PJ Metal (Korea) Market Value
| 128660 Stock | KRW 3,185 15.00 0.47% |
| Symbol | 128660 |
PJ Metal '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 PJ Metal'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 PJ Metal.
| 12/17/2024 |
| 03/17/2025 |
If you would invest 0.00 in PJ Metal on December 17, 2024 and sell it all today you would earn a total of 0.00 from holding PJ Metal Co or generate 0.0% return on investment in PJ Metal over 90 days. PJ Metal is related to or competes with Dongbang Transport, LG Household, Kukil Metal, InnoTherapy, INFINITT Healthcare, and CU Medical. PJ Metal Co., Ltd. manufactures and sells Al deoxidizers in South Korea. More
PJ Metal 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 PJ Metal'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 PJ Metal Co upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.91 | |||
| Information Ratio | 0.1356 | |||
| Maximum Drawdown | 12.43 | |||
| Value At Risk | (2.08) | |||
| Potential Upside | 4.36 |
PJ Metal Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PJ Metal's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PJ Metal's standard deviation. In reality, there are many statistical measures that can use PJ Metal historical prices to predict the future PJ Metal's volatility.| Risk Adjusted Performance | 0.0832 | |||
| Jensen Alpha | 0.2154 | |||
| Total Risk Alpha | 0.4429 | |||
| Sortino Ratio | 0.1502 | |||
| Treynor Ratio | 0.5173 |
PJ Metal Backtested Returns
At this point, PJ Metal is very steady. PJ Metal retains Efficiency (Sharpe Ratio) of 0.12, which implies the firm had a 0.12 % return per unit of price deviation over the last 3 months. We have found thirty technical indicators for PJ Metal, which you can use to evaluate the volatility of the company. Please check PJ Metal's market risk adjusted performance of 0.5273, and Standard Deviation of 2.12 to confirm if the risk estimate we provide is consistent with the expected return of 0.18%. PJ Metal has a performance score of 9 on a scale of 0 to 100. The company owns a Beta (Systematic Risk) of 0.34, which implies possible diversification benefits within a given portfolio. As returns on the market increase, PJ Metal's returns are expected to increase less than the market. However, during the bear market, the loss of holding PJ Metal is expected to be smaller as well. PJ Metal today owns a risk of 1.5%. Please check PJ Metal Co market risk adjusted performance, semi deviation, coefficient of variation, as well as the relationship between the mean deviation and downside deviation , to decide if PJ Metal Co will be following its current price history.
Auto-correlation | 0.73 |
Good predictability
PJ Metal Co has good predictability. Overlapping area represents the amount of predictability between PJ Metal time series from 17th of December 2024 to 31st of January 2025 and 31st of January 2025 to 17th 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 PJ Metal price movement. The serial correlation of 0.73 indicates that around 73.0% of current PJ Metal price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.73 | |
| Spearman Rank Test | 0.42 | |
| Residual Average | 0.0 | |
| Price Variance | 5571.88 |
PJ Metal lagged returns against current returns
Autocorrelation, which is PJ Metal 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 PJ Metal's stock expected returns. We can calculate the autocorrelation of PJ Metal returns to help us make a trade decision. For example, suppose you find that PJ Metal 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 |
PJ Metal 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 PJ Metal stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PJ Metal stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PJ Metal stock over time.
Current vs Lagged Prices |
| Timeline |
PJ Metal Lagged Returns
When evaluating PJ Metal's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PJ Metal stock have on its future price. PJ Metal 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, PJ Metal autocorrelation shows the relationship between PJ Metal stock current value and its past values and can show if there is a momentum factor associated with investing in PJ Metal Co.
Regressed Prices |
| Timeline |
Pair Trading with PJ Metal
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 PJ Metal 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 PJ Metal will appreciate offsetting losses from the drop in the long position's value.Moving together with 128660 Stock
The ability to find closely correlated positions to PJ Metal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PJ Metal 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 PJ Metal - 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 PJ Metal Co to buy it.
The correlation of PJ Metal 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 PJ Metal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PJ Metal 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 PJ Metal 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 128660 Stock
PJ Metal financial ratios help investors to determine whether 128660 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 128660 with respect to the benefits of owning PJ Metal security.