Miwon Chemical (Korea) Market Value
| 134380 Stock | 79,300 300.00 0.38% |
| Symbol | Miwon |
Miwon Chemical '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 Miwon Chemical'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 Miwon Chemical.
| 11/12/2024 |
| 12/12/2024 |
If you would invest 0.00 in Miwon Chemical on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Miwon Chemical or generate 0.0% return on investment in Miwon Chemical over 30 days. Miwon Chemical is related to or competes with LG Chem, Chunbo Co, DukSan Neolux, Hyosung Chemical, LIG-ES SPAC, Sukgyung, and PH Tech. More
Miwon Chemical 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 Miwon Chemical'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 Miwon Chemical upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.18) | |||
| Maximum Drawdown | 3.47 | |||
| Value At Risk | (1.74) | |||
| Potential Upside | 1.29 |
Miwon Chemical Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Miwon Chemical's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Miwon Chemical's standard deviation. In reality, there are many statistical measures that can use Miwon Chemical historical prices to predict the future Miwon Chemical's volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.14) | |||
| Treynor Ratio | 0.3583 |
Miwon Chemical Backtested Returns
Miwon Chemical has Sharpe Ratio of -0.0228, which conveys that the firm had a -0.0228% return per unit of risk over the last 3 months. Miwon Chemical exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Miwon Chemical's Risk Adjusted Performance of (0.01), mean deviation of 0.5293, and Standard Deviation of 0.761 to check out the risk estimate we provide. The company secures a Beta (Market Risk) of -0.0571, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Miwon Chemical are expected to decrease at a much lower rate. During the bear market, Miwon Chemical is likely to outperform the market. At this point, Miwon Chemical has a negative expected return of -0.0184%. Please make sure to verify Miwon Chemical's treynor ratio, value at risk, skewness, as well as the relationship between the maximum drawdown and potential upside , to decide if Miwon Chemical performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.19 |
Insignificant reverse predictability
Miwon Chemical has insignificant reverse predictability. Overlapping area represents the amount of predictability between Miwon Chemical time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 Miwon Chemical price movement. The serial correlation of -0.19 indicates that over 19.0% of current Miwon Chemical price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.19 | |
| Spearman Rank Test | 0.07 | |
| Residual Average | 0.0 | |
| Price Variance | 483.8 K |
Miwon Chemical lagged returns against current returns
Autocorrelation, which is Miwon Chemical 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 Miwon Chemical's stock expected returns. We can calculate the autocorrelation of Miwon Chemical returns to help us make a trade decision. For example, suppose you find that Miwon Chemical 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 |
Miwon Chemical 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 Miwon Chemical stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Miwon Chemical stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Miwon Chemical stock over time.
Current vs Lagged Prices |
| Timeline |
Miwon Chemical Lagged Returns
When evaluating Miwon Chemical's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Miwon Chemical stock have on its future price. Miwon Chemical 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, Miwon Chemical autocorrelation shows the relationship between Miwon Chemical stock current value and its past values and can show if there is a momentum factor associated with investing in Miwon Chemical.
Regressed Prices |
| Timeline |
Pair Trading with Miwon Chemical
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 Miwon Chemical 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 Miwon Chemical will appreciate offsetting losses from the drop in the long position's value.Moving together with Miwon Stock
| 0.69 | 278280 | Chunbo Co | PairCorr |
| 0.64 | 213420 | DukSan Neolux CoLtd | PairCorr |
| 0.68 | 298000 | Hyosung Chemical Corp | PairCorr |
| 0.72 | 220260 | LIG ES SPAC | PairCorr |
Moving against Miwon Stock
| 0.77 | 329180 | Hyundai Heavy Industries | PairCorr |
| 0.51 | 182360 | Cube Entertainment | PairCorr |
| 0.51 | 111710 | Namhwa Industrial | PairCorr |
The ability to find closely correlated positions to Miwon Chemical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Miwon Chemical 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 Miwon Chemical - 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 Miwon Chemical to buy it.
The correlation of Miwon Chemical 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 Miwon Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Miwon Chemical 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 Miwon Chemical 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 Miwon Stock
Miwon Chemical financial ratios help investors to determine whether Miwon 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 Miwon with respect to the benefits of owning Miwon Chemical security.