Jeju Air (Korea) Market Value
| 089590 Stock | 9,450 110.00 1.15% |
| Symbol | Jeju |
Jeju Air '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 Jeju Air'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 Jeju Air.
| 12/05/2023 |
| 11/29/2024 |
If you would invest 0.00 in Jeju Air on December 5, 2023 and sell it all today you would earn a total of 0.00 from holding Jeju Air Co or generate 0.0% return on investment in Jeju Air over 360 days. Jeju Air is related to or competes with Korea New, ICD, DYPNF CoLtd, Busan Industrial, Finebesteel, Shinhan Inverse, and Hyundai Heavy. More
Jeju Air 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 Jeju Air'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 Jeju Air Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.55 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 9.12 | |||
| Value At Risk | (2.49) | |||
| Potential Upside | 3.33 |
Jeju Air Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Jeju Air's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Jeju Air's standard deviation. In reality, there are many statistical measures that can use Jeju Air historical prices to predict the future Jeju Air's volatility.| Risk Adjusted Performance | 0.0303 | |||
| Jensen Alpha | 0.0189 | |||
| Total Risk Alpha | (0.23) | |||
| Sortino Ratio | (0.04) | |||
| Treynor Ratio | 0.188 |
Jeju Air Backtested Returns
At this point, Jeju Air is very steady. Jeju Air holds Efficiency (Sharpe) Ratio of 0.0139, which attests that the entity had a 0.0139% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Jeju Air, which you can use to evaluate the volatility of the firm. Please check out Jeju Air's Risk Adjusted Performance of 0.0303, market risk adjusted performance of 0.198, and Downside Deviation of 1.55 to validate if the risk estimate we provide is consistent with the expected return of 0.0252%. Jeju Air has a performance score of 1 on a scale of 0 to 100. The company retains a Market Volatility (i.e., Beta) of 0.26, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Jeju Air's returns are expected to increase less than the market. However, during the bear market, the loss of holding Jeju Air is expected to be smaller as well. Jeju Air right now retains a risk of 1.82%. Please check out Jeju Air mean deviation, downside deviation, standard deviation, as well as the relationship between the semi deviation and coefficient of variation , to decide if Jeju Air will be following its current trending patterns.
Auto-correlation | 0.52 |
Modest predictability
Jeju Air Co has modest predictability. Overlapping area represents the amount of predictability between Jeju Air time series from 5th of December 2023 to 2nd of June 2024 and 2nd of June 2024 to 29th of November 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 Jeju Air price movement. The serial correlation of 0.52 indicates that about 52.0% of current Jeju Air price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.55 | |
| Residual Average | 0.0 | |
| Price Variance | 460 K |
Jeju Air lagged returns against current returns
Autocorrelation, which is Jeju Air 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 Jeju Air's stock expected returns. We can calculate the autocorrelation of Jeju Air returns to help us make a trade decision. For example, suppose you find that Jeju Air 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 |
Jeju Air 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 Jeju Air stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Jeju Air stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Jeju Air stock over time.
Current vs Lagged Prices |
| Timeline |
Jeju Air Lagged Returns
When evaluating Jeju Air's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Jeju Air stock have on its future price. Jeju Air 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, Jeju Air autocorrelation shows the relationship between Jeju Air stock current value and its past values and can show if there is a momentum factor associated with investing in Jeju Air Co.
Regressed Prices |
| Timeline |
Pair Trading with Jeju Air
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 Jeju Air 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 Jeju Air will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to Jeju Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jeju Air 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 Jeju Air - 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 Jeju Air Co to buy it.
The correlation of Jeju Air 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 Jeju Air moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jeju Air 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 Jeju Air 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 Jeju Stock
Jeju Air financial ratios help investors to determine whether Jeju 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 Jeju with respect to the benefits of owning Jeju Air security.