Poongsan (Korea) Market Value
| 103140 Stock | 49,450 750.00 1.49% |
| Symbol | Poongsan |
Poongsan '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 Poongsan'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 Poongsan.
| 06/25/2024 |
| 12/22/2024 |
If you would invest 0.00 in Poongsan on June 25, 2024 and sell it all today you would earn a total of 0.00 from holding Poongsan or generate 0.0% return on investment in Poongsan over 180 days. Poongsan is related to or competes with LG Chemicals, POSCO Holdings, Hanwha Solutions, Lotte Chemical, Hyundai Steel, Ecopro Co, and Korea Petro. More
Poongsan 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 Poongsan'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 Poongsan upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.05) | |||
| Maximum Drawdown | 15.13 | |||
| Value At Risk | (5.44) | |||
| Potential Upside | 5.63 |
Poongsan Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Poongsan's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Poongsan's standard deviation. In reality, there are many statistical measures that can use Poongsan historical prices to predict the future Poongsan's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.15) | |||
| Total Risk Alpha | (0.25) | |||
| Treynor Ratio | 1.19 |
Poongsan Backtested Returns
Poongsan maintains Sharpe Ratio (i.e., Efficiency) of -0.0336, which implies the firm had a -0.0336% return per unit of risk over the last 3 months. Poongsan exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Poongsan's Variance of 10.7, risk adjusted performance of (0.03), and Coefficient Of Variation of (2,239) to confirm the risk estimate we provide. The company holds a Beta of -0.13, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Poongsan are expected to decrease at a much lower rate. During the bear market, Poongsan is likely to outperform the market. At this point, Poongsan has a negative expected return of -0.11%. Please make sure to check Poongsan's standard deviation, total risk alpha, maximum drawdown, as well as the relationship between the jensen alpha and treynor ratio , to decide if Poongsan performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.10 |
Insignificant predictability
Poongsan has insignificant predictability. Overlapping area represents the amount of predictability between Poongsan time series from 25th of June 2024 to 23rd of September 2024 and 23rd of September 2024 to 22nd 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 Poongsan price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Poongsan price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | 0.32 | |
| Residual Average | 0.0 | |
| Price Variance | 50.6 M |
Poongsan lagged returns against current returns
Autocorrelation, which is Poongsan 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 Poongsan's stock expected returns. We can calculate the autocorrelation of Poongsan returns to help us make a trade decision. For example, suppose you find that Poongsan 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 |
Poongsan 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 Poongsan stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Poongsan stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Poongsan stock over time.
Current vs Lagged Prices |
| Timeline |
Poongsan Lagged Returns
When evaluating Poongsan's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Poongsan stock have on its future price. Poongsan 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, Poongsan autocorrelation shows the relationship between Poongsan stock current value and its past values and can show if there is a momentum factor associated with investing in Poongsan.
Regressed Prices |
| Timeline |
Pair Trading with Poongsan
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 Poongsan 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 Poongsan will appreciate offsetting losses from the drop in the long position's value.Moving together with Poongsan Stock
| 0.71 | 051910 | LG Chemicals | PairCorr |
| 0.65 | 005490 | POSCO Holdings | PairCorr |
| 0.88 | 011170 | Lotte Chemical Corp | PairCorr |
| 0.75 | 004020 | Hyundai Steel | PairCorr |
Moving against Poongsan Stock
| 0.67 | 078160 | MEDIPOST | PairCorr |
| 0.63 | 039240 | Gyeongnam Steel | PairCorr |
| 0.61 | 230240 | Hana Financial 7 | PairCorr |
| 0.43 | 003030 | Seah Steel Corp | PairCorr |
| 0.43 | 041510 | SM Entertainment | PairCorr |
The ability to find closely correlated positions to Poongsan could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Poongsan 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 Poongsan - 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 Poongsan to buy it.
The correlation of Poongsan 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 Poongsan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Poongsan 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 Poongsan 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 Poongsan Stock
Poongsan financial ratios help investors to determine whether Poongsan 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 Poongsan with respect to the benefits of owning Poongsan security.