TES (Korea) Market Value
| 095610 Stock | KRW 22,850 1,050 4.39% |
| Symbol | TES |
TES '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 TES'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 TES.
| 12/19/2024 |
| 03/19/2025 |
If you would invest 0.00 in TES on December 19, 2024 and sell it all today you would earn a total of 0.00 from holding TES Co or generate 0.0% return on investment in TES over 90 days. TES is related to or competes with Wonik Ips, Eugene Technology, SFA Engineering, and Tokai Carbon. TES Co., Ltd. manufactures and sells semiconductors, displays, and compound semiconductor equipment More
TES 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 TES'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 TES Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 2.96 | |||
| Information Ratio | 0.255 | |||
| Maximum Drawdown | 23.91 | |||
| Value At Risk | (5.03) | |||
| Potential Upside | 6.74 |
TES Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for TES's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as TES's standard deviation. In reality, there are many statistical measures that can use TES historical prices to predict the future TES's volatility.| Risk Adjusted Performance | 0.2141 | |||
| Jensen Alpha | 1.02 | |||
| Total Risk Alpha | 1.36 | |||
| Sortino Ratio | 0.3479 | |||
| Treynor Ratio | 1.04 |
TES Co Backtested Returns
TES appears to be very steady, given 3 months investment horizon. TES Co owns Efficiency Ratio (i.e., Sharpe Ratio) of 0.19, which indicates the firm had a 0.19 % return per unit of standard deviation over the last 3 months. By examining TES's technical indicators, you can evaluate if the expected return of 0.79% is justified by implied risk. Please review TES's risk adjusted performance of 0.2141, and Coefficient Of Variation of 425.51 to confirm if our risk estimates are consistent with your expectations. On a scale of 0 to 100, TES holds a performance score of 14. The entity has a beta of 0.9, which indicates possible diversification benefits within a given portfolio. TES returns are very sensitive to returns on the market. As the market goes up or down, TES is expected to follow. Please check TES's jensen alpha, sortino ratio, and the relationship between the standard deviation and total risk alpha , to make a quick decision on whether TES's existing price patterns will revert.
Auto-correlation | 0.30 |
Below average predictability
TES Co has below average predictability. Overlapping area represents the amount of predictability between TES time series from 19th of December 2024 to 2nd of February 2025 and 2nd of February 2025 to 19th of March 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 TES Co price movement. The serial correlation of 0.3 indicates that nearly 30.0% of current TES price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.3 | |
| Spearman Rank Test | -0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 2.3 M |
TES Co lagged returns against current returns
Autocorrelation, which is TES 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 TES's stock expected returns. We can calculate the autocorrelation of TES returns to help us make a trade decision. For example, suppose you find that TES 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 |
TES 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 TES stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if TES stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in TES stock over time.
Current vs Lagged Prices |
| Timeline |
TES Lagged Returns
When evaluating TES's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of TES stock have on its future price. TES 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, TES autocorrelation shows the relationship between TES stock current value and its past values and can show if there is a momentum factor associated with investing in TES Co.
Regressed Prices |
| Timeline |
Pair Trading with TES
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 TES 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 TES will appreciate offsetting losses from the drop in the long position's value.Moving together with TES Stock
The ability to find closely correlated positions to TES could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TES 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 TES - 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 TES Co to buy it.
The correlation of TES 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 TES moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TES 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 TES 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 TES Stock
TES financial ratios help investors to determine whether TES 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 TES with respect to the benefits of owning TES security.