Techwing (Korea) Market Value
| 089030 Stock | 42,200 4,100 10.76% |
| Symbol | Techwing |
Techwing '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 Techwing'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 Techwing.
| 11/05/2024 |
| 01/04/2025 |
If you would invest 0.00 in Techwing on November 5, 2024 and sell it all today you would earn a total of 0.00 from holding Techwing or generate 0.0% return on investment in Techwing over 60 days.
Techwing 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 Techwing'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 Techwing upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.96 | |||
| Information Ratio | 0.0414 | |||
| Maximum Drawdown | 20.19 | |||
| Value At Risk | (7.51) | |||
| Potential Upside | 8.61 |
Techwing Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Techwing's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Techwing's standard deviation. In reality, there are many statistical measures that can use Techwing historical prices to predict the future Techwing's volatility.| Risk Adjusted Performance | 0.0456 | |||
| Jensen Alpha | 0.2173 | |||
| Total Risk Alpha | 0.1463 | |||
| Sortino Ratio | 0.0427 | |||
| Treynor Ratio | 0.4053 |
Techwing Backtested Returns
Techwing appears to be very steady, given 3 months investment horizon. Techwing owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.0396, which indicates the firm had a 0.0396% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Techwing, which you can use to evaluate the volatility of the company. Please review Techwing's Risk Adjusted Performance of 0.0456, coefficient of variation of 2184.29, and Semi Deviation of 4.78 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Techwing holds a performance score of 3. The entity has a beta of 0.55, which indicates possible diversification benefits within a given portfolio. As returns on the market increase, Techwing's returns are expected to increase less than the market. However, during the bear market, the loss of holding Techwing is expected to be smaller as well. Please check Techwing's mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to make a quick decision on whether Techwing's existing price patterns will revert.
Auto-correlation | -0.16 |
Insignificant reverse predictability
Techwing has insignificant reverse predictability. Overlapping area represents the amount of predictability between Techwing time series from 5th of November 2024 to 5th of December 2024 and 5th of December 2024 to 4th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Techwing price movement. The serial correlation of -0.16 indicates that over 16.0% of current Techwing price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.16 | |
| Spearman Rank Test | -0.27 | |
| Residual Average | 0.0 | |
| Price Variance | 6.8 M |
Techwing lagged returns against current returns
Autocorrelation, which is Techwing 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 Techwing's stock expected returns. We can calculate the autocorrelation of Techwing returns to help us make a trade decision. For example, suppose you find that Techwing 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 |
Techwing 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 Techwing stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Techwing stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Techwing stock over time.
Current vs Lagged Prices |
| Timeline |
Techwing Lagged Returns
When evaluating Techwing's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Techwing stock have on its future price. Techwing 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, Techwing autocorrelation shows the relationship between Techwing stock current value and its past values and can show if there is a momentum factor associated with investing in Techwing.
Regressed Prices |
| Timeline |
Pair Trading with Techwing
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 Techwing 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 Techwing will appreciate offsetting losses from the drop in the long position's value.Moving together with Techwing Stock
The ability to find closely correlated positions to Techwing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Techwing 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 Techwing - 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 Techwing to buy it.
The correlation of Techwing 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 Techwing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Techwing 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 Techwing 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.