyung Chang 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 Kyung Chang'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 Kyung Chang Industrial upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 8.8 | |||
| Value At Risk | (2.95) | |||
| Potential Upside | 3.15 |
Kyung Chang Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Kyung Chang's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Kyung Chang's standard deviation. In reality, there are many statistical measures that can use Kyung Chang historical prices to predict the future Kyung Chang's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.47) | |||
| Treynor Ratio | 3.94 |
Kyung Chang Industrial Backtested Returns
Kyung Chang Industrial has Sharpe Ratio of -0.0862, which conveys that the firm had a -0.0862% return per unit of risk over the last 3 months. Kyung Chang exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Kyung Chang's Risk Adjusted Performance of (0.08), mean deviation of 1.36, and Standard Deviation of 1.79 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.0521, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Kyung Chang are expected to decrease at a much lower rate. During the bear market, Kyung Chang is likely to outperform the market. At this point, Kyung Chang Industrial has a negative expected return of -0.16%. Please make sure to verify Kyung Chang's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if Kyung Chang Industrial performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.66 |
Good predictability
Kyung Chang Industrial has good predictability. Overlapping area represents the amount of predictability between Kyung Chang time series from 1st of June 2024 to 30th of August 2024 and 30th of August 2024 to 28th 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 Kyung Chang Industrial price movement. The serial correlation of 0.66 indicates that around 66.0% of current Kyung Chang price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.66 | |
| Spearman Rank Test | 0.36 | |
| Residual Average | 0.0 | |
| Price Variance | 11.6 K |
Kyung Chang Industrial lagged returns against current returns
Autocorrelation, which is Kyung Chang 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 Kyung Chang's stock expected returns. We can calculate the autocorrelation of Kyung Chang returns to help us make a trade decision. For example, suppose you find that Kyung Chang 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 |
Kyung Chang 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 Kyung Chang stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Kyung Chang stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Kyung Chang stock over time.
Current vs Lagged Prices |
| Timeline |
Kyung Chang Lagged Returns
When evaluating Kyung Chang's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Kyung Chang stock have on its future price. Kyung Chang 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, Kyung Chang autocorrelation shows the relationship between Kyung Chang stock current value and its past values and can show if there is a momentum factor associated with investing in Kyung Chang Industrial.
Regressed Prices |
| Timeline |
Pair Trading with Kyung Chang
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 Kyung Chang 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 Kyung Chang will appreciate offsetting losses from the drop in the long position's value.Moving together with Kyung Stock
The ability to find closely correlated positions to Kyung Chang could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Kyung Chang 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 Kyung Chang - 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 Kyung Chang Industrial to buy it.
The correlation of Kyung Chang 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 Kyung Chang moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kyung Chang Industrial 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 Kyung Chang 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 Kyung Stock
Kyung Chang financial ratios help investors to determine whether Kyung 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 Kyung with respect to the benefits of owning Kyung Chang security.