Spolytech (Korea) Market Value
| 050760 Stock | KRW 1,419 82.00 6.13% |
| Symbol | Spolytech |
Spolytech '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 Spolytech'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 Spolytech.
| 09/13/2024 |
| 12/12/2024 |
If you would invest 0.00 in Spolytech on September 13, 2024 and sell it all today you would earn a total of 0.00 from holding Spolytech Co or generate 0.0% return on investment in Spolytech over 90 days. Spolytech is related to or competes with Dongil Metal, SS TECH, Seoyon Topmetal, A-Tech Solution, Daiyang Metal, Daejung Chemicals, and Sungchang Autotech. Spolytech Co., Ltd. manufactures and sells engineering plastic sheets and films in South Korea More
Spolytech 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 Spolytech'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 Spolytech Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.17) | |||
| Maximum Drawdown | 6.9 | |||
| Value At Risk | (3.67) | |||
| Potential Upside | 1.67 |
Spolytech Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Spolytech's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Spolytech's standard deviation. In reality, there are many statistical measures that can use Spolytech historical prices to predict the future Spolytech's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.54) | |||
| Treynor Ratio | (1.24) |
Spolytech Backtested Returns
Spolytech owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.11, which indicates the firm had a -0.11% return per unit of risk over the last 3 months. Spolytech Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Spolytech's Risk Adjusted Performance of (0.07), variance of 4.01, and Coefficient Of Variation of (939.34) to confirm the risk estimate we provide. The entity has a beta of 0.18, which indicates not very significant fluctuations relative to the market. As returns on the market increase, Spolytech's returns are expected to increase less than the market. However, during the bear market, the loss of holding Spolytech is expected to be smaller as well. At this point, Spolytech has a negative expected return of -0.24%. Please make sure to validate Spolytech's total risk alpha, maximum drawdown, and the relationship between the jensen alpha and treynor ratio , to decide if Spolytech performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.53 |
Modest predictability
Spolytech Co has modest predictability. Overlapping area represents the amount of predictability between Spolytech time series from 13th of September 2024 to 28th of October 2024 and 28th of October 2024 to 12th 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 Spolytech price movement. The serial correlation of 0.53 indicates that about 53.0% of current Spolytech price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.53 | |
| Spearman Rank Test | 0.45 | |
| Residual Average | 0.0 | |
| Price Variance | 17.3 K |
Spolytech lagged returns against current returns
Autocorrelation, which is Spolytech 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 Spolytech's stock expected returns. We can calculate the autocorrelation of Spolytech returns to help us make a trade decision. For example, suppose you find that Spolytech 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 |
Spolytech 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 Spolytech stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Spolytech stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Spolytech stock over time.
Current vs Lagged Prices |
| Timeline |
Spolytech Lagged Returns
When evaluating Spolytech's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Spolytech stock have on its future price. Spolytech 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, Spolytech autocorrelation shows the relationship between Spolytech stock current value and its past values and can show if there is a momentum factor associated with investing in Spolytech Co.
Regressed Prices |
| Timeline |
Pair Trading with Spolytech
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 Spolytech 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 Spolytech will appreciate offsetting losses from the drop in the long position's value.Moving together with Spolytech Stock
| 0.79 | 051910 | LG Chemicals | PairCorr |
| 0.88 | 005490 | POSCO Holdings | PairCorr |
| 0.89 | 009830 | Hanwha Solutions | PairCorr |
| 0.82 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.86 | 004020 | Hyundai Steel | PairCorr |
Moving against Spolytech Stock
The ability to find closely correlated positions to Spolytech could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Spolytech 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 Spolytech - 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 Spolytech Co to buy it.
The correlation of Spolytech 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 Spolytech moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Spolytech 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 Spolytech 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 Spolytech Stock
Spolytech financial ratios help investors to determine whether Spolytech 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 Spolytech with respect to the benefits of owning Spolytech security.