KBSTAR HealthCare (Korea) Market Value
| 253290 Etf | 12,065 75.00 0.63% |
| Symbol | KBSTAR |
KBSTAR HealthCare '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 KBSTAR HealthCare'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 KBSTAR HealthCare.
| 09/05/2024 |
| 12/04/2024 |
If you would invest 0.00 in KBSTAR HealthCare on September 5, 2024 and sell it all today you would earn a total of 0.00 from holding KBSTAR HealthCare Fixed or generate 0.0% return on investment in KBSTAR HealthCare over 90 days.
KBSTAR HealthCare 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 KBSTAR HealthCare'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 KBSTAR HealthCare Fixed upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.20) | |||
| Maximum Drawdown | 2.62 | |||
| Value At Risk | (1.13) | |||
| Potential Upside | 1.01 |
KBSTAR HealthCare Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for KBSTAR HealthCare's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as KBSTAR HealthCare's standard deviation. In reality, there are many statistical measures that can use KBSTAR HealthCare historical prices to predict the future KBSTAR HealthCare's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.12) | |||
| Treynor Ratio | 4.15 |
KBSTAR HealthCare Fixed Backtested Returns
KBSTAR HealthCare Fixed has Sharpe Ratio of -0.0139, which conveys that the etf had a -0.0139% return per unit of volatility over the last 3 months. KBSTAR HealthCare exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify KBSTAR HealthCare's Standard Deviation of 0.6561, market risk adjusted performance of 4.16, and Mean Deviation of 0.5194 to check out the risk estimate we provide. The entity secures a Beta (Market Risk) of -0.007, which conveys not very significant fluctuations relative to the market. As returns on the market increase, returns on owning KBSTAR HealthCare are expected to decrease at a much lower rate. During the bear market, KBSTAR HealthCare is likely to outperform the market.
Auto-correlation | -0.7 |
Very good reverse predictability
KBSTAR HealthCare Fixed has very good reverse predictability. Overlapping area represents the amount of predictability between KBSTAR HealthCare time series from 5th of September 2024 to 20th of October 2024 and 20th of October 2024 to 4th 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 KBSTAR HealthCare Fixed price movement. The serial correlation of -0.7 indicates that around 70.0% of current KBSTAR HealthCare price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.7 | |
| Spearman Rank Test | -0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 38.2 K |
KBSTAR HealthCare Fixed lagged returns against current returns
Autocorrelation, which is KBSTAR HealthCare 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 KBSTAR HealthCare's etf expected returns. We can calculate the autocorrelation of KBSTAR HealthCare returns to help us make a trade decision. For example, suppose you find that KBSTAR HealthCare 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 |
KBSTAR HealthCare 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 KBSTAR HealthCare etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if KBSTAR HealthCare etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in KBSTAR HealthCare etf over time.
Current vs Lagged Prices |
| Timeline |
KBSTAR HealthCare Lagged Returns
When evaluating KBSTAR HealthCare's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of KBSTAR HealthCare etf have on its future price. KBSTAR HealthCare 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, KBSTAR HealthCare autocorrelation shows the relationship between KBSTAR HealthCare etf current value and its past values and can show if there is a momentum factor associated with investing in KBSTAR HealthCare Fixed.
Regressed Prices |
| Timeline |
Pair Trading with KBSTAR HealthCare
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 KBSTAR HealthCare 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 KBSTAR HealthCare will appreciate offsetting losses from the drop in the long position's value.The ability to find closely correlated positions to KBSTAR HealthCare could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace KBSTAR HealthCare 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 KBSTAR HealthCare - 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 KBSTAR HealthCare Fixed to buy it.
The correlation of KBSTAR HealthCare 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 KBSTAR HealthCare moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if KBSTAR HealthCare Fixed 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 KBSTAR HealthCare 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.