KIM KINDEX (Korea) Market Value
| 238720 Etf | 27,770 290.00 1.06% |
| Symbol | KIM |
KIM KINDEX '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 KIM KINDEX's etf 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 KIM KINDEX.
| 01/04/2023 |
| 12/24/2024 |
If you would invest 0.00 in KIM KINDEX on January 4, 2023 and sell it all today you would earn a total of 0.00 from holding KIM KINDEX Japan or generate 0.0% return on investment in KIM KINDEX over 720 days.
KIM KINDEX 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 KIM KINDEX's etf 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 KIM KINDEX Japan upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.43 | |||
| Information Ratio | 0.0761 | |||
| Maximum Drawdown | 8.38 | |||
| Value At Risk | (1.75) | |||
| Potential Upside | 2.09 |
KIM KINDEX Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KIM KINDEX's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KIM KINDEX's standard deviation. In reality, there are many statistical measures that can use KIM KINDEX historical prices to predict the future KIM KINDEX's volatility.| Risk Adjusted Performance | 0.0842 | |||
| Jensen Alpha | 0.1209 | |||
| Total Risk Alpha | 0.0851 | |||
| Sortino Ratio | 0.0705 | |||
| Treynor Ratio | 1.01 |
KIM KINDEX Japan Backtested Returns
At this point, KIM KINDEX is very steady. KIM KINDEX Japan has Sharpe Ratio of 0.066, which conveys that the entity had a 0.066% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for KIM KINDEX, which you can use to evaluate the volatility of the etf. Please verify KIM KINDEX's risk adjusted performance of 0.0842, and Mean Deviation of 0.9457 to check out if the risk estimate we provide is consistent with the expected return of 0.0865%. The etf secures a Beta (Market Risk) of 0.12, which conveys not very significant fluctuations relative to the market. As returns on the market increase, KIM KINDEX's returns are expected to increase less than the market. However, during the bear market, the loss of holding KIM KINDEX is expected to be smaller as well.
Auto-correlation | 0.38 |
Below average predictability
KIM KINDEX Japan has below average predictability. Overlapping area represents the amount of predictability between KIM KINDEX time series from 4th of January 2023 to 30th of December 2023 and 30th of December 2023 to 24th 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 KIM KINDEX Japan price movement. The serial correlation of 0.38 indicates that just about 38.0% of current KIM KINDEX price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.38 | |
| Spearman Rank Test | 0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 1.6 M |
KIM KINDEX Japan lagged returns against current returns
Autocorrelation, which is KIM KINDEX etf'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 KIM KINDEX's etf expected returns. We can calculate the autocorrelation of KIM KINDEX returns to help us make a trade decision. For example, suppose you find that KIM KINDEX has exhibited high autocorrelation historically, and you observe that the etf 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 |
KIM KINDEX 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 KIM KINDEX etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KIM KINDEX etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KIM KINDEX etf over time.
Current vs Lagged Prices |
| Timeline |
KIM KINDEX Lagged Returns
When evaluating KIM KINDEX's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KIM KINDEX etf have on its future price. KIM KINDEX 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, KIM KINDEX autocorrelation shows the relationship between KIM KINDEX etf current value and its past values and can show if there is a momentum factor associated with investing in KIM KINDEX Japan.
Regressed Prices |
| Timeline |
Pair Trading with KIM KINDEX
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 KIM KINDEX 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 KIM KINDEX will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to KIM KINDEX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KIM KINDEX 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 KIM KINDEX - 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 KIM KINDEX Japan to buy it.
The correlation of KIM KINDEX 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 KIM KINDEX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KIM KINDEX Japan 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 KIM KINDEX 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.