Elentec Co (Korea) Market Value
| 054210 Stock | KRW 5,070 90.00 1.74% |
| Symbol | Elentec |
Elentec Co '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 Elentec Co'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 Elentec Co.
| 11/22/2024 |
| 12/22/2024 |
If you would invest 0.00 in Elentec Co on November 22, 2024 and sell it all today you would earn a total of 0.00 from holding Elentec Co or generate 0.0% return on investment in Elentec Co over 30 days. Elentec Co is related to or competes with Busan Industrial, UNISEM, and Poongsan. Elentec Co., Ltd. manufactures and sells electronic and communication products in South Korea and internationally More
Elentec Co 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 Elentec Co'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 Elentec Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 14.48 | |||
| Value At Risk | (5.36) | |||
| Potential Upside | 4.74 |
Elentec Co Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Elentec Co's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Elentec Co's standard deviation. In reality, there are many statistical measures that can use Elentec Co historical prices to predict the future Elentec Co's volatility.| Risk Adjusted Performance | (0.04) | |||
| Jensen Alpha | (0.18) | |||
| Total Risk Alpha | (0.27) | |||
| Treynor Ratio | 0.6807 |
Elentec Co Backtested Returns
Elentec Co secures Sharpe Ratio (or Efficiency) of -0.0683, which denotes the company had a -0.0683% return per unit of risk over the last 3 months. Elentec Co exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm Elentec Co's Variance of 8.4, mean deviation of 1.99, and Standard Deviation of 2.9 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.28, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Elentec Co are expected to decrease at a much lower rate. During the bear market, Elentec Co is likely to outperform the market. At this point, Elentec Co has a negative expected return of -0.2%. Please make sure to confirm Elentec Co's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Elentec Co performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.55 |
Good reverse predictability
Elentec Co has good reverse predictability. Overlapping area represents the amount of predictability between Elentec Co time series from 22nd of November 2024 to 7th of December 2024 and 7th of December 2024 to 22nd 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 Elentec Co price movement. The serial correlation of -0.55 indicates that about 55.0% of current Elentec Co price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.55 | |
| Spearman Rank Test | -0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 134.8 K |
Elentec Co lagged returns against current returns
Autocorrelation, which is Elentec Co 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 Elentec Co's stock expected returns. We can calculate the autocorrelation of Elentec Co returns to help us make a trade decision. For example, suppose you find that Elentec Co 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 |
Elentec Co 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 Elentec Co stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Elentec Co stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Elentec Co stock over time.
Current vs Lagged Prices |
| Timeline |
Elentec Co Lagged Returns
When evaluating Elentec Co's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Elentec Co stock have on its future price. Elentec Co 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, Elentec Co autocorrelation shows the relationship between Elentec Co stock current value and its past values and can show if there is a momentum factor associated with investing in Elentec Co.
Regressed Prices |
| Timeline |
Pair Trading with Elentec Co
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 Elentec Co 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 Elentec Co will appreciate offsetting losses from the drop in the long position's value.Moving together with Elentec Stock
| 0.83 | 005930 | Samsung Electronics | PairCorr |
| 0.79 | 005935 | Samsung Electronics | PairCorr |
| 0.84 | 005380 | Hyundai Motor | PairCorr |
Moving against Elentec Stock
| 0.81 | 035420 | Naver | PairCorr |
| 0.73 | 041510 | SM Entertainment | PairCorr |
| 0.65 | 078160 | MEDIPOST | PairCorr |
| 0.47 | 039240 | Gyeongnam Steel | PairCorr |
The ability to find closely correlated positions to Elentec Co could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Elentec Co 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 Elentec Co - 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 Elentec Co to buy it.
The correlation of Elentec Co 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 Elentec Co moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elentec Co 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 Elentec Co 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 Elentec Stock
Elentec Co financial ratios help investors to determine whether Elentec 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 Elentec with respect to the benefits of owning Elentec Co security.