Tokai Carbon (Korea) Market Value
| 064760 Stock | KRW 71,100 3,500 5.18% |
| Symbol | Tokai |
Tokai Carbon '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 Tokai Carbon'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 Tokai Carbon.
| 09/12/2024 |
| 12/11/2024 |
If you would invest 0.00 in Tokai Carbon on September 12, 2024 and sell it all today you would earn a total of 0.00 from holding Tokai Carbon Korea or generate 0.0% return on investment in Tokai Carbon over 90 days. Tokai Carbon is related to or competes with LEENO Industrial, Wonik Ips, Dongjin Semichem, Hana Materials, and SFA Engineering. TOKAI CARBON KOREA Co., Ltd. manufactures and sells various silicon wafer and semiconductor solutions in South Korea. More
Tokai Carbon 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 Tokai Carbon'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 Tokai Carbon Korea upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.22) | |||
| Maximum Drawdown | 11.1 | |||
| Value At Risk | (4.48) | |||
| Potential Upside | 4.91 |
Tokai Carbon Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Tokai Carbon's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Tokai Carbon's standard deviation. In reality, there are many statistical measures that can use Tokai Carbon historical prices to predict the future Tokai Carbon's volatility.| Risk Adjusted Performance | (0.11) | |||
| Jensen Alpha | (0.40) | |||
| Total Risk Alpha | (0.78) | |||
| Treynor Ratio | 133.77 |
Tokai Carbon Korea Backtested Returns
Tokai Carbon Korea owns Efficiency Ratio (i.e., Sharpe Ratio) of -0.16, which indicates the firm had a -0.16% return per unit of risk over the last 3 months. Tokai Carbon Korea exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please validate Tokai Carbon's Coefficient Of Variation of (609.71), risk adjusted performance of (0.11), and Variance of 5.69 to confirm the risk estimate we provide. The entity has a beta of -0.003, which indicates not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Tokai Carbon are expected to decrease at a much lower rate. During the bear market, Tokai Carbon is likely to outperform the market. At this point, Tokai Carbon Korea has a negative expected return of -0.39%. Please make sure to validate Tokai Carbon's standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Tokai Carbon Korea performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.22 |
Weak predictability
Tokai Carbon Korea has weak predictability. Overlapping area represents the amount of predictability between Tokai Carbon time series from 12th of September 2024 to 27th of October 2024 and 27th of October 2024 to 11th 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 Tokai Carbon Korea price movement. The serial correlation of 0.22 indicates that over 22.0% of current Tokai Carbon price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.22 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 39.3 M |
Tokai Carbon Korea lagged returns against current returns
Autocorrelation, which is Tokai Carbon 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 Tokai Carbon's stock expected returns. We can calculate the autocorrelation of Tokai Carbon returns to help us make a trade decision. For example, suppose you find that Tokai Carbon 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 |
Tokai Carbon 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 Tokai Carbon stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Tokai Carbon stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Tokai Carbon stock over time.
Current vs Lagged Prices |
| Timeline |
Tokai Carbon Lagged Returns
When evaluating Tokai Carbon's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Tokai Carbon stock have on its future price. Tokai Carbon 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, Tokai Carbon autocorrelation shows the relationship between Tokai Carbon stock current value and its past values and can show if there is a momentum factor associated with investing in Tokai Carbon Korea.
Regressed Prices |
| Timeline |
Pair Trading with Tokai Carbon
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 Tokai Carbon 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 Tokai Carbon will appreciate offsetting losses from the drop in the long position's value.Moving together with Tokai Stock
The ability to find closely correlated positions to Tokai Carbon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Tokai Carbon 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 Tokai Carbon - 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 Tokai Carbon Korea to buy it.
The correlation of Tokai Carbon 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 Tokai Carbon moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tokai Carbon Korea 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 Tokai Carbon 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 Tokai Stock
Tokai Carbon financial ratios help investors to determine whether Tokai 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 Tokai with respect to the benefits of owning Tokai Carbon security.