DeviceENGCOLtd (Korea) Market Value
| 187870 Stock | KRW 12,530 200.00 1.57% |
| Symbol | DeviceENGCOLtd |
DeviceENGCOLtd '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 DeviceENGCOLtd'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 DeviceENGCOLtd.
| 06/08/2023 |
| 11/29/2024 |
If you would invest 0.00 in DeviceENGCOLtd on June 8, 2023 and sell it all today you would earn a total of 0.00 from holding DeviceENGCOLtd or generate 0.0% return on investment in DeviceENGCOLtd over 540 days. DeviceENGCOLtd is related to or competes with PLAYWITH, Haitai Confectionery, Grand Korea, Genie Music, Sam Yang, Handok Clean, and CKH Food. ,Ltd develops and supplies automatic control systems of semiconductors, displays, and material parts to semiconductor, L... More
DeviceENGCOLtd 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 DeviceENGCOLtd'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 DeviceENGCOLtd upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.11) | |||
| Maximum Drawdown | 9.28 | |||
| Value At Risk | (3.18) | |||
| Potential Upside | 2.64 |
DeviceENGCOLtd Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for DeviceENGCOLtd's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as DeviceENGCOLtd's standard deviation. In reality, there are many statistical measures that can use DeviceENGCOLtd historical prices to predict the future DeviceENGCOLtd's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | (0.13) | |||
| Total Risk Alpha | (0.38) | |||
| Treynor Ratio | (0.31) |
DeviceENGCOLtd Backtested Returns
DeviceENGCOLtd secures Sharpe Ratio (or Efficiency) of -0.12, which denotes the company had a -0.12% return per unit of risk over the last 3 months. DeviceENGCOLtd exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm DeviceENGCOLtd's Mean Deviation of 1.5, standard deviation of 1.88, and Variance of 3.55 to check the risk estimate we provide. The firm shows a Beta (market volatility) of 0.3, which means possible diversification benefits within a given portfolio. As returns on the market increase, DeviceENGCOLtd's returns are expected to increase less than the market. However, during the bear market, the loss of holding DeviceENGCOLtd is expected to be smaller as well. At this point, DeviceENGCOLtd has a negative expected return of -0.22%. Please make sure to confirm DeviceENGCOLtd's total risk alpha, maximum drawdown, potential upside, as well as the relationship between the treynor ratio and value at risk , to decide if DeviceENGCOLtd performance from the past will be repeated at some point in the near future.
Auto-correlation | 0.02 |
Virtually no predictability
DeviceENGCOLtd has virtually no predictability. Overlapping area represents the amount of predictability between DeviceENGCOLtd time series from 8th of June 2023 to 4th of March 2024 and 4th of March 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 DeviceENGCOLtd price movement. The serial correlation of 0.02 indicates that only 2.0% of current DeviceENGCOLtd price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.02 | |
| Spearman Rank Test | 0.0 | |
| Residual Average | 0.0 | |
| Price Variance | 1.9 M |
DeviceENGCOLtd lagged returns against current returns
Autocorrelation, which is DeviceENGCOLtd 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 DeviceENGCOLtd's stock expected returns. We can calculate the autocorrelation of DeviceENGCOLtd returns to help us make a trade decision. For example, suppose you find that DeviceENGCOLtd 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 |
DeviceENGCOLtd 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 DeviceENGCOLtd stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if DeviceENGCOLtd stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in DeviceENGCOLtd stock over time.
Current vs Lagged Prices |
| Timeline |
DeviceENGCOLtd Lagged Returns
When evaluating DeviceENGCOLtd's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of DeviceENGCOLtd stock have on its future price. DeviceENGCOLtd 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, DeviceENGCOLtd autocorrelation shows the relationship between DeviceENGCOLtd stock current value and its past values and can show if there is a momentum factor associated with investing in DeviceENGCOLtd.
Regressed Prices |
| Timeline |
Pair Trading with DeviceENGCOLtd
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 DeviceENGCOLtd 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 DeviceENGCOLtd will appreciate offsetting losses from the drop in the long position's value.Moving against DeviceENGCOLtd Stock
The ability to find closely correlated positions to DeviceENGCOLtd could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DeviceENGCOLtd 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 DeviceENGCOLtd - 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 DeviceENGCOLtd to buy it.
The correlation of DeviceENGCOLtd 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 DeviceENGCOLtd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if DeviceENGCOLtd 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 DeviceENGCOLtd 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 DeviceENGCOLtd Stock
DeviceENGCOLtd financial ratios help investors to determine whether DeviceENGCOLtd 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 DeviceENGCOLtd with respect to the benefits of owning DeviceENGCOLtd security.