MEDICOX (Korea) Market Value
| 054180 Stock | KRW 313.00 1.00 0.32% |
| Symbol | MEDICOX |
MEDICOX '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 MEDICOX'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 MEDICOX.
| 05/23/2023 |
| 12/13/2024 |
If you would invest 0.00 in MEDICOX on May 23, 2023 and sell it all today you would earn a total of 0.00 from holding MEDICOX Co or generate 0.0% return on investment in MEDICOX over 570 days. MEDICOX is related to or competes with HyVision System, Daebo Magnetic, Vitzro Tech, Busan Industrial, Sam Chun, Humax, and Finebesteel. ChoongAng Ocean Co., Ltd. engages in shipbuilding, display, alternative energy, and other businesses. More
MEDICOX 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 MEDICOX'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 MEDICOX Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 40.9 | |||
| Value At Risk | (9.58) | |||
| Potential Upside | 6.36 |
MEDICOX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for MEDICOX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as MEDICOX's standard deviation. In reality, there are many statistical measures that can use MEDICOX historical prices to predict the future MEDICOX's volatility.| Risk Adjusted Performance | (0.06) | |||
| Jensen Alpha | (0.50) | |||
| Total Risk Alpha | (1.33) | |||
| Treynor Ratio | 1.97 |
MEDICOX Backtested Returns
MEDICOX has Sharpe Ratio of -0.056, which conveys that the firm had a -0.056% return per unit of risk over the last 3 months. MEDICOX exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify MEDICOX's mean deviation of 3.5, and Risk Adjusted Performance of (0.06) to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.27, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning MEDICOX are expected to decrease at a much lower rate. During the bear market, MEDICOX is likely to outperform the market. At this point, MEDICOX has a negative expected return of -0.33%. Please make sure to verify MEDICOX's mean deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to decide if MEDICOX performance from the past will be repeated in the future.
Auto-correlation | 0.59 |
Modest predictability
MEDICOX Co has modest predictability. Overlapping area represents the amount of predictability between MEDICOX time series from 23rd of May 2023 to 3rd of March 2024 and 3rd of March 2024 to 13th 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 MEDICOX price movement. The serial correlation of 0.59 indicates that roughly 59.0% of current MEDICOX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.59 | |
| Spearman Rank Test | 0.67 | |
| Residual Average | 0.0 | |
| Price Variance | 24 K |
MEDICOX lagged returns against current returns
Autocorrelation, which is MEDICOX 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 MEDICOX's stock expected returns. We can calculate the autocorrelation of MEDICOX returns to help us make a trade decision. For example, suppose you find that MEDICOX 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 |
MEDICOX 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 MEDICOX stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if MEDICOX stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in MEDICOX stock over time.
Current vs Lagged Prices |
| Timeline |
MEDICOX Lagged Returns
When evaluating MEDICOX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of MEDICOX stock have on its future price. MEDICOX 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, MEDICOX autocorrelation shows the relationship between MEDICOX stock current value and its past values and can show if there is a momentum factor associated with investing in MEDICOX Co.
Regressed Prices |
| Timeline |
Pair Trading with MEDICOX
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 MEDICOX 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 MEDICOX will appreciate offsetting losses from the drop in the long position's value.Moving together with MEDICOX Stock
| 0.77 | 054210 | Elentec Co | PairCorr |
| 0.69 | 090360 | Robostar CoLtd | PairCorr |
| 0.69 | 290670 | Daebo Magnetic CoLtd | PairCorr |
Moving against MEDICOX Stock
The ability to find closely correlated positions to MEDICOX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MEDICOX 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 MEDICOX - 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 MEDICOX Co to buy it.
The correlation of MEDICOX 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 MEDICOX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MEDICOX 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 MEDICOX 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 MEDICOX Stock
MEDICOX financial ratios help investors to determine whether MEDICOX 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 MEDICOX with respect to the benefits of owning MEDICOX security.