ALTEOGEN (Korea) Market Value
| 196170 Stock | KRW 443,500 4,000 0.91% |
| Symbol | ALTEOGEN |
ALTEOGEN '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 ALTEOGEN'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 ALTEOGEN.
| 12/19/2024 |
| 03/19/2025 |
ALTEOGEN 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 ALTEOGEN'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 ALTEOGEN upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 3.13 | |||
| Information Ratio | 0.1691 | |||
| Maximum Drawdown | 17.26 | |||
| Value At Risk | (5.11) | |||
| Potential Upside | 6.34 |
ALTEOGEN Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ALTEOGEN's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ALTEOGEN's standard deviation. In reality, there are many statistical measures that can use ALTEOGEN historical prices to predict the future ALTEOGEN's volatility.| Risk Adjusted Performance | 0.1375 | |||
| Jensen Alpha | 0.5603 | |||
| Total Risk Alpha | 0.9439 | |||
| Sortino Ratio | 0.2052 | |||
| Treynor Ratio | 5.39 |
ALTEOGEN Backtested Returns
ALTEOGEN appears to be very steady, given 3 months investment horizon. ALTEOGEN secures Sharpe Ratio (or Efficiency) of 0.24, which signifies that the company had a 0.24 % return per unit of risk over the last 3 months. By analyzing ALTEOGEN's technical indicators, you can evaluate if the expected return of 0.84% is justified by implied risk. Please makes use of ALTEOGEN's mean deviation of 2.99, and Risk Adjusted Performance of 0.1375 to double-check if our risk estimates are consistent with your expectations. On a scale of 0 to 100, ALTEOGEN holds a performance score of 18. The firm shows a Beta (market volatility) of 0.1, which signifies not very significant fluctuations relative to the market. As returns on the market increase, ALTEOGEN's returns are expected to increase less than the market. However, during the bear market, the loss of holding ALTEOGEN is expected to be smaller as well. Please check ALTEOGEN's total risk alpha, treynor ratio, and the relationship between the jensen alpha and sortino ratio , to make a quick decision on whether ALTEOGEN's price patterns will revert.
Auto-correlation | 0.04 |
Virtually no predictability
ALTEOGEN has virtually no predictability. Overlapping area represents the amount of predictability between ALTEOGEN time series from 19th of December 2024 to 2nd of February 2025 and 2nd of February 2025 to 19th 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 ALTEOGEN price movement. The serial correlation of 0.04 indicates that only as little as 4.0% of current ALTEOGEN price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.04 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 167.7 M |
ALTEOGEN lagged returns against current returns
Autocorrelation, which is ALTEOGEN 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 ALTEOGEN's stock expected returns. We can calculate the autocorrelation of ALTEOGEN returns to help us make a trade decision. For example, suppose you find that ALTEOGEN 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 |
ALTEOGEN 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 ALTEOGEN stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ALTEOGEN stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ALTEOGEN stock over time.
Current vs Lagged Prices |
| Timeline |
ALTEOGEN Lagged Returns
When evaluating ALTEOGEN's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ALTEOGEN stock have on its future price. ALTEOGEN 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, ALTEOGEN autocorrelation shows the relationship between ALTEOGEN stock current value and its past values and can show if there is a momentum factor associated with investing in ALTEOGEN.
Regressed Prices |
| Timeline |
Pair Trading with ALTEOGEN
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 ALTEOGEN 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 ALTEOGEN will appreciate offsetting losses from the drop in the long position's value.Moving together with ALTEOGEN Stock
Moving against ALTEOGEN Stock
The ability to find closely correlated positions to ALTEOGEN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ALTEOGEN 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 ALTEOGEN - 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 ALTEOGEN to buy it.
The correlation of ALTEOGEN 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 ALTEOGEN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ALTEOGEN 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 ALTEOGEN 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 ALTEOGEN Stock
ALTEOGEN financial ratios help investors to determine whether ALTEOGEN 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 ALTEOGEN with respect to the benefits of owning ALTEOGEN security.