ENF Technology (Korea) Market Value
| 102710 Stock | 18,140 240.00 1.34% |
| Symbol | ENF |
ENF Technology '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 ENF Technology'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 ENF Technology.
| 12/24/2023 |
| 12/18/2024 |
If you would invest 0.00 in ENF Technology on December 24, 2023 and sell it all today you would earn a total of 0.00 from holding ENF Technology Co or generate 0.0% return on investment in ENF Technology over 360 days. ENF Technology is related to or competes with LG Chemicals, POSCO Holdings, Hanwha Solutions, Lotte Chemical, Hyundai Steel, Dongkuk Steel, and Korea Petro. ENF Technology Co., Ltd. produces and sells process chemicals, fine chemicals, and color pastes for semiconductor and LCD manufacturers in South Korea and internationally. More
ENF Technology 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 ENF Technology'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 ENF Technology Co upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 13.24 | |||
| Value At Risk | (4.42) | |||
| Potential Upside | 5.97 |
ENF Technology Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ENF Technology's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ENF Technology's standard deviation. In reality, there are many statistical measures that can use ENF Technology historical prices to predict the future ENF Technology's volatility.| Risk Adjusted Performance | (0.07) | |||
| Jensen Alpha | (0.33) | |||
| Total Risk Alpha | (0.58) | |||
| Treynor Ratio | 109.44 |
ENF Technology Backtested Returns
ENF Technology secures Sharpe Ratio (or Efficiency) of -0.0935, which denotes the company had a -0.0935% return per unit of return volatility over the last 3 months. ENF Technology Co exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm ENF Technology's standard deviation of 3.11, and Mean Deviation of 2.39 to check the risk estimate we provide. The firm shows a Beta (market volatility) of -0.003, which means not very significant fluctuations relative to the market. As returns on the market increase, returns on owning ENF Technology are expected to decrease at a much lower rate. During the bear market, ENF Technology is likely to outperform the market. At this point, ENF Technology has a negative expected return of -0.29%. Please make sure to confirm ENF Technology's coefficient of variation, jensen alpha, and the relationship between the mean deviation and standard deviation , to decide if ENF Technology performance from the past will be repeated in the future.
Auto-correlation | -0.66 |
Very good reverse predictability
ENF Technology Co has very good reverse predictability. Overlapping area represents the amount of predictability between ENF Technology time series from 24th of December 2023 to 21st of June 2024 and 21st of June 2024 to 18th 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 ENF Technology price movement. The serial correlation of -0.66 indicates that around 66.0% of current ENF Technology price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.66 | |
| Spearman Rank Test | -0.61 | |
| Residual Average | 0.0 | |
| Price Variance | 23.3 M |
ENF Technology lagged returns against current returns
Autocorrelation, which is ENF Technology 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 ENF Technology's stock expected returns. We can calculate the autocorrelation of ENF Technology returns to help us make a trade decision. For example, suppose you find that ENF Technology 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 |
ENF Technology 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 ENF Technology stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ENF Technology stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ENF Technology stock over time.
Current vs Lagged Prices |
| Timeline |
ENF Technology Lagged Returns
When evaluating ENF Technology's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ENF Technology stock have on its future price. ENF Technology 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, ENF Technology autocorrelation shows the relationship between ENF Technology stock current value and its past values and can show if there is a momentum factor associated with investing in ENF Technology Co.
Regressed Prices |
| Timeline |
Pair Trading with ENF Technology
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 ENF Technology 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 ENF Technology will appreciate offsetting losses from the drop in the long position's value.Moving together with ENF Stock
| 0.64 | 051910 | LG Chemicals | PairCorr |
| 0.75 | 005490 | POSCO Holdings | PairCorr |
| 0.85 | 009830 | Hanwha Solutions | PairCorr |
Moving against ENF Stock
The ability to find closely correlated positions to ENF Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ENF Technology 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 ENF Technology - 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 ENF Technology Co to buy it.
The correlation of ENF Technology 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 ENF Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ENF Technology 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 ENF Technology 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 ENF Stock
ENF Technology financial ratios help investors to determine whether ENF 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 ENF with respect to the benefits of owning ENF Technology security.