Ecocab (Korea) Market Value
| 128540 Stock | KRW 1,707 103.00 5.69% |
| Symbol | Ecocab |
Ecocab '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 Ecocab'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 Ecocab.
| 09/30/2024 |
| 11/29/2024 |
If you would invest 0.00 in Ecocab on September 30, 2024 and sell it all today you would earn a total of 0.00 from holding Ecocab Co or generate 0.0% return on investment in Ecocab over 60 days. Ecocab is related to or competes with Dongbang Transport, SM Entertainment, Pan Entertainment, Dongwon Metal, MEDIANA CoLtd, Nasmedia, and Dongil Metal. ECOCAB Co., Ltd. manufactures and sells automotive cables in South Korea and internationally More
Ecocab 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 Ecocab'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 Ecocab Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 4.25 | |||
| Information Ratio | 0.0185 | |||
| Maximum Drawdown | 40.83 | |||
| Value At Risk | (6.87) | |||
| Potential Upside | 8.98 |
Ecocab Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Ecocab's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Ecocab's standard deviation. In reality, there are many statistical measures that can use Ecocab historical prices to predict the future Ecocab's volatility.| Risk Adjusted Performance | 0.0373 | |||
| Jensen Alpha | 0.3715 | |||
| Total Risk Alpha | (0.77) | |||
| Sortino Ratio | 0.0292 | |||
| Treynor Ratio | (0.21) |
Ecocab Backtested Returns
Ecocab appears to be very steady, given 3 months investment horizon. Ecocab secures Sharpe Ratio (or Efficiency) of 0.0473, which denotes the company had a 0.0473% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Ecocab Co, which you can use to evaluate the volatility of the firm. Please utilize Ecocab's Coefficient Of Variation of 2693.94, mean deviation of 3.68, and Downside Deviation of 4.25 to check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, Ecocab holds a performance score of 3. The firm shows a Beta (market volatility) of -1.15, which means a somewhat significant risk relative to the market. As the market becomes more bullish, returns on owning Ecocab are expected to decrease slowly. On the other hand, during market turmoil, Ecocab is expected to outperform it slightly. Please check Ecocab's downside deviation, standard deviation, total risk alpha, as well as the relationship between the coefficient of variation and jensen alpha , to make a quick decision on whether Ecocab's price patterns will revert.
Auto-correlation | -0.77 |
Almost perfect reverse predictability
Ecocab Co has almost perfect reverse predictability. Overlapping area represents the amount of predictability between Ecocab time series from 30th of September 2024 to 30th of October 2024 and 30th of October 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 Ecocab price movement. The serial correlation of -0.77 indicates that around 77.0% of current Ecocab price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.77 | |
| Spearman Rank Test | -0.49 | |
| Residual Average | 0.0 | |
| Price Variance | 44.1 K |
Ecocab lagged returns against current returns
Autocorrelation, which is Ecocab 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 Ecocab's stock expected returns. We can calculate the autocorrelation of Ecocab returns to help us make a trade decision. For example, suppose you find that Ecocab 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 |
Ecocab 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 Ecocab stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Ecocab stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Ecocab stock over time.
Current vs Lagged Prices |
| Timeline |
Ecocab Lagged Returns
When evaluating Ecocab's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Ecocab stock have on its future price. Ecocab 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, Ecocab autocorrelation shows the relationship between Ecocab stock current value and its past values and can show if there is a momentum factor associated with investing in Ecocab Co.
Regressed Prices |
| Timeline |
Pair Trading with Ecocab
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 Ecocab 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 Ecocab will appreciate offsetting losses from the drop in the long position's value.Moving together with Ecocab Stock
Moving against Ecocab Stock
The ability to find closely correlated positions to Ecocab could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ecocab 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 Ecocab - 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 Ecocab Co to buy it.
The correlation of Ecocab 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 Ecocab moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ecocab 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 Ecocab 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 Ecocab Stock
Ecocab financial ratios help investors to determine whether Ecocab 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 Ecocab with respect to the benefits of owning Ecocab security.